Major Precious Metals names new CEO
Major Precious Metals Corp. [SIZE-CSE; SIZYF-OTC] on Friday May 7 said Anthony Williams has been named CEO and Chairman of the company’s board of directors.
Williams is the founder and Chairman of Dragon Group, a privately-owned group of companies with interests in international mining finance and project management.
The company also said it bringing on Dr. Gustavo Delendatti as vice-president, exploration. Delendatti is a senior geologist with over 25 years of experience in the evaluation, exploration and development of mineral deposits in a range of mineralization styles in South America, North America and Australia.
The appointments have been announced after Major Precious Metals recently released an update on developments in Greenland with regards to exploration and mining activities and their potential impact on the company’s flagship Skaergaard Project.
The company says Skaergaard is one of the world’s largest undeveloped gold and palladium resources. It hosts an indicated resource of 5.51 million ounces of palladium equivalent (PdEq) (81.6 million tonnes at 2.1 g/t PdEq) and an inferred resource of 14.4 million ounces of PdEq. (217.3 million tonnes at 2.05 g/t PdEq).
The deposits contain high grade palladium, gold and platinum with potential for vanadium, iron, titanium, and other secondary elements.
The project is located on the east coast of Greenland. So far $16 million has been invested in drilling, metallurgy and studies.
The company said it is planning a large diamond drilling program at Skaergaard, starting in June and early July. Dr. Delendatti has worked alongside the company for the past year in developing the updated resource model at Skaergaard.
On Friday, the company said a recently formed coalition government in Greenland remains very supportive of exploration and mining development in the country. “This is evident by the Greenland Mineral Licensing Safety Authority’s recent conditional approval of the company’s exploration and drilling plans for Skaergaard,” Major Precious Metals said.
The company said it will soon announce details of its exploration plans for 2021, which is expected to consist of approximately 85 diamond drill holes or 12,500 metres of drilling.
The program is designed to upgrade he classification of, as well as to expand the existing resource. It also aims to bolster overall values with the addition of vanadium, titanium, and other metals which demonstrate consistent grades across the entire deposit.
On Friday, Major Precious Metals shares eased 4.4% or $0.02 to 43 cents on volume of 312,750. The shares trade in a 52-week range of 82 cents and 13 cents.