Major Precious Metals Completes Skaergaard Site Visit
VANCOUVER, British Columbia, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Major Precious Metals Corp. ("Major Precious Metals" or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ) is pleased to announce that RPA Inc. (“RPA”) now a part of SLR Consulting Inc. (“SLR”) completed its site visit of the Skaergaard Property (“Skaergaard”) in Greenland on September 9, 2020.
Jack Lunnon, CGeol, EurGeol, RPA Consultant Geologist (SLR) and an Independent Qualified Person as defined in NI 43-101, undertook the site visit to Skaergaard following completion of Icelandic COVID-19 quarantine protocols. Skaergaard exploration licences 2007/01 and 2012/25 were visited, which includes the Skaergaard Intrusion, and Södalen camp and airstrip (Figure 1). Mr. Lunnon reviewed selected drill core stored on site from previous drilling campaigns (Figure 2) and noted that core boxes containing mineralized samples had been transferred to secure core storage facilities in Reykjavik, Iceland and Brisbane, Australia. In addition, Mr. Lunnon reviewed the lower elevation areas of the exploration licences near the coastline both from the ground and from the air to assess the area’s potential for future exploration and mining infrastructure.
As part of his site visit, Mr. Lunnon also examined diamond drill core from the 2011 Platina Resources Ltd. (“Platina”) drilling program located in a secure storage facility in Reykjavik, Iceland and randomly selected 3 metre-long half core samples as Independent Witness (IW) check samples. These check samples were sent via courier to ALS Global, an independent laboratory based in Loughrea, County Galway, Ireland for sample preparation and analysis. The IW check assay results indicate that the gold, palladium, and platinum grades are consistent with the historical assay values from the 2011 Platina drilling program.
As part of the next phase of work, RPA plans to check sample the remaining 2011 Platina half-core samples stored in Reykjavik, Iceland as part of its independent data verification and Quality Assurance and Quality Control (QAQC) procedures for the upcoming Mineral Resource Estimate for Skaergaard.
The closing of the Skaergaard acquisition still only remains subject to the approval of the Canadian Securities Exchange (“CSE”) and the Company is working diligently to expedite this process. Major Precious Metals continues to work with RPA to advance to the next stage of development including a Mineral Resource Estimate, which will form the basis of a Preliminary Economic Assessment (PEA) for the Skaergaard Property.
QualifiedPersonStatement
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., President & CEO of Major Precious Metals Corp, who is a Qualified Person as defined in NI 43-101.
Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/0571a80f-d8c6-4f70-8b97-40ffe1c105dc
Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/f8578cb0-1889-458c-bb91-a4aafe3f602a
On behalf of the Board of Directors
MAJORPRECIOUS METALSCORP.
Paul Ténière, M.Sc., P.Geo.
President and Chief Executive Officer
Suite 810 - 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: (604) 687-2038
About Major Precious MetalsCorp.
Major Precious Metals is a Canadian junior mining and exploration company based in Vancouver, BC that owns a diversified portfolio of exploration properties within some of the most promising precious and base metal deposits worldwide. Major Precious Metals is also engaged in the business of acquiring and exploring precious metal projects near or adjacent to existing mining operations controlled by well-established mining companies.
Major Precious Metals is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol "SIZE." Additional information relating to Major Precious Metals is available on SEDAR at www.sedar.com as well as on the CSE at www.theCSE.com.
The Canadian Securities Exchange has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this news release.
Forward-lookingInformationStatement
Thisnewsrelease may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United Statessecurities laws. When used in thisnewsrelease, the words“anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”and other similar wordsor expressions identify forward-looking statements or information. These forward-looking statements or information mayrelate to the anticipated completion of the Acquisition, the processby which the Company intendsto obtain shareholder approvalfor the Acquisition, regulatoryrequirementsor approvals necessaryfor completion of the Acquisition, the resumption of trading in the common sharesof the Company, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, politicaland social risks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance or achievements to be materiallydifferent from the results,performance or achievements that are or may be expressed or implied by such forward-looking statements.The Company doesnot intend, anddoes not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any otherevents affections such statements and information other than as required byapplicable laws, rules andregulations.
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