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Grid Metals Corp. reports mineral exploration developments for critical-metal projects in Manitoba. Company news centers on drill assays and technical updates from the 100%-owned Falcon West property, where the Lucy South lithium-cesium-tantalum pegmatite hosts pollucite-bearing cesium mineralization, spodumene-associated lithium, and related tantalum and rubidium values.
Recurring updates also cover project-level activity across Grid's Manitoba portfolio, including the Donner lithium-cesium property and the Thompson East copper-nickel project. News items include exploration results, mineral-target definition, material agreements, joint venture or option arrangements, and governance matters tied to the company's public mineral exploration business.
Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has signed a cesium supply agreement with Tanco, securing funding for cesium exploration at its Donner Property. The agreement includes an initial CAD$300,000 prepayment for drilling, with a potential follow-up of CAD$900,000 for project development if successful.
Tanco will have rights to purchase 10,000 tonnes of cesium-bearing material at US$1,500 per tonne (for material grading at least 5% Cs2O). The agreement provides Grid access to the only cesium processing plant in the Western world, located 35 km from the High Grade Dyke target. A recent surface grab sample from the dyke yielded 17.5% Cs2O.
The company also holds promising cesium results at its Falcon West property, including intersections of 3.3m at 10.3% Cs2O and 3.2m at 4.6% Cs2O.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) has received TSX-V approval for its option and joint venture agreement with Teck Resources . The company has also received the CAD$400,000 minimum cash payment from Teck, which was due by January 31, 2025, as stipulated in the Agreement. This agreement pertains to funding the Makwa Nickel Project.
Additionally, Grid Metals will be participating at the Vancouver Resource Investment Conference (VRIC) on January 19-20, 2025, at Booth #622 in the Vancouver Convention Centre West. The conference will feature over 120 expert speakers, including economists, money managers, and investors.
Grid Metals Corp has signed a definitive option and joint venture agreement with Teck Resources for the Makwa nickel project in Manitoba, Canada. The agreement grants Teck a two-stage option to acquire up to 70% interest by funding CAD$15.7 million in expenditures and making CAD$1.6 million in cash payments. The initial commitment includes a CAD$400,000 cash payment and CAD$450,000 in minimum expenditures.
The Makwa project features two past-producing nickel sulfide mines and a recent pit-constrained mineral resource estimate of 14.2 MMt at 0.75% Ni Eq grade, including a higher-grade core of 4.8 MMt at 1.26% Ni Eq grade. The project benefits from excellent infrastructure and is located 145 km from Winnipeg.
Grid Metals Corp. has announced positive results from its maiden drill program at the Eagle gabbro within the MM copper/nickel project in Manitoba. The program's initial six drill holes revealed significant copper-rich magmatic mineralization, with highlights including intersections of 44m at 0.93% CuEq and 25m at 1.47% CuEq. The mineralization was found in two areas 400m apart at the southern end of a 4km target trend.
The drilling defined a discrete zone of mineralization averaging 20-30 metres in width, remaining open along strike and at depth. An additional 12 holes have been completed with results pending. The company plans to commence drilling at the ACME target, located ~2km northwest of the current area.
Grid Metals Corp (TSXV:GRDM)(OTCQB:MSMGF) announced the voting results from its Annual and Special Meeting held on October 28, 2024. Shareholders approved the election of five directors: Robin E Dunbar, Thomas W Meredith, Constantine Karayannopoulos, Patrick Murphy, and Grant McAdam. The meeting also saw the approval of the Equity Incentive Plan by a majority of disinterested shareholders and the appointment of UHY McGovern Hurley Cunningham LLP as auditors. The company will be sponsoring and attending the Central Canada Mineral Exploration Convention in Winnipeg on Nov. 4-5, 2024.
Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has initiated its maiden drill program at the Eagle gabbro within the MM copper/nickel project in southeastern Manitoba. The program focuses on the New Manitoba deposit area, which has seen exploration since the 1950s. Alongside drilling, the company will conduct ground IP and two deep penetrating, high-resolution airborne magnetic-EM surveys.
The Eagle gabbro is part of the >20 km long Mayville-Eagle complex, which hosts Grid's 32.0 Mt Mayville Cu-Ni (PGM) deposit. This new exploration area is outside the current resource and offers additional resource upside for the MM project. Grid is fully funded for the program, with initial assays expected by mid-November.
The drill program is based on 3D modeling of historical data, recent surface sampling, and geophysical surveys. Grid's CEO, Robin Dunbar, expressed optimism about outlining copper-dominant mineralization over the >4 km target trend being tested.
Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has announced results from its ongoing exploration program at the MM copper/nickel project in southeastern Manitoba. The company has confirmed surface copper/nickel mineralization over a ~4 km long target trend associated with the Eagle gabbro. Highlights include:
- Twelve bedrock grab samples returned copper grades of 0.5-1.3% with associated nickel, cobalt, and precious metal values.
- Mineralization is associated with a prominent magnetic anomaly.
- Drilling is expected to commence this Fall, fully funded.
- A large airborne magnetic-EM survey and ground IP orientation survey are planned.
- Initial drilling will focus on the New Manitoba deposit, acquired in 2023.
The Eagle gabbro is part of the >20 km long Mayville-Eagle complex, which hosts Grid's 32.0 Mt Mayville Cu-Ni (PGM) deposit. The company aims to apply modern exploration methods to discover new magmatic sulfide resources in this mineral-rich area.
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) announced the filing of a National Instrument 43-101 Technical Report for its MM Project in southeastern Manitoba. The project, consisting of the Makwa and Mayville deposits, contains substantial metal resources: 317 million pounds of copper, 263 million pounds of nickel, and 452,000 ounces of precious metals in indicated open pit categories. Exploration drilling is planned for the New Manitoba deposit, with permits applied and financing secured. The project aims to increase contained tonnage to 75-100 million tonnes with similar or higher grades. The resources are conventional sulphide metal deposits, suitable for marketable nickel and copper concentrates. The MM Project could significantly contribute to the North American EV supply chain, aligning with the Inflation Reduction Act. The technical report was prepared by qualified persons from Micon International
Grid Metals announced the appointment of Constantine Karayannopoulos to their Board of Directors, replacing Edward Munden. Karayannopoulos has a successful track record, including leadership roles at Neo Material Technologies and Neo Lithium Corp., which were acquired for C$1.3 billion and C$960 million, respectively. He currently advises several companies in the rare earth and critical minerals industry and holds degrees in Chemical Engineering. Robin Dunbar, CEO, expressed confidence in Karayannopoulos' ability to advance Grid's critical mineral projects in Manitoba.