Grid Metals Corp Announces More Lithium Drill Results from Donner Lake
GRID METALS CORP ANNOUNCES MORE LITHIUM DRILL RESULTS
FROM DONNER LAKE
February 22, 2023. Grid Metals Corp (TSXV:GRDM; OTCQB:MSMGF) (the "Company") today reported
results from an additional 12 holes at its Donner Lake Lithium Property (the "Property"), located 150 km
northeast of Winnipeg Manitoba. The drilling is part of the maiden 43-101 compliant resource delineation
program at Donner Lake. The current phase of drilling at the Main Dyke has now been completed.
• Results continue to outline a steeply -dipping LCT-type pegmatite dyke with visible spodumene
mineralization.
• All holes drilled to date in the 800m core resource area have hit the Main Dyke and all holes
reported to date have returned significant lithium values.
• Sub-parallel spodumene-bearing pegmatites have also been intersected in many of the completed
holes in both the footwall and hangingwall of the Main Dyke.
• The Main Dyke remains open at depth and along strike.
• Resource drilling is now commencing at the Northwest Dyke located 1 km to the west to follow
up on drilling completed in 2022.
• Drilling for a maiden lithium resource for both the Main and No rthwest dykes is on track for
completion by the end of March 2023.
• A metallurgical test program involving composite samples from both the Main and Northwest
dykes is nearing completion and will be reported on in the near future.
Donner Lake is currently a 75% / 25% joint venture with Lithium Royalty Corp. Grid has an MOU in place
with Tantalum Mining Corporation of Canada Limited focused on creating a toll milling operation to
process spodumene-bearing pegmatites from Grid’s Donner Lake Property.
Assays from the newly reported drill holes at the Main Dyke are shown below.
Drill hole Li2O
Interval
(m)
From
(m)
GDL-22-26 1.7% 1.9 190.0
and 1.2% 0.8 287.2
and 2.0% 5.9 291.5
and 1.6% 2.7 302.8
GDL22-27 to GDL22-30 previously
reported
GDL22-31 1.4% 5.3 187.3
GDL22-32 1.8% 6.1 230.0
GDL22-33 2.1% 1.7 110.3
and 1.5% 5.9 252.1
GDL22-34 1.5% 3.4 50.8
GDL22-35 1.6% 3.8 175.0
GDL22-36 1.8% 3.5 60.8
GDL22-37 1.8% 7.5 213.5
including 2.1% 4.0 217.0
GDL22-38 1.7% 3.6 139.4
GDL22-39 Assays pending
GDL22-40 1.7% 3.8 151.5
GDL22-41 1.8% 5.3 178.3
GDL22-42 1.8% 3.3 212.4
and 1.6% 4.4 295.3
Above: Table of length-weighted average LiO2 concentrations for drill holes GDL22-26 and GDL22-31 to
GDL22-42 drilled on the Main Dyke including results from GDL22 -26 which had not been previously
released. Interval lengths are apparent widths with true widths generally estimated to represent between
50% and 80% of the reported interval lengths depending on the hole orientation UTM coordinates,
azimuth and dip of above holes are tabulated later in this release.
Above: Longitudinal section, looking to the northwest, showing pierce points and selected assay values at
the Main Dyke for all completed resource delineation drill holes.
Discussion and Analysis
The Main Dyke resource delineation drilling has confirmed a mini mum vertical depth of approximately
350m over a minimum strike length of approximately 800 metres . The Company is pleased to note that
the deepest holes completed to date at the Main Dyke continue to show excellent spodumene content
and consistent widths.
Resource drilling will now shift to the Northwest Dykes where a ~ 600m strike length has been outlined
for delineation.
The Company is pleased to note that it has received initial results from a drone mag survey over the core
area at Donner Lake. The s urvey results will be integrated with lithogeochemical data generated by the
2022 field program to assess and prioritize new exploration targets for the property.
Above: Location of the Donner Lake lithium property in relation to the Tanco Mine , Grid’s Makwa and
Mayville Ni-Cu-Co-PGM properties and the city of Winnipeg.
About Donner Lake Lithium
Donner Lake Lithium is a 75%/25% joint venture project between Lithium Royalty Corp and Grid Metals
Corp. with Grid Metals as the project operator. Resource drilling at two known LCT spodumene bearing
dykes is expected to be competed by end of March 2023 to be followed by an initial NI 43 -101 resource
estimate. An Advanced Exploration Permit application is being prepared which would enable a bulk
sample which planned to be completed at the nearby Tanco Mine – Canada’s only hardrock lithium
producer. Grid has a MOU in place with Tanco for possible toll milling at the Tanco Mine.
QAQC
The exploration program at Donner Lake is being supervised by Carey Galeschuk , P.Geo., who is an
experienced lithium geologist with nearly three decades of exploration experience in the Bird River Belt
with Grid Metals, Tantalum Mining Corporation of Canada and other companies. Grid Metals applies best
practice quality assurance and quality control ("QAQC") protocols on all it ’s exploration programs. For
the Donner Lake Lithium Project drilling program, core was logged and sampled at the Company’s core
facility located on the Makwa Property. Generally, 1.0 metre sample lengths were used. Samples were
bagged and tagged and then transported by secure carrier to the Actlabs (Thunder Bay) laboratory for
sample preparation and analysis for lithium, cesium, tantalum and selected major a nd trace element
abundances using a sodium peroxide fusion total digestion method followed by ICP -OES and ICP -MS
analysis. The Company is using two lithium + rare metal certified reference materials ("CRMs") and an
analytical blank for the program to moni tor analytical accuracy and check for cross contamination
between samples.
Mr. Galeschuk has reviewed and approved the contents of this press release with respect to NI 43 -101
reporting guidelines.
About Grid Metals Corp.
Grid Metals is focused on both lithium and Ni-Cu-PGM in the Bird River area approximately 150 km north
east of Winnipeg Manitoba. In addition to activity at Donner Lake the Company has a PEA stage Ni -Cu-
PGM-Co project (Makwa-Mayville) undergoing exploration and development activity. The projects are in
the traditional territory of the Sagkeeng First Nation.
On Behalf of the Board of Grid Metals Corp.
For more information about the Company please see the Company website at www.gridmetalscorp.com
or contact:
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: [email protected]
David Black - Investor Relations Email: [email protected]
We 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) (togethe r, "forward-looking statements"). Such forward -looking
statements include the Company’s closing of the proposed financial transactions, sale of royalty and
property interests. 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 flu ctuations, 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.sedar.com.
Neither the TSX Venture Exchange nor its Regulations Service s 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.
This news release does not constitute an offer of securities for sale in the United States. The sec urities
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.
Hole Start End Depth (m) Azimuth Dip UTM East UTM North
GDL22-19 11-28-2022 10-30-2022 191 147 -45 317627 5610286
GDL22-20 10-30-2022 11-02-2022 248 147 -70 317627 5610286
GDL22-21 11-02-2022 11-04-2022 157 147 -45 317556 5610213
GDL22-22 11-04-2022 11-06-2022 191 147 -76 317556 5610213
GDL22-23 11-06-2022 11-09-2022 92 147 -45 317464 5610097
GDL22-24 11-09-2022 11-11-2022 188 147 -70 317464 5610097
GDL22-25 11-12-2022 11-14-2022 278 147 -49 317372 5610239
GDL22-26 11-14-2022 11-17-2022 353 147 -65 317372 5610239
GDL22-27 11-13-2022 11-15-2022 254 147 -47 317351 5610179
GDL22-28 11-15-2022 11-18-2022 272 147 -64 317351 5610180
GDL22-29 11-22-2022 11-24-2022 269 147 -45 317264 5610148
GDL22-30 11-24-2022 11-26-2022 296 147 -58 317264 5610148
GDL22-31 11-18-2022 11-21-2022 242 147 -47 317203 5610058
GDL22-32 11-22-2022 11-25-2022 282 147 -65 317203 5610058
GDL22-33 11-18-2022 11-22-2022 317 147 -45 317136 5610117
GDL22-34 11-24-2022 11-26-2022 119 147 -45 317109 5609841
GDL22-35 11-27-2022 11-29-2021 239 147 -58 317070 5609956
GDL22-36 11-26-2022 11-28-2022 224 147 -65 317109 5609841
GDL22-37 11-29-2022 12-02-2022 353 147 -65 317070 5609956
GDL22-38 11-28-2022 11-30-2022 195.75 147 -45 317000 5609910
GDL22-39 11-30-2022 12-03-2022 224 147 -65 317000 5609910
GDL22-40 12-03-2022 12-05-2022 290 147 -45 317140 5610000
GDL22-41 12-05-2022 12-08-2022 335 147 -55 317140 5610000
GDL22-42 12-04-2022 12-07-2022 335 147 -55 317470 5610340
GDL22-43 12-08-2022 12-10-2022 199 147 -45 317672 5610320
GDL22-44 12-10-2022 12-13-2022 239.4 147 -65 317672 5610320
GDL22-45 12-08-2022 12-10-2022 206 147 -45 317030 5609810
GDL22-46 12-10-2022 12-11-2022 38 147 -45 316930 5609900
GDL22-47 12-11-2022 12-14-2022 302 147 -45 316930 5609900
GDL23-48 01-06-2023 01-10-2023 377 147 -65 316930 5609900
GDL23-49 01-05-2023 01-09-2023 182 147 -45 316970 5609771
GDL23-50 01-09-2023 01-12-2023 215 147 -45 316900 5609730
GDL23-51 01-10-2023 01-16-2023 494 147 -45 316740 5610020
GDL23-52 01-13-2023 01-17-2023 332 147 -45 316730 5609780
GDL23-53 01-16-2023 01-18-2023 209 147 -45 316655 5610023
GDL23-54 01-17-2023 01-20-2023 323 147 -65 316730 5609780
GDL23-55 01-18-2023 01-21-2023 291.8 147 -65 316655 5610023
GDL23-56 01-21-2023 01-23-2023 167 147 -45 316791 5610057
GDL23-57 01-21-2023 01-27-2023 380 138 -60 317132 5610130
GDL23-58 01-23-2023 02-03-2023 398 146 -52 316794 5609962
GDL23-59 01-27-2023 01-31-2023 374 164 -58 317132 5610130
GDL23-60 02-03-2023 02-08-2023 356 149 -67 317263 5610160
GDL23-61 02-03-2023 02-07-2023 395 147 -50 316923 5610050
GDL23-62 02-08-2023 02-12-2023 416 148 -55 317279 5610280
GDL23-63 02-07-2023 02-11-2023 407 146 -53 316990 5610094
GDL23-64 02-12-2023 02-14-2023 341 146 -55 317369 5610336
GDL22-65 02-12-2023 02-17-2023 374 147 -45 316630 5609560
GDL22-66 02-17-2023 02-20-2023 400 147 -45 316250 5609360
Summary Donner Lake Lithium Project 2022-2023 DDH Project - Main Dyke Area