Grid Metals Corp Announces Strong Second Wave of Results from the Main Dyke Lithium Drilling
GRID METALS CORP ANNOUNCES STRONG SECOND WAVE OF RESULTS
FROM THE MAIN DYKE LITHIUM DRILLING
February 2, 2023. Grid Metals Corp (TSXV:GRDM; OTCQB:MSMGF) (the "Company") today reported
results from an additional five (5) holes at its Donner Lake Lithium Property (the "Property"), located in
the Bird River Greenstone Belt of southeastern Manitoba. The holes are part of an ongoing resource
delineation drilling program at the Main Dyke. All delineation holes from the curr ent campaign have
intercepted significant, high grade lithium values in the Main Dyke and, locally, in at least three proximal
sub-parallel dykes that were not previously known . 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.
Highlights from the five new drill holes at the Main Dyke are shown below.
Above: Table of length -weighted average LiO2 concentrations for drill holes GDL22-25 to GDL22 -30
drilled on the Main Dyke (assays are still pending for GDL22 -26). Interval lengths are estimated to
Assays
Azimuth Dip From (m) To (m) Li2O % Interval (m)
GDL22-25 147° -49 135.88 138.12 1.1 2.2
236.52 243.66 1.5 7.1
256.26 259.14 1.3 2.9
Azimuth Dip From (m) To (m) Li2O % Interval (m)
GDL22-27 -47 147° 75.95 78.12 1.4 2.2
216.77 218.65 1.9 1.9
220.34 223.33 1.8 3.0
244.08 244.56 0.5 0.5
Azimuth Dip From (m) To (m) Li2O % Interval (m)
GDL22-28 147° -64 109.39 111.43 1.7 2.0
252.22 259.20 1.6 7.0
Azimuth Dip From (m) To (m) Li2O % Interval (m)
GDL22-29 147° -45 86.25 86.90 1.3 0.7
221.65 222.65 0.5 1.0
224.35 225.2 0.7 0.8
226.48 228.22 1.5 1.7
Azimuth Dip From (m) To (m) Li2O % Interval (m)
GDL22-30 147° -58 106.28 107.60 1.9 1.3
251.36 257.15 1.8 5.8
Zone IntervalDrill Hole
represent between 50% and 80% of the true width of the spodumene -rich pegmatite intersections
reported.
“We are pleased to see continued high-grade lithium values from our resource drilling at the Main Dyke,
which is successfully tracing the Main Dyke to significant depth ” said Robin Dunbar, President and CEO
of Grid. “The Main Dyke to date has been very consistent in the core ~800m resource drilling area. While
we have many more exploration targets at Donner Lake we are currently focused on delineating an initial
resource for the property from both the Main and Northwest Dykes.” he added.
Above: Completed and planned drill holes at the Main and Northwest Dykes. The area to the south of the
Diorite Unit at the Main Dyke (B) is considered highly prospective as a follow up exploration target. The
white polygons represent the current focus for the initial resource delineation drilling. The area between
the Main and Northwest Dykes (A) is also considered prospective for discovery of further pegmatites. The
base image is the a pparent resistivity depth slice at 100m below surface derived from a historical VTEM
survey. Areas of low resistivity (cold/blue colours) are known to be associated with prospective host mafic
rocks such as basalt and gabbro".
Discussion and Analysis
This news release is reporting on holes GDL22 -25 to GDL22 -30 (assays are still pending for GDL22 -26).
Grid has now drilled 19 drill holes as part of the resource delineation drilling at the Main Dyke. Several
other exploration holes have been completed to attempt to extend the strike extent of the Main Dyke
and to provide an initial test of the mapped area occupied by the nearby Southwest Dykes.
Key findings to date include:
• Thus far the Main Dyke is showing excellent continuity of visible spodumene content within a core
zone representing ~800 metre of strike length.
• Drilling is also locally encountering one or more narrower spodumene -rich pegmatites in the
immediate (i.e., within <50m) hangingwall and footwall to the Main Dyke.
• Mineralization consists coarse -grained spodumene blades (see picture attached) and lesser
quartz-spodumene (“SQUI”) intergrowths.
Program Plans
Over the next ~2 months, the Company plans to complete the initial resource delineation drilling program
at the Main Dyke and the Northwest Dyke. The resource drilling at the Northwest Dyke will include infill
and extension holes to augment results obtained from the 15 holes completed during the previous winter
drilling campaign. A number of exploration targets proximal to the Main Dyke and Northwest Dyke are
also being assessed and could also be drilled before the conclusion of the current campaign. In particular,
the southwest extension of the Main Dyke (south of diorite unit shown on the map, above) and the major
gap area between the Main and Northwest dykes - which is low-lying, bog-covered and poorly exposed,
are considered as immediate priorities for exploration drilling.
Other work currently being conducted in relation to the Donner Lake Property includes:
• a metallurgical test program at the XPS laboratory in Sudbury, which is nearing completion;
• a drone magnetic geophysical survey to guide future exploration; and,
• integration of the 2022 field program lithogeochemical sampling results with geophysical data to
help guide future exploration activities.
Preparation of an Advanced Exploration Permit (AEP) application and associated environmental studies
are ongoing with the application near completion. Approval of the AEP application would enable the
Company to complete a bulk sampling program at Donner Lake. The bulk sample materials would be sent
for processing at the nearby Tanco spodumene concentrator, as contemplated in the recently signed MOU
with Tanco. The Tanco Min e is located approximately 50 kilometers by road from the Donner Lake
property and is currently Canada’s only producer of spodumene concentrate.
Above: Main Dyke in GDL22-28 (252.22 to 259.20 m grades 1.62% Li2O over 6.98 m)
Above: Close-up of Main Dyke in GDL22-28 (252.22 to 259.20 m grades 1.62% Li2O over 6.98 m) showing
coarse-grained white spodumene crystals set in a matrix of grey-coloured quartz and albite.
QAQC
The exploration program at Donner Lake is being supervised by Ca rey 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 samp le 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 and trace element
abundances using a s odium 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 monitor 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.
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) (together, "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 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.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 ID Easting (m) Northing (m) Elevation (m) Azimuth Dip Length (m)
GDL22-25 317377 5610245 302 147 -49 278
GDL22-27 317352 5610185 303 147 -48 254
GDL22-28 317352 5610185 303 147 -64 272
GDL22-29 317264 5610157 305 147 -45 269
GDL22-30 317264 5610157 305 147 -58 296
Above: Specifications for drill holes reported in this news release. Easting and northing coordinates are
based on a NAD83 UTM Zone 15N projection.