Grid Metals Corp Stock Price, News & Analysis

Grid Metals Corp (OTCQB: MSMGF) reported significant high-grade lithium values from five drill holes at its Donner Lake Lithium Property in Manitoba. The ongoing drilling program has confirmed the continuity of lithium mineralization across an 800-meter strike length in the Main Dyke. An MOU with Tantalum Mining Corporation aims to establish a toll milling operation for processing spodumene-bearing pegmatites. Future plans include completing the initial resource delineation drilling and further exploration in the area.

Grid Metals Corp (OTCQB:MSMGF) has reported initial results from its drilling program at the Donner Lake Lithium Property, which is part of a joint venture with Lithium Royalty Corp. The program has successfully drilled six holes targeting the Main Dyke pegmatite, revealing intersections of significant lithium grades, including 9.5 meters of 1.4% Li2O and 4.3 meters of 1.6% Li2O. The drilling has covered over 800 meters of strike length and 250 meters in vertical depth, showing excellent continuity of spodumene content. The company plans to complete over 10,000 meters of additional drilling while focusing on resource delineation and exploring new targets.

Grid Metals Corp has acquired the Falcon West Lithium Property, covering 61,268 hectares near Winnipeg, Manitoba. The property features high-grade lithium values, including historical drill results with up to 3.51% Li2O. The acquisition enhances Grid's existing Donner Lake Lithium project and positions the company as a significant player in the lithium sector. The focus will be on the ADL Target Area, known for its spodumene-rich pegmatites. The property provides access to critical infrastructure, potentially boosting regional lithium production.

Grid Metals Corp (OTCQB:MSMGF) announced the appointment of Patrick Murphy to its board of directors following a shareholder meeting on November 23, 2022. Mr. Murphy, a Managing Director at AMCI, brings over 15 years of mining investment experience and expertise in battery metal initiatives. The meeting also confirmed the board size to four members, reappointed existing directors, and approved a new equity incentive plan. Grid Metals focuses on lithium and Ni-Cu-PGM projects in Canada, including activity at Donner Lake and the Makwa-Mayville project.

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.