Major Precious Metals Corp. Announces Drilling Results Advance Skaergaard Project
Mineralised intercept results from the first 11 holes (out of 32) successfully completed within these priority areas confirm the potential to upgrade confidence and significantly expand the existing MRE for Skaergaard. Assay results for the first 11 holes confirmed Pd, Pt and Au grades and mineralised widths are comparable to historical drilling in the four main mineralised horizons that define the existing MRE as detailed in the Report. The assay analysis was performed at Omac Laboratories Limited, Loughrea, County Galway H62 PN80,Ireland. Omac is part of ALS Global, which provides laboratory testing, inspection certification and verification solutions as an international accredited laboratory under ISO/IEC 17025 standards. The analytical protocol used is the Pt, Pd, Au 50g FA ICP-AES and the Four Acid ICP-AES multi-element package (48 elements). Base metals over limits have been finalized with Ore Grade Elements Four Acid ICP-AES. Available results from five holes completed as part of a NW-SE trending drill fence on the Forbindelses Glacier, with drill holes spaced approximately 300 metres apart, are showing continuity of Pd, Pt and Au grades and thicknesses. Results of testing the mineralisation beneath the glacier are projected to allow the Company to not only upgrade the resource classification in this large area, but also to expand the MRE from the existing geological model further to the north. Hole MPD0012, one of four holes completed on a plateau in the area NE of the Forbindelses glacier, returned near surface Pd-Pt-Au mineralisation from a vertical depth of 35 metres along with some Ti and Cu mineralisation from surface. MPD015, a second hole drilled in the same pad as historical drill hole PRL11-57, but dipping south and designed to test the extension of and potential resource expansion of mineralised material, also confirmed the geometry and distribution of Pd-Pt and Au mineralisation in this area. Pending assay results from the two holes nearby, and historical drilling, will be used to assess the open pit potential in this area as part of the PEA. Assay results for holes MPD001, MPD002 and MPD003 (Table 1 and Figures 1 and 4, Section C-C') also show the consistency of the mineralised Pd-Pt-Au footprint in the northwest area of the project. Note that the assay results in Table 1 also show the consistent broader halo of anomalous, and currently subeconomic concentrations of palladium, iron (Fe), titanium (Ti) and vanadium (V) in context of the mineralised H0, H3L1 and/or H3 horizons reported as Mineral Resources in the 2021 Technical Report. This lower grade mineralisation will be further evaluated as more results are received, aiming to test the economic potential for underground bulk tonnage mining in conjunction with potential credits for secondary elements. The Company will continue to work with SLR to interpret remaining assay results, update the MRE and produce a PEA for Skaergaard over the upcoming period. SLR, represented by Senior Geologist Phil Geusebroek, P.Geo., and Senior Mining Engineer Murray Dunn, P.Eng., completed an independent site visit during the week of August 23, 2021. Both individuals are Independent Qualified Persons (QP) under NI 43-101. The QPs reviewed the Company's active diamond drilling, core logging and sampling facilities and confirmed that the Company was adhering to strict QAQC procedures and following CIM exploration best practices. SLR also assessed areas for access to potential mining operations and basic infrastructure requirements for future mining infrastructure and open pit and underground mining options which will form an integral part of the upcoming PEA.