Vancouver – Haiti-focused Majescor Resources (MJX-V) has announced several encouraging copper and silver hits over two days from its 71%-owned Somine project, sending its share price upwards.
The results came from the Douvray porphyry copper-gold prospect on the Somine project, which is owned 29% by the company’s Haitian partner Somine SA. The project also hosts the Blondin target to the north and the Faille B target to the south.
February 1 results from the oxide zone included hole 4 that hit 13.5 metres carrying 277 grams silver per tonne, 0.18% copper and 0.04 gram gold per tonne from surface, and hole 2, cut 359 metres southeast of hole 4, that also cut 13.5 metres from surface, this time averaging 255 grams silver, 0.35% copper and 0.02 gram gold. Hole 2 included a 1.5-metre intercept grading 2,069 grams silver within the greater interval, and hole 4 included a 1.5-metre interval carrying 1,428 grams silver.
The day before, results from the near-surface primary sulphide zone at the Douvray prospect included hole 5, sitting 440 metres northeast of hole 2, that hit 212.8 metres grading 0.6% copper, 0.08 gram gold and 0.88 grams silver from 25.5 metres depth. Other results included 40.6 metres carrying 0.31% copper, 0.65 gram silver, and 0.06 gram gold from 36 metres depth in hole 4, and 28.3 metres grading 0.35% copper, 0.55 gram silver and 0.01 gram gold from 71 metres depth in hole 3.
The late January results propped up the company’s share price by a penny and a half, while the next day’s results sent the price up 4¢, overall ending up 24.4% at 28¢ with 4.5 million shares traded.
In early January the company announced primary sulphide results from hole 2, which included 295.1 metres carrying 0.78% copper, 0.1 gram gold and 2.82 grams silver from 91.5 metres. At the time the company reported the oxide zone of hole 2 at 13.5 metres grading 0.35% copper, 0.02 gram gold and 33.26 grams silver, though noting that two samples returned high silver grades and it was initiating overlimit checks.
Majescor reports that all five holes drilled so far at the Douvray porphyry copper-gold prospect have hit significant enrichments of silver within the supergene oxide zone. The average thickness over the five holes of the anomalous silver-bearing oxide zone is 8 metres true width, with average grades of 191 grams silver, 0.24% copper and 0.01 gram gold. The company notes that drilling indicated the the supergene enrichment zone blankets the entire 350-metre by 500-metre Douvray prospect and remains open in all directions.
The Somine property lies within a Mesozoic-Cenozoic volcanic-intrusive arc trend that contains several epithermal and porphyry copper occurrences in Haiti, plus the Pueblo Viejo gold-copper mine in the Dominican Republic.
The phase one drilling program at Somine consisted of 3,500 metres, while the company planned to start drilling the Blondin in mid-January, which will lead into a 6,500-metre phase 2 drill program. The company is also mobilizing a second drill rig to accelerate the program that should arrive on site shortly.
The company also holds a uranium project in Quebec and holds the mineral rights to a gold and base metal project in Madagascar.
Last August the company’s share price briefly doubled to 29¢ following some narrow high-grade gold hits from its Faille B target at Somine.
Be the first to comment on "Majescor hits high-grade silver in Haiti"