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The Xingu-Medicilandia Iron-Ore resource was first discovered by Majestic's co-founder, Pedro Jacobi, when conducting geological mapping in the Amazon region in the late 1990s. Majestic has secured multiple mineral claims totaling 20,750 hectares, highly prospective for the discovery of a large commercial iron-ore deposit. The iron resource is located in a favorable geographical location, close to a main access road, to a port, and to the Amazon River. The claim area is approximately 70 kilometers directly west of the city of Altamira in northern Para.
Geology and Mineralization
The local geology consists of sediments deposited in a cratonic rift-basin, the Amazon Basin, established over acid volcanics and granites of Proterozoic age. Locally, a thick pile of sub-horizontal mafic volcanic rock defines the lower contact of an iron formation. The Company's iron resource is associated with this very large and continuous iron formation.
Geological and geochemical work conducted by the Company has confirmed that the iron-ore has a medium grained texture and varies from a massive magnetite (70% iron) to a hematitic lumpy ore (high grade) which is also derived from the magnetite iron formation. The hematitic facies is very rich in iron. It is composed, mostly by martite after magnetite. Lab analysis of various samples from the resource reveal iron content ranging from 57% to 70%.
The main magnetite-hematite iron formation horizon is very large and can be traced over at least a 20,000m strike. The very rich iron formation (iron >65-70%) is contained within a thicker hematitic sandstone horizon which can be traced over more than 40km along the same stratigraphic unit. Surface access to much of the resource is hindered due to lack of roads and heavy vegetation, although roads have been cut along the iron horizon which makes it possible to determine the extension of the resource.
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Very rich iron ore
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Massive hematitic iron ore |
The mineralized unit is sub-horizontal, gently dipping 1-2o to the North, towards the center of the Amazon Basin. In some road cuts the width of the iron layer exceeds 1000m. The average thickness of the deposit is still unknown, although in the best road cuts, with GPS aid, the mineralized layers have been measured to a thickness greater than 20m. In these cuts the iron rich envelope is greater than 50m.
Management believes the Xingu-Medicilandia Iron resource has a potential resource of several hundred million tonnes of high quality iron ore along its more than 20km of strike. The near-term work program calls for geological mapping, ground geophysics, trenching, and pilot drilling.
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