Grid Metals Corp. (TSXV: GRDM | OTCQB: MSMGF) has provided an update at its Makwa nickel project in southeastern Manitoba where an option and joint venture agreement with Teck Resources Limited was announced in December 2024.
Teck can earn up to a 70% interest in Makwa by incurring a total of $17.3M, comprising project expenditures ($15.7M) and cash payments or equity participation ($1.6M) with Grid.
Robin Dunbar, CEO and president, stated, “Over the past two years, Grid has completed the consolidation of the central portion of the Bird River greenstone belt, announced Teck as a strategic partner, and has identified initial drill targets from the recently completed state of the art geophysical survey. We are pleased that Teck has confirmed funding to test the preliminary drill targets identified to complete drilling as soon as possible. Following receipt and interpretation of the final geophysical data, we intend to provide a detailed update on the scope and objectives of the initial drilling programme.”
Aerial geophysical surveying has been completed at Makwa and has identified a number of high priority geophysical anomalies interpreted to represent potential massive sulphide accumulations.
Teck has confirmed its intention to advance the agreement through initial drilling of a high priority target area with a phase one program of approximately 2,500m.
Further, geophysical modelling and a massive sulphide targeting drill programme are being finalized with drilling planned to commence following receipt of applicable exploration permits. Several of the anomalies are associated with high-grade surface mineralization.
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