(TheNewswire)
Vancouver, British Columbia - TheNewswire - December 10, 2021 - Majestic Gold Corp. (“Majestic” or the “Company”) (TSXV:MJS ) (OTC:MJGCF) ( FSE:A0BK1D) is pleased to announce that initial review on the fourlithium tenements near Kalgoorlie in Western Australia has beencompleted. The Company contracted SRK Consulting China Ltd.(“SRK”) in Beijing to perform an initial technical review ofregional government geochemical surveys and aeromagnetic andradiometric geophysical survey data, conduct property visits on all ofthe properties, and summarize results in a report with recommendationsfor further work on all the properties with particular focus on theLeonora and Sir Samuel tenements.
E37/1334 (Leonora)
The Leonora property is located approximately 15 kmwest of the Leonora townsite, which is 230 km north of Kalgoorlie viathe Goldfields Highway. The Leonora project is covered with Tertiaryand Quaternary alluvium and colluvium. Aeromagnetic datainterpretation of the region indicates the tenement to be underlain bygranitoids located near the western boundary of the Leonora Greenstonebelt. The regional geochemical Lithium contour map shows a goodregional lithium anomaly through the central portion of this property,part of a broad northwest trending anomaly in this area. SRKrecommends more focused geochemical and geophysical programs for thisproperty.
E36/918 (Sir Samuel)
The Sir Samuel project is situated at about 450 kmnorth of Kalgoorlie, within the Yakabindie-Mt Keith ultramafic beltwhich forms part of the Agnew – Wiluna Greenstone Belt. Theproperty is about 8 kms east of the newly discovered Kathleen Valleylithium deposit. The region is characterised by major tectoniclineaments such as the Mt Keith-Kilkenny structure together withcomplex folding and faulting. Although regional geochemical resultsand results from the six SRK rock samples indicate that lithiumpotential for the property is low, the SRK sampling did returnanomalous values in Cesium and Lanthanum, indicative of rare earthelement (REE) potential. Despite the low regional lithium values, SRKhas recommended further investigation (geochemical/geophysicalsurveys) especially in the north area near the contact zone betweengreenstone and granite.
The Company is planning to commence a Phase 1 soilsampling program and a ground magnetometer survey beginning with theLeonora property in early 2022 to follow up on the lithium anomalyoutlined by the state geochemical data.
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.
Copyright (c) 2021 TheNewswire - All rights reserved.