19:27:56 EST Wed 30 Nov 2022
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or Name

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Majestic Gold Corp
Symbol MJS
Shares Issued 1,042,664,381
Close 2022-09-13 C$ 0.055
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Majestic Gold finds no lithium at Moorine

2022-09-14 16:40 ET - News Release

Mr. Stephen Kenwood reports


Majestic Gold Corp. has released results from a reconnaissance mapping and prospecting program that was completed on the Moorine tenement. The property is located approximately 350 kilometres east of Perth, 28 kilometres southwest of Southern Cross in the Yilgarn goldfield of Western Australia. Access is off the Great Eastern Highway, 10 kilometres north of the property.

A total of six widely spaced samples were taken on this first pass of prospecting on the Moorine property visit. The goal of the program was to identify pegmatite-hosted spodumene deposits capable of hosting lithium mineralization. Results from the samples returned negligible amounts of lithium but most of the samples returned elevated amounts of rubidium, which is often associated with lithium.

Rubidium is a high-value critical element usually found in pegmatites and has multiple uses, including in solar panels, fibre optic cables, as well as sodium-ion batteries.

The Moorine property comprise eight blocks covering 24 square kilometres and is located within the Yilgarn craton granites. The property is centred on a northwest-trending fault structure similar to the Mount Holland lithium project and on strike with the Mount Hollenton pegmatite. At the south end of this district is Galaxy Resource's Mount Cattlin lithium deposit. The area is underlain by banded iron formation and mafic igneous rocks of Archean age that have been deformed by two regional fold systems.

The samples were tested using a Sci-Apps Z-903 portable hand-held LIBS (laser-induced breakdown spectroscopy) analyzer capable of analyzing for every element in the periodic table. The company will work with the consultants from Western Explorers Pty. Ltd. to determine the best way to follow up on the anomalous results from this initial program.

Qualified person statement

Stephen Kenwood, PGeo, a director of Majestic Gold, is a qualified person within the context of National Instrument 43-101 and has read and approved this news release.

About Majestic Gold Corp.

Currently focused in China, Majestic Gold is a British Columbia based company engaged in commercial gold production at the Songjiagou gold mine in eastern Shandong province, China.

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