Major Precious Metals completes 8,400m resource definition program at Skaergaard
VANCOUVER, British Columbia, Sep 17, 2021 (GLOBE NEWSWIRE) – Major Precious Metals Corp. (“Main precious metals“or the”Society“) (CSE: SIZE | OTC: SIZYF | FRANKFURT: 3EZ) is pleased to announce that it has successfully completed its Phase 1 diamond drilling program on its Skaergaard project (“Skaergaard”) In Greenland with all planned drilling depths covering an area of approximately 10 km² in the Skaergaard intrusion of 7.5 km (east-west) by 11 km (north-south), including new target areas keys in the northern part of the project.
A total of 32 diamond drill holes (8,195m) were completed in several key target areas in the northern part of Skaergaard. These target areas were discussed in the Company’s press release dated August 26, 2021.
Approximately 240 m of channel samples were also collected from four distinct zones where mineralization outcrops to the surface in the northern portion of the deposit.
The combination of diamond drilling and channel sampling has 8,435 m nearing completion and approximately 11,600 core and channel samples are being taken for analytical testing of gold, palladium, platinum and secondary elements. Beneficial erosion from previous drilling campaigns has resulted in a dramatic reduction in overburden in mineralized zones in some areas.
The new drilling aimed to augment and extend the existing mineral resources in the four main mineralized horizons of Skaergaard (H5, H3L1, H3 and H0) and to test the potential for vanadium, titanium, iron, gallium and d ‘ other secondary elements in the intermediate zone. mineralized levels.
This drilling program was also designed to test the overall tonnage and open pit potential in certain areas of the northern part of Skaergaard, where part of the mineralization has been exposed laterally by erosion, since the initial discovery of the deposit.
All planned drill depths were determined in advance by correlating light-colored marker horizons present in the deposit with historical grades to model the four mineralized horizons in 3D using Leapfrog Geo. The Company is pleased to announce that all planned drill hole depths were reached during the Phase 1 drilling program and that the intercepted mineralized horizons have been fully sampled for analytical testing.
SLR Consulting Ltd. (“reflex”) The Qualified Persons (QP) also completed their personal inspection (site visit) of the Skaergaard project the week of 23 August. SLR Qualified Persons were of the opinion that drilling, logging, core / pipe sampling and data management all met mining industry standards and ICM best practice guidelines. .
Skaergaard core and channel samples will soon be sent to ALS Global’s lab in Loughrea, County Galway, Ireland for analytical testing. The first results should be published at the end of October, pending confirmation of the exact schedule by the laboratory.
Tony Williams, Chairman and CEO of Major Precious Metals, said: “We are very pleased to have successfully completed this phase of the evaluation at Skaergaard.
I think it’s important, as we complete this stage of the project, to remind investors of the magnitude of the opportunity at Skaergaard. We can already demonstrate a globally significant palladium and gold resource, all independently modeled and supported by an NI 43-101 report.
We believe that the results of this recent drilling program will continue to demonstrate the unique uniformity of geology and precious metal content of the Skaergaard intrusion, and will also confirm it as an advanced project with vast potential, which is now relaunched by a new experienced team in a safe and mining friendly jurisdiction.
Greenland’s minerals sector is acquiring growing geopolitical importance for its essential minerals and is already attracting significant funding from US and European agencies and the new government has reaffirmed its support for sustainable mining projects such as Skaergaard.
Finally, I would just like to add that in my opinion everything begins and ends in the market. We are relaunching Skaergaard at a time when the prices of Platinum Group metals, and palladium in particular, are strong and market fundamentals look strong going forward. Palladium is at the forefront as a “green energy metal” as the decarbonization of the global economy accelerates. At Skaergaard, not only do we have a large resource rich in palladium, but we also have a lot of gold and exposure to other critical metals such as vanadium and titanium in the main and intermediate mineralized horizons, which increases the potential for increasing overall “rock value”. .
We look forward to further informing investors as the results of this summer’s Skaergaard drill program are finalized.
Qualified Person Declaration
All scientific and technical information contained in this press release has been prepared and approved by Paul Ténière, P.Geo., President of Major Precious Metals Corp, who is a qualified person within the meaning of NI 43-101.
On behalf of the board of directors
President and CEO
Office 810 – 789 Pender Street West
Vancouver, BC V6C 1H2
Phone. : 1-877-475-0963
About Major Precious Metals Corp.
Major Precious Metals is a Canadian mining company that continues to explore its flagship Skaergaard project in Greenland, which contains one of the largest deposits of palladium and gold in the world outside of the major PGM-producing regions of Russia and ‘South Africa. The Company is focused on creating shareholder value by accelerating the progress of the Skaergaard project throughout the mining development cycle.
Additional information on the main precious metals is available at www.majorprecious.com and SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange nor its regulatory services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information statement
This press release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws in Canada and the United States. When used in this press release, the words “anticipate”, “believe”, “estimate”, “expect”, “target,” plan “,” foresee “,” power “,” ‘plan , forward-looking statements or information. Such forward-looking statements or information may relate to the development of a mineral resource estimate for the Skaergaard project, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based on a number of assumptions and estimates which, although considered reasonable by the Company, are inherently subject to risk. commercial, economic, competitive, political and social, contingencies and uncertainties. Many factors, known and unknown, could cause any results, performance or achievement to differ materially from the results, performance or achievements which are or may be expressed or implied by these forward-looking statements. The Company does not intend, and assumes no obligation, to update such forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other event affecting such statements and information other than those required by laws, rules and regulations.