Announces Drilling Plans for Ni-Cu-Co-PGM, Lithium and PGE Projects
Grid Metals Corp. (TSXV:GRDM) (OTCQB:MSMGF) has released new drilling results for its Main Dyke lithium pegmatite target located immediately south of the company’s Mayville Cu-Ni-Co-PGM deposit in the Bird River greenstone belt of south-eastern Manitoba.
Results of the drilling identified high-grade lithium, cesium and tantalum values (including 1.8% Li 2 O over 3.38m) in a continuous spodumene bearing pegmatite dyke with a minimum strike length of 775m. Highlights of the drilling and project are:
- 10 holes drilled by Grid (including 7 not previously reported) defined a continuous high grade lithium-bearing dyke with a minimum strike length of 775m.
- Results largely confirm the results of historical drilling in 1955 and a historical resource estimate of 3.8 million tons @1.28% Li 2 O
- There are five lithium bearing pegmatites on the Mayvillle Lithium Property. Grid’s chip sampling on a second spodumene-bearing pegmatite dyke(the NW Dyke) returned maximum values of 3.60% Li 2 O and 220 ppm Ta 2 O.
- The Mayville pegmatites are part of the Cat Lake Pegmatite Field in the Bird River Greenstone Belt which also hosts the world-class Bernic Lake Pegmatite
- Grid holds claims covering 10km of strike length along a favourable geological contact prospective for additional pegmatite discoveries.
- The Mayville Lithium Property is located ~2 km south of the Grid’s Mayville Cu-Ni-PGM deposit with potential for shared infrastructure costs in development
- The project has excellent access, infrastructure (including renewable power) and potential for a low carbon footprint.
- The company’s exploration objective at the property is to define a compliant mineral resource to support a ~150-250,000 per annum production volume of lithium spodumene 6% (SC6%) concentrate putting it on par with other significant lithium spodumene development projects.
High-Grade Lithium Drilling Results From Mayville Lithium Property
The propertycomprises five known spodumene-bearing lithium-cesium-tantalum (LCT) pegmatites that belong to the Cat Lake pegmatite field located ~30 km north of the currently producing Tanco rare metal mining operation at Bernic Lake. The best documented of these dykes, the Main Dyke, was drilled by Grid in 2018.
That drilling outlined a laterally continuous core zone of spodumene-related lithium mineralisation over a minimum strike length of 775 meters and to a depth of up to 100m.
Two step out holes to the north (MLI-18-04 and 09) appear to have intersected a second spodumene-bearing pegmatite that is also enriched in lithium and may be part of a cluster of subparallel dykes in this poorly exposed area. The Main Dyke remains open at depth and along strike to the south.
Surface Sampling Results from the NW Dyke
A second spodumene-bearing pegmatite dyke, the NW Dyke, is part of the historical resource discussed above and is reportedly wider than the Main Dyke. The documented historical drilling at the NW Dyke, included four drill holes over ~350m strike length – all of which intersected significant lithium values. The best reported drill intercept was 1.79% Li 2 O over 36.3 ft. In 2018 Grid conducted chip sampling from blast rubble from an exposed trench in the NW Dyke.
Exploration Plans
The company plans to resume exploration drilling on the Main Dyke and at least one other of the known spodumene-bearing pegmatite dykes early next year in order to establish a maiden NI 43-101 resource on the property.
Grid will also commence metallurgical test work to establish the potential for a quality lithium bearing spodumene concentrate from the Main Dyke.
In light of the strong forecasts for lithium prices in the coming years. the company believes the potential of the project is very high. This sentiment is bolstered by its excellent access, infrastructure, geological setting and potential to share infrastructure costs with the Makwa Mayville Ni-Cu-PGM-Cobalt project.
Drilling Plans on the Makwa and Mayville Ni-Cu-Co-PGE Projects
The company is planning additional resource and exploration drilling at its Makwa and Mayville Ni-Cu-Co-PGM project, located 145 km north east of Winnipeg Manitoba. The focus of the drilling will be to upgrade resources, provide additional material for future metallurgical testwork and add new resources to the project inventory, which currently includes 26.6 Mt averaging 0.44% Cu and 0.18% Ni at Mayville and 7.2 Mt grading 0.61% Ni and 0.19% Cu at Makwa (see 2014 PEA report completed by RPA and available on the Company’s website).
In addition, the company plans to test a new structural target at the Mayville PGE Zone, located 1 km south of the main Cu-Ni-PGE resource. Previously reported drilling completed by the Company suggests the presence of a high-grade core that appears to follow a cross-cutting fault zone. Highlights for this core zone include a 9.1 metre intersection averaging 6.8 g/t Pd and 2.8 g/t Pt from drill hole May 11-07 and a second 9.1 metre intersection averaging 2.9 g/t Pd and 1.0 g/t Pt in hole May 11-27.
“With a very constructive outlook for energy metals due to EV adoption and Greentech applications Grid is at an excellent stage to add to its current nickel, copper, cobalt and PGE mineral inventory at Makwa Mayville,” Dr Dave Peck, Grid’s Vice President of Exploration and Business Development, said.
“In addition, we believe the lithium potential of the belt is considerable given the results to date, multiple high grade pegmatite bodies located in limited exploration work and the proximity to the world-class Bernic Lake pegmatite.
“The Main Dyke drill results reported here benchmark favourably to other lithium projects in Canada at a similar stage of development.
“We are looking at various strategies to accelerate development of the lithium potential of our significant Bird River Belt pegmatite property without deviating from our efforts to expand and improve upon the existing magmatic sulphide resources at Makwa Mayville.”
Update on Bannockburn Nickel and East Bull Lake Palladium Programs
At Bannockburn, nickel assay results from seven drill holes are expected to be received before the end of this month. The project is located south of Timmins Ontario and the target is a Crawford-type bulk tonnage disseminated nickel sulfide deposit.
At East Bull Lake, a field programme of mapping and sampling is now complete. Approximately 500 samples from five discrete exploration target areas have been submitted for assay. The new assay results and geological information will assist in target generation for future drilling at the East Bull Palladium Project.
For further information please visit: https://www.gridmetalscorp.com/
