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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 Feb 07, 2023 10:23am
140 Views
Post# 35271651

More Drilling Planned This Year

More Drilling Planned This YearThe information is coming out in bits and pieces.

A new bit is that 4700 m of drilling are planned in the open pit in 2023.

I suspect because there are large areas with only sparse drilling outside the newly optimized open pit.

FYI, the newly optimized pit containing 2.4 m ounces within  72.3 m tons of ore will be mined from the addition of 1.2 million sq km of pushbacked ore .

That approx 2 ounces below each sq m down to 303 m.

The total surface area of the pit is 6 million sq m of which 4.6 m sq meters include the areas mine out plus the newly optinized planned mining area.

So, about 1.4 m sq meters remains within the open pit for future mining once the current newly exposed ore is mined out .

At 2 ounces per sq meter, that remaining area could contain 2.8 million more ounces.

This would class the SJ open pit at over 5 million ounces which is a Tier 1 resource........only 15 % of open pits reach this level.

So, things are moving ahead and the drilling in 2023 should be very interesting.


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