Apr 5 2022Reviewed by Alex Smith
Major Precious Metals Corp., a Canadian mining company pursuing exploration of its flagship Skaergaard Project in eastern Greenland, the subject of a NI 43-101 Report filed on SEDAR on May 25th, 2021 (“Report”), offers an update on the project.
Image Credit: Shutterstock.com/ Jason Benz Bennee
Shareholders who read this report will notice that four million ounces of palladium and one million ounces of gold have already been identified as Indicated Resources, with a further 10 million ounces of palladium and 4 million ounces of gold in the Inferred Resource category, all of which have been independently evaluated and modeled at precious metal prices well below today’s values.
This clearly indicates that Skaergaard is a significant and important global resource.
Tony Williams, CEO, Major Precious Metals Corp.
Over 11,000 new core and channel samples were gathered at the Skaergaard Project and delivered to the ALS Global Laboratory in Loughrea, Ireland, for analysis to aid the conclusions in the Report and presumably widen the resources as reported earlier in the Company’s press releases of August 26, September 17th, 2021, and January 6th, 2022.
This analysis process is ongoing and although reporting of results has been somewhat delayed largely due to Covid related issues. We expect to report initial results soon and anticipate all assaying will be completed by mid-May 2022. The interpretation of these results will clarify the next steps needed for potential economic extraction of the Skaergaard Resources.
Tony Williams, CEO, Major Precious Metals Corp.
The Company owns the entire resource at Skaergaard, on Greenland’s east coast, which is rich in palladium. Greenland is a safe and mining-friendly country. As stated in the Report, the deposit also encompasses other potentially recoverable critical metals in addition to significant gold content.
The geopolitical significance of securing a reliable supply of critical metals like palladium has only been reinforced by Russia’s recent conflict in Ukraine. Russia currently controls around 40% of the global mined palladium.
We look forward to informing Shareholders in due course as results emerge.
Tony Williams, CEO, Major Precious Metals Corp.
The Company also announced the resignation of Paul Teniere as President of the Company. “We take this opportunity to thank Paul for this service to the Company and we wish him all the best in his future endeavors,” states Tony Williams.
Source: https://bonanzamining.com/home.html