ThSeeker
3 years ago
Grid Metals Provides New Drill Results From East Bull Lake and Strengthens Technical Team 3/11/2021
TORONTO, ON / ACCESSWIRE / March 11, 2021 / Grid Metals Corp. (the "Company") (TSX.V:GRDM)(OTCQB:MSMGF) is pleased to announce new drilling results for its first three holes from the Q1 2021 program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The Company resumed drilling in January, following up on encouraging drilling results from its fall 2020 campaign. Grid is also pleased to announce Dr. Reid Keays, an internationally renowned expert on PGE and nickel sulfide deposits, has joined Grid Metals as a Senior Technical Advisor.
Highlights
Significant results from the first three holes from the ongoing winter drilling program are:
54.0 metres averaging 1.05 g/t palladium equivalent grade (Pd Eq) in hole EBL21-01 including 3.0 metres of 3.04 g/t Pd Eq
24.0 metres averaging 0.94 g/t Pd Eq in hole EBL21-02 including 2.0 metres of 2.34 g/t Pd Eq
40.3 metres averaging 1.15 g/t Pd Eq in hole EBL21-03 including 2.30 metres of 3.23 g/t Pd Eq
These three holes represent short step outs from discovery hole EBL20-13 (119m of 1.1 g/t Pd Eq) reported last December.
Dr. Dave Peck, the Company's Vice-President of Exploration and Business Development stated "We continue to intersect good widths of palladium mineralization in the Central Parisien Lake target area. We will be assessing all of the new drilling results over the coming weeks and begin making plans for a summer field program and the next phase of exploration drilling on the Property. With over 20 km of prospective strike length to explore, the continued refinement of our exploration methodologies is a critical step toward meeting our ultimate objective of delivering one or more discoveries having the size and grade required for potential extraction."
Update on Drilling Activities
The Company resumed drilling on the Property on January 21 and expects to complete over 3,000 metres in approximately 15 holes before the end of the month. Drilling is focussed on the Central Parisien Lake target area. Results from the first three holes are reported in Table 1, below. Drilling is targeting a >1 km long geophysical anomaly (resistivity low) with favourable geology and historical outcropping palladium mineralization. This is the first area that the company has focussed on since resuming exploration at East Bull Lake in the spring of last year. Several other similar target areas existing on the Property remain to be drilled. Each of these has comparable size, prospective geology, outcropping mineralization styles and geophysical anomalies to those observed in the Central Parisien Lake area.
ThSeeker
3 years ago
Grid Metals Corp. Listed on OTCQB 3/2/2021
TORONTO, ON / ACCESSWIRE / March 2, 2021 / Grid Metals Corp. (the "Company" or "Grid") (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announce that the common shares of the Company have been listed for trading on the OTCQB Venture Market under the symbol MSMGF. Grid common shares also trade on the TSX Venture Exchange in Canada (TSXV:GRDM) and on the Frankfurt Exchange under the symbol NJF1.
Grid is a Canadian based company with exploration and development stage projects focused on nickel palladium and copper. Grid is focused on development of projects to meet the needs for metals required for pollution control in internal combustion engines ( platinum and palladium ) and in batteries for electric vehicles ( nickel ).
The Company is currently drilling at its East Bull Lake Palladium Property near Sudbury Ontario and has commenced an exploration program at its bulk tonnage nickel target on the Bannockburn Nickel Project south of Timmins Ontario. In addition, Grid has a development stage nickel-copper-platinum group metals-cobalt project in Manitoba, in central Canada.
The OTCQB® Venture Market is for entrepreneurial and development stage U.S. and international companies. To be eligible, companies must be current in their reporting and must undergo an annual verification and management certification process. These standards provide a strong baseline of transparency to improve the information and trading experience for investors. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.
ThSeeker
3 years ago
Grid Metals Files NI 43-101 Report on Bannockburn Nickel Property: Historical Drilling Identifies Potential for Bulk Tonnage Nickel Deposit and High Grade Nickel Mineralization 2/17/2021
TORONTO, ON / ACCESSWIRE / February 17, 2021 / Grid Metals Corp. (the "Company" or "Grid Metals") (TSXV:GRDM) is pleased to announce it has received the Independent National Instrument 43-101 Technical Report ( the "Technical Report") on the Bannockburn Nickel Sulphide Property ( the "Property") located in the Matachewan area, approximately 100 km south of Timmins, Ontario. The author was Caracle Creek International Consulting Inc. of Sudbury, Ontario. The Technical Report was commissioned in order to summarize all relevant geological and historical exploration information on the Bannockburn Property (including 84 drill holes) and obtain independent recommendations for future exploration at the Property. The full report will be filed on SEDAR and will also be made available on the Company's website.
Key Findings of the Bannockburn Property Technical Report
The style of mineralization present in the B Zone (Mount Keith-type) at Bannockburn is directly comparable to the large-tonnage, low-grade nickel sulfide resources hosted by the Crawford Ultramafic Complex ("CUC") on the Crawford Nickel-Cobalt Sulphide Project, owned by Canada Nickel Company Inc. ("TSXV: CNC"), and the Dumont Nickel Deposit owned by Dumont Nickel Magneto Investments L.P. (and previously Royal Nickel Corporation).
The B Zone occurs within a ~3.5 km magnetic anomaly that is related to a serpentinized ultramafic body believed to have originated as an adcumulate dunite intrusion similar to that hosting the Crawford nickel deposit.
The Property shows good potential for developing both low-grade, large tonnage and high-grade, low tonnage nickel (Co, Pt, Pd, Fe) resources and warrants additional exploration given similarities of initial drill intersections, in terms of grade and thickness, to that reported in the Main and East zones at the Crawford Nickel Project.
The Property is located ~100 km south of Timmins, Ontario near the town of Matachewan in an area with excellent infrastructure. The Property mineral rights are held 100% by Grid Metals by way of 125 contiguous unpatented mining claims that cover approximately 2 700 hectares and are subject to a 2% NSR held by Outokumpu Mining.
Disseminated nickel mineralization was intercepted in 10 historic drill holes over a 350 metre strike length in the B Zone (see Figure). Drill hole MBB4-09 assayed 0.327% Ni over 202 metres starting at the top of the bedrock surface and bottomed in mineralization. For reference this nickel grade is similar to the grade reported from the Main Higher Grade Zone Measured and Indicated Resources of the Crawford Nickel resource reported Jan. 18, 2021 by Canada Nickel Company.
https://www.accesswire.com/630107/Grid-Metals-Files-NI-43-101-Report-on-Bannockburn-Nickel-Property-Historical-Drilling-Identifies-Potential-for-Bulk-Tonnage-Nickel-Deposit-and-High-Grade-Nickel-Mineralization
ThSeeker
3 years ago
Grid Metals Discovers Nickel Mineralization and Intersects Additional Pd-Rich Mineralization at East Bull Lake 1/28/2021
TORONTO, ON / ACCESSWIRE / January 28, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to announce the further drilling results from its fall 2020 program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The first step out hole (EBL20-14) from discovery hole EBL20-13 (119m @ 1.19 g/t palladium equivalent grade = "Pd Eq") is located 85 metres away. It intercepted both significant widths of palladium-dominant disseminated sulfide mineralization and a four metre section of nickel-rich semi-massive sulfide and magnetite including two metres averaging 1.51% nickel, 1.14% copper, 1.55 g/t Pd, 0.38 g/t platinum and 0.22 g/t gold.
Highlights from EBL20-14
Drill hole EBL20-14 was a follow-up to previously reported results for hole EBL20-13 (e.g., 119 metres averaging 1.1 g/t Pd Eq - see Company news release dated December 3, 2020) and intersected several intervals of Pd-dominant mineralization followed by a four metre interval of nickel- rich disseminated to semi-massive sulfide + magnetite mineralization. The nickel-rich mineralization occurs within a footwall breccia unit directly underlying the palladium-rich mineralization.
Analytical results for EBL20-14 (see Table 1 for details) include:
From 84.0m - 15.7m @ 0.83 g/t Pd Eq (disseminated sulfide);
From 113.0m - 6.0m @ 2.42 Pd Eq (disseminated sulfide);
From 129.0m - 14.1m @ 1.14 Pd Eq (disseminated sulfide); and,
From 165.6m - 2.07m @ 1.51% nickel, 1.14% Cu and 1.55 g/t Pd (semi-massive sulfide + magnetite) including a 1.0 metre sample with 1.93% Ni, 1.61% Cu, 2.03 g/t Pd and 0.14% Co.
Program Plans
The Company resumed drilling on the Property on January 21st and is expected to initially complete up to 4,000 metres of drilling over the next 2-3 months, including several new holes at both the Central Parisien Lake target area (Figure 1) and the southwestern part of the East Lobe target area (an area located approximately 6 kilometres to the east). In both areas, drilling will be designed to delineate laterally extensive and thick (i.e., tens of metres) zones of near surface, high tenor, Pd- and Cu-rich disseminated sulfide mineralization, especially within modeled structural depressions along the base of the intrusion. Drilling will also test for additional Ni-rich mineralization, similar to that observed in the Parisien Lake area, by targeting selected conductivity and resistivity anomalies within the lower parts of these structural depressions or along the margins of potential feeder structures.
Dr. Dave Peck, the Company's Vice-President of Exploration and Business Development stated "The intersection of nickel-rich sulfide mineralization is a significant new development for the project. The position of this mineralization at the base of the intrusion fits the pattern observed for sulfide deposition in many layered intrusions globally, with Pd- and Cu-rich disseminated sulfide mineralization developed above denser nickel- and iron-rich sulfides occupying structural depressions along the basal contact and commonly extending into the immediate footwall. The 2020 exploration results support the Company's belief that major deposits of Pd- and Cu-rich disseminated sulfide mineralization - locally underlain by high-value, base metal-rich semi-massive to massive sulfide-oxide mineralization, can be discovered in the Central Parisien Lake area and elsewhere within the prospective lower stratigraphy of the East Bull Lake Intrusion."
Additional Results
Analytical results for EBL20-12 and EBL20-15 were also received (Table 1). These two holes were drilled to the south to intersect the contact area between the Parisien Lake Deformation Zone (PLDZ) in the south - a potential feeder structure to the EBL Intrusion, and the upper part of the prospective Lower Series stratigraphy in the north (Figures 1 to 3). In contrast, EBL20-13 and 14, both of which returned better grade-thickness palladium mineralization, were drilled to the north toward the central axis of a modeled basin structure along the base of the intrusion.
Anomalous Pd mineralization was encountered in both EBL20-12 and EBL20-15 within the prospective Lower Series units with maximum grade-thickness intervals as follows:
EBL20-12
12.0 metres averaging 0.65 g/t Pd, 0.24 g/t Pt, 0.05 g/t Au, 0.07% Cu and 0.05% Ni (1.03 g/t Pd Eq) from 3.0 metres
4.8 metres with 0.67 g/t Pd, 0.24 g/t Pt, 0.05 g/t Au, 0.06% Cu and 0.04% Ni (1.00 g/t Pd Eq) from 22.0 metres
6.4 metres averaging 0.38 g/t Pd, 0.18 g/t Pt, 0.06 g/t Au, 0.20% Cu and 0.08% Ni (0.98 g/t Pd Eq) from 30.6 metres
EBL20-15
10.0 metres averaging 0.86 g/t Pd, 0.23 g/t Pt, 0.05 g/t Au, 0.06% Cu and 0.04% Ni (1.19 g/t Pd Eq) from 50.0 metres including a 3.0 metre section averaging 1.46 g/t Pd, 0.40 g/t Pt, 0.11 g/t Au, 0.13% Cu and 0.07% Ni (2.11 g/t Pd Eq) from 55.0 metres
ThSeeker
3 years ago
Grid Metals Commencing Drill Program at East Bull Lake Palladium Property 1/21/2021
TORONTO, ON / ACCESSWIRE / January 21, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to confirm that drilling has now commenced at the East Bull Lake Palladium Property (the "Property") located 80 kilometres west of Sudbury, Ontario. The drilling will continue a program started last year that is focused on the discovery of significant near surface deposits of near palladium-rich magmatic sulfide mineralization. The new drilling will focus on two areas located approximately six kilometres apart along the prospective southern margin of the intrusion. Two drills will be deployed for the majority of the program.
The first seven holes are planned for the Parisien Lake area as a follow up to the best intersection ever obtained on the Property from drill hole EBL20-13, as reported in the Company's December 3, 2020 news release. This intersection included a 119 metre interval, starting at three metres below surface, that averages 0.75 g/t Pd, 0.21 g/t Pt, 0.04 g/t Au, 0.08% Cu and 0.05% Ni (1.13 g/t palladium equivalent grade = Pd Eq), within which occurs a higher grade 48 metre section averaging 1.85 g/t Pd Eq. The new drill holes will test a recently modeled basin structure developed in the lower stratigraphy of the intrusion. This basin structure occurs on the north flank of a potential feeder structure and is generally coincident with a sharp gradient in the magnetic field signature, extensive resistivity and conductivity anomalies, and outcropping palladium mineralization (Figure 1). The planned holes will cover a distance of approximately 350 metres extending both to the east and west of hole EBL20-13.
Figure 1. Planned Holes for the Central Parisien Lake target area, East Bull Lake Intrusion.
The Company is currently finalizing plans for several drill holes in the East Lobe of the intrusion that will target coincident geological, geophysical and geochemical anomalies similar to those seen in the Central Parisien Lake target area. Drilling on the East Lobe is expected to commence in mid-February.
ThSeeker
3 years ago
Somebody likes Grid
Mackenzie reports that the number of Shares and Warrants of Grid Metals held by Mackenzie’s managed accounts as at
December 31st, 2020 was 8,000,001 Shares and Warrants, representing approximately 11.258% of the total Shares outstanding of 71,060,734.
ThSeeker
3 years ago
Grid Metals Commencing Drill Program at East Bull Lake Palladium Property 1/7/2021
TORONTO, ON / ACCESSWIRE / January 7, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to provide shareholders with an update on corporate developments and activities. The Company announced on December 24, 2020 the closing ( subject only to the final regulatory approval of the transaction) of a non brokered financing which raised gross proceeds of $2.74 million
East Bull Lake Palladium Project - Drill Program
The Company is pleased to announce that it will be proceeding with a drill program at the East Bull Lake Palladium Property. The initial target will be the Parisien Lake area where the Company recently intersected a near surface zone of palladium-dominant mineralization featuring 119 metres averaging 1.13 g/t palladium equivalent (Pd Eq) grade including 48 metres averaging 1.85 g/t Pd Eq (see Company news release dated Dec. 3, 2020). Drilling is expected to commence in mid January and will consist of a minimum of 3,000 meters to be completed in the Parisien Lake and East Lobe target areas. More detailed information on the drilling plan will be provided near the commencement of the program.
Grids' East Bull Lake Palladium Property covers approximately 85% of the ~20 kilmotre x ~ 4 kilometre East Bull Lake Intrusion located 80 km west of Sudbury, Ontario. The complex hosts widespread magmatic sulfide mineralization dominated by palladium and copper and including significant quantities of platinum, gold and nickel. Rising demand for palladium use in autocatalysts and a lack of new global supply provides a solid fundamental backdrop to Grid's exploration initiative to outline a significant new deposit at East Bull Lake.
Bannockburn Nickel Property - Timmins
Demand for nickel projects is expected to increase in the coming years with greater adoption of electric vehicles. Grid owns a 100% interest ( subject to a 2% NSR ) in mining claims comprising the Bannockburn Nickel Property south of Timmins, Ontario. The property was acquired from Outokumpu Mining in 2003. The property hosts disseminated nickel mineralization within a large serpentinized ultramafic body. The geologic target is similar to Canada Nickel Company's Crawford Project. Bannockburn also hosts several known lenses of komatiite-hosted, nickel-bearing massive sulfides.
Grid has commissioned a NI 43-101 Technical Report on the Bannockburn Propery which is being completed by Caracle Creek Consulting. The report is expected to be completed in the next several weeks. The report will summarize the historical information on the project including a significant amount of geophysics and drilling completed by Outokumpu as well as the work completed from 2003 to 2005 by Grid Metals ( then called Mustang Minerals Corp.)
Annual Meeting
The annual meeting of the Company was held on January 6, 2021 after being delayed previously due to Covid 19. Robin Dunbar, Thomas Meredith and Edward Munden were re-elected directors of the Company. The resolutions contained in the Management Information Circular dated November 25, 2020 were approved by shareholders.
Dave Peck P. Geo is the Qualified Person for Grid Metals for purposes of National Instrument 43-101 and has approved the technical content of this press release.
About Grid Metals Corp.
Grid Metals Corp. is an exploration and development Company that has a diversified portfolio of projects in the nickel-copper-platinum group metal sectors. These commodities are vital to the emerging battery metals, energy storage and automotive sectors. Grid's projects are located in Canada and all are near infrastructure. The Company is focused on timely advancement of its property portfolio through prudent exploration and development activities. To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
ThSeeker
3 years ago
Grid Metals Corp. Closes C$2.74M Private Placement
12/24/2020
TORONTO, ON / ACCESSWIRE / December 24, 2020 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to announce that its has closed its previously announced private placement for gross proceeds of
C$ 2,742,966 (the "Offering"), including exercise of the Company's over-allotment option. Under the Offering, the Company sold the following securities:
2,833,336 units of the Company (the "Units") at a price of C$0.15 per Unit;
4,988,028 flow-through units of the Company (the "FT Units") to traditional flow-through purchasers at a price of C$0.17 per FT Unit; and,
7,000,002 flow-through units of the Company (the "Charity FT Units") sold to charitable flow-through purchasers at a price of C$0.21 per Charity FT Unit.
Each Unit consisted of one common share of the Company (each, a "Common Share") and one half of one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of C$0.22 at any time on or before December 24, 2022. Each FT Unit and Charity FT Unit will be comprised of one common share of the Company to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one Warrant.
The net proceeds from the Units will be used for exploration primarily of the Company's East Bull Lake Palladium property and general working capital purposes. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act ("Qualifying Expenditures"). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2020,
ThSeeker
3 years ago
December 14, 2020 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to announce a non-brokered private placement of securities of the Company to raise gross proceeds of up to C$2,250,000 (the "Offering"). The Offering will be comprised of any combination of the following:
Non flow-through units of the Company (the "Units") to be sold at a price of C$0.15 per Unit;
Flow-through units of the Company (the "FT Units") to be sold at a price of C$0.17 per FT Unit; and
Charitable flow-through units of the Company (the "Charity FT Units") to be sold at a price of C$0.21 per Charity FT Unit.
Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one half of one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of C$0.22 for a period of 24 months from the closing date of the Offering. Each FT Unit and Charity FT Unit will be comprised of one common share of the Company to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one Warrant. The exact number of Units, FT Units and Charity FT Units sold will be determined at the closing of the Offering. Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.
The Company may elect to increase the size of the Offering by selling additional Units, FT Units or Charity FT Units at the offering prices for additional gross proceeds of up to C$500,000.
The net proceeds from the Units will be used for exploration of the Company's East Bull Lake property and general working capital purposes. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act ("Qualifying Expenditures"). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2020, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.
The closing of the Offering is expected to occur on or about December 24, 2020 and is subject to receipt of all necessary regulatory approvals. The Common Shares, FT Shares, and any Common Shares issuable upon the exercise of the Warrants and finder's warrants issued with respect to the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
ThSeeker
4 years ago
Grid Metals Corp Updates Drilling Program at East Bull Lake
https://gridmetalscorp.com/news/grid-metals-corp-updates-drilling-program-at-east-bull-lake/
Toronto, Ontario, October 7, 2020 – Grid Metals Corp. (the "Company") (TSXV:GRDM) today provided an update regarding its 2020 exploration program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The Company is exploring for palladium mineralization along a 12-kilometre-long interpreted feeder structure. The East Bull Lake Property covers approximately 85% of the palladium-bearing East Bull Lake Intrusion, located approximately 80 km west of Sudbury, Ontario.
Highlights
-Drilling resumed in early September and to date four holes have been completed – assays are pending
-An additional three holes are planned
-The next hole will be in an area of anomalous palladium mineralization identified in surface grab samples taken in August 2020 including a maximum of 7.67 g/t Pd, 1.41 g/t Pt and 0.20 g/t Au in one sample from the Parisien Lake target area
-Initial work has been completed on metal tenors on drill samples from East Bull and results compare favourably with those typically observed in mill feed at the Lac des Iles palladium mine
Update on Drilling Activities
Since resumption of drilling on September 3rd four new drill holes have been completed including a follow-up hole on the Feeder Target in the Parisien Lake area and three holes drilled at the North Margin Target area. Three more holes are planned - two holes in the East Lobe of the intrusion and one additional hole in the Parisien Lake - Kidd Zone area. Completed and proposed hole locations for the current drilling program are shown on Figure 1, below. Samples have been submitted for assay analysis on three of the first four holes with results now pending.
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