Majescor Resources announces 77g/t gold over 10.5m drilled at Somine

Majescor Resources (CVE:MJX) announced Thursday together with its Haitian partner Somine SA, that 77 grams per tonne (g/t) of gold uncut was intersected over 10.5 metres at the Faille B gold prospect, part of their Somine project in northeast Haiti.
The drill program took plave in December 2009, but due to the earthquake in Port-Au-Prince in January of last year, results were delayed.
The high grade intercept, in hole FB-09-09, was reported alongside eight other holes.  Other notable results included 3.91 g/t gold over 4.5 metres in hole DDH FB-09-04; and 3.00 g/t gold over 6.0 metres in hole DDH FB-09-06.
Majescor said that the high grade sample from hole DDH FB-09-09 is being re-submitted for analysis.
The Faille B gold vein prospect is located 1.8 kilometres south of the Douvray copper-gold deposit on the project. Previous work by a team from the UN in the 1970s and 80s drilled 16 holes, and excavated more than 15 trenches across the strike of the quartz-gold veins system.
According to the companies, the team revealed that the system is exposed at surface for roughly 300 metres along a northwest strike, and is open along strike and at depth.
UN drilling cut vein gold mineralization to a true depth of 100 metres, and reported a non-compliant resource of 1.07 million tonnes at 2.36 g/t gold, or 81,196 ounces, to that depth.
The purpose of Majescor and Somine's drill campaign was to test the extensions of the known historical prospect.
Based on the new data, Majescor said it is now considering whether the Faille B represents a stand-alone project, which could be developed ahead of the Douvray and Blondin prospects on the property.
Majescor's stake in the Somine project is held through its subsidiary, the Simact Alliance Copper Gold Inc., which is a majority shareholder of Somine SA. Somine SA is the holder of 100% of the mineral rights to the Somine property. Simact Alliance is the technical operator of the project.
In separate news, Majescor said that it has closed the second tranche of a non-brokered private placement financing, raising proceeds of $0.5 million. The offering consisted of 2.55 million units at a price of $0.20 each.
The proceeds will be used to advance the company's exploration program on the Somine project, which consists of a permit covering 50 square kilometres. The research permit is valid until March 9, 2020 under an agreement with the State of Haiti.
Simact Alliance, as operator, has also carried out soil sampling work over four other prospecting permits surrounding the Somine research permit.