Grid Metals Corp Provides Activities Update on Donner Lithium and MM Copper Nickel Projects
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) has provided an update on its Donner Lithium and MM Copper/Nickel Projects in southeastern Manitoba. Key highlights include:
1. The Advanced Exploration Permit for Donner Lithium Project has been approved, pending a reclamation bond.
2. Due to declining lithium prices, the bulk sample at Donner is postponed.
3. Grid has reduced near-term financial payments for the True North Mill lease.
4. A 5,000-meter drill program is planned for the MM Copper/Nickel Project, focusing on the Mayville arm and the historic New Manitoba Deposit area.
5. The company controls over 50 km of Cu- and Ni-rich exploration targets in the Bird River greenstone belt, including four 43-101 compliant resources.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) ha fornito un aggiornamento sui suoi Progetti di Litio Donner e MM Rame/Nickel nel sud-est del Manitoba. I punti salienti includono:
1. Il Permesso di Esplorazione Avanzata per il Progetto Litio Donner è stato approvato, in attesa di un deposito per il ripristino.
2. A causa della diminuzione dei prezzi del litio, il campionamento di massa al Donner è stato posticipato.
3. Grid ha ridotto i pagamenti finanziari a breve termine per il contratto di affitto del True North Mill.
4. È in programma un programma di perforazione di 5.000 metri per il Progetto MM Rame/Nickel, concentrandosi sul braccio di Mayville e sull'area storica del deposito New Manitoba.
5. L'azienda controlla oltre 50 km di obiettivi di esplorazione ricchi di Cu e Ni nella cintura di greenstone di Bird River, inclusi quattro giacimenti conformi al 43-101.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) ha proporcionado una actualización sobre sus Proyectos de Litio Donner y MM Cobre/Níquel en el sureste de Manitoba. Los puntos destacados incluyen:
1. Se ha aprobado el Permiso de Exploración Avanzada para el Proyecto de Litio Donner, a espera de un bono de recuperación.
2. Debido a la disminución de los precios del litio, la muestra a granel en Donner se ha pospuesto.
3. Grid ha reducido los pagos financieros a corto plazo para el arrendamiento del True North Mill.
4. Se planea un programa de perforación de 5,000 metros para el Proyecto MM Cobre/Níquel, centrándose en el brazo de Mayville y el área del histórico Depósito New Manitoba.
5. La empresa controla más de 50 km de objetivos de exploración ricos en Cu y Ni en la cinturón de greenstone de Bird River, incluidos cuatro recursos que cumplen con el estándar 43-101.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF)는 남동 매니토바에 있는 돈너 리튬 및 MM 구리/니켈 프로젝트에 대한 업데이트를 제공했습니다. 주요 내용은 다음과 같습니다:
1. 돈너 리튬 프로젝트에 대한 고급 탐사 허가가 복구 보증금 대기 중에 승인되었습니다.
2. 리튬 가격 감소로 인해 돈너에서의 대량 샘플 채취가 연기되었습니다.
3. Grid는 True North Mill 임대에 대한 단기 재정 지급을 줄였습니다.
4. MM 구리/니켈 프로젝트를 위해 5,000미터의 시추 프로그램이 계획되어 있으며, 메이빌 팔과 역사적인 뉴 매니토바 매장지 지역에 초점을 맞추고 있습니다.
5. 이 회사는 버드 리버 녹색암대에서 Cu 및 Ni가 풍부한 탐사 목표를 50 km 이상 확보하고 있으며, 43-101 기준에 부합하는 자원 네 곳을 포함하고 있습니다.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) a fourni une mise à jour sur ses projets de lithium Donner et de cuivre/nickel MM dans le sud-est du Manitoba. Les points clés incluent :
1. Le permis d'exploration avancée pour le projet de lithium Donner a été approuvé, sous réserve d'une caution de réhabilitation.
2. En raison de la baisse des prix du lithium, l'échantillonnage en vrac au Donner est reporté.
3. Grid a réduit les paiements financiers à court terme pour le bail du True North Mill.
4. Un programme de forage de 5 000 mètres est prévu pour le projet MM cuivre/nickel, en se concentrant sur le bras de Mayville et la zone historique du dépôt New Manitoba.
5. L'entreprise contrôle plus de 50 km d'objectifs d'exploration riches en Cu et Ni dans la ceinture de greenstone de Bird River, y compris quatre ressources conformes à la norme 43-101.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) hat ein Update zu seinen Donner Lithium und MM Kupfer/Nickel Projekten im Südosten von Manitoba bereitgestellt. Die wichtigsten Punkte umfassen:
1. Die Genehmigung für die fortgeschrittene Exploration des Donner Lithium Projekts wurde genehmigt, vorbehaltlich einer Rekultivierungsanleihe.
2. Aufgrund sinkender Lithiumpreise wurde die Bulkprobe bei Donner verschoben.
3. Grid hat die kurzfristigen Finanzzahlungen für den Mietvertrag der True North Mill reduziert.
4. Ein Bohrprogramm über 5.000 Meter ist für das MM Kupfer/Nickel Projekt geplant, mit Schwerpunkt auf dem Mayville-Arms und dem historischen New Manitoba Deposit Bereich.
5. Das Unternehmen kontrolliert über 50 km Cu- und Ni-reiche Erkundungsziele im Bird River Greenstone Belt, einschließlich vier 43-101-konformer Ressourcen.
- Advanced Exploration Permit approved for Donner Lithium Project
- Reduced near-term financial payments for True North Mill lease
- Planned 5,000-meter drill program for MM Copper/Nickel Project
- Control over 50 km of Cu- and Ni-rich exploration targets
- Four 43-101 compliant Cu-Ni-PGE-Co resources in the portfolio
- Postponement of bulk sample at Donner due to declining lithium prices
- Delayed finalization of Advanced Exploration Permit for Donner
TORONTO, ON / ACCESSWIRE / August 13, 2024 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to provide an update at both its Donner Lithium and MM Copper/Nickel Projects which are located in southeastern Manitoba. The Company has made significant progress with its permitting initiatives at Donner and is preparing to resume drilling at its MM Copper Nickel Project this fall. The new drill campaign will focus on a largely untested ~4 km long outcropping trend of Cu-rich magmatic sulfide mineralization that includes the historical New Manitoba deposit that was acquired by Grid in 2023. MM and Donner are both located on the northern part of the Bird River Greenstone Belt 150 km northeast of Winnipeg Manitoba.
Donner Lithium Property Highlights
Grid has received notice from the Mines Branch of Manitoba regarding its Advanced Exploration Permit ("AEP") for the Donner Lithium Project that the permit has been approved subject to the posting of a reclamation bond by Grid. The permit application was coordinated with and supported by the Sagkeeng First Nation in whose ancestral territory the Donner Project is located. Grid agreed to coordinate with SFN on environmental mitigation measures and economic benefits relating to the permit activities.
As lithium prices have further declined in 2024 the Company does not plan to immediately proceed with the bulk sample outlined in the AEP. Grid will keep the market informed on the timing of the bulk sample and finalization of the AEP for Donner which is expected to be re-initiated with the occurrence of higher lithium prices.
Grid has reduced its near-term financial payments for the lease of the True North Mill in Bissett for the processing of lithium spodumene material from Donner. The Company most recently made a C
$100,000 payment with the next payment (C$200,000) scheduled for the end of 2024.The continued focus of Grid is to explore and develop critical mineral resources located in southeastern Manitoba and specifically in the Bird River greenstone belt where the Company holds mineral title over the most advanced lithium project in the region (Donner) and controls over 50 km of Cu- and Ni-rich exploration targets including four separate 43-101 compliant Cu-Ni-PGE-Co resources: the Makwa, Mayville, Ore Fault and Page deposits.
Above: Grid Metals Corp Properties and location of metal deposits in the Bird River Greenstone Belt Manitoba.
MM Copper/Nickel Project
On May 6, 2024, Grid announced the results of an updated mineral resource estimate that was prepared in compliance with National Instrument 43-101 on the Mayville and Makwa Deposits. In order to expand the known resources and test new targets in the belt the Company plans to complete an approximately 5,000-meter drill program focused on the Mayville arm of the Bird River Belt in the area of the historic New Manitoba Deposit and covering areas featuring untested, outcropping mineralization over a cumulative strike length of ~4 km. Details of the new drill program will be provided in the near future.
Qualified Persons Statements
Dr. Dave Peck, P.Geo., is the Qualified Person for purposes of National Instrument 43-101 and has reviewed and approved the technical content of this release.
About Grid Metals Corp.
Grid Metals is focused on both lithium and copper/nickel projects in the Bird River area, approximately 150 km northeast of Winnipeg Manitoba. The Donner lithium project is a
All of the Company's southeastern Manitoba projects are located on the Traditional Lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.
On Behalf of the Board of Grid Metals Corp.
For more information about the Company, please see the Company website at www.gridmetalscorp.com or contact:
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: rd@gridmetalscorp.com
Brandon Smith - Chief Development Officer - bsmith@gridmetalscorp.com
David Black - Investor Relations Email: info@gridmetalscorp.com
We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Grid Metals Corp.
View the original press release on accesswire.com
FAQ
What is the status of Grid Metals' Advanced Exploration Permit for the Donner Lithium Project?
Why has Grid Metals postponed the bulk sample at the Donner Lithium Project?
What are Grid Metals' plans for the MM Copper/Nickel Project?
How many 43-101 compliant resources does Grid Metals (OTCQB:MSMGF) control in the Bird River greenstone belt?
