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 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.
Grid Metals Corp. (OTCQB:MSMGF) has reported significant results from three additional drill holes in its Phase 1 program at the Donner Lake Lithium property in Manitoba. Highlights include:
- 10.3 meters at 1.0% Li2O in hole GDL22-04, with a section of 5.1 meters at 1.8% Li2O.
- 12.9 meters at 1.0% Li2O in hole GDL22-08, with sections of 1.8 meters at 1.8% Li2O and 3.0 meters at 1.6% Li2O.
- 9.6 meters at 0.8% Li2O in hole GDL22-09, including 2.9 meters at 1.5% Li2O.
The drill program has now traced the Northwest Dyke for ~600 meters, with results for eight holes pending.