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Tuesday, 28th April 2009 (714 views)

Majescor Resources has acquired an interest in Simact Alliance Copper Gold and its principle shareholders.

Under the terms of the deal, Majescor will purchase a ten per cent interest in Simact, a private company run by Canadian financiers and Haitian-American developers.

The firm will also receive an option to acquire the remaining 90 per cent of the mineral development vehicle.

Simact owns a 66.4 per cent share in affiliate mining company Societe Miniere du Nord-Est, which owns the Somine property in the north-east mineral district of Haiti.

The Somine prospect contains the Blondin, Douvray and Faille-B gold deposits and a number of recently identified gold showings.

Marc-Andre Bernier, Majescor Resources president and chief executive, said: "The deal with Simact and its principals offers a new and unique opportunity for the company to participate in the evaluation and development of a key property."

Based in Montreal, Quebec, Majescor Resources is a junior explorer focused on emerging mineral districts, including four gold and base metal properties in Madagascar and the Mirabelli gold prospect in Quebec.

 

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