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 announced promising results from its 2022 lithium exploration program at the Donner Lake property in Manitoba, a joint venture with Lithium Royalty Corp. Drill results reveal high-grade lithium intersections, including 4.1 meters averaging 1.62% Li2O and 5.9 meters averaging 1.48% Li2O across a 500-meter strike length. The company has completed five drill holes, with assays indicating a consistent lithium profile akin to neighboring pegmatite sources. Ongoing drilling aims to further define this valuable resource near Canada's only lithium-producing operation.
Grid Metals Corp. announced a successful drilling update on their Makwa Nickel Property, highlighting the discovery of nickel, copper, and cobalt sulfide mineralization beneath the historic Dumbarton Mine. The initial results from drill hole MK22-02 show substantial nickel grades, with intervals exceeding 1.5% nickel within a broader mineralized package. The ongoing drilling program targets significant geophysical anomalies with a strike length of 400 meters, indicating further resource potential. The exploration aligns with rising nickel prices and increased interest in nickel sulfide projects.
Grid Metals Corp. has released initial findings from its 2022 lithium exploration at the Donner Lake property in Manitoba, reporting positive results from 11 drill holes targeting the Northwest Dyke. All holes intersected spodumene-bearing pegmatites along a 600-meter strike length. Key results include drill hole GDL22-01 with 13.75 meters averaging 1.53% Li2O and GDL22-02 with 9.4 meters averaging 1.47% Li2O. The Northwest Dyke remains open for further exploration.
Grid Metals Corp. (OTCQB: MSMGF) announced final results from its 2021 drilling program at the Bannockburn Nickel Property in Ontario. The drilling focused on the B Zone, revealing widths and grades comparable to Canada Nickel's Crawford Deposit. Key results include hole GBN21-03, which intercepted 341.7 meters averaging 0.28% Ni. A mineralogical study is underway to assess recoverable nickel from the B Zone. The mineralization remains open in multiple directions, indicating potential for further exploration.
Grid Metals Corp. (OTCQB: MSMGF) has reported progress on its nickel-copper-PGM and lithium exploration projects. In January, the company raised C$6.3 million through a financing transaction. Key updates include the completion of ten drill holes at the Makwa nickel project, drilling at the Donner Lake lithium project, and final results expected from the Bannockburn nickel project. The Company has received final mineral title for exploration licenses in Manitoba, enhancing its exploration capabilities. Initial drilling results are anticipated by the end of February 2022.
Grid Metals Corp. (OTCQB:MSMGF) announced a shareholder update regarding its nickel-copper-cobalt-PGM and lithium projects in Canada. The company began drilling at the Makwa Nickel property in Manitoba, aiming for a total of ~3,000 metres to expand existing nickel resources. Following this, an 8,000 to 10,000 metre drilling program targeting lithium-rich pegmatites at the Mayville property is set to commence. Grid's lithium assets are positioned for potential monetization amidst a strong market. Future updates about these drilling programs will be provided.
Grid Metals Corp. (OTCQB: MSMGF) announced promising results from its 2021 drilling program at the Bannockburn Nickel Sulfide Property in Ontario. The drilling campaign demonstrated significant nickel enrichment across all five reported holes, with 193.5 metres of 0.31% Ni intercepted in hole GBN21-04. The B Zone, which is >2 km long, remains open for further exploration. Additional assays are pending, and plans include quantitative mineralogical analyses and further drilling to determine the extent of the resource.
Grid Metals Corp. announced the closing of its financing transaction with Lithium Royalty Corp., totaling approximately CAD$6.3 million. The deal includes a private placement of 13,962,404 shares at $0.1182 each, raising $1.65 million, along with proceeds from asset sales and royalties. The funds will be used for lithium exploration, with plans to create a lithium subsidiary later in 2022. Grid's working capital now stands at about $8.8 million, supported by its strategic positioning in the lithium market.
Grid Metals Corp. (OTCQB: MSMGF) has received conditional approval from the TSX Venture Exchange for a CAD$6.3 million financing transaction with Lithium Royalty Corp. This includes a private placement of 13,962,404 shares at $0.1182 per share, expected to close on January 12, 2022. Additionally, Grid will sell a 25% interest in two lithium projects for US$1.5 million and receive US$2.25 million from the sale of a 2% gross overriding royalty. This transaction supports Grid’s strategic focus on battery metals.
Grid Metals Corp. has announced a strategic financing agreement with Lithium Royalty Corp. to fund its lithium projects in Manitoba and Ontario, totaling approximately CAD $6.3 million. The deal includes a 25% interest sale in its lithium assets, project royalties, and a private placement. A new lithium-focused subsidiary will be formed, enhancing liquidity and streamlining operations. The transaction is pending due diligence and regulatory approval, with a targeted closing date around January 12, 2021.