(TheNewswire)
Vancouver, British Columbia - TheNewswire - May 2, 2022 - Majestic Gold Corp. (“Majestic” or the “Company”) (TSXV:MJS ) (OTC: MJGCF) ( FSE:A0BK1D) is pleased to announce thata reconnaissance soil geochemical sampling program has been completedon the Leonora tenement, located approximately 15 km west of theLeonora townsite, which is 230 km north of Kalgoorlie in WesternAustralia. This initial phase of work was designed to follow up onresults from a regional state-wide geochemical program that identifieda northwest trending lithium anomaly that passes through the centralportion of the tenement. The exploration target is interpreted to beat or near the contact zone of granitoids on the west and greenstoneson the west limb of the Leonora Anticline.
The project area is mostly covered by Tertiary andQuaternary alluvium and colluvium, and the depth of which is thoughtto be 5-15 metres over most the area. A wide-spaced grid comprised ofseven east-west lines spaced 200 metres apart were sampled on 100metre stations, collecting a total of 62 samples using an auger todrill to about 50 cm holes and collect samples from the bottom of eachhole. Results from this program confirm a northwest trending lithiumanomaly coincident with elevated rubidium and potassium in thesouthwestern portion of the grid. Samples returned up to 24.3 ppmlithium, 70.5 ppm rubidium, and 1.35% potassium, confirming theresults from the state government regional survey.
The Company intends to follow up this program with aphase 2 program consisting of closer spaced grid geochemical samplingand a ground magnetometer survey in order to better define targets fora possible phase one drill program.
All sample sites were established and recorded using aGPS control. Samples were taken as B-C horizon soils, varying fromabout 50 cm below surface. Approximately 300 gm of the material wasplaced in a numbered Kraft paper geochemical bags that were thencollected in polyweave bags for protection while being transported tothe laboratory. Samples were transported to Intertek Genalysyis inPerth, Western Australia for multielement analysis via 4A/MS48Rtechniques.
Qualified Person Statement
Stephen Kenwood, P.Geo., a director of Majestic Gold Corp., is aQualified Person within the context of National Instrument 43-101 (NI43-101) and has read and approved this news release.
About Majestic Gold
Currently focused inChina, Majestic Gold Corp. is a British Columbia based company engagedin commercial gold production at the Songjiagou Gold Mine in easternShandong Province, China. Additional information on the Company andits projects is available at www.sedar.com and on the Company’s website at www.majesticgold.com .
For further information, pleasecontact:
Stephen Kenwood, P.Geo. , President and CEO
Telephone: (604) 560-9060
Email: info@majesticgold.com
Website: www.majesticgold.com
Cautionary Notes
Certain statements contained hereinmay constitute forward?looking statements and are made pursuant tothe "safe harbor" provisions of the United States PrivateSecurities Litigation Reform Act of 1995 and Canadian securities laws.Forward?looking statements are statements which relate to futureevents. Such statements include estimates, forecasts and statements asto management's expectations with respect to, among other things,business and financial prospects, financial multiples and accretionestimates, future trends, plans, strategies, objectives andexpectations, including with respect to production, explorationdrilling, reserves and resources, exploitation activities and eventsor future operations. Information inferred from the interpretation ofdrilling results and information concerning mineral resource estimatesmay also be deemed to be forward-looking statements, as it constitutesa prediction of what might be found to be present when, and if, aproject is actually developed.
In some cases, you can identifyforward?looking statements by terminology such as "may","should", "expects", "plans,"anticipates", believes", "estimates","predicts", "potential", or "continue"or the negative of these terms or other comparable terminology. Thesestatements are only predictions and involve known and unknown risks,uncertainties and other factors that may cause our or our industry'sactual results, level of activity, performance or achievements to bematerially different from any future results, levels of activity,performance, or achievements expressed or implied by theseforward?looking statements.
While these forward?lookingstatements, and any assumptions upon which they are based, are made ingood faith and reflect our current judgment regarding the direction ofour business, actual results will almost always vary, sometimesmaterially, from any estimates, predictions, projections, assumptionsor other future performance suggestions herein. Except as required byapplicable law, Majestic Gold does not intend to update anyforward?looking statements to conform these statements to actualresults.
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