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About Grid Metals Corp.
Grid Metals Corp. (OTCQB: MSMGF) is a Canadian mining exploration and development company strategically focused on critical minerals vital to the global energy transition and technology sectors. Operating in the geologically rich Bird River Greenstone Belt in southeastern Manitoba, Canada, Grid Metals manages an extensive portfolio of resource-stage and exploration-stage projects targeting lithium, nickel, copper, cobalt, cesium, and platinum group metals (PGMs).
Key Projects and Operations
Grid Metals' flagship projects include:
- Donner Lake Lithium Project: A 75%-owned lithium-focused property with advanced-stage exploration activities. The project benefits from proximity to the True North mill under a lease agreement, enabling potential spodumene concentrate production.
- Makwa Nickel Project: A nickel-dominant deposit with significant palladium, platinum, and copper credits. The project is subject to a joint venture agreement with Teck Resources Limited, which aims to explore high-grade magmatic sulfide deposits.
- Mayville Copper-Nickel Project: A copper-rich deposit with a resource-stage profile. The project is located adjacent to Donner Lake, providing synergies in infrastructure and permitting activities.
- Falcon West Lithium and Cesium Project: An exploration-stage property with high-grade cesium and lithium mineralization, offering significant upside potential for critical metals.
Grid Metals leverages its expertise in exploration and resource development to advance these projects while maintaining strong relationships with local communities, including the Sagkeeng First Nation, under exploration agreements.
Strategic Partnerships and Industry Position
Grid Metals has established strategic collaborations to accelerate project development and reduce operational risks. A notable partnership includes an option agreement with Teck Resources Limited to explore the Makwa Nickel Project, providing up to CAD$15.7 million in funding. Additionally, the company has signed a cesium supply agreement with Tantalum Mining Corporation of Canada Limited (Tanco), granting access to the only cesium processing facility in the western world.
Competitive Advantages
Grid Metals differentiates itself through:
- Diverse Portfolio: A focus on multiple critical minerals, including lithium, nickel, and cesium, positions the company to meet growing demand in energy storage, electric vehicles, and advanced technologies.
- Infrastructure Access: Proximity to existing infrastructure, including the True North mill and major transportation networks, enhances project economics and operational efficiency.
- Strategic Location: Operating in a Tier 1 mining jurisdiction with a stable regulatory environment and access to skilled labor.
- Technical Expertise: A team of experienced geologists and mining professionals ensures rigorous exploration and resource development practices.
Commitment to Critical Metals
Grid Metals plays a pivotal role in the supply chain for critical minerals, addressing the increasing demand for sustainable and domestically sourced materials. Its projects align with global trends in electrification, renewable energy, and decarbonization, making the company a key player in the transition to a low-carbon economy.
Grid Metals Corp provided a progress update on its drill program at the Donner Lake Lithium Property in Manitoba, highlighting both resource delineation drilling and exploration efforts. The drilling at the Main Dyke has seen 15 holes completed over approximately 3400 meters. Previous drilling in 2018 returned averages of 1.5% Li2O. In addition, the Northwest Dyke has potential as it remains open along strike and to depth. The Company aims to establish a maiden resource through these efforts, bolstered by positive surface sampling results from additional exploration targets.
Grid Metals Corp has commenced drilling at its Donner Lake Lithium Property in Manitoba. The program will focus on resource delineation of two main spodumene-bearing pegmatite dykes: the Main and Northwest dykes. Initial drilling at the Main Dyke aims to a depth of 250 meters, targeting an initial NI 43-101 compliant resource estimate. Past drilling at both dykes returned average grades of 1.5% LiO2 and 1.3% LiO2, respectively. The property is a 75% Grid/25% Lithium Royalty Corp joint venture. Additional exploration targets and metallurgical tests are also planned.
Grid Metals Corp. clarifies that its recent $8.52 million private placement included insider participation from Waratah Capital Partners Ltd., constituting a related party transaction. The Company has commenced drilling at the Donner Lake Lithium Property to estimate resources, aligning with its portfolio focused on nickel, copper, and lithium. Additionally, the Company granted 300,000 incentive stock options to consultants at $0.19 per share. These developments may influence investor sentiment and stock performance.
Grid Metals Corp. (TSXV:GRDM, OTCQB:MSMGF) has entered into a Memorandum of Understanding with Tantalum Mining Corporation of Canada Limited for metallurgical tests on lithium spodumene ore from the Donner Lake Lithium Property. This collaboration aims to evaluate the potential for toll milling and establish a profitable mining venture between both parties. The Tanco Mine is North America's only lithium spodumene concentrate producer, and successful testing could pave the way for a binding agreement to share costs and profits based on lithium prices. This agreement highlights the growing importance of southeastern Manitoba in the lithium market.
Grid Metals Corp. has successfully completed a private placement, raising $8.52 million. The placement included the issuance of 56 million common shares, with 20 million shares priced at $0.21 and the remaining 36 million at $0.12. Proceeds will support exploration in Manitoba and Ontario, focusing on the Makwa Mayville and lithium properties. Key investors include Lithium Royalty Corp and AMCI Group. All shares are subject to a one-year hold, and total finders fees amounted to $355,200 in cash and warrants.
Grid Metals Corp. announced the closure of a $4,920,000 first tranche of a non-brokered private placement, part of an $8,520,000 offering. The first tranche includes 20 million charitable flow-through common shares at $0.21 each, raising $4,200,000, and 6 million ordinary common shares at $0.12 for $720,000. Proceeds will fund Canadian exploration expenses eligible for critical mineral tax credits. The final tranche is anticipated by September 23, 2022, pending regulatory approvals. All shares issued are subject to a four-month hold period.
Grid Metals Corp. (TSXV:GRDM) has announced a non-brokered private placement to issue up to 56 million shares, raising gross proceeds of up to C$8,520,000. Key investors include AMCI and Primero Group. The offering consists of ordinary common shares priced at C$0.12 and charitable flow-through shares at C$0.21. Funds will be allocated to advancing lithium and nickel-copper projects in Manitoba, including a planned airborne EM survey for high-potential mineral leases. Closing is expected around September 15, 2022, pending regulatory approvals.
Grid Metals Corp. has announced the successful completion of its Phase 1 drill program at the Donner Lake lithium property. The final three drilled holes revealed significant lithium grades, with GDL22-16 reporting 1.17% Li2O over 7.3 meters. The Northwest Dyke, traced for 600 meters, shows notable continuity and opens for further exploration. The company is moving forward with project development, including environmental assessments and metallurgical tests, while keeping investors updated on future drill plans for resource calculation.
Grid Metals Corp (OTCQB:MSMGF) announced promising results from its Phase 1 drill program at the Donner Lake lithium property in Manitoba. Highlights include:
- Drill hole GDL22-07: 8.2m at 1.53% Li2O
- Drill hole GDL22-11: 14.6m at 1.25% Li2O
- Drill hole GDL22-14: 3.26m at 1.88% Li2O
Additional valuable cesium and tantalum readings were also reported. The company has mobilized crews for further sampling of pegmatite dykes, indicating strong potential for further lithium discoveries.
Grid Metals Corp (OTCQB:MSMGF) has announced the sale of its 100% interest in the Bannockburn Nickel Property to Canada Nickel Company Inc. for 2 million common shares. This strategic move aims to streamline Grid's portfolio, allowing focus on core battery metals projects in Manitoba, including the Makwa Mayville and Donner Lake properties. The Bannockburn property has demonstrated potential with historical drilling indicating significant nickel mineralization. The transaction also positions Grid as a key shareholder in Canada Nickel, providing exposure to its exploration projects.
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