In my mindset, the negligible cost in defining Majestic as a possibility (obligation of a few shallow drill holes / the commencement of studies) that most of the money will be be used for Mongolia. I think that is required for the greatest potential shareholder value especially if you can attract a Zijin or Bastion to the equation (similar to the XAM story). We are not obligated to Majestic North at this point but have 6 months to decide.
On the other perspective, BC8 last month commenced drilling the Imperial/Majestic prospect which is 2km south of this tenement. I thought some results would have been reported by now. Possibility a "bolt on" for BC8 if a trend or resource can be proven ????
"RC drilling has commenced targeting near-term extensions to the Imperial/Majestic Resource. An initial program of
~2,000m will target along-strike and down-dip extensions to the Resource (507koz @ 2.0g/t Au). Encouragingly,
visible gold1 has been intersected in the second drill hole, which was testing the northern strike extension of the
Resource. Assays are expected in late April 2025".
In 2013, Crest Minerals reported:
"Majestic North now has a potential exploration target of 150,000 tonnes at 4g/t gold to 400,000 tonnes at 2g/t gold and is considered a high priority exploration target".
Not sure if the junior sector survival curse or gold price got to Crest Minerals but the southern exploration target looks interesting - a few additional cheap holes ??? I wait with bated breath !!!!
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