Major Precious Metals Provides an Update on Upcoming Skaergaard Drilling Program

Rhea-AI Summary

Major Precious Metals Corp announced plans for its summer 2021 exploration and diamond drilling program at the Skaergaard Project in Greenland. The company secured a converted icebreaker for crew accommodations, reducing environmental impact. They aim to conduct a minimum of 10,000 metres of drilling using four heli-supported rigs, with mobilization scheduled for late June to early July. Conditional approval from Greenland’s Mineral Licensing and Safety Authority has been obtained, facilitating the planned activities.

Positive

• Conditional approval from Greenland's Mineral Licensing and Safety Authority for exploration and drilling activities.
• Plans to utilize an environmentally friendly icebreaker for crew accommodations, reducing wildlife disturbances and costs.

Negative

• None.

VANCOUVER, British Columbia, April 22, 2021 (GLOBE NEWSWIRE) -- Major Precious Metals Corp. (“Major Precious Metals” or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ) is pleased to provide an update on its exploration and drilling plans for this summer on the Skaergaard Project (“Skaergaard”) in eastern Greenland.

Charter Ship and Drilling Program Update

The Company is now well advanced in planning its summer 2021 exploration and diamond drilling program at Skaergaard including engaging Airland Logistics, a provider of international freight and logistics services based in Denmark to obtain a suitable charter passenger ship and cargo vessel to support its 2021 drilling program. The Company has already reserved a converted icebreaker to be retrofitted to include a helipad, to provide accommodations for field crews, as opposed to building a temporary field camp at the Sødalen airstrip (MEL 2012-25), located 15 km east of the Skaergaard deposit (Figure 1).

This Arctic-class (ice class 1A) passenger ship will be large enough to accommodate up to 100 passengers and crew, yet small enough to navigate the narrow channels (fiords) and inlets prominent on the east coast of Greenland and allow the ship to anchor within 200-300 metres of the Skaergaard deposit. Using a passenger ship for accommodations is environmentally friendly and will significantly reduce or eliminate wildlife disturbances, thereby improving the health and safety of field and drilling staff, and helicopter crews. In addition, using a passenger ship anchored so close to the drill sites will result in significantly less helicopter transit times and increased cost savings.

The Company is also in the final stages of selecting a drilling company for the diamond drilling program and is in the process of hiring core logging geologists and field technicians to support the drilling program. The Company plans to complete a minimum of 10,000 metres of diamond drilling on its Skaergaard mineral exploration licence (MEL 2007-01) using four heli-supported drilling rigs, with mobilization planned between the end of June and early July.

The Company also plans to complete reconnaissance field mapping of its new exploration licence granted in January (MEL 2021-10) as part of its summer 2021 exploration plans, and to examine whether this new licence area could be used as potential sites for future infrastructure as part of the upcoming Preliminary Economic Assessment (PEA) for the Skaergaard Project (Figure 1).

The Company is also pleased that the Greenland government’s Mineral Licencing and Safety Authority (MLSA) has recently given its conditional approval for the Company’s planned exploration and drilling activities at Skaergaard this summer. Discussions with a number of other suppliers, vendors, helicopter and fixed wing companies, and expediting companies is ongoing.   

Qualified Person Statement

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/370b779d-ddf5-49d6-a291-270ea2cc10d5

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On behalf of the Board of Directors

MAJOR PRECIOUS METALS CORP.

Paul Ténière, M.Sc., P.Geo.
President and CEO
Suite 810 - 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: (604) 687-2038
pteniere@majorprecious.com

About Major Precious Metals Corp.

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 at www.majorprecious.com and SEDAR at www.sedar.com.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

Forward-looking Information Statement

This news release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United States securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of a mineral resource estimate for the Skaergaard Project, 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, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

FAQ

What is Major Precious Metals' plan for the Skaergaard Project in 2021?

Major Precious Metals plans to conduct a summer exploration and diamond drilling program, aiming for a minimum of 10,000 metres of drilling.

When will the drilling program at the Skaergaard Project commence?

Mobilization for the drilling program is planned between the end of June and early July 2021.

What type of ship is Major Precious Metals using for the Skaergaard drilling program?

The company will use a converted icebreaker that includes a helipad to accommodate field crews.

Has Major Precious Metals received approval for its drilling activities?

Yes, the company received conditional approval from Greenland's Mineral Licensing and Safety Authority.

What are the benefits of using a passenger ship for accommodations during drilling?

Using a passenger ship minimizes wildlife disturbances and reduces helicopter transit times, leading to cost savings.