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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Perlite who wrote (56180)	2/5/2008 10:24:13 AM
From: UPTICK	Read Replies (1) \| Respond to of 78421

I hope you did reload ...for today is Maj's day. Majescor Intersects 17 m of 0.20% U3O8 near surface at Mistassini, Otish Mountains, Quebec Montreal, QC - February 5, 2008 - Majescor Resources Inc. ("Majescor" or "the Company") (TSX-V: MAJ) is pleased to announce that it has intersected 17 m of 0.20% U3O8 while drill-testing the extension of its 100%-owned Lac Mantouchiche uranium showing. The showing is located on the Company's Mistassini uranium property, in the Otish Mountains of Quebec. The mineralized drill interval starts at a depth of 47.0 m from surface, is open down dip and along strike and has a very high U/Th ratio of 63:1. The original Lac Mantouchiche discovery hole, drilled by Majescor and partner Superior Diamonds Inc. in 2002 (DDH MISF-02-08), intersected 0.20% U3O8 over 4.5 m starting at a depth of 19.8 m. Marc-André Bernier, President and CEO states: "To the best of our knowledge, Majescor's intersection of 17 m of 0.20% U3O8 at Lac Mantouchiche is one of the most significant new uranium discoveries in Canada, and it confirms the Otish Mountains' potential for unconformity-related, basement-hosted uranium mineralisation similar to the Kiggavik group of deposits in Nunavut. Our Mistassini project is one of Majescor's four new Quebec uranium projects, which include the South Rae property, where reconnaissance work in 2007 outlined a 30-km prospective uranium corridor with grades up to 0.65% U3O8 in outcrop. On the West Minto property, 71 "high priority" uranium targets have been identified forming 17 distinct anomalous zones." Majescor can earn up to a 65% interest in both the South Rae and West Minto properties from Azimut Exploration Inc. Three angled core holes were drilled in December 2007 to confirm the original Lac Mantouchiche uranium discovery and to test the down-dip continuity of the mineralization. The holes were oriented perpendicular to the regional stratigraphy of the area, as defined by a detailed airborne magnetic survey. Please visit majescor.com for a map illustrating the Lac Mantouchiche drill section. The following table summarizes the best intersections: Drill Hole Azimut Inclination Depth (m) From (m) To (m) Length (m) % U3O8 MIST-07-01 230 -50° 50 33.5 34.5 1 0.11 MIST-07-02 230 -60° 102 35.5 36.5 1 0.05 43.5 44.5 1 0.33 55 57 2 0.20 60 62.5 2.5 0.04 MIST-07-03 230 -70° 93 49.5 66.5 17 0.20 The Mistassini property is located mid-way between the Lower Proterozoic Papaskwasati sedimentary outlier and the Otish Mountains basin. The uranium mineralization at Lac Mantouchiche occurs within a highly altered intrusive breccia which is flanked by locally magnetic and weakly chloritized fine-grained migmatites. It is continuous over 40 m in the down-dip direction. The alteration within the intrusive breccia includes strong hematization and moderate to strong argillic and carbonate alteration. Secondary uranium mineralization (possibly carnotite) is visible in the core. A fourth hole, drilled off the main section, intersected 2 narrow weakly mineralized zones (0.03% U3O8/0.50 m and 0.03% U3O8/0.40 m). Further drilling is required to establish the orientation of the mineralized zone. The drill core samples were sent to ALS-Chemex laboratories for analysis, using both ICP-MS and ICP-AES analytical procedures. ALS-Chemex is ISO 9001:2000 and ISO 17025 certified according to QMI Management Systems Registration and the Standards Council of Canada. Strateco Resources Inc. ("Strateco") has a 30-day right-of-first-refusal ("RFR") to enter into an option agreement with Majescor on the Mistassini property (see Press Release dated November 26, 2007). Under the Option Agreement, Strateco can earn an undivided 60% interest in the uranium rights to the property by incurring an aggregate of $1.3 million in exploration expenditures over 3 years. 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 and well funded exploration company with uranium 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 through its ownership position in Uranium World Energy. In addition to uranium, Majescor has the largest portfolio of diamond properties in Quebec, as well as diamond projects in Nunavut and in Madagascar. Majescor has further diversified its property portfolio by recently acquiring gold and base metal properties in Quebec and in Madagascar.