Grid Metals Corp. (TSXV:GRDM) has entered into agreements with arms’ length third party vendors to acquire additional property in southeast Manitoba, Canada.
The acquisitions have enabled Grid to establish a dominant land position prospective for nickel, copper, platinum group metals and cobalt – all key critical metals. Additional ground in the belt has been acquired through staking. The new properties provide a significantly enhanced scope for the discovery of additional nickel-copper-PGM mineralization in the belt.
The transactions are as follows:
1. Acquisition from Gossan Resources Limited of the Ore Fault, Page and Chrome nickel-copper sulfide resources and associated exploration properties that adjoin the company’s Makwa nickel property to the west:
- Indicated and Inferred resources of Ni-Cu-PGM-Au mineralization prepared in accordance with NI 43-101 in two discrete near-surface deposits (Technical Report and Resource Estimate on the Ore Fault, Galaxy and Page Zones of the Marathon/Gossan Resources Bird River Property, Southeast Manitoba (P&E Mining Consultants Inc., Feb. 26, 2009))
- Page 1.5Mt at 0.32% Ni and 0.13% Cu Indicated
- Ore Fault 0.9Mt at 0.32% Ni and 0.24% Cu Indicated
- Ore Fault 2.5Mt 0.35% Ni and 0.19% Cu Inferred
- 51 mineral claims encompassing approximately 2,870ha
Claim block viewed as prospective for additional nickel + palladium mineralization
2. Acquisition from a subsidiary of First Mining Gold Corp. of the Eagle Claims which host the historical New Manitoba nickel-copper sulphide deposit, located 9 km east of the company’s Mayville M2 resource:
- New Manitoba deposit has a historical mineral resource estimate of 1.8Mt at 0.75% Cu and 0.33% Ni (Manitoba Mineral Inventory Card #217) ( Note: the Company has not been able to verify the historical estimate as relevant and the historical estimate should not be relied on)
- 10 claims and 238ha
- Claim block viewed as prospective for Mayville M2 type Ni-Cu-PGM mineralization
- Eagle Claims also capture prospective ground for lithium-bearing pegmatites and are enclosed by the Company’s Donner Lake property
3. Staking of additional mining claims in the Bird River Belt including:
- The National Ledin property five claims, 1,280ha) covering the western extension of the Bird River Sill directly west of the Gossan Resources claims
- Property relatively unexplored but considered prospective for Makwa-type Ni-Cu-PGM mineralization
“The transactions announced today have consolidated our land position in the Bird River area, add resource inventory and give us additional wide scope for new discoveries of nickel, copper and platinum group metals,” President and CEO, Robin Dunbar, said.
“We have been eyeing these assets for several years and are pleased to now have been in a position to transact. With future demand for nickel and copper expected to be very strong the time was right for us to move forward and acquire these assets to solidify our base metal position in the Bird River area.”
The company expects to close the transactions with Gossan Resources and First Mining Gold on or before April 21, 2023.
For further information please visit: https://gridmetalscorp.com/
