Major Precious Metals Corp. (CSE:SIZE, OTC:SIZYF, FRA:3EZ) has provided an update on its Phase I diamond drilling program at the Skaergaard Project in eastern Greenland.
The company said it commenced drilling in July and has prioritized the northern part of the Skaergaard deposit, including several areas being drilled to determine the open-cut potential at the site.
Historically, these priority areas were never drilled at Skaergaard due to the focus on defining a resource in the southern part of the deposit.
Major Precious Metals noted that the successful completion of the drill holes within key priority areas by September has the potential to both upgrade and significantly expand the existing mineral resource estimate (MRE) for Skaergaard.
The current MRE includes Indicated Mineral Resources of 81.6 million tonnes at 2.10 grams per tonne (g/t) palladium equivalent (PdEq) resulting in 5.51 million ounces (Moz) contained PdEq ounces with Inferred Mineral Resources of 217.3 million tonnes at 2.05 g/t PdEq resulting in 14.4 Moz.
“The Report confirms that Skaergaard already contains a very large Palladium and Gold Resource with known mineralization open in all directions and we are excited to highlight some of the key target areas and priorities for our current drilling program,” said CEO Tony Williams in a statement.
Skaergaard drilling priorities
The company said it is prioritizing the following key target areas (Zone 1 to 4) at Skaergaard for its current drilling program to both upgrade the existing mineral resource categories and significantly increase the size of the mineral resource:
- Several NW-SE trending drill fences in the northern part of the deposit with drill holes spaced about 300 meters apart (Zone 1). Completion of these drill holes will allow the company to not only upgrade the resource classification, but possibly expand the mineral resources further to the north;
- Several drill holes in the northeast to determine the open-cut potential of the near-surface mineralization (Zone 2);
- Several drill holes immediately north of the glacier to determine the open-cut potential of the near-surface mineralization (Zone 3);
- Several drill holes southwest of the glacier to extend and upgrade the near-surface resource (Zone 4);
- Review the company’s active diamond drilling operations;
- Inspect the company’s core logging and sampling facilities, and ensure its geological consultants are adhering to strict QAQC procedures and following CIM exploration best practices;
- Verify the current drilling plan in developing a robust updated MRE for Skaergaard with the main priorities to upgrade and expand the existing resource;
- Assess locations for future mining infrastructure and investigate open-cut and underground mining options for the Skaergaard Project as part of its upcoming Preliminary Economic Assessment (PEA).
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham