Majescors Lac Mantouchiche Uranium Drill Intersection Improves to 0.215% U3O8 Over 18.5 M: Drill Rig Mobilized to South Rae, Ungava, Quebecadmin
Majescor Resources Inc. is pleased to provide supplementary data on its significant uranium drill intersection at its 100%-owned Lac Mantouchiche uranium prospect located on the Mistassini property, in the Otish Mountains of Quebec (uranium rights under option to Strateco Resources Inc.; 721 claims, 384 km2). Based on recently received additional core assays, the Lac Mantouchiche intersection has been improved from 17 m of 0.20% U3O8 to 18.5 m of 0.215% U3O8. The Company is also pleased to report that it is mobilizing its recently-purchased core drilling rig to its South Rae property, located in the emerging Ungava uranium region of Nunavik (under option from Azimut Exploration Inc.; 2,854 claims; 1,315 km2). The drilling will start testing some of the most prospective targets out of the 392 “high-priority” radiometric uranium anomalies outlined to the North of the 30 km-long prospective corridor identified in 2007.
In addition to Mistassini and South Rae, Majescor’s uranium property portfolio includes two other active exploration projects in Quebec: West Minto (under option from Azimut Exploration Inc.) and Lac Laparre (100%-owned; under option to Santoy Resources Inc. and Otish Energy Inc.). The West Minto property located in the emerging Central Quebec uranium region of Nunavik (952 claims; 432 km2), hosts 71 “high-priority” radiometric uranium anomalies outlined in 2007, forming 17 target clusters. The anomalous radiometric uranium trend on the main property block delineates a 45 km-long prospective corridor. Field follow-up investigations of the high-priority uranium targets will commence shortly. Depending on prospecting results and on drilling progress at the South Rae property, the Company may mobilize its heliportable drill rig to West Minto in August to begin testing the best ground targets. Majescor’s Lac Laparre property (317 claims; 147 km2) is located within the Otish Mountains sedimentary basin; a comprehensive geological modelling and structural study has identified a series of uranium targets for follow-up investigation. The property lies 16 km northeast and on trend with Santoy/Otish Energy’s Marc-Andrã¯Â¿1/2 uranium showing, where grab sample assays of up to 0.26% U3O8 were obtained from highly altered and brecciated sediments and from an adjacent gabbroic dike, a geological setting similar to Strateco’s Matoush uranium prospect.
Marc-Andrã¯Â¿1/2 Bernier, President and CEO states: “Momentum for uranium exploration is picking-up across Canada and the rest of the world in response to growing energy requirements and soaring oil prices. Moreover, it is projected that there will be a growing shortfall in global mine output versus demand from current and future nuclear power generating stations. Majescor and its partners hold key land positions with favourable geology and promising early-phase exploration results in three emerging uranium districts of Quebec: the Ungava and Minto regions of Nunavik and the Otish Mountains. All four of our uranium projects will undergo comprehensive exploration work in 2008 with the goal of discovering one or more economic deposits and as such establish Quebec as a new and significant supplier of uranium for greenhouse-gas free power generation”.
This press release was approved by Zoran Madon, P.Geo., Majescor’s Exploration Manager, acting as the “Qualified Person” for the Company under National Instrument 43-101.
Majescor Resources is a dynamic uranium exploration company with two properties in Quebec’s Otish Mountains, two large uranium projects under option in the Nunavik district of northern Quebec, as well as a significant uranium interest in the Thelon Basin of Nunavut.
Contacts: Majescor Resources Inc. Maureen Doherty Manager, Corporate Communications 613-241-5333 613-241-8632 (FAX)
Capital Capital Inc. Todd Opalick 613-241-5333 613-241-8632 (FAX)
Majescor Resources Inc. Marc-Andre Bernier President & CEO 613-241-5333 613-241-8632 (FAX) email@example.com
Source: Majescor Resources Inc.