Majestic Reports on Leonora Property in Western Australia

2022-05-02 / @thenewswire

(TheNewswire)

Vancouver, British Columbia - TheNewswire - May 2, 2022 - Majestic Gold Corp. (“Majestic” or the “Company”) (TSXV:MJS) (OTC:MJGCF) (FSE:A0BK1D) is pleased to announce that a reconnaissance soil geochemical sampling program has been completed on the Leonora tenement, located approximately 15 km west of the Leonora townsite, which is 230 km north of Kalgoorlie in Western Australia. This initial phase of work was designed to follow up on results from a regional state-wide geochemical program that identified a northwest trending lithium anomaly that passes through the central portion of the tenement. The exploration target is interpreted to be at or near the contact zone of granitoids on the west and greenstones on the west limb of the Leonora Anticline.

The project area is mostly covered by Tertiary and Quaternary alluvium and colluvium, and the depth of which is thought to be 5-15 metres over most the area. A wide-spaced grid comprised of seven east-west lines spaced 200 metres apart were sampled on 100 metre stations, collecting a total of 62 samples using an auger to drill to about 50 cm holes and collect samples from the bottom of each hole. Results from this program confirm a northwest trending lithium anomaly coincident with elevated rubidium and potassium in the southwestern portion of the grid. Samples returned up to 24.3 ppm lithium, 70.5 ppm rubidium, and 1.35% potassium, confirming the results from the state government regional survey.

The Company intends to follow up this program with a phase 2 program consisting of closer spaced grid geochemical sampling and a ground magnetometer survey in order to better define targets for a possible phase one drill program.

All sample sites were established and recorded using a GPS control. Samples were taken as B-C horizon soils, varying from about 50 cm below surface. Approximately 300 gm of the material was placed in a numbered Kraft paper geochemical bags that were then collected in polyweave bags for protection while being transported to the laboratory. Samples were transported to Intertek Genalysyis in Perth, Western Australia for multielement analysis via 4A/MS48R techniques.

Qualified Person Statement

Stephen Kenwood, P.Geo., a director of Majestic Gold Corp., is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release.

About Majestic Gold

Currently focused in China, Majestic Gold Corp. is a British Columbia based company engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. Additional information on 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

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