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Majestic Gold Corp. V.MJS

Alternate Symbol(s):  MJGCF

Majestic Gold Corp. is engaged in mineral resource exploration, development and extraction. It operates the Songjiagou open pit gold mine in the eastern Chinese province of Shandong. Songjiagou Gold Mine covers over 75.04 square kilometers in Muping, Yantai, Shandong Province, China. It has four separate tenements, including E36/918, E37/1334, E63/2110 (Kumarl) Tenement and E77/2817 (Moorine) Tenement. These tenements are located in Western Australia, an area with demonstrated potential for the discovery of lithium oxide mineralization. E36/918 tenement has been granted and consists of two blocks located 150 kilometers (km) North of Leonora, about 50 kms north of Leinster, along the east side of the Kathleen Valley. E37/1334 tenement has been granted and consists of six blocks located west of Leonora township, 200 kms North of Kalgoorlie and 700 kms northeast of Perth, in the Goldfields region. E77/2817 (Moorine) Tenement consists of eight blocks located 400 kms east of Perth.


TSXV:MJS - Post by User

Post by nozzpackon Dec 06, 2022 7:28pm
175 Views
Post# 35154859

Updated Resource Assessme

Updated Resource AssessmeOne obvious factor that I should have mentioned is that in the process of carrying out  the cutback for the first mining bench , they probably took bulk mining samples of the exposed high grade ore beneath the over burden.

Mining is essentially bulk mining on a larger scale.

What bulk sampling of  multiple samples of say, 20 tons of ore will do is validate the commercial economics of the ore than has previously only reached the M&1 43-101 categories via drilling.

In other words more of that high grade shallow ore will be converted to 2P reserves, thereby extending the life of the current expansion.

If I recall correctly , the tailings ponds have extra capacity above the mine life of the current expansion ( 8.5 years ) based on the June 2022 resource estimate .

So it makes sense to update our 2P reserves..


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