(TheNewswire)
Ottawa, Ontario / TheNewswire / June 27, 2017 - Majescor Resources Inc. /Albert Mining ("Majescor" or the "Corporation") (TSX-V: MJX), an exploration mining Company and a leader in applying Artificial Intelligence and data mining technical services in the mining sector using its Computer Aided Resources Detection System ("CARDS"), is pleased to announce the initiation of its summer 2017 field program on its gold and diamond properties*, notably:
James Bay Kimberlite
The James Bay Kimberlite property which consists of 21 claims blocks (131 CDC claims) located in proximity to the Renard Diamond Mine and Stornoway's Adamantin Project , will be investigated in early July through till sampling. Some of the glacial sediment samples will be collected immediately down ice from the 37 kimberlite targets that were identified and scored by rank of priority using the Computer Aided Resource Detection System (CARDS). This territory became a focal point for kimberlite exploration following the discovery of diamonds in the Renard and the Beaver Lake sectors. The helicopter-borne sampling will be carried out by two senior geologists and the samples will be promptly submitted to Overburden Drilling Management of Ottawa for the recovery and identification of kimberlitic indicator minerals.
Nelly Neilson gold and Laparre Kimberlite
Work on the two projects will be carried out in conjunction with exploration on the James Bay Kimberlite property. The Nelly Neilson and Laparre properties respectively cover anomalous gold grains and kimberlite indicator minerals in glacial sediment identified through previous regional sampling. The follow-up work will entail closely-spaced till sampling to confirm and better locate the source of the minerals. About ten till samples are planned at Laparre. Till fences, in contrast, are to be performed perpendicularly to the main ice flow at Nelly Neilson.
Currie-Madeleine Gold-Copper
The Currie-Madeleine property covers 4 gold targets, 1 copper target, and 2 copper-zinc targets, all generated by Albert Mining using its Computer Aided Resource Detection System (CARDS). It consists of 54 claims (CDC) distributed in two blocks for a total area of 3,030 hectares. The property is located in the Lebel-sur-Qu?(C)villion and Desmaraisville area and it rests on the prolific Archean Abitibi sub-province. Four gold showings grading over 1 g/t and two zinc showings grading over 1% have been reported in historical drill holes on the property. Many gold showings are described in the area and three gold deposits: Discovery, Lake Rose, and Flordin, are located within seven km of the property. After the compilation and integration of all geology and drilling reports, geophysical ground and recent airborne surveys, including data from adjacent properties, a first phase exploration program including field reconnaissance will be performed on the CARDS-generated targets. A high-resolution geophysical EM survey will follow. A detailed analysis of the data from the second phase will aid the company to re-evaluate the mineral potential of the property and determine the appropriate location and orientation of future drill holes.
Wachigabau Gold-Copper
The Wachigabau property covers 5 gold targets and 1 copper target selected from the CARDS computer program of Albert Mining. It consists of 33 map-designated claims (CDC), totaling 1,842.03 hectares. The property lies within the southern band (Caopatina Segment) of the Chibougamau-Matagami Archean greenstone belt. The Wachigabau property is located within a 15 km radius of 2 gold deposits (Short Lake & Mariposite) and 3 known gold and base metals showings (Lac Relique-Ouest, Simard & Lac Lapointe SE). A geochemical survey will be performed over the CARDS gold targets hidden below thick overburden so as to validate their mineral potential.
Mirabelli Gold
Majescor recently initiated its 2017 field season by completing detailed prospection and infill till sampling along the paved Radisson Road on its Mirabelli Property located in Qu?(C)bec's James Bay area. The suspected iron formation was observed in bedrock and samples were sent to the laboratory for gold and multi-element analysis. Till samples are being processed for recovery and identification of visible gold particles and heavy mineral fractions.
About Majescor Resources Inc.
Majescor is a junior mining exploration company
with an extensive portfolio of gold and diamond properties in Quebec.
Majescor also recently acquired assets from DIAGNOS Inc.'s mining
division, including the Computer Aided Resources Detection System
("CARDS"). Majescor can count on a multidisciplinary team that
includes professionals in geophysics, geology, Artificial
Intelligence, and mathematics. The Corporation's objective is to
develop a new royalty stream by significantly enhancing and
participating in the exploration success rate of mining.
The scientific and technical content of this release was approved by Grigor Heba, P.Geo. a qualified person as defined by the National Instrument 43-101. For further information, please consult Albert's website http://albertmining.com/ or contact
Michel Fontaine
President and CEO of Majescor Resources Inc./Albert Mining Inc.
Telephone: 514-994-5843
Email: michel@majescor.com
Additional information about the Corporation is
available under Majescor's profile on SEDAR at www.sedar.com.
This news release contains certain "forward-looking statements" or
"forward-looking information" (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
securities legislation. Such forward-looking statements include,
without limitation, forecasts, estimates, expectations and objectives
for future operations that are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of the
Company. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by the
words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and
similar expressions, or are events or conditions that "will",
"would", "may", "could" or "should" occur or be
achieved. This news release contains forward-looking statements,
pertaining to, among other things, the following: the resumption of
the trading of Majescor shares on the TSX Venture Exchange. Statements
regarding future production, capital expenditures and development
plans are subject to all of the risks and uncertainties normally
incident to the exploration for and development and production of oil
and gas that may cause actual results or events to differ materially
from those anticipated in such forward-looking statements. These risks
include, but are not limited to, inflation or lack of availability of
goods and services, environmental risks, drilling risks, regulatory
changes and certain other known and unknown risks detailed from time
to time in Majescor's public disclosure documents, copies of which
are available on Majescor's SEDAR profile at www.sedar.com.
Although Majescor believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Majescor's actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, Majescor disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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