Indicated MRE Of 81.6 million tonnes At 2.10 g/t PdEq
Major Precious Metals Corp. (CSE:SIZE) has released impressive results from its independent Mineral Resource Estimate (MRE) for the Skaergaard PGM Project in Greenland
The MRE completed by SLR Consulting (Canada) Ltd has been the culmination of 10 months of continuous, diligent work by SLR and Major Precious Metals.
Highlights
- Indicated Mineral Resource estimate of 81.6 million tonnes at 2.10 g/t PdEq 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 Mineral Resource estimate of 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.
The company said that relative to the historical (2013) resource estimate, updated mineralisation 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.
SLR also produced a three-dimensional lithological model of the Skaergaard intrusion, which included modelling of four distinctive light-coloured marker horizons to help correlate four mineralized horizons across the deposit.
Upcoming 2021 Drilling Programme
The re-modelling of the deposit has shown the substantial potential for the size and extent of the PGM and Au mineralisation contained within the Skaergaard intrusion.
The Company will shortly announce the details of its exciting exploration program for Summer 2021, estimated to consist of approximately 85 diamond drill holes for 12,500 m of drilling, designed to:
- Upgrade the classification of, as well as expand the existing resource.
- Illustrate the ability to bolster overall values with the addition of vanadium, titanium, and other metals which demonstrate consistent grades across the entire deposit.
- Examine important additional areas of interest to the North as well as the Company’s newly acquired 754 sq km MEL 2021-10 licence area.
- Investigate large areas several square kilometres in size in the northern part of the mineral resource, where there is already a demonstrated continuity of geology and mineralisation, in order to investigate the possibility of an open-pit mining scenario.
The combination of the above-noted work, anticipated to culminate in October 2021, combined with mining studies, re-assaying and metallurgical studies, which will be completed in parallel, will form the basis for a new Mineral Resource Estimate, as well as a Preliminary Economic Assessment (PEA).
