 |
| |
|
Madagascar
This island nation is a new up and coming mining jurisdiction in Africa. It has a great deal of geological diversity and is mostly under-explored. The democratic government has recently been re-elected and is strongly supportive of business and foreign investment. The mining laws are stable and comprehensible. There are at least two very large new mining projects underway in the country; Sherritt is building a US$3 billion+ nickel-cobalt laterite mine on the west coast of Madagascar and Rio Tinto is reported to be planning to spend over US$1 billion to develop a titanium sands project on the east coast. Alcan is also apparently looking to develop a large bauxite deposit on the island.
In addition, other junior companies such as Uranium Star Corp. are actively exploring for VMS deposits in an area immediately south of the Besakoa property.
The Properties
Besakoa -- VMS Copper/Zinc/Gold
The Besakoa property covers approximately 60 square kilometres in south central Madagascar and can be accessed by road from the port city of Toliara.
The property is underlain by Neoproterozoic volcano-sedimentary shield rocks, a geological setting similar to Sunridge's Asmara Project and Nevsun's Bisha Project both located in Eritrea. A 700 metre by 30 metre gossan similar to those found on the Asmara project was discovered in the 1950s by the Bureau de Recherches Géologiques et Minières (BRGM)and they subsequently drilled 19 holes. which established the presence of primary sulphide mineralization underlying the gossan outcrop. The best results were 12.91m averaging 1.3%Cu and 1.44%Zn and trench samples with 15.22% Cu over 9m. Majescor drilled another 8 short holes (total of only 431 meters) in 2007 to verify the BRGM drilling. The best intersection from this drilling was 21.45m with 0.51g/t Au, 21.44g/t Ag, 0.69%Cu and 1.12%Zn. However, the property has not been systematically explored and there are many gossans outcropping on the project that have not been sampled or drilled. The Company intends to make use of geological mapping, soil geochemistry and possibly geophysics on the property as these techniques were used to discover the Company's large Emba Derho zinc-copper-gold VMS deposit within the Asmara Project and in the discovery of Nevsun's large Bisha zinc-copper-gold VMS deposit.
Daraina -- Gold & Copper
This project is located in northeast Madagascar and covers a series of shear zone hosted epithermal/mesothermal gold mineralized veins and is the site of much artisanal gold mining. There are numerous gold and copper geochemical anomalies identified by the BRGM in the 1970s. Majescor has conducted its own surface sampling program and the results confirm the presence of gold and silver values in both rock and stream samples.
Analalava -- Nickel & Copper
This project is located in northeast Madagascar and covers an area of historic nickel-copper showings associated with Cretaceous age mafic intrusives. Copper and nickel mineralization is reported to occur along a 200 to 400 meter wide by over 3 kilometre long corridor. Major companies are exploring the same area for nickel-copper and platinum group elements and their land position surrounds that of Majescor's.
Ankaramy -- Gold -- Lead -- Zinc
This project is located in northeast Madagascar and lies along the contact between the Precambrian basement and the overlying Paleozoic sedimentary cover. Based on the US Geological Survey data, the property shows potential for epithermal gold-silver and Sedex-type lead and zinc mineralization which supported a mining operation there in the 1940s.
|
| |
