(TheNewswire)
Vancouver, British Columbia– TheNewswire - September 14,2022 - Majestic Gold Corp. (“Majestic” or the “Company”) (TSXV:MJS ) , ( FSE:A0BK1D) is pleased to announceresults from a reconnaissance mapping and prospecting program that wascompleted on the Moorine tenement. The property is locatedapproximately 350km east of Perth, 28km southwest of Southern Cross inthe Yilgarn Goldfield of Western Australia. Access is off the GreatEastern Highway, 10km north of the property.
A total of six widely spaced sampleswere taken on this first pass of prospecting on the Moorine propertyvisit. The goal of the program was to identify pegmatite-hostedspodumene deposits capable of hosting lithium mineralization. Results from the samples returned negligible amounts of lithium butmost of the samples returned elevated amounts of rubidium, which isoften associated with lithium.
Sample ID | X | Y | Rb % | |
754-2 | 703317 | 6519016 | 0.475 | Granite |
753 | 703316 | 6519015 | 1.95 | Granite (Repeat of 754-2) |
756 | 703413 | 6519077 | 0.217 | Chert |
763 | 701715 | 6518766 | 0.281 | Granite |
757 | 703431 | 6519106 | 0.321 | Pegmatite |
757-1 | 703431 | 6519106 | 0.687 | Pegmatite (Repeat of 757) |
Rubidium is a high value criticalelement usually found in pegmatites and has multiples uses includingin solar panels, fiber optic cables, as well as sodium-ion batteries.
The Moorine property is comprised ofeight blocks covering 24 square kilometers and is located within theYilgarn craton granites. The property is centred on a northwest trending fault structure similar to the Mt.Holland lithium project and on strike with the Mt. Hollentonpegmatite. At the south end of this district is Galaxy Resource’sMt. Cattlin lithium deposit. The area is underlain by Banded IronFormation and mafic igneous rocks of Archaean age that have beendeformed by two regional fold systems.
The samples were tested using a Sci-AppsZ-903 portable handheld LIBS Analyzer capable of analyzing for everyelement in the periodic table. The Company will work with theconsultants from Western Explorers Pty Ltd. to determine the best wayto follow up the anomalous results from this initial program.
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 theCompany’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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