NR - Majescor Reports Favourable Initial Metallurg Majescor Reports Favourable Initial Metallurgical Test Results for Copper, Gold, Silver and Molybdenum at the Douvray Porphyry Copper-Gold Prospect, SOMINE Project, Northeast Haiti...
... Hires QP for Douvray Resource Estimation
MONTREAL, QUEBEC--(Marketwire - May 10, 2012) -
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Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is pleased to report favourable initial metallurgical test results for a composite sample assembled from drill core for the Douvray porphyry copper-gold prospect on its SOMINE project in Northeast Haiti. Majescor is half way through a 10,000 m core drilling program focussed on Douvray, along with other targets including the Blondin porphyry copper-gold prospect and the Faille B vein gold prospect. The principal aim of the drill program is to replicate significant historical copper and gold intercepts, improve grade and tonnage, and provide sufficient additional data for a first National Instrument ("NI") compliant resources estimate on the project this year, to be followed by a scoping study in early 2013. To date, the Company has reported significant intercepts in the sulphide zone in 5 holes at Douvray, in one hole at Blondin, and in four holes at Faille B (See Majescor press releases dated August 13 and December 10, 2011; January 10, January 21, March 13, and April 11, 2012).
Douvray prospect metallurgical test results
The first sample submitted for metallurgical testing comprised of a composite of 95 kg assembled from mineralised intervals from three of the first five holes drilled at Douvray as part of Phase I of the drill program (3,500 m; completed in December 2011). The individual samples consisted of material collected from drill core coarse rejects archived at ACME Labs' preparation facility in Maimón, Dominican Republic. These samples were selectively chosen to represent typical Douvray copper mineralization. The coarse reject samples were then submitted to Metchib metallurgical laboratories in Chibougamau, northern Québec. At Metchib laboratories, the coarse rejects were homogenized into a composite metallurgical sample, then split into four 24 kg lots, each of which were subjected to different grinding and flotation tests. The best locked cycle tests yielded a recovery of 89.7 % from a concentrate grading 24.6 % Cu. This represents an average feed grade of 0.619 % Cu from a grind of 75 microns (K80 = 75 um or 200 mesh). Also within the concentrate, the gold, silver and molybdenum values are 4 g/t Au, 67 g/t Ag and 0.07 % Mo, indicating recovery rates of 70.9%, 87.4% and 71.7%, respectively; most of these metals report to the copper concentrate. A total of 10.3 % of the copper reported to tails containing a grade of 0.067 % Cu.
Daniel Hachey, President & CEO of Majescor stated: "We are very pleased with the high recovery rates obtained for copper, gold, silver and molybdenum in the initial metallurgical tests at Douvray. It is particularly encouraging that in these tests, much of the gold, silver and molybdenum report to the copper concentrate without the necessity of further recovery techniques. These tests will be supplemented with further metallurgical work in due course as we progress with the advanced exploration program at the SOMINE project. To this end, a third Palo Verde drill rig has just been mobilized at the project. This new, more powerful drill will allow Majescor to delineate the extensions of the mineralisation and test new targets to depths of over 600 m."
In addition to the metallurgical testing, the Company has just completed an in-house mineralogical study of samples of Douvray sulphide mineralization. The mineralogical study has found that the majority of the copper within the sulphide zone is present as chalcopyrite and bornite. Other sulphide or sulfosalt minerals present include pyrite; and, in minor to trace quantities: molybdenite, covellite, digenite, hessite, clausthalite, galena, and sphalerite.
Majescor is also pleased to report that it has retained the services of Ron Simpson, P.Geo. of GeoSim Services Inc. of Vancouver, British Columbia, to oversee the Douvray porphyry copper-gold prospect NI 43-101 resources estimation process. Mr. Simpson is a Professional Geoscientist with 30 years of international experience in mineral exploration. He has specialized in resource estimation, GIS and property evaluation since 1987. The ongoing resources estimation process is a multidisciplinary effort involving geoscientists from Buscore Consulting under the leadership of Dale Schultz M.Sc., P.Geo. (Manitoba and Saskatchewan), and from Majescor under the leadership of C. Tucker Barrie, Ph.D., P.Geo. (Ontario).
SIMACT Alliance Copper Gold Inc. ("SACG"), Majescor 100%-held subsidiary, is the operator of the SOMINE exploration program, per its agreement with partner and project title holder, SOMINE SA.
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. 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 licenses to exploration licences (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.).
C. Tucker Barrie, Ph.D., P.Geo. (Ontario) is the qualified person responsible for the technical data in this press release in compliance with National Instrument (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, or contact us directly at:
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.
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