Major Precious Metals Corp. [SIZE-CSE] reported results of its independent NI 43-101 mineral resource estimate for the Skaergaard Project in eastern Greenland completed by SLR Consulting (Canada) Ltd. This is the culmination of 10 months of continuous, diligent work by SLR and Major Precious Metals.
The Indicated Resource estimate is 81.6 million tonnes at 2.10 g/t PdEq (palladium equivalent) resulting in 5.51 Moz contained PdEq ounces (4.10 Moz palladium, 1.09 Moz gold, and 0.33 Moz platinum) at a cut-off grade of 1.43 g/t PdEq.
Inferred Resources are 217.3 million tonnes at 2.05 g/t PdEq resulting in 14.4 Moz contained PdEq ounces (9.61 Moz palladium, 3.86 Moz gold, and 0.79 Moz platinum) at a cut-off grade of 1.43 g/t PdEq.
Relative to the historical (2013) resource estimate, updated mineralization modelling as well as significant further and more detailed examination of the deposit and today’s higher metal prices, have resulted in significant positive increases to Indicated and Inferred Mineral Resource tonnages and contained metal, at higher overall grades. For the new Mineral Resource model, SLR used a cut-off grade that is approximately 30% higher than in 2013 and SLR increased the minimum mining thickness from one metre in 2013 to two metres.
The re-modelling of the deposit has shown the substantial potential for the size and extent of the PGM and gold mineralization contained within the Skaergaard intrusion.
The company will shortly announce details of its exploration program for Summer 2021, estimated to consist of approximately 85 diamond drill holes for 12,500 metres of drilling, designed to upgrade the classification of, as well as expand the existing resource.
The company’s goal is to illustrate the ability to bolster overall values with the addition of vanadium, titanium, and other metals which demonstrate consistent grades across the entire deposit.
Important additional areas of interest to the North will be examined as well as the company’s newly acquired 754 sq km MEL 2021-10 licence area.
Large areas several square kilometres in size in the northern part of the mineral resource will also be investigated where there is already a demonstrated continuity of geology and mineralization, in order to investigate the possibility of an open-pit mining scenario.
This work is anticipated to culminate in October 2021, combined with mining studies, re-assaying and metallurgical studies, which will be completed in parallel, and will form the basis for a new resource estimate, as well as a Preliminary Economic Assessment.