Grid Metals Corp. Initiates Maiden Eagle Drill Program at the MM Copper/Nickel Project
Grid Metals Corp. Initiates Maiden Eagle Drill Program at the MM
Copper/Nickel Project
October 17, 2024 TORONTO -- Grid Metals Corp. (TSXV:GRDM; OTCQB:MSMGF) ("Grid" or the
"Company") is pleased to report the receipt of exploration permits and the commencement of
its maiden drill program at the Eagle gabbro, located within the MM copper/nickel project in
southeastern Manitoba. The Eagle gabbro is located at the eastern end of the >20 km long
Mayville-Eagle complex – host to the Company’s 32.0 Mt Mayville Cu-Ni (PGM) deposit1.
Highlights
• Drilling will begin at the historical New Manitoba deposit2 area, located at the southeast
end of the Eagle gabbro which has seen very limited exploration subsequent to drilling in
the 1950s.
• In tandem with the drill program, ground IP and two deep penetrating, high-resolution
airborne magnetic-EM surveys will also be completed.
• Grid is fully funded to complete the Eagle drill program and geophysical surveys. Initial
assays are expected to be received by mid November.
Robin Dunbar, Grid’s CEO & President, stated "We are pleased to see the drill rig turning at the
prospective Eagle gabbro trend where we see the potential to outline copper-dominant
mineralization in several areas over the >4 km target trend being tested . The Eagle gabbro sits
entirely outside of our current 32 Mt indicated open -pit resource at Mayville and provides
additional resource upside for the MM project. We are looking forward to assays returning early
next month and will update the market accordingly.”
Figure 1. Mayville-Eagle project area on colour shaded total magnetic intensity background
image.
Figure 2. Outline of interpreted extent of the Eagle gabbro (black outline) – host to the New
Manitoba deposit and the Acme Zone, on colour shaded total magnetic intensity background
image.
Drill Program Notes
Drill hole plans are based on 3D modeling of historical drilling results, recent surface sampling
and mapping data, magnetic survey data and 3D plate modeling of existing EM survey data.
Footnotes
1 The Mayville deposit hosts a pit -constrained indicated mineral resource of 32.0 million tonnes with 0.40% Cu and
0.16% Ni. See "NI 43-101 Technical Report on the Updated Mineral Resources Estimate of the Makwa-Mayville (MM)
Project, Manitoba, Canada" prepared by Micon International for Grid Metals Corp. (June 14, 2024).
2 Source: Geological Survey of Canada Open File Report 8722
Qualified Persons Statements
Dr. Dave Peck, P.Geo., is the Qualified Person for purposes of National Instrument 43 -101 and
has reviewed and approved the technical content of this release.
About Grid Metals Corp.
Grid Metals is focused on advancing its MM copper/nickel project in the Bird River area,
approximately 150 km northeast of Winnipeg Manitoba. The MM Project consists of the Makwa
and Mayville deposits with a fully-funded drill program ongoing at the prospective Eagle gabbro
which sits outside of the current resource. Grid’s other projects in southeastern Manitoba
include the Donner lithium project and the Falcon West cesium/lithium project. Grid has a lease
agreement on the True North mill where it has rights to process feed from Donner, and Grid also
has an MOU with Tantalum Mining Corporation of Canada Limited who operates the nearby
producing Tanco Mine.
All of the Company’s southeastern Manitoba projects are located on the Traditional 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 see the Company website at
www.gridmetalscorp.com or contact:
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773
Email: [email protected]
Brandon Smith – Chief Development Officer – [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 potent ial 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, cob alt, 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 des cribed 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.
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