The Carajás Mineral Province is historically famous for its 'world-class' mineral deposits, including the Salobo Copper deposit (1.2 billion tonnes of ore), Carajás Iron-Ore deposit (18 billion tonnes), Igarape Bahia Gold deposit (14 Mt), Azul Manganese deposit (65 Mt), and the Vermelho Nickel deposit (44 M tons).

The Company's nickel-copper claim block is situated within close proximity to several world class mineral deposits, located just 60km away from the Serra Pelada Gold Deposit and 70 km away from CVRD's major Salobo Copper Deposit. See Figure 1 below.

The primary target within the Company's claim block is defined by a nickel-copper brecciated gossanous rock containing masses of iron oxides (goethite, hematite, limonite and jarosite) displaying frequent boxworks, derived from the weathering of nickel-copper sulfides (see picture below).

Nickel-copper gossan outcrops

Several meter wide gossan outcrop along the anomalous ridge

The host is an intensely silicified, fractured ultramafic rock. The mafic-ultramafic sequence is in contact with a magnetic granitic rock to the East and with a volcano-sedimentary sequence of Proterozoic age to the West. The region is well known by a large number of Cu-Au-Ni-Mn economic deposits associated to Archean/Proterozoic units associated with the Carajás Complex.

Majestic has carried out soil and rock samplings of the area with very promising results. The lab analysis has identified anomalous values of nickel, copper, zinc, and other elements encompassing a large soil anomaly in excess of 1,500 meters. The anomaly is still open on both extremities, clearly demonstrating the potential for a sizeable nickel-copper sulfide deposit.

Highly silicified, brecciated ultramafic rock with gossaneous material filling open spaces

Sampling a copper-nickel rich gossan. Details of a silica rich fragments surrounded by a mass of goethite with boxworks

The infrastructure and access to the claim area is good. Deposits inside the Carajás Mineral Province receive a special tax treatment from the Government.

A gossan in the Amazon region is, almost always, highly depleted of its mobile elements; gossans on top of the major Igarapé Bahia/Alemão Copper-Gold Deposit (14M tonnes), 100 km away, returned copper and nickel values varying from 100-1000ppm. With nickel values significantly higher within the Company's target area (exceeding 2600ppm), combined with the chemical signature and the boxwork textures associated with the gossan, there is evidence to support the possible existence of a nickel-copper rich massive sulfide deposit underlying Majestic's license area.