Grid Metals Corp (TSXV:GRDM) has acquired mineral rights comprising the Falcon West Lithium Property which is located approximately 110km east of Winnipeg, Manitoba and 100km south of the company’s Donner Lake lithium property.
The property covers 61,268 hectares and ~70km of strike length of a highly prospective geological contact zone that features several drill intersected spodumene-rich pegmatites featuring highly anomalous lithium grades. The initial focus of exploration will be the ADL (the ArtDon and Lucy pegmatites) TargetArea, which comprises an ~1.25km trend of outcropping lithium bearing pegmatites.
The company believes the Falcon West acquisition is highly complementary to the companys’ Donner Lake Lithium project as both are located in an infrastructure-rich exploration jurisdiction in proximity to Canada’s only current spodumene mining operation (the Tanco Mine).
Key attributes
- Spodumene-bearing pegmatites assaying up to 3.51% Li2O over 4.57m as part of a 12.2m section assaying 2.16% Li2O are noted in historical drill holes
- Pegmatites are noted in historic assessment report drill logs along a strike length of over 6km including the ADL target area.
- The ADL target is of immediate importance given its >1km strike length of outcropping and previously drill intersected spodumene-bearing pegmatites.
- A non-compliant, historical resource of 226,800 tonnes of 1.75% Li2O was estimated on a portion of the Lucy Pegmatite .
- The Lucy Pegmatite has been described as being zoned, flay lying, well fractionated and similar to the Tanco Pegmatite
- Validation sampling of the Artdon pegmatite completed earlier this year by Grid returned individual grab sample grades of up to 2.97% Li2O.
- Most of the ~70km long prospective geological contact zone has had little or no historical lithium exploration work.
- Grid Metals controls 100% of the mineral rights with a 2% NSR royalty held by the vendors of the ADL target area claims but with no NSR royalty on the majority of the Falcon West claims.
- Property is located approximately 110km west of Winnipeg and 100km south of Grid’s Donner Lake lithium project and features excellent infrastructure including the Trans-Canada Highway, major trans-continental rail lines, hydro-electric power lines and the Trans Canada pipeline.
The Falcon West Property represents a strategic investment by Grid that is highly complementary to Grid’s existing Donner Lake Lithium property on which the Company is currently completing an initial program of resource delineation drilling. The acquisition transforms Grid into a multi property lithium explorer/developer.
“Falcon West is a project of great potential that has flown under the radar despite its known lithium pedigree and close proximity to the Tanco rare metal mine and mill. It is a rare occurrence in today’s active lithium market when a company can amalgamate such a large mineral claim package with known lithium-bearing pegmatites,” President and CEO, Robin Dunbar, said.
“The company looks forward to working with local First Nation governments and the Province of Manitoba to increase the lithium economic potential in the region. These are exciting times for the province as it further cements its position as a major, future source of critical metals including lithium and nickel.”
Exchange. Grid has previously purchased the claim that hosts the ArtDon pegmatite for CA$20,000 cash and 50,000 common Grid shares.
Exploration Plans
- Permitting and consultation with local First Nations to support initial exploration plans.
- Sampling of drill core from the William Hood 2014 drill programme.
- Compilation of assessment and academic data to better characterise the lithium and base metal (especially nickel) potential of the Property.
- Re-logging of drill core stored at the Manitoba government core library in Winnipeg.
- Airborne geophysics, surface drilling and field exploration (mapping and sampling).
For further information please visit: https://gridmetalscorp.com/
