Grid Metals Corp Completes 15 Drill Holes at Donner Lake Lithium Project Drilling Ongoing
GRID METALS CORP COMPLETES 15 DRILL HOLES AT DONNER LAKE
LITHIUM PROJECT
DRILLING ONGOING
November 29, 2022 Grid Metals Corp (TSXV:GRDM; OTCQB:MSMGF) (the "Company") today provided a
progress update on its drill program at its Donner Lake Lithium Property (the "Property"), located in the
Bird River Greenstone Belt of southeastern Manitoba. The program will include resource delineation
drilling at the Main and Northwest dykes and a series of exploration holes targeting untested spodumene
bearing pegmatites. The Company maintains the near-term goal of establishing a maiden resource from
the Main and Northwest dykes via the current drilling program. The property is a 75%/25% joint venture
between Grid Metals Corp. and Lithium Royalty Corp.
Drill Program Update
Main Dyke Drilling
The Company currently has two drills in operation on the Main Dyke and 15 holes for approximately 3400
meters have been completed since the start of the drilling several weeks ago. The Main Dyke is being
drilled at an average pierce point spacing of 75 to 90 meters and approximate vertical depths of between
100m and 250m . This work will complement shallow drilling completed in 2018 and surface channel
sampling completed earlier in 2022. Pegmatite units have been encountered in every hole. The 11 holes
completed in the 2018 drilling program returned average grades of 1.5% Li2O over true widths of
approximately 3 metres at an average vertical depth of approximately 50 metres and over a strike length
of approximately 760 metres. Historical drilling from 1955 on the dy ke covered a strike length of 810
metres. The Main Dyke remains open along strike and to depth.
Later in the program resource delineation drilling will also be completed at the Northwest Dyke where
fifteen (15) exploration holes were completed by the Com pany in the first quarter of 2022. The fifteen
drill holes cover a strike length of 500 metres and returned intersection depths of <100 to >250 metres.
The results of that program indicated that the near surface part of the Northwest Dyke has an averag e
true thickness of ~ 4 metres and an average grade of 1.3% LiO2 (see the Company’s July 28, 2022 New
Release for details). The Northwest Dyke remains open along strike in both directions and to depth.
Exploration Drilling Plan: Several other exploration targets in the area of the Main and Northwest Dykes
are planned to be drilled in the course of the current drill program. Targets include two outcropping dykes
systems. At the Southwest Dykes, 19 surface grab samples were taken of the surface pegmatites with 6
samples yielding assay values greater th an 0.4% Li2O with the highest assay being 2.93% Li2O (Table 1).
The 19 samples were also anomalous in cesium, rubidium, and tantalum. At the South Dykes surface
grab samples also returned anomalous lithium values and tantalum values (up to 579 ppm).
The Company expects to generate additional exploration targets for future drilling through the
integration of surface prospecting and mapping data , historical and recent lithogeoc hemical analyses,
and 2D and 3D geophysical models of both magnetics and apparent resistivity.
Above: Mapped pegmatite dykes at Donner Lake Lithium Property showing areas of resource drlling and
preliminary exploration drill hole locations
Additional Information
The Southwest Dykes were mapped in the summer over an inferred strike length of greater then 250
meters. In the field the dykes were averaging 1.3 meters widths. Fine to coarse grained spodumene blades
were noted in the field investigation and assays are provided below. The maximum surface sample Li2O
grade was 2.93%. The trend of the pegmatites exposed on surface at the Southwest and South Dykes are
is similar to the trends of the Northwest and Main Dykes, i.e., steeply dipping with a northeasterly strike
direction.
Left: Assay Table from 2022 field
sampling of the Southwest Dykes .
Samples are select grab samples taken
in the course of geological mapping.
Above: Surface plan map of the Southwest Dykes with selected Li2O% values. Coordinates are based on
he NAD83 UTM Zone 15N projection.
Sample Easting Northing Li2O(%) Cs (ppm) Rb (ppm) Ta (ppb)
858156 316764 5609979 0.48 305 4200 128
858157 316690 5609934 1.78 156 1780 153
858158 316691 5609935 0.17 447 > 5000 182
858159 316698 5609935 0.44 165 1930 110
858161 316716 5609947 1.78 309 3110 141
858162 316747 5609955 0.04 69 790 92.9
858163 316750 5609971 0.06 241 3490 224
858164 316766 5609979 0.87 144 2020 79.9
858165 316771 5609989 0.03 97.9 1750 66.3
858166 316779 5609979 2.93 143 1920 90.8
858167 316774 5609972 0.03 176 2380 1.5
858168 316777 5609967 0.02 34.6 228 319
858344 316613 5609851 0.11 324 4170 74
858345 316618 5609855 0.07 58.8 372 134
858346 316600 5609826 0.02 147 1580 123
858347 316599 5609824 0.02 185 1900 152
858348 316598 5609822 0.01 235 2520 186
858349 316660 5609912 0.04 127 1330 125
858350 316662 5609915 0.04 99.3 1170 168
Southwest Pegmatite 2022 Field Samples
Above: Main Pegmatite Dyke with spodumene blades from recently completed drill hole GDL22-31
QAQC
The exploration program at Donner Lake is being supervised by Carey Galeschuk , P.Geo., who is an
experienced lithium geologist with nearly 2 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 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 lithium + rare metal certified reference mat erials ("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 (Ont ario) (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 availabili ty 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
parametres 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
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