MAJESTIC GOLD RELEASES
UNDERGROUND DRILL RESULTS AT SONG JIAGOU
February 15, 2007
TRADING SYMBOL - TSX.V : MJS
Majestic Gold Corp.
(TSX.V: MJS) is pleased to announce drill results from eleven underground diamond
drill holes from its 2006 exploration program at the Song Jiagou Project
located in eastern Shandong Province, China. Majestic’s program was
designed to test high grade gold-bearing structures adjacent to a broad zone of
potentially bulk-mineable gold mineralization was the subject of an independent
resource estimate, released on April 25, 2006.
The 862-metre underground
core drill program was conducted on the upper two levels of the four-level
underground gold mine. The program successfully delineated potential bulk
mineable mineralization and the high-grade controlling structures in, and below,
levels 1 and 2 of the Song Jiagou mine.
The highlights of
the program include:
- 50.7 meters at a grade of 1.19
grams gold per tonne in hole UL206-C,
- including 1.4 metres
of 15.8 grams gold per tonne, and
- 1.8 metres of 7.14 grams in
hole UL206-E.
The following is a
summary of the 2006 program’s drill results:
|
Hole #
|
From (m)
|
To (m)
|
Int. (m)
|
Au (g/t)
|
Target
|
|
UL106-C
|
24.78
|
50.80
|
26.0
|
0.56
|
Bulk
|
|
Including
|
24.78
|
27.78
|
3.0
|
3.24
|
High |
|
UL106-D
|
26.68
|
41.00
|
14.3
|
0.56
|
Bulk
|
|
Including
|
33.00
|
39.00
|
6.0
|
1.12
|
Bulk
|
|
UL106-D
|
59.00
|
72.00
|
13.0 |
0.89
|
Bulk |
|
Including
|
64.00
|
65.00
|
1.0
|
9.98
|
High
|
|
UL206-C
|
11.60
|
62.30
|
50.7 |
1.19
|
Bulk |
|
Including
|
11.60
|
27.00
|
15.4
|
2.22
|
High
|
|
Including
|
16.00
|
17.29
|
1.3
|
12.70
|
High |
|
UL206-C
|
50.47
|
51.86
|
1.4
|
15.80
|
High |
|
UL206-C
|
75.95
|
77.13
|
1.2
|
2.76
|
High
|
|
UL206-E
|
2.94
|
44.00
|
41.1
|
0.56
|
Bulk
|
|
Including
|
9.43
|
16.70
|
7.3
|
2.26
|
High
|
|
Including
|
12.80
|
14.62
|
1.8
|
7.14
|
High |
The full drill
results are tabulated in Appendix A or visit www.majesticgold.net.
“Our new
results further bolster our confidence in the Song Jiagou project,” said John Zimmerman, head of exploration for Majestic
Gold. “We believe we are well on our way to establishing both
significant amounts of bulk mineable, near surface resources and higher grade
underground material. Given that these holes averaged only 78 metres in length
and were small diameter holes, the results are very encouraging and additional
drilling is planned to expand on these results.”
In addition to the
core drilling, the Company has completed its underground channel sampling program
at Song Jiagou and results are forthcoming. Majestic has also completed a
surface and underground mapping program.
Of particular
importance, are the eight to ten individual major fault structures that have
now been identified and mapped. Each structure appears to extend for several
hundred metres on strike and at depth. These faults are significant because
they host higher gold values, locally hosting high grade gold values of 3 grams
gold per tonne to over 20 grams per tonne across widths of 0.5 metres to over 5
metres.
All new data is
currently being compiled and will be used to create a geological model that can
be used to in a revised resource estimate this year.
This news release was reviewed by
Qualified Persons as defined by National Instrument 43-101, including Rod Husband, P. Geo., who has prepared the technical
information contained herein.
On Behalf of the Board of Directors
Signed “Rod Husband”
Rod Husband, P.Geo.
Director
Contact:
Investor Relations: (604) 681-4653 or
1-866-282-8398
Email: info@majesticgold.net
or visit our Website: www.majesticgold.net
The TSX Venture
Exchange has not reviewed and does not accept 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.