Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

February 01, 2012 10:59 ET

Majescor and SOMINE Report 255 g/t Silver (7.4 Oz/Ton) Over 13.5 m in the Supergene Oxide Zone in Hole D-002 at the Douvray Porphyry Copper-Gold Prospect, Northeast Haiti

Includes 1.5 m intercept grading 2,069 g/t silver (2.07 kg/t or 60.4 oz/ton)

MONTREAL, QUEBEC--(Marketwire - Feb. 1, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), its 100%- owned affiliate company SIMACT Alliance Copper-Gold Inc. ("SACG") and their Haitian partner SOMINE SA are pleased to report the final assay and over-limit check results for the supergene oxide and oxide/sulphide transition zones for the first five holes (D-001 to D-005) completed on their SOMINE porphyry copper-gold and epithermal vein gold-silver project in Northeast Haiti.

All five holes drilled to date at the Douvray porphyry copper-gold prospect intersected significant enrichments of silver within the supergene oxide zone. Hole D-002, located 440 m southwest of Hole D-005 which just returned 0.60% Cu, 0.08 g/t Au, 0.88 g/t Ag over 212.80 m in the sulphide zone (see Majescor Press Release dated January 31, 2012) as well as Hole D-004, located 359 m northwest of Hole D-002, display the most anomalous silver-bearing oxide zones. Holes D- 002 and D-004, drilled at -90º intersected the oxide zone down to a depth of 13.5 m returning the following results:

  • Hole D-002: Oxide Zone : 255 g/t Ag (or 7.4 oz/ton), 0.35 % Cu, and 0.02 g/t Au over 13.5 m (from 0.00 to 13.50 m), including:
    • 2,069 g/t Ag (or 60.4 oz/ton) 0.52 % Cu, and 0.04/t Au over 1.50 m (from 6.00 to 7.50 m)

  • Hole D-004: Oxide Zone : 277 g/t Ag (or 8.1 oz/ton), 0.18 % Cu, and 0.04 g/t Au over 13.5 m (from 0.00 to 13.50 m), including:
    • 1,428 g/t Ag (or 41.7 oz/ton) 0.52 % Cu, and 0.04/t Au over 1.50 m (from 12.00 to 13.50 m):

The average thickness of the anomalous silver-bearing oxide zone for all five drill holes at Douvray is 8.0 m true width, with an average grade of 191 g/t Ag, 0.24 % Cu, and 0.01 g/t Au. Furthermore, the drilling conducted to date indicates the supergene enrichment zone is contained within an area that blankets the entire Douvray prospect, measuring over 350 m by 500 m, and remains open in all directions.

Daniel F. Hachey, President and CEO of Majescor states: "We are thrilled with these latest results from the SOMINE drill programme. The presence of high grade silver in the oxide zone at the Douvray porphyry copper-gold prospect introduces an entirely new precious metals dimension, and adds value to the project. We are now considering possible modifications to the design of the exploration strategy for 2012, including systematic shallow infill drilling to further investigate the supergene silver enrichment associated with the porphyry copper-gold system".

The following table provides full details and other notable intercepts returned in holes D-001 to D-005:


Hole

Az

Dip
From
(m)

To
(m)
Width
(m)
Ag
(g/t)
Cu
(%)
Au
(g/t)

Zone
D-001 250º -70º 0.00 3.00 3.00 116 0.16 NSV Oxide
includes 250º -70º 0.00 1.50 1.50 149 0.15 NSV Oxide
D-002 - -90º 0.00 13.50 13.50 255 0.35 0.02 Oxide
includes - -90º 6.00 7.50 1.50 2069 0.52 0.04 Oxide
D-002
-

-90º

13.50

31.50

18.00

1.0

0.37

0.02
Oxide/
Sulphide
Transition
D-003 070º -45º 3.00 9.00 6.00 16 0.11 0.01 Oxide
D-004 - -90º 0.00 13.50 13.50 277 0.18 0.04 oxide
includes - -90º 7.50 9.00 1.50 520 0.19 0.05 Supergene
includes - -90º 12.00 13.50 1.50 1428 0.41 0.06 Supergene
D-004
-

-90º

13.50

18.00

4.50

26

0.12

0.04
Oxide/
Sulphide
Transition
D-004
-

-90º

18.00

36.00

18.00

1.0

0.35

0.11
Oxide/
Sulphide
Transition
D-005 - -90º 0.00 6.00 6.00 15 0.29 0.03 Oxide
D-005
-

-90º

6.00

13.50

7.50

0.5

0.41

0.04
Oxide/
Sulphide
Transition

Core sampling, analysis and quality control

Core samples from the SOMINE Project are cut in half using a rock saw. The half samples are sent to AcmeLabs' sample preparation and expediting facility in the Dominican Republic (www.acmelab.com). All analytical work is performed at Acme's laboratory in Santiago, Chile. All samples are analyzed by G601 and 1D01 methods. Any samples registering >1 wt % Cu is reanalysed using a four-acid total digestion by ICP-ES (Code 8TD-Cu). AcmeLabs is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Quality control protocols in place by Majescor (the operator of the SOMINE project) consist of the insertion of one blank, one reject duplicate and one of three different certified reference standard materials in every batch of 20 samples. Core recovery in the mineralized zones has been averaging greater than 90% to date.

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 with the State of Haiti on May 5, 2005 and valid until March 9, 2020. SACG 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.).

Dale Schultz M.Sc., P. Geo. (Manitoba and Saskatchewan), of Buscore Consulting (www.buscore.net) is the qualified person responsible for the technical data in this press release in compliance with National Instrument (NI) 43-101. This press release has been reviewed by Marc-André Bernier, M.Sc., P.Geo. (Québec and Ontario), Director of Majescor and a qualified person under 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.

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.

Neither 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.

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