Majestic Provides Update ON Drill Program at FAIR Adelaide Project
MAJESTIC PROVIDES UPDATE ON DRILL PROGRAM
AT FAIR ADELAIDE PROJECT
Vancouver, British Columbia – February 1, 2021 - Majestic Gold Corp. (“Majestic” or the
“Company”) (TSX.V: MJS, FSE: A0BK1D) is pleased to report that it has completed its initial drill program
at the Fair Adelaide Project, located in Western Australia. The goal of this initial program at Fair Adelaide
was to confirm and expand on mineralisation in holes drilled by previous operators.
The drill program consisted of a total of 21 holes drilled with 1,144 metres of aircore of drilling being
completed in testing two discr ete targets. 18 holes tested gold minerali sation at the Fair Adelaide East
prospect near the western boundary of the property and 3 holes tested nickel targets at Puzzle Bear prospect
in the center of the property. The Company awaits assay results from Intertek’s Kalgoorlie laboratory.
Results from the program are to be released once all data has been received and compiled by the Company.
The Fair Adelaide property covers a highly prospective portion of ultramafic rocks on the western limb of
the Goongarrie–Mt Pleasant anticline in the prolific Kalgoorlie gold district which also hosts significant base
metal occurrences. The greenstone rocks that host gold mineralisation at Fair Adelaide East play host
regionally to the Siberia, Mt Pleasant and Paddington gold deposits.
At the Puzzle Bear prospect, two sub-parallel nickel bearing gossans adjacent to thrust faults were discovered
in 2004. The geology at Puzzle Bear is along strike with rocks that hose nickel -cobalt mineralisation at the
nearby Cawse Laterite deposits (Norilsk Nickel Australia).
The Property is located approximately 60 kilometres northwest of Kalgoorlie in the Ora Banda region of
Western Australia. The eight contiguous tenements owned by Plutus Resources Pty. Ltd. (“Plutus”) comprise
a total area of 1,322 hectares and are within the Eastern Goldfields Province of the Archaean Yilgarn Craton
of Western Australia which covers a portion of the Ora Banda Domain of the Kalgoorlie Terrane. The
property is situated within the Norseman-Wiluna greenstone belt of the Eastern Goldfields Province.
About Majestic Gold
Currently focused solely in China, Majestic Gold Corp. is a British Columbia based company engaged in
commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. Additional
information on the Company and its projects is available at www.sedar.com and on the Company’s website
at www.majesticgold.com.
For further information, please contact:
Stephen Kenwood, P.Geo., President and CEO
Telephone: (604) 560-9060
Email: [email protected]
Website: www.majesticgold.com
306 - 1688 152nd Street
Surrey, British Columbia
Canada, V4A 4N2
Telephone: 604-560-9060
Facsimile: 604-560-9062
Email: [email protected]
Cautionary Notes
Certain statements contained herein may constitute forward‐looking statements and are made pursuant to the
"safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian
securities laws. Forward‐looking statements are statements which relate to future events. Such statements include
estimates, forecasts and statements as to management's expectations with respect to, among other things, business
and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and
expectations, including with respect to production, exploration drilling, reserves and resources, exploitation
activities and events or future operations. Information inferred from the interpretation of drilling results and
information concerning mineral re source estimates may also be deemed to be forward ‐looking statements, as it
constitutes a prediction of what might be found to be present when, and if, a project is actually developed.
In some cases, you can identify forward‐looking statements by terminolo gy such as "may", "should", "expects",
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uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance
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While these forward‐looking statements, and any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our business, actual results will almost a lways vary,
sometimes materially, from any estimates, predictions, projections, assumptions or other future performance
suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward‐
looking statements to conform these statements to actual results.