Grid Metals Corp. (TSXV: GRDM) (OTCQB: MSMGF) received high-grade lithium results from its Northwest dike drill program at the Donner Lake Lithium Property in Manitoba.
The company announced on Wednesday it had received all assays from its winter drilling program, which will be used in its forthcoming maiden resource estimate anticipated prior to the end of Q2, 2023.
Grid Metals has made significant strides in advancing the Donner Lake Lithium Project, progressing to the resource estimation stage within a little over a year since drilling commenced in February 2022. Throughout 2023, the company drilled 66 resource holes, covering a distance of 17,696 meters at both the Main Dike and Northwest Dike areas.
A few examples include:
- GDL 23-68: 5.9 metres of 1.59 per cent Li2O starting at 14.5 metres
- GLD 23-74: 6.9 metres of 1.56 per cent Li2O starting at 59.1 metres
- GDL 23-78: 10.7 metres of 1.13 per cent Li2O starting at 185.2 metres
- GDL 23-81: 6.7 metres of 1.60 per cent Li2O starting at 54.2 metres
- GDL 23-84: 5.0 metres of 1.37 per cent Li2O starting at 262.7 metres
In 2022, the company carried out drilling activities, and in 2023, the resource drilling program for the NW Dike involved 19 holes spanning a total distance of 4,379 meters.
“The results highlight strong continuity of mineralization across the core area of the dike with the pegmatite remaining open at depth and to the south along strike,” said Robin Dunbar, CEO of Grid Metals.
“We look forward to releasing a maiden resource estimate at Donner Lake before the end of this quarter that will include the 2023 resource drilling at both the Main and Northwest dykes.”
Donner Lake lithium property map. Image via Grid Metals.
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Grid Metals owns majority stake in Donner Lake Lithium Property
Grid Metals is a company that focuses on the exploration and development of both lithium and Ni-Cu-PGM (Nickel-Copper-Platinum Group Metals) resources. It has particular interest in the Bird River area, which is approximately 150 kilometres northeast of Winnipeg, Manitoba.
The company holds a 75 per cent ownership stake in the Donner Lake Lithium Property, which is subject to a joint venture agreement with Lithium Royalty Corp (TSX: LIRC). This property is a significant part of its lithium exploration and development activities.
In addition to its involvement with Donner Lake, Grid Metals also holds the Falcon West Lithium Property, located southeast of Winnipeg. This property represents another area of interest for its lithium-related endeavours.
Furthermore, the company is engaged in exploration and development activities for a Nickel-Copper-Platinum Group Metals-Cobalt project called Makwa-Mayville. This project has reached the Preliminary Economic Assessment (PEA) stage, indicating that it is undergoing further evaluation and analysis for potential future development.
Other companies presently operating in Manitoba include The Tantalum Mining Corporation of Canada Limited, which is a subsidiary of Chinese owned Sinomine Resource Group. It owns and operates the Tanco Mine located at Bernic Lake in southeastern Manitoba.
Also, Far Resources‘ (CSE: FAT) (OTCMKTS: FRRSF) Zoro Lithium Project is in east-central Manitoba 20 kilometres east of the historic mining town of Snow Lake.
Grid Metals shares rose 3.7 per cent to $0.14 on Wednesday on the TSX Venture Exchange.
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