Major Precious Metals Corp. (CSE:SIZE, OTC:SIZYF, FRA:3EZ) announced that it has successfully completed its Phase 1 diamond drilling program at its flagship Skaergaard project, in eastern Greenland.
The Vancouver-based mining company said the drilling program covered an area of around 10 square kilometers (km²) within the 7.5km east-west by 11km north-south Skaergaard intrusion, including key new target zones in the northern part of the project.
A total of 32 diamond drill holes over 8,195 meters (m) were completed in several key target areas in the northern part of Skaergaard.
READ: Major Precious Metals updates on its Phase I diamond drilling program at Skaergaard Project in Greenland
“The combination of diamond drilling and channel sampling resulted in 8,435m being completed and approximately 11,600 core and channel samples being collected for gold, palladium, platinum, and secondary element assay testing,” said the company.
Beneficial erosion since previous drilling campaigns were undertaken has resulted in considerably reduced overburden to the mineralized zones in some areas, it added.
The company said the new drilling aimed to uplift and expand the existing mineral resource in the four main mineralized horizons at Skaergaard (H5, H3L1, H3, and H0) and verify the potential for vanadium, titanium, iron, gallium, and other secondary elements in the intermediate mineralized levels. It was also designed to test the bulk tonnage and open-cut potential in certain areas in the northern part of Skaergaard, where part of the mineralization is laterally exposed by erosion, since the initial discovery of the deposit.
All the planned drill hole depths were decided in advance by correlating light-colored marker horizons present within the deposit with historical grades to model the four mineralized horizons in 3D using Leapfrog Geo, said the company.
Experts from SLR Consulting Ltd. did a site visit in late-August and reported that drilling, logging, core/channel sampling, and data management were in line with mining industry standards.
In a statement, Major Precious Metals CEO Tony Williams said: “We are very pleased to have successfully completed this phase of the evaluation at Skaergaard. It is important as we complete this stage of the project to remind investors of the sheer magnitude of the opportunity at Skaergaard. We can already demonstrate a palladium and gold resource of global significance, all independently modelled and supported by a NI 43-101 report.”
“We believe that the results from this recent drilling program will continue to demonstrate the uniquely uniform geology and precious metal content of the Skaergaard intrusion, and also confirm it as an advanced project with vast potential, which is now being relaunched by a new experienced team in a safe, mining-friendly jurisdiction.”
The Greenland minerals sector is gaining increasing geopolitical importance for its critical minerals and attracting financing from US and European Agencies. The new government has also reaffirmed its support for sustainable mining projects such as Skaergaard.
“We are reviving Skaergaard at a time when prices for platinum group metals, and palladium in particular, are robust and market fundamentals appear strong,” said Williams. “Palladium is at the forefront as a green energy metal as the decarbonization of the global economy gathers pace. At Skaergaard not only do we have a large Palladium rich resource, 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, all adding to potential increases in overall rock value”
The Skaergaard channel samples will shortly be sent to ALS Global’s laboratory in Loughrea, in Ireland for assay testing. Initial results are likely to be released in late-October.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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