Grid Metals Corp to Drill Falcon West Lithium Project in Southeastern Manitoba Belt Scale Opportunity with High Grade Lithium Assays at Initial Drill Target Area January 19 h, 2024.
Grid Metals Corp to Drill Falcon West Lithium Project in
Southeastern Manitoba
Belt Scale Opportunity with High Grade Lithium Assays at
Initial Drill Target Area
January 19 h, 2024. Grid Metals Corp (TSXV:GRDM; OTCQB:MSMGF ) (the "Company") today
announced that it has received exploration permits and will immediately commence exploration
drilling at its Falcon West Lithium Property (the "Property"), which is located approximately 110
km east of Winnipeg, Manitoba and 100 km south of the Company’s Donner Lake lithium
property. The initial target area hosts high grade lithium and cesium mineralization in historical
drill core. Approximately 2,000 meters of drilling are planned in the initial phase of the program.
Falcon West is a belt scale (61,268 hectares and ~90 km of strike length) lithium and rare metal
property. It is located in the West Hawk Lake Greenstone Belt and hosted in mafic volcanics rocks
present at the contact between the Wabigoon and Winnipeg River geological sub provinces. This
important geological contact hosts several significant lithium deposits and occurrences including
the Mavis Lake deposit. The West Hawk Lake Greenstone Belt is the next prospective greenstone
belt to the south of the Bird River Greenstone Belt that hosts the world class large Tanco
Pegmatite - one of the most evolved pegmatite known globally which hosts the producing Tanco
Lithium and Rare Metals Mine. As of 1983, Tanco had spodumene reserves of 7,300,00 tons
grading 2.76% Li2O.
The drill program will commence at the Artdon-Lucy (‘ADL’) target area of the Property, at
which several historical drill programs intersected near surface pegmatites locally containing
high lithium grades that are associated with spodumene. Historical drill highlights include 12 m
at 2.2% Li2O and 12m at 1.8% Li2O.
Above- Greenstone belts and lithium resources in the southeastern area of Manitoba. The Donner
Lake Resource (Grid Metals Corp. 75%) and Tanco Resource are on the north and south limbs,
respectively, of the Bird River Greenstone Belt. The Falcon West Property (100% Grid Metals)
covers the majority of the West Hawk Greenstone Belt that has seen very little prior exploration
for lithium despite the fact that it occurs along the regionally extensive and highly prospective
Winnipeg River – Wabigoon Province boundary.
Above: Geology of the West Hawk Lake Greenstone Belt showing the ADL Target area where
lithium and rare metal pegmatites are hosted in the mafic volcanic rocks.
The ADL target area is approximately 110 km from Winnipeg and is transected by the Trans-
Canada Highway and a major rail line giving the Property direct access to critical infrastructure.
The initial drill program will comprise approximately 2,000 meters. The program will attempt to
(1) establish the orientation and continuity of several known lithium spodumene bearing
pegmatites and, (2) increase the overall understanding of the pegmatite emplacement,
fractionation and zonation trends. The ADL area being explored is approximately 1 km area in
strike length.
Falcon West is part of Grid’s goal of building a large lithium (spodumene) resource base in the
southeast Manitoba region that could support long-term spodumene concentrate production to
help feed the rapidly expanding North American lithium battery manufacturing sector.
ADL Target Area
Spodumene-bearing pegmatites assaying up to 3.51% Li2O over 4.57 metres within a 12.2
metre section assaying 2.16% Li2O are noted in historical drill hole records from the Lucy
(eastern) Pegmatite part of the area (Manitoba Mineral Inventory Card #119, Hole 24,
East Braintree Lithium Corp.).
Most of the historical lithium-enriched pegmatite drill intersections are within a few
metres to tens of metres from surface with two pegmatites ( Lucy and Artdon)
outcropping at surface.
A non-compliant, historical resource* of 226,800 tonnes of 1.75 % Li2O was estimated
on a portion of the Lucy Pegmatite which is part of the Property.
The Lucy Pegmatite has been described as being mineralogically and geochemically
zoned, flat lying, extremely fractionated and broadly similar to the world class Tanco
Pegmatite (Manitoba Assessment File #94845)
Validation outcrop sampling of the Artdon pegmatite, located ~1 km along strike from the
Lucy pegmatite, was completed by Grid in 2023 and returned individual grab sample
grades of up to 2.97% Li2O.
Analysis of previously unassayed drill core from a 2012 drill program at the Lucy Pegmatite
returned several intersections of high-grade lithium and cesium (see Grid Metals Corp.
Press Release dated. ( March 28, 2023).
To the Company’s knowledge, there has been no historical lithium exploration work on
the Property outside the immediate ADL target area.
Grid Metals controls 100% of the mineral rights for the Property with a 2% NSR royalty
held by the vendors of the ADL target area claims but with no NSR royalty on the majority
of the Falcon West claims.
The Property is located approximately 110 km west of Winnipeg and 100 km south of
Grid’s Donner Lake lithium project and features excellent infrastructure including the
Trans-Canada Highway, major trans-continental rail lines and hydro-electric power lines.
* Source: Manitoba Inventory Card #119. Note that the Company’s QP for lithium exploration, Mr. Carey Galeschuk, is not able to
verify the accuracy of this estimate. Accordingly, the Company does not consider this historical resource as a current resource and is
developing an exploration plan to support the estimate of a 43-101 compliant lithium resource for the ADL target area. The historical
estimate was believed to be based on 48 drill holes completed by the East Braintree Lithium Corporation in 1955 that were drilled to
a maximum depth of 80 metres (Bannatyne, 1985).
The exploration program at Falcon West will be supervised by Carey Galeschuk, P.Geo., who is
an experienced lithium geologist with over two decades of exploration experience in pegmatites
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 sampling.
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 its lithium properties in southeastern Manitoba (Donner Lake and
Falcon West). The Company has a lease agreement for the True North Gold Mill with the
intention to convert the processing circuit to produce lithium spodumene concentrate and fast
track its Donner Lake Lithium Project into production. The Company also has a PEA stage Ni-Cu-
PGM-Co project (Makwa-Mayville) in southeastern Manitoba.
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: [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.
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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 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.