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Re: News Releases - Wednesday, April 14, 2010
Majestic Gold Provides Update on Song Jiagou Property
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Vancouver, British Columbia, April 14, 2010 -- Majestic Gold Corp.
(TSX.V: MJS) ("Majestic") is pleased to announce, further to our news
release of February 24, 2010, mining operations conducted by Dahedong
Smelter Mill ("Dahedong") on the "Song Jiagou property" or "Muping
Mine" (the "Property") on behalf of Yantai Zhongia Mining Enterprise
("JVCo") for the period Dec 25, 2009 - Mar 25, 2010 amounted to:
Period ending
25-Jan-10 25-Feb-10 25-Mar-10 TOTALS
Tonnes milled 30,383 39,288 36,805 106,476
Head grade (g/t) 0.47 0.48 0.54 0.50
Concentrate (t) 432 565 661 1,658
Con. grade (g/t) 29.63 29.97 27.1 28.7
Recovery 89.7% 89.6% 89.5% 89.6%
oz Au 411.5 544.4 575.9
1,531.8
In addition, smelter reports have been received for the shipment of
certain concentrates and the following information has been obtained
from them:
Report Number Date Au (oz)* Ag (oz) Sulphur (T)
Fj201002010047 01-Feb-10 234.45 137.93 95.73
Fj201003010023 01-Mar-10 292.59 258.62 132.60
Fj201003120068 14-Mar-10 401.63 363.94 136.31
Fj201001101025 01-Apr-10 319.58 346.69 130.92
*Gold that has been smelted is currently being held as bullion.
Concentrate from Muping Mine is smelted by Hengban Smelting Company
Located in Yantai China. Hengban is a large integrated metals company
quoted as being fourth largest in China. The smelter has been in
operation since 1996 and employs contemporary technology.
During the period December 25, 2009 to March 25, 2010, a total of
82,219t were derived from open pit sources and 24,257t were derived
from underground. This corresponds to 77.2% of ore milled from pit
sources and 22.8% from underground sources.
Michael W. Hibbitts, P.Geo., VP Development and Exploration, comments,
"Initial numbers represent reclaimed mining from clean up of stopes
underground and materials remaining in the open pit. These stopes were
left by Shandong Muping Mining, previous owners of the Muping mine,
also known as the Fayunkuang Mine. Majestic is currently on an
aggressive plan to re-define the resource estimate into a NI 43-101
compliant format and further design a mining plan for underground and
surface, and develop operations and grade control procedures."
Dahedong will continue to mine under the supervision of Majestic's VP
Development and Exploration, Michael W. Hibbitts, P.Geo. Until
approval of the agreement with Dahedong, as announced in the Company's
February 24, 2010 news release, Majestic owns 90% of 60% of JVCo. JVCo
holds exploration permits and licenses for the Property, located near
Yantai, in Shandong Province, China. On completion of the acquisition,
Majestic's interest in JVCo and the Muping project will increase from
54% to 94%.
The geological information contained in this news release has been
reviewed and approved by Michael W. Hibbitts, P.Geo., who is a
qualified person under the definitions established by National
Instrument 43-101.
On Behalf of the Board of Directors
MAJESTIC GOLD CORP.
Signed "Rod Husband"
Rod Husband, P.Geo
President
Contact:
Investor Relations: (604) 681-4653 or 1-866-282-8398
Email: info@majesticgold.net or visit our Website: www.majesticgold.net
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated in such statements.
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Copyright (c) 2010 MAJESTIC GOLD CORP. (MJS) All rights reserved. For
more information visit our website at http://www.majesticgold.net/ or
send mailto:info@majesticgold.net
Message sent on Wed Apr 14, 2010 at 4:29:50 PM Pacific Time
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Majestic Gold Corp.
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DEVELOPMENT STAGE |
CODE : MJS.V |
ISIN : CA5609121077 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Majestic Gold is a gold exploration company based in Canada. Majestic Gold holds various exploration projects in China. Its main asset in development is SONG JIAGOU in China and its main exploration property is SAWAYAERDUN in China. Majestic Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 68.4 millions as of today (US$ 50.4 millions, € 45.4 millions). Its stock quote reached its highest recent level on March 14, 1997 at CA$ 2.00, and its lowest recent point on September 04, 2009 at CA$ 0.02. Majestic Gold has 912 270 016 shares outstanding. |