Drill Program At The Fair Adelaide Project

VANCOUVER - Majestic Gold Corp. will commence a 1,200 meter aircore (AC) drill program at its Fair Adelaide Project, located in Western Australia. It will be the first phase of drilling undertaken by the Company at Fair Adelaide and will consist of a number of short holes to inexpensively confirm and expand on mineralization in holes drilled by previous operators at the Fair Adelaide East and Puzzle Bear prospects. The program is scheduled to begin in early January 2021.

The Property is located approximately 60 kilometers northwest of Kalgoorlie in the Ora Banda region of Western Australia. The eight contiguous tenements owned by Plutus Resources Pty. Ltd.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.

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 mineralization at Fair Adelaide East play host regionally to the Siberia, Mt Pleasant and Paddington gold deposits.

At the Fair Adelaide East prospect target area, initial drilling targeted near surface gold mineralization intersected in a well oxidized ultramafic unit at the contact of a granodiorite. Drilling along the granite-ultramafic contact identified a zone of sericite-pyrite alteration, with lesser quartz veining, that can be traced for several hundred metres in a north-south direction. These alteration assemblages are consistent with those observed on the edges of quartz veins and within small shears through the granodiorite.

This program will drill several shallow holes through the contact zone between the ultramafic and granitoid as well as drill some deeper holes to test for primary mineralization in unoxidized ultramafic, similar to the style of gold mineralization found at Tarmoola, in the northern Kalgoorlie-Wiluna Belt, where mineralization is hosted in sub-vertical contact sheared margin of a large granitoid.