Gary, yes. Once defrosted you'll have up to 3 days to use the sauce. By the way it's better to keep the base sauce on the thick side when you make it, then dilute with water after you defrost. That's much more space and energy efficient than freezing an already diluted sauce.
When I freeze base sauce I freeze it in 200ml portions then dilute up to 350ml with added water at the defrosting stage. To achieve this I limit the water I add during the cooking stages.