Applies For 754 sq km Area Around Skaergaard
Major Precious Metals Corp. (CSE:SIZE) has filed an application for a new Mineral Exploration Licence (MEL) adjacent to the Skaergaard Project in Greenland.
The MEL application area (MLSA-292) is approximately 754 square kilometres in size and was filed under Skaergaard A/P, the wholly-owned Greenland-based subsidiary of the company. This new area will represent an approximate seven -fold increase in the company’s licence position once the Skaergaard acquisition has been completed.
The MEL application is located on the southeast coast of Greenland, on the eastern and western shore of the Kangerlussuaq Fjord, midway between the townships of Ittoqqortoormiit and Tasiilaq (500 km southwest) and immediately adjacent to MEL 2007/01 (107 sq.km) and MEL 2012/25 (16 sq. km) that comprise the Skaergaard Project.
The company has applied for an MEL in this area to expand its regional footprint for exploration of gold, palladium, platinum and other minerals near the Skaergaard intrusion. Importantly, this new area may be examined for potential sites for future infrastructure as part of the upcoming Preliminary Economic Assessment (PEA) for Skaergaard.
Once the MEL application has been approved, the company plans to complete reconnaissance geological mapping and prospecting in this area to determine its mineralization potential as part of its planned summer 2021 exploration and drilling program at Skaergaard.
Mineral exploration licences are typically granted no later than three months after the registration of a complete application, and the Company has been informed that the required three-week consultation period has already commenced. MEL’s are granted for a period of five years and are renewable, and require yearly exploration expenditure commitments calculated based on the size of the licence area and the licence age.
