Majescor Reports 35.65 m of 3.23 g/t Au in Hole FB-010; 4.50 m of 9.93 g/t Au in Hole FB-013; and 11.00 m of 1.94 g/t Au in H...
23 Octubre 2012 - 7:56AM
Marketwired Canada
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW
Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is
pleased to report final assay results from the five recently completed shallow
drill holes (total: 639.50 m) targeting the historical "Central Zone" of the
Faille B vein gold prospect, Northeast Haiti. Highlights from the drilling
include (Table 1):
-- Hole FB-010: 35.65 m grading 3.23 g/t Au, 0.42 g/t Ag and 0.06% Cu (from
66.00 m to 101.65 m), including:
-- 1.65 m grading 67.97 g/t Au, 5.10 g/t Ag, and 0.22% Cu (from 100.00
m to 101.65 m);
-- Hole FB-011: 7.25 m grading 0.95 g/t Au, 0.51 g/t Ag and 0.11% Cu (from
34.50 m to 41.75 m), including:
-- 2.79 m grading 2.28 g/t Au, 0.51 g/t Ag and 0.11% Cu (from 34.50 m
to 37.29 m);
-- Hole FB-012 (i): 17.50 m grading 2.90 g/t Au, 0.95 g/t Ag and 0.14% Cu
(from 58.00 m to 75.50 m), including:
-- 3.90 m grading 10.12 g/t Au, 1.50 g/t Ag and 0.22% Cu (from 58.00 m
to 61.90 m);
-- Hole FB-013: 20.15 m grading 0.58 g/t Au, 0.71 g/t Ag and 0.11% Cu (from
42.85 m to 63.00 m), including:
-- 3.15 m grading 2.25 g/t Au, 1.37 g/t Ag and 0.12% Cu (from 42.85 m
to 46.00 m); and:
-- Hole FB-013: 4.50 m grading 9.93 g/t Au, 2.67 g/t Ag and 0.16% Cu (from
102.00 m to 106.50 m), including:
-- 1.50 m grading 29.51 g/t Au, 4.10 g/t Ag and 0.04% Cu (from 102.00 m
to 103.50 m);
-- Hole FB-014: 11.0 m grading 1.94 g/t Au, 0.90 g/t Ag and 0.11% Cu (from
87.00 m to 98.00 m), including:
-- 2.00 m grading 8.73 g/t Au, 2.00 g/t Ag and 0.22% Cu (from 91.50 m
to 93.50 m);
-- Hole FB-014: 1.95 m grading 10.97 g/t Au, 5.90 g/t Ag and 1.49% Cu (from
114.75 m to 116.70 m).
Daniel Hachey, President and CEO of Majescor states: "The results of this
initial round of drilling at the Central Zone not only confirm the presence of
anomalous gold grades and significant intersections near-surface as reported by
historical drilling, they show the potential for higher grades at depth past the
100 m drill mark, as seen in holes FB-010, FB-013 and FB-014. Faille B will be a
major focus for Majescor in 2013 as we expand the drilling to define a first NI
43-101 compliant resource estimate for the Central Zone while continuing the
step-out drilling process in order to test the extensions of the mineralisation
along strike and at depth. The Faille B gold prospect is situated along a major
and virtually untested tectonic feature which extends 45 km to the southeast
well into neighbouring Dominican Republic where it is host to recent gold
discoveries by Unigold and Goldquest".
Table 1. Summary of best drill intercepts at the Faille B gold prospect
----------------------------------------------------------------------------
From To Width Au Ag Cu
Hole ID Azimuth Dip (m) (m) (m) (g/t) (g/t) (%)
----------------------------------------------------------------------------
040 -56
FB-010 degrees degrees 66.00 101.65 35.65 3.23 0.42 0.06
includes 15.00 36.00 21.00 0.84 1.05 0.14
includes 27.00 28.50 1.50 2.06 1.10 0.16
includes 30.00 31.50 1.50 4.53 2.20 0.18
includes 35.50 36.00 0.50 8.12 2.90 0.34
Includes 100.00 101.65 1.65 67.97 5.10 0.22
----------------------------------------------------------------------------
026 -56
FB-011 degrees degrees 7.00 16.00 9.00 0.53 0.73 0.10
includes 7.00 8.50 1.50 2.01 1.00 0.16
FB-011 34.50 41.75 7.25 0.95 0.51 0.11
includes 34.50 37.29 2.79 2.28 0.51 0.11
includes 36.70 37.29 0.59 8.48 1.30 0.31
----------------------------------------------------------------------------
026 -50
FB-012 degrees degrees 29.00 42.00 13.00 0.30 1.04 0.16
includes 33.00 34.50 1.50 0.82 1.50 0.22
FB-012 58.00 75.50 17.50 2.90 0.95 0.14
includes 58.00 61.90 3.90 10.12 1.50 0.22
includes 63.20 63.45 0.25 1.60 5.30 0.85
includes 71.00 72.50 1.50 1.49 1.10 0.21
includes 74.00 75.50 1.50 4.72 0.20 0.16
FB-012 83.00 93.20 10.20 0.39 0.47 0.08
includes 87.50 93.20 5.70 0.51 0.64 0.08
includes 91.50 92.50 1.00 1.58 1.70 0.17
----------------------------------------------------------------------------
026 -85
FB-013 degrees degrees 3.50 10.25 6.75 0.27 0.32 0.18
includes 5.50 8.10 2.60 0.46 0.30 0.11
FB-013 19.00 20.50 1.50 0.82 0.40 0.05
FB-013 36.00 37.00 1.00 0.46 2.30 0.24
FB-013 42.85 63.00 20.15 0.58 0.71 0.11
includes 42.85 46.00 3.15 2.25 1.37 0.12
includes 42.85 43.25 0.40 15.71 4.50 0.44
includes 55.50 56.00 0.50 2.03 1.70 0.17
includes 57.00 57.50 0.50 1.93 3.00 0.66
FB-013 87.00 88.00 1.00 3.06 2.70 0.49
FB-013 102.00 106.50 4.50 9.93 2.67 0.16
includes 102.00 103.50 1.50 29.51 4.10 0.04
----------------------------------------------------------------------------
030 -56
FB-014 degrees degrees 30.50 31.60 1.10 0.12 0.90 0.23
FB-014 49.55 50.15 0.60 0.21 1.70 0.44
FB-014 60.10 76.50 16.40 0.25 1.86 0.14
includes 60.10 70.50 10.40 0.32 2.38 0.17
FB-014 87.00 98.00 11.00 1.94 0.90 0.11
includes 87.00 87.70 0.70 4.47 5.90 0.66
includes 91.50 93.50 2.00 8.73 2.00 0.22
includes 91.50 92.50 1.00 12.19 2.60 0.24
includes 92.50 93.50 1.00 5.27 1.40 0.21
FB-014 114.75 116.70 1.95 10.97 5.90 1.49
----------------------------------------------------------------------------
(i) see Majescor Press Release dated September 20, 2012
The drill hole assay database at the time Hole FB-012 results were released
contained five greater than 10 g/t Au assays. These over limit samples, together
with a selection of other drill core samples registering greater than 1 g/t Au
were re-analysed using metallic screen fire assay analysis (Acme Labs Code:
G615-G610; 50 g samples (www.acmelab.com)). The drill hole database incorporates
the metallic screen assay results.
The Faille B gold prospect is located 1.8 km to the south of the Company's
Douvray porphyry copper-gold prospect where the Company recently completed 15
drill holes. The quartz vein and shear hosted gold prospect was discovered by
the United Nations Development Programme ("UNDP") in 1983 and was drill tested
by the UNDP between September 1985 and May 1987 (the UNDP also excavated greater
than 15 trenches across the strike of the quartz-gold vein system). A total of
31 drill holes (3,186 m) tested the Faille B shear structure over a strike
length of 1.8 km utilizing a hole spacing of between 60 m to 250 m. Drill hole
depths ranged from 44 m to 190 m and apart from two sub-vertical holes, all
other holes were inclined between -54 degrees to -60 degrees. The UNDP drilling
programme outlined mineralization over a 1.0 km strike length, with a
northwest-southeast trend, and dipping 45 degrees to 60 degrees to the
southwest. Initial, non-NI 43-101 compliant gold resources estimates were
calculated down to a depth of 110 m (refer to NI 43-101 qualifying report by
Barrie (2009) posted on www.sedar.com and at www.majescor.com). Subsequent drill
holes by partner SOMINE SA in 2009 and now by Majescor/SOMINE (total of 15 drill
holes) were positioned perpendicular to the plane formed by the southwest
dipping array of veins in order to test lateral and vertical continuity. The
host rocks at Faille B comprise of propylitically altered and foliated dacite
feldspar porphyry and andesite, with minor sulphide content. The gold
mineralization at Faille B is within and adjacent to a quartz carbonate vein
array up to 30 m wide which contains visible pyrite, chalcopyrite, and
sphalerite.
A map showing the location of the five drill holes at Faille B is available on
the Company's Website at www.majescor.com.
SIMACT Alliance Copper Gold Inc. ("SACG"), a Majescor 100%-held subsidiary, is
the operator of the Faille B exploration program, per its agreement with partner
and SOMINE project title holder, SOMINE SA.
Core sampling, analysis and quality control
Core samples from the SOMINE Project are cut in half using a rock saw. The half
samples are sent to Acme Labs' sample preparation and expediting facility in the
Dominican Republic (www.acmelab.com). All analytical work is performed at Acme's
laboratory in Santiago, Chile. All samples are analyzed by Agua Regia digestion,
1DX2 ICP-MS method. Any sample registering greater than 1 wt % Cu is re-analysed
using a four-acid total digestion by ICP-ES (Code 8TD-Cu), and any sample
returning a value of greater than 100 ppb gold is re-analysed using gold Fire
Assay AA finish. Samples registering greater than 10 g/t Au are re-analysed
using metallic screen fire assay analysis (Acme Labs Code: G615-G610; 50 g
samples). Acme Labs is an ISO 9001:2008 qualified assayer that performs and
makes available internal assaying controls. Quality control protocols in place
by Majescor/SACG consist of the insertion of one blank, one reject duplicate and
one of three different certified reference standard materials in every batch of
20 samples. Core recovery in the mineralized zones has been averaging greater
than 90% to date.
About the SOMINE Project
The SOMINE project consists of a Research Permit covering 50 km2, the mineral
rights and obligations of which have been assigned under a Mining Convention
executed between SOMINE SA and the State of Haiti on May 5, 2005 and valid until
March 9, 2020. The Research Permit expired on June 22, 2012. On June 21, 2012
SOMINE SA filed two independent technical reports (non-NI 43-101 compliant) to
the Haitian Bureau of Mines and Energy (the "BME") in Port-au-Prince. The
technical reports were filed pursuant to SOMINE SA's obligations under the
Mining Convention and in support of SOMINE SA's application to have the 50 km2
SOMINE Research Permit converted to: one (1) 25 km2 Mining Exploitation Permit
covering the Blondin-Douvray-Dos Rada porphyry copper system which contains the
Douvray porphyry copper-gold prospect; and one (1) 20 km2 Mining Exploitation
Permit covering the Faille B vein gold-copper prospect and host shear structure.
Under the terms of the Mining Convention (Article 17), and conditional upon
SOMINE SA honouring other provisions set-out in the Mining Convention, upon
receiving the two technical reports, the BME has thirty (30) days to issue the
two Mining Exploitation Permits. Under Haitian mining law, a Mining Exploitation
Permit is valid for five (5) years and is renewable until the start of
commercial mining at which time the permit shall be converted to a Mining
Concession (valid for 25 years; renewable). The award by the BME of the two
Mining Exploitation Permits to Majescor/SACG partner and title-holder SOMINE SA
is pending.
SOMINE SA has also carried-out systematic soil sampling and prospecting work
over four Prospecting Permits encompassing four 100 km2 areas lying to the East,
South and Southeast of the permit subject to the Mining Convention. SOMINE SA
has requested the conversion of 3 of 4 Prospecting Permits to Research Permits
(50 km2 each) and has filed all technical and source documents in support of its
application with the Haitian Bureau of Mines ("BME").
About SIMACT Alliance Copper Gold Inc. and SOMINE SA
SIMACT Alliance Copper Gold Inc. ("SACG") is a 100%-held subsidiary of Majescor.
SACG is the majority shareholder of SOMINE SA, a registered Haitian corporation
holding 100% of the mineral rights to the SOMINE project. SOMINE SA has
designated SACG as the Technical Operator of the SOMINE project exploration
programme.
About Majescor Resources Inc.
Majescor Resources Inc. is a junior explorer focusing on emerging mineral
districts. In addition to the SOMINE project, Majescor's project portfolio
includes the Mistassini uranium exploration projects in Quebec (under
Joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.) the Besakoa gold
and base metal property in Madagascar (50%-50% joint venture with Sunridge Gold
Corp.).
This press release has been prepared by Marc-Andre Bernier, M.Sc., P.Geo.
(Ontario and Quebec), technical adviser and a Director of Majescor, and a
qualified person under NI 43-101.
To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT
Alliance Copper Gold Inc., the SOMINE copper-gold Property as well as the
Company's Mistassini uranium and Besakoa copper/gold properties, please visit
our website at www.majescor.com.
Forward-Looking Statements
This News Release may contain or refer to "forward-looking statements" which
reflect Management's expectations regarding the Company's future growth, results
of operations, performance and business prospects and opportunities. These
statements reflect Management's current beliefs at the time of this news release
and are based on information currently available to Management. All statements
other than statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Majescor Resources inc.,
are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those anticipated
in such statements. Important factors that could cause actual results to differ
materially from Management's expectations are exploration risks detailed herein
and from time to time in the filings made by the Company with securities
regulators.
FOR FURTHER INFORMATION PLEASE CONTACT:
Daniel Hachey
President & CEO
Majescor Resources Inc.
905.206.1604
613.241.7817 (FAX)
dan@majescor.com
www.majescor.com
Majescor Resources Inc. (TSXV:MJX)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Majescor Resources Inc. (TSXV:MJX)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
