Grid Metals Corp. (TSXV: GRDM) has announced that its Makwa nickel project in southeastern Manitoba is progressing to the drilling phase, following the completion of an aerial geophysical survey and the identification of high-priority targets. This development stems from the company’s option and joint venture agreement with Teck Resources Limited, signed in December 2024.
The VTEM MAX airborne geophysical survey, conducted by Geotech Ltd., covered 1,192 line kilometers and identified several anomalies consistent with potential massive sulphide mineralization. Of particular interest is the Ore Fault area, where a 2024 grab sample from a semi-massive sulphide outcrop returned grades of 5.97% nickel and 0.45% cobalt.
Based on these results, Teck has committed to an initial 2,500m drill programme, pending exploration permits. A Technical Committee comprising members from both companies is currently finalizing the drill targets and geophysical interpretations.
Under the terms of the agreement, Teck can earn up to a 70% interest in the Makwa project by investing C$15.7M in exploration and making C$1.6M in payments through cash or equity. The Makwa project lies within the Bird River Greenstone Belt and forms part of Grid’s broader focus on critical mineral exploration in southeastern Manitoba.
Grid Metals CEO Robin Dunbar stated that the strategic consolidation of the Bird River belt, combined with Teck’s involvement, has positioned the company to move quickly on testing high-priority drill targets.
Further updates on the drilling schedule and exploration results are expected in the near term.
For more information visit www.gridmetalscorp.com
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