Near Term Lithium Production in Canada
Stock Codes:
TSXV: GRDM, OTCQB: MSMGF, FSE: NJF1
Company Exposures:
Palladium, Nickel, Copper, Cobalt, Lithium, Platinum
Project Location:
Canada
Grid Metals is focused on near term lithium production from its Donner Lake Lithium Project in Manitoba Canada. The Donner Lake Lithium Project is located 150km northeast of Winnipeg, Manitoba. The company has leased the nearby True North mill which can be reconfigured to process lithium feed. A second processing option is at the Tanco Mine where the company has a toll milling MOU with the operator of that currently producing lithium mine. Grid also has a belt scale lithium exploration project (Falcon West) that has high-grade lithium intercepts. Grid also controls a PEA stage Ni-Cu-PGM-Co project (Makwa-Mayville) undergoing exploration and development activity.
Investment Rationale
Our Manitoba business is exploring / developing projects of economic merit
Donner Lake Lithium
- 75%-owned with Li Equities Investments LP, formerly Lithium Royalty Corp., as a 25% owner
- Maiden resource of 6.8Mt grading 1.39% Li2O, including 2.1Mt grading 1.42% Li2O of openpittable material (all inferred)
- Targeting production in 2025 through processing at True North mill
- Advanced exploration permit submitted with bulk sample expected by year end 2023, economic study targeted for Q1 2024
- Upside exploration potential to add additional resource at Donner Lake
Falcon West Lithium
- 100% Grid-owned belt scale opportunity
- Highly prospective geological terrain with historical assays including 1.8% Li2O over 12.3m and 2.2% Li2O over 12.2m
- Flat lying target which is close to surface
- Work permits being submitted to drill test the area (drilling expected by winter 2023)
Makwa Mayville Ni-Cu-PGM-Co
- ~C$4B in contained metal in two NI 43-101 resources
- Located in same footprint as Donner Lake Lithium
- Project has good metallurgy and can be processed using standard flotation methods
Manitoba – A Current and Developing Critical Metals Hub
- Manitoba is a gateway to the US and overseas market from central Canada
- The province currently exports lithium, nickel, and other metal concentrates
- Location is poised to benefit from US Inflation Reduction Act with access to US market
- High ESG credentials – 97% of Manitoba power is hydroelectrically generated
- Grid’s advanced projects located near provincial capital (Winnipeg) with excellent infrastructure
- Currently operating Tanco Mine is exporting lithium spodumene concentrate
- Supportive governments and regulatory regime
- Agreement in place with First Nations