(TheNewswire)
Vancouver, B C - TheNewswire - March 16, 2023 - Majestic Gold Corp. (“ Majestic ” or the “ Company ”) (TSX.V:MJS ) ( FSE:A0BK1D) announces results from the mapping and prospecting on theLeonora, Sir Samuel, and Salmon Gums properties in WesternAustralia.
The Sir Samuel property is part of the Agnew – Wiluna GreenstoneBelt and is about 8 kms east of the newly discovered Kathleen Valleylithium deposit. The Company’s consultants were following up onprevious anomalous results found in SRK Consulting China Ltd.’sinitial evaluation of the property. A total of four rock samples werecollected and results included elevated rubidium and potassium valuesin three of the samples and a slightly elevated lithium result of 21.3ppm in one sample.
The Leonora tenement, is 230 km north of Kalgoorlie in WesternAustralia. Recent mapping and prospecting at this property was afollow-up to a soil geochemical program done in 2022. Limitedgreenstone outcrops were found to be present immediately east of the2022 soil geochemical grid, however, two samples of greenstone rocksand two other granitic rock samples failed to return any significantassay results.
The Salmon Gums property is located in the south-eastern Goldfieldsprovince of Western Australia, about 100 km south of Norseman. Thiswas a first-pass prospecting and mapping program on the property. Twosamples were taken and neither sample returned any significantresults.
The Company’s consultants recommended continued work on the SirSamuel and Leonora properties and no further work on the Salmon Gumsproperty.
All sample sites taken were established and recorded using a GPScontrol. Rock chip samples were collected in sealed in polyweave bagsfor protection while being transported to Intertek Genalysyis inPerth, Western Australia for ICP-MS analysis,
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.
Currently focused in China, Majestic Gold Corp. is a British Columbiabased company engaged in commercial gold production at the SongjiagouGold Mine in eastern Shandong Province, China. Additional informationon the Company and its projects is available at www.sedar.com and on the Company’s website at www.majesticgold.com .
For further information, please contact:
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 future events. Such statements include estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financialmultiples and accretion estimates, future trends, plans, strategies,objectives and expectations,including with respect to production, exploration drilling, reservesand resources, exploitation activities and events or futureoperations. Information inferred from the interpretation of drillingresults and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.
In some cases, you can identify forward?looking statements byterminology such as"may", "should", "expects", "plans, "anticipates",believes", "estimates", "predicts","potential", or "continue" or the negative ofthese terms or othercomparable terminology. These statements are only predictions andinvolve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by theseforward?looking statements.
While these forward?looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actualresults will almost always vary, sometimes materially, from anyestimates, predictions, projections, assumptions or other futureperformance suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward? looking statements to conform these statements to actualresults.
Copyright (c) 2023 TheNewswire - All rights reserved.