CA Market News
1月前
Grid Metals Announces TSX Venture Approval for Thompson East Copper/Nickel Project Earn-In TransactionMay 5, 2026 5:00 PM
ACCESS NewswireTORONTO, ON / ACCESS Newswire / May 5, 2026 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to announce it has received conditional approval from the TSX Venture Exchange ("TSXV") for its previously announced transaction with Boliden Mineral Canada Ltd. ("Boliden") on April 15, 2026, for the option of the Thompson East Project in Northern Manitoba.The option and joint venture agreement grants Boliden an option to acquire an 80% interest in the Thompson East Project by funding cumulative expenditures of at least CAD$9,600,000 and making staged cash payments of CAD$500,000 to Grid. After receipt of TSXV approval, Grid is now entitled to receive an initial cash payment of CAD$200,000.On Behalf of the Board of Grid Metals Corp.For more information about the Company, please visit our website at www.gridmetalscorp.com or the Company's Curation Connect showcase here or contact:
Robin Dunbar - President, CEO & Director - rd@gridmetalscorp.com
Brandon Smith - Chief Development Officer - bsmith@gridmetalscorp.com
David Black - Investor Relations - info@gridmetalscorp.comCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSWe seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include statements related to the transaction with Boliden, the Company's overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedarplus.ca.Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.SOURCE: Grid Metals Corp.View the original press release on ACCESS NewswireOriginal: Grid Metals Announces TSX Venture Approval for Thompson East Copper/Nickel Project Earn-In Transaction
CA Market News
1月前
Grid Metals Reports Second Batch of Assays from its Phase 2 Drill Program at Falcon West; Cesium Mineralization Intercepted 75 m North of Lucy South Target AreaMay 5, 2026 7:00 AM
ACCESS NewswireTORONTO, ON / ACCESS Newswire / May 5, 2026 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to report additional cesium and lithium values from drilling at its 100% owned Falcon West Property (the "Property"). The focus of the Phase 2 drill program is to expand the limits of the Lucy South cesium target area and to complete step-out drill holes within the immediate project area. Cesium is designated a critical metal in both the US and Canada and, at the current time, the potential sources of cesium-bearing pollucite globally are considered extremely limited.Drilling HighlightsNotable cesium intercepts from holes LU26-12 to LU26-50 in the Lucy South target area include:3.65 m grading 2.51% Cs2O including 0.35 m grading 15.1% Cs2O (LU26-19; from 26.1 metres)2.20 m grading 3.15% Cs2O including 0.56m @ReturntoSender; from 31.3 metres)2.25 m grading 2.87% Cs2O (LU26-24; from 18.1 metres)1.73 m grading 2.44% Cs2O (LU26-25; from 23.3 metres)2.54 m grading 1.84% Cs2O (LU26-26; from 25.7 metres)1.78 m grading 1.50% Cs2O (LU26-27; from 15.5 metres)2.70 m grading 4.34% Cs2O (LU26-33; from 22.2 metres)Drilling also intersected cesium mineralization 75 m north of the Lucy South target area with hole LU26-50 returning 1.24 m grading 2.40% Cs2O (from 20.4 metres).Elevated grades of lithium were also observed in a number of holes (see Appendix 1) including 6.40 m grading 2.95% Li2O (LU26-21), 6.14 m with 2.95% Li2O (LU26-28), 4.25m with 3.81% Li2O (LU26-32), 3.00 m with 3.68% Li2O (LU26-35), 15.4 m with 1.30% Li2O (LU26-37), and 8.30 m with 1.39% Li2O (LU26-49).Grid expects to commence work on an initial cesium resource estimate for Lucy South immediately following receipt of all assays from the Phase 2 program (17 holes are pending). The Company expects to complete the maiden resource in Q3/26.Figure 1: Map of Lucy South target area with interpreted pierce points, projected vertically to surface, into the top of the Lucy South LCT pegmatite. Pierce points include those from newly reported holes LU26-12 to LU26-50 and those previous reported holes. Background image is based on a recent government LIDAR survey. Table 1: Selected Length-Weighted Cesium Interval Assays from Drill Holes LU26-12 to LU26-50, Lucy South Phase 2 Drilling Program which commenced in January 2026. See Appendix 1 for complete results and Appendix 2 for hole locations. Note the true thickness for each interval reported is estimated to represent between 80% and 100% of the reported interval lengths.Hole
IDFrom (m)To (m)Length (m)Cs2O (%)Li2O (%)Rb2O (%)Ta2O5 (ppm) LU26-1926.1029.753.652.511.770.20531inc.28.2529.751.504.812.140.33177with28.2528.600.3515.052.070.5049 LU26-2128.1034.506.401.172.950.20318inc.31.3033.502.203.152.410.08701with32.0032.560.566.571.990.10150 LU26-2416.9521.804.851.381.150.26142inc.18.1020.352.252.871.650.2670with20.1020.350.256.931.620.2650 LU26-2523.2525.352.102.050.930.32197inc.23.2524.050.804.541.110.1880 LU26-2624.9028.243.341.440.970.39268inc.25.7026.901.203.251.430.40225with26.6526.900.2511.442.580.35173 LU26-2715.2518.463.210.932.440.1379inc.15.4817.261.781.502.270.1253 LU26-3321.5025.353.853.121.420.53184inc.22.2524.952.704.341.390.40126with23.3024.200.907.720.780.49140 LU26-5020.0022.182.181.491.140.62564inc.20.4021.641.242.400.800.39796with21.0021.200.2013.040.800.501000Discussion and Analysis:Results for the second batch of assays (holes LU26-12 to LU26-50) from the Phase 2 drill program are reported herein. Eight (8) of the 39 drill holes drilled intercepted pollucite mineralization and 29 intercepted spodumene mineralization (see Figure 1, above).Phase 2 was designed to: (1) Define the limits of the Lucy South pollucite zone; (2) Fill key gaps within the zone in order to maintain an average pierce point spacing of 10 metres or less; and, (3) Test for along and across strike extensions to the Lucy South LCT pegmatite and pollucite-bearing core zone units. All of these objectives have been achieved.A majority of the Phase 2 drill results reported to date were drilled around the periphery of the zone and have allowed the Company to develop a 3D wireframe that captures the known limits of pollucite mineralization in the area.The current dimensions of the Lucy South pollucite zone are 120 metres along strike, 60 metres across strike and
CA Market News
2月前
Grid Metals Reports First Assays From Its Phase 2 Drill Program at Falcon West Including 12.9% Cs2O Over 3.8mApril 1, 2026 7:00 AM
ACCESS NewswireTORONTO, ON / ACCESS Newswire / April 1, 2026 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to report significant cesium, lithium and tantalum values from drilling at its 100% owned Falcon West Property (the "Property"). The exploration target is the Lucy South pegmatite - a globally rare example of a highly fractionated LCT pegmatite - with cesium hosted in the mineral pollucite.The strategic nature of cesium is evidenced by its designation as a critical metal in both the US and Canada. At the current time, the potential sources of pollucite globally are considered extremely limited.Drilling HighlightsNotable cesium intercepts from the first 11 holes of the Phase 2 program include:3.8m with 12.9% Cs2O including 1.6m with 26.5% Cs2O (LU26-03; from 19.6 metres)3.3m with 4.32% Cs2O including 1.0m with 13.8% Cs2O (LU26-11; from 27.8 metres)Drilling also intersected the spodumene-rich parts of the core zone of the Lucy South pegmatite with peak grades approaching the theoretical maximum lithium oxide content of pure spodumene (e.g., 1.2m with 6.16% Li2O in hole LU26-09, from 39.2 metres).Significant tantalum (e.g., 0.9m with 1.48% Ta2O5 in hole LU26-05, from 39.2 metres) and rubidium (e.g. 1.2m with 1.53% Rb2O in LU26-10, from 46.0 metres) were also intersected, further highlighting the extremely fractionated nature of the Lucy South pegmatite.The continuation of a highly fractionated pegmatite environment was confirmed with step-out hole LU26-10,drilled 70 metres to the east of the currently defined limits of the Lucy South Cs-Li-Ta-rich core zone. This drill hole yielded percent level cesium and rubidium grades.The Phase 2 drill program was completed last month with 67 holes drilled for a total of 3,075 metres. This followed the successful Phase 1 drill program that was completed late last year (67 holes, 3,035 metres). Assays for the remaining 56 holes are pending.Figure 1: Map of Lucy South target area with interpreted pierce points, projected vertically to surface, into the top of the Lucy South LCT pegmatite. Pierce points include those from newly reported holes LU26-01 to LU26-11 and those previous reported holes. Background image is based on a recent government LIDAR survey. Table 1: Selected Length-Weighted Cesium Interval Assays from Drill Holes LU26-01 to LU26-11, Lucy South Phase 2 Drilling Program which commenced in January 2026. See Appendix 1 for complete results and Appendix 2 for hole locations. Note the true thickness for each interval reported is estimated to represent between 80% and 100% of the reported interval lengths.Hole IDFrom
(m)To
(m)Length
(m)Cs2O
(%)Li2O
(%)Rb2O
(%)Ta2O5
(ppm)LU26-0223.7027.804.100.721.080.26241LU26-0319.6123.453.8412.90.461.168281inc.19.6121.171.5626.50.321.06190LU26-0431.1032.101.000.063.400.02790LU26-0539.1840.100.920.011.300.0414780LU26-0954.8059.754.950.031.700.0136inc.58.6059.751.150.046.160.0175LU26-1046.0047.151.151.330.901.5325and53.5554.951.401.220.781.443LU26-1127.8031.103.304.321.110.50171inc.29.0030.001.0013.840.950.5280Drill Results DiscussionResults for the first 11 holes from the Phase 2 program are reported herein. These holes extended the resource drilling grid by ~25 metres to the northeast. Four of the 11 drill holes drilled intercepted cesium mineralization and nine intercepted lithium mineralization.The exploration target is the approximate 5m wide core zone of the Lucy South pegmatite which hosts a mineralized package of cesium (pollucite), lithium (spodumene) and tantalum (tantalite) in varying concentrations.In the 120m x 60m area where drilling is concentrated at the Lucy South pegmatite, it is predominantly flat-lying. The pollucite mineralization found is mostly situated no deeper than 30m from surface.LU2026-10 which was drilled 70m to the east (see Figure 1) intercepted a highly fractionated LCT pegmatite at approximately 40m vertical depth and bodes well for future exploration drilling in the area.All 134 drill holes have targeted the Lucy South pegmatite in the 2025/2026 programs (Phase 1 and Phase 2). Grid expects to commence work on an initial cesium resource estimate for Lucy South immediately following receipt of all assays from the Phase 2 program (56 holes are pending).About the Lucy South Pegmatite and CesiumThe Company is undertaking the current drilling at Lucy South in light of the scarcity of global supply of cesium feedstock associated with the mineral pollucite - which is the preferred feedstock for processing into cesium chemicals. LCT pegmatites featuring percentage level grades of cesium are considered geologically rare. Global cesium production has historically occurred from only three LCT pegmatite bodies.The minimum strike length of the pollucite-bearing core zone of the Lucy South pegmatite is ~120 metres and its average width ranges from several metres to ~60 metres. The known pollucite mineralization remains partially open along and across strike.The pollucite mineralization is interpreted to have formed during the last stages of crystallization of the host Lucy South pegmatite, post-dating the spodumene-rich mineralization and forming discrete pockets of Cs-rich pegmatite within the core zone.Exploration potential in the project area remains high with a number of occurrences of spodumene and pollucite mineralization noted in the immediate project area.Cesium is used in a number of important energy and security related applications with the current global production of cesium products largely controlled by a Chinese company. As such, the potential for defining a cesium resource in Manitoba, Canada presents a compelling opportunity for Grid.Figure 2: Map of Current Drill-Defined Extent of the Lucy South and Lucy North LCT pegmatite. Wireframes for pollucite zones (red) and the Li +/- Cs +/- Ta-rich LCT pegmatite core zone (lilac) are based on mineralogical logging and reported Cs2O and Li2O grades. The Lucy LCT pegmatite remains open in a number of directions. About Cesium and the Cesium MarketCesium is defined as a critical metal by both Canada and the U.S. It has growing uses in high technology and important industrial applications. There is currently believed to be a significant shortage of cesium feedstock globally.Quality Assurance and Quality ControlThe Company's ongoing exploration program at the Falcon West lithium property is being supervised by Dave Peck, P.Geo. Grid Metals applies best practice quality assurance and quality control ("QAQC") protocols on all of its exploration programs. For the current program, all core was logged and sampled at the Company's core facility located on its Makwa nickel property. Generally, 1.0 metre sample lengths were used. Samples were bagged and tagged and then transported by secure carrier to the Activation Laboratories facility in Ancaster, Ontario for sample preparation and analysis for lithium, cesium, rubidium, tantalum and selected major and trace element abundances using a sodium peroxide fusion total digestion method followed by ICP-OES and ICP-MS analysis. The Company is using two rare metal certified reference materials ("CRMs") and an analytical blank for the program to monitor analytical accuracy and check for cross contamination between samples. The blank and CRM results for the reported intervals were determined to fall within the accepted range of deviation from the certified values. A check assay program using a similar sodium peroxide fusion digestion method has recently been initiated with check samples being analyzed at AGAT laboratories in Thunder Bay, Ontario.Dr. Dave Peck, P.Geo., the Company's Vice President, Exploration, has reviewed and approved the technical information contained in this release.About Grid Metals Corp.Grid Metals provides a focused cesium opportunity at its 100%-owned Falcon West cesium project with upside optionality at its other mineral projects in southeastern Manitoba:The Falcon West Property (Li-Cs) is located 110 km east of Winnipeg along the Trans-Canada highway and contains highly anomalous cesium and lithium values in LCT pegmatite including the Lucy South pegmatite dyke, the focus of Grid's current exploration efforts.The Makwa Property (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement with Teck Resources Limited ("Teck"). Teck can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid. Makwa is located on the south arm of the Bird River Greenstone Belt.The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone Belt. The property is owned subject to a minority interest. The project contains a NI 43-101 compliant open pit resource of 32 million tonnes grading 0.61% CuEq.The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. The project contains a NI 43-101 compliant resource of 6.8 million tonnes grading 1.39% Li2O.All of the Company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.On Behalf of the Board of Grid Metals Corp.For more information about the Company, please visit our website at www.gridmetalscorp.com or the Company's Curation Connect showcase here or contact:
Robin Dunbar - President, CEO & Director - rd@gridmetalscorp.com
Brandon Smith - Chief Development Officer - bsmith@gridmetalscorp.com
David Black - Investor Relations - info@gridmetalscorp.comCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSWe seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's intended use of proceeds and receipt of regulatory approvals, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedarplus.ca.Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Appendix 1: Drilling results for holes LU6-01 to LU26-11, Lucy South Phase 2 drill program. Collar coordinates are based on the NAD 83 datum and the UTM Zone 15N projection. See Appendix 2 for hole locations. Note the true thickness for each interval reported is estimated to represent between 80% and 100% of the reported interval lengths.Hole IDFrom
(m)To
(m)Length
(m)Cs2O
(%)Li2O
(%)Rb2O
(%)Ta2O5
(ppm)LU26-0117.3418.000.660.701.450.88210 LU26-0223.7027.804.100.721.080.26241inc.24.3324.440.119.341.260.30- LU26-0319.6123.453.8412.90.461.168281inc.19.6121.171.5626.50.321.06190and22.6723.450.7810.10.400.471952and21.1722.171.000.360.651.7221860 LU26-0425.7032.106.400.050.960.17238inc.31.1032.101.000.063.400.02790 LU26-0536.1040.954.850.080.420.152862inc.36.1036.250.150.560.810.1390and39.1840.100.920.011.300.0414780 LU26-0632.0035.003.000.140.660.56692 LU26-0722.7029.907.200.200.680.43319inc.23.7023.850.154.153.600.091550 LU26-0838.8541.732.880.081.030.30636inc.39.1040.000.900.032.150.12270 LU26-0954.8059.754.950.031.700.0136inc.58.6059.751.150.046.160.0175with59.0059.750.750.036.870.01110 LU26-1046.0054.958.950.390.600.59249inc.46.0047.151.151.330.901.5325and48.1549.501.350.091.100.60602and53.5554.951.401.220.781.443 LU26-1127.8031.103.304.321.110.50171inc.29.0030.001.0013.80.950.5280Appendix 2: Drill hole specifications. Collar coordinates are based on the NAD 83 datum and the UTM Zone 15N projection.Drill Hole NumberEasting
(m)Northing
(m)Elevation
(m)Length
(m)Azimuth
(°)Dip
(°)LU26-01321683550269532730315-65LU26-02321694550269232733315-65LU26-03321687550268732742295-80LU26-04321707550268132742285-60LU26-05321707550268132742230-80LU26-06321707550269332745315-65LU26-07321700550270032742315-65LU26-08321715550268832748315-65LU26-09321746550267432769258-45LU26-10321794550267832669315-60LU26-11321709550269932742315-65SOURCE: Grid Metals Corp.View the original press release on ACCESS NewswireOriginal: Grid Metals Reports First Assays From Its Phase 2 Drill Program at Falcon West Including 12.9% Cs2O Over 3.8m
CA Market News
4月前
Grid Metals Continues to Expand Cesium Mineralization at Falcon WestFebruary 3, 2026 7:00 AM
ACCESS NewswireTORONTO, ON / ACCESS Newswire / February 3, 2026 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to report additional assays from the Lucy South target zone at its 100%-owned Falcon West cesium property (the "Property"). The Phase 1 drill program was focused on defining a near-surface zone of pollucite-hosted cesium mineralization in the Lucy South pegmatite, which is a highly-fractionated, shallow- to moderately-dipping, lithium+ cesium+tantalum enriched ("LCT") pegmatite dyke that is approximately 10 metres thick. The cesium is largely contained within the mineral pollucite, which is the preferred mineral for processing into cesium chemicals.Highlights (Drill Holes LU25-12 to 39):High-grade cesium intercepts from holes LU25-12 to LU25-39 (see Table 1) include:7.4m at 6.0% Cs2O with 3.9 at 10.6% Cs2O (LU25-18, from 20.75 metres)8.1m at 5.0% Cs2O with 2.8m at 13.4% Cs2O (LU25-21, from 18.35 metres)12.5m at 5.2% Cs2O with 3.0m at 20.5% Cs2O (LU25-36, from 26.55 metres)The cesium mineralization has now been defined over an initial area of 100 m x 30 m with an average thickness of approximately five (5) metres. The initial target area remains open in a number of directions.High-grade lithium intercepts in the reported drill holes include 4.4m at 3.1% Li2O (LU25-25) and 5.5 m at 4.7% Li2O (LU25-32). Most of the known lithium mineralization in the Lucy South pegmatite is associated with spodumene, as confirmed by visual logging and UV light fluorescence testing.A total of 39 holes have now been reported from the Phase 1 program, in which 67 holes totalling 3,035 metres were completed. A Phase 2 drill program recently commenced and will include both infill and extension drilling around the known pollucite intersections.Dr. Dave Peck, P. Geo., Grid's Vice President of Exploration, stated "We are pleased to continue to report positive cesium and lithium drill results at Lucy South. We are highly encouraged that the near-surface cesium mineralization appears to be showing good continuity within the initial 100 metre long and 30 metre wide target area. We are also pleased with the continuity and grade of associated lithium (spodumene) mineralization at Lucy South, which is spatially associated with the known pollucite intercepts. With both the cesium and lithium mineralization open in a number of directions, we look forward to testing the open-pit potential of Lucy South with our Phase 2 program."Figure 1: Map of Lucy South target area with interpreted pierce points into the top of the flat-lying Lucy LCT pegmatite projected vertically to surface for holes LU25-01 to LU25-39 and previous holes completed in this area The initial priority target area is outlined by the dashed line and represents the outline of the Lucy South pegmatite where it is within approximately 50m of surface. Table 1: Analytical Results for Drill Holes LU25-12 to LU25-39, Lucy South cesium target. See Appendix for hole locations. Note the true thickness for each interval reported is estimated to average 90% of the reported interval lengths.Hole IDFrom (m)To (m)Length (m)Cs2O (%)Li2O (%)Rb2O (%)Ta2O5 (ppm)CommentsLU25-1256.8771.5214.650.120.620.38186Li Richinc.61.9062.951.050.430.980.43144Li + Cs Rich LU25-131.509.117.610.040.330.23266Ta Rich LU25-14No Significant Assays LU25-1524.1027.403.300.323.890.1059.5Li + Cs Rich LU25-1624.0027.433.430.130.460.54227Li + Rb + Ta Richinc.24.9727.022.050.170.590.61287Rb + Li+ Ta Rich LU25-1719.2027.007.800.120.550.45215Li + Rb + Ta Rich LU25-1820.7528.107.356.010.840.3249.5Cs Richinc.22.7026.603.9010.590.610.3040.3"with23.2524.251.0020.890.490.61-" LU25-1931.8536.074.220.072.060.2694.4Li Richinc.32.2934.091.800.044.040.1259.2" LU25-20No Significant Assays LU25-2118.3526.408.054.951.040.50108Cs Richinc.18.7322.854.129.500.720.3977.5"with19.0821.852.7713.360.200.463.07"inc.19.0821.502.4214.180.120.502.48"with19.0820.000.9227.810.250.876.52" LU25-2221.1521.700.553.112.390.3950.0Cs Richand21.7025.413.710.100.410.45326Ta Rich LU25-2321.9031.9010.000.250.940.47131Li Richinc.22.9027.104.200.190.790.73140Rb Richand27.1030.303.200.451.490.24122Li + Cs Rich LU25-2429.0136.617.600.251.970.26146Li Richinc.29.2832.943.660.303.700.04164"with31.0032.941.940.523.260.06236Li + Cs + Ta Richand34.0535.000.950.400.451.09125Rb Rich LU25-2528.1632.584.420.203.090.13157Li Richinc.28.5031.663.160.263.940.10186Li (Cs)and39.4440.461.020.231.361.01221Li + Rb + Ta Rich LU25-2639.3043.544.240.560.670.4333.4Li + Cs Richinc.40.0043.543.540.640.660.4929.3" LU25-2729.5033.403.900.112.170.37131Li Richinc.30.0031.801.800.083.490.1363.3" LU25-28No significant assays LU25-2960.2062.001.800.780.730.7754.4Cs + Rb Rich LU25-3023.1530.006.850.142.130.30152Li Richinc.23.4025.882.480.054.110.03132"and25.8828.802.920.261.250.57192Li + Rb Rich LU25-3125.6033.457.850.161.210.69229Li + Rb Richinc.26.1531.655.500.171.420.78244" LU25-3221.2028.006.801.083.910.12325Li + Cs + Ta Richinc.21.3026.805.501.324.720.08357"and26.0026.800.808.463.500.261450Cs + Li + Ta Rich LU25-3324.1033.659.550.160.910.36198Li Richinc.26.0029.653.650.231.530.41379Li + Ta Richwith27.8029.051.250.421.980.04862Li + Cs + Ta Rich LU25-3424.0030.206.200.951.230.29360Li + Cs + Ta Richinc.25.6527.802.152.572.260.17325Cs + Li + Ta Rich LU25-3525.9032.506.600.112.970.25137Li Richinc.25.9029.883.980.084.320.0498.0"and29.8832.502.620.150.900.57196Li + Rb Rich LU25-3626.5539.0012.455.240.980.27108Cs Richinc.27.2030.152.9520.470.400.74-Cs + Rb Richand30.1535.155.000.781.790.03138Li + Cs Rich LU25-3726.0530.454.400.252.820.50261Li Rich LU25-3825.8531.655.802.802.020.2367.8Cs + Li Richinc.26.4028.802.400.103.880.0471.7Li Richand28.8030.401.609.420.950.3860.6Cs Rich LU25-3925.8031.405.601.441.590.40420Li + Cs + Ta Richinc.26.9529.602.650.432.170.51605Li + Rb + Ta Richand29.6030.801.205.631.600.16523Cs + Li + Ta RichDrill Results DiscussionWith 39 of 67 holes reported from the Q4 2025 Lucy cesium drilling program, a much clearer picture of the geology and grade variability in the Lucy South pegmatite is emerging. Using a combination of geological logging, available assay results and 3D geological and geostatistical modeling software, the following key characteristics of the Lucy South LCT pegmatite have been gleaned:The Lucy South LCT pegmatite, which hosts the lithium, cesium, rubidium and tantalum mineralization reported here and in the previous press releases for the Property, is a tabular dyke that has a general northeast strike, a shallow to moderate southeast dip, and an average true thickness of approximately ten (10) metres. The northwestern part of the dyke is exposed in outcrop;The mineralized target zone within the Lucy South pegmatite consists of spodumene (lithium) and pollucite (cesium). It averages approximately five metres in true thickness and tends to occur in the middle parts of the dyke, with finer-grained wall zones commonly occurring on the upper and lower contacts with the enclosing mafic metavolcanic units;The known pollucite intersections within Lucy South cover a drill-defined initial target area of ~100m along strike and 30 metres downdip, with maximum cesium grade x thickness (from the 39 holes reported to date) reaching 12.45 metres averaging 5.24% Cs2O (LU25-36, Table 1). The maximum individual sample grade reported to date is 0.53 metres with 30.43% Cs2O (hole LU25-21, Table 1);The current distribution of pollucite-bearing drill intersections suggests a general southerly plunge to the highest-grade areas (i.e., Cs2O-rich);The known spodumene-rich intersections extend beyond the area covered by the pollucite-bearing portion of the dyke, with peak Li2O (%) grade x thickness (for the 39 holes reported to date) reaching 6.83 metres with 3.91% Li2O (hole LU25-32, Table 1). Spodumene-rich intersections cover an area of approximately 120 metres along strike and 60 metres across strike;The lithium + cesium-enriched parts of the Lucy South pegmatite remain open up-plunge to the north-northeast, downdip to the southeast, and down-plunge to the south-southwest;The Lucy South pegmatite also hosts anomalous grades of tantalum (e.g., 2.65 metres with 605 ppm Ta2O5 in hole LU25-39; 0.80 metres with 1,450 ppm Ta2O5 in hole LU25-32) and rubidium (e.g., 1.02 metres with 1.01% Rb2O in hole LU25-25); and,Spodumene- +/- pollucite-bearing LCT pegmatite is also present in the Lucy North pegmatite, which is currently interpreted as being either: (a) a structural repetition of the Lucy South pegmatite; or, (b) a separate, southeast-dipping LCT pegmatite dyke located approximately 50 metres below the Lucy South pegmatite.Project and Cesium OverviewThe Falcon West Cesium Project is one of only three known high-grade cesium exploration projects under development, globally. Cesium-rich pollucite ore can be crushed and ore sorted to a high-value pollucite concentrate, which is the principal feedstock for cesium chemical production. As such, the capital intensity of producing a high-grade cesium concentrate from near surface material could be extremely low as a conventional mill and tailings facility would not be required.Cesium is an extremely high-value material with the current price of cesium carbonate trading for US$220,000/t1, approximately ten times the value of lithium carbonate. Its unique properties mean it has a wide variety of industrial applications in the oil and gas, optical, medical and next-generation solar industries.Quality Assurance and Quality ControlThe Company's ongoing exploration program at the Falcon West lithium property is being supervised by Dave Peck, P.Geo. Grid Metals applies best practice quality assurance and quality control ("QAQC") protocols on all of its exploration programs. For the current program, all core was logged and sampled at the Company's core facility located on its Makwa nickel property. Generally, 1.0 metre sample lengths were used. Samples were bagged and tagged and then transported by secure carrier to the Activation Laboratories facility in Ancaster, Ontario for sample preparation and analysis for lithium, cesium, rubidium, tantalum and selected major and trace element abundances using a sodium peroxide fusion total digestion method followed by ICP-OES and ICP-MS analysis. The Company is using two rare metal certified reference materials ("CRMs") and an analytical blank for the program to monitor analytical accuracy and check for cross contamination between samples. The blank and CRM results for the reported intervals were determined to fall within the accepted range of deviation from the certified values. A check assay program using a similar sodium peroxide fusion digestion method has recently been initiated with check samples being analyzed at AGAT laboratories in Thunder Bay, Ontario.Dr. Dave Peck, P.Geo., the Company's Vice President, Exploration, has reviewed and approved the technical information contained in this release.1 SMM pricing, China VAT excluded as of January 2026About Grid Metals Corp.Grid Metals is focused on exploration and development in southeastern Manitoba with four key projects in the region:The Falcon West Property (Li-Cs) is located 110 km east of Winnipeg along the Trans-Canada highway and contains highly anomalous cesium and lithium values in LCT pegmatite including the Lucy South pegmatite dyke, the focus of Grid's current exploration efforts.The Makwa Property (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement with Teck Resources Limited ("Teck"). Teck can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid. Makwa is located on the south arm of the Bird River Greenstone Belt.The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone Belt. The property is owned subject to a minority interest. The project contains a NI 43-101 compliant open pit resource of 32 million tonnes grading 0.61% CuEq.The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. The project contains a NI 43-101 compliant resource of 6.8 million tonnes grading 1.39% Li2O.All of the Company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.On Behalf of the Board of Grid Metals Corp.For more information about the Company, please visit our website at www.gridmetalscorp.com or contact:
Robin Dunbar - President, CEO & Director - rd@gridmetalscorp.com
Brandon Smith - Chief Development Officer - bsmith@gridmetalscorp.com
David Black - Investor Relations - info@gridmetalscorp.comCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSWe seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's intended use of proceeds and receipt of regulatory approvals, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedarplus.ca.Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.Appendix: Drill hole specifications. Collar coordinates are based on the NAD 83 datum and the UTM Zone 15N projection.Drill Hole
NumberEasting
(m)Northing
(m)Elevation (m)Length (m)Azimuth (°)Dip
(°)LU25-123216505502586333.181.0034-65LU25-133216035502633327.751.0098-45LU25-143216035502633327.751.000-90LU25-153216295502619333.042.00250-90LU25-163216295502619333.060.00250-65LU25-173216295502619333.042.00300-45LU25-183216295502619333.036.000-60LU25-193216295502601333.051.000-90LU25-203216295502601333.051.00250-65LU25-213216345502630334.033.000-90LU25-223216345502630334.039.00310-60LU25-233216345502630334.045.0010-60LU25-243216345502630334.042.0070-66LU25-253216385502620334.042.000-90LU25-263216385502620334.051.0058-70LU25-273216385502620334.048.00238-70LU25-283216445502610334.054.000-90LU25-293216445502610334.063.0060-70LU25-303216565502639331.042.00160-77LU25-313216565502639331.042.00208-58LU25-323216565502639331.039.00270-70LU25-333216565502639331.039.00290-50LU25-343216565502639331.039.005-70LU25-353216565502639331.039.0065-74LU25-363216735502668328.045.0085-66LU25-373216735502668328.040.00140-78LU25-383216735502668328.042.00158-62LU25-393216735502668328.042.00175-60SOURCE: Grid Metals Corp.View the original press release on ACCESS NewswireOriginal: Grid Metals Continues to Expand Cesium Mineralization at Falcon West
ThSeeker
5年前
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
5年前
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
5年前
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
5年前
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
5年前
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
5年前
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.