Outlines Platinum Palladium Targets at East Bull Lake Property
Grid Metals Corp.
Outlines Platinum Palladium Targets at East Bull Lake Property
December 16, 2019 Toronto Ontario ( Grid Metals Corp TSXV:GRDM ) (“ Grid” or the
“Company”) today outlined drill targets for the upcoming drill program at its East Bull Lake platinum
palladium program. The Company has outlined up to three targets for drilling in the upcoming
program scheduled for January 2020. Grid controls the majority of the East Bu ll Property which is a
platinum gro up metal bearing layered Proteroz oic intrusion located approximately 80 km west of
Sudbury Ontario.
East Bull Lake Drill Program
The Company anticipates testing up to three separate targets at the East Bull Lake Property – all of
which have returned significant palladium values from previous exploration programs either in drill
holes and/or in surface trenches or surface grab samples.
Parisien Lake Deformation Zone
Historical drilling at the recently acquired Parisien Lake Deformat ion Zone (PLDZ) intersected
palladium dominant mineralization in widely spaced holes over 600 metres of strike length. Recent
surface sampling by Grid in this area completed early in the fall confirmed surface values in grab
samples with a maximum value of 3.39 gpt Pd, 0.39 gpt Pt and 0.04 gpt Au hosted in a leucogabbro
with no visible sulphides . Platinum-palladium-gold (PGM) mineralization has been noted in drilling,
sampling and trenching over a strike length of more than one kilometer at PLDZ.
Grid plans to drill a number of holes on approximately 25 - 50 meter step outs from historical drill
hole PLZ 8 to test for the continuity of mineralization seen in that hole . The results from drill hole
PLZ 8 returned significant PGM values from surface to 138 meters depth as follows:
Note: 1000 ppb=1 gram/tonne ( gpt )
Drill Hole UTM E UTM N Azimuth
/ Dip
From
(m)
To
(m)
Interval
(m)
Pd
(ppb)
Pt
(ppb)
Au
(ppb)
Pd+Pt+Au
(ppb)
Cu
(ppm)
PDZ 8 410500 5141761 180/90 36.58 39.01 2.43 883 265 48 1196 973
And 61.57 73.15 11.58 1029 300 46 1375 580
Including 66.14 71.32 5.18 1945 476 87 2507 1109
And 85.04 87.78 2.74 1293 259 39 1590 697
Including 85.04 85.95 0.91 2811 634 81 3526 1250
And 111.86 119.79 7.93 113 22 433 567 537
And 134.72 154.53 19.81 430 125 33 588 668
Including 134.72 138.38 3.66 1142 296 55 1492 998
Central Zone
In 2002, Grid drilled six reconnaissance drill holes in the East Lobe of the intrusion located ~ 5 km
west of the Parisien Lake Deformation Zone. The six drill holes intercepted mineralization over a
strike length of approximately 1 kilometer ( holes were spaced approximately 200m apart ) Drilling
was highlighted by two intervals noted below:
• 28.0m grading 0.9 0 g/t PGM in ME 02-35. (0.63 gpt Pd, 0.23 gpt Pt and 0.0 4 gpt Au) A
subinterval in this hole returned 5.0m grading 1.86 gpt PGM (1.37 gpt Pd, 0.38 gpt Pt and
0.11 gpt Au). Mineralization started at 4.5m downhole.
• 20m @ 0.71 g/t PGM in drill hole ME02-34 spotted approximately 400m along strike from
ME02-35. (0.41 gpt Pd, 0.26 gpt Pt and 0.0 4 gpt Au_) Mineralization started at 27.0m
downhole Note: The intervals noted above are core width and not enough drilling has been
done to determine true width.
The Central Zone target was initially outlined by a property scale mapping and sampling program. It
represents a bulk tonnage zone for platinum group metals PGM mineralization. It is associated with
VTEM anomaly proximal to a property scale intrusive. Geophysical interpretation of the VTEM
survey will be incorporated into the upcoming drill program
Central Zone drilling will seek to establish the orientation and down dip poten tial of the zone . A
complete summary of analysis in the six holes drilled in the Central Zone are available on the Grid
Metals website under the East Bull Lake Property section.
South Zone
Located on strike to the southeast of the Central Zone, the South Zone represents a similar target to
the Central Zone but to date no drilling has been completed. Mineralization has been identified in
surface grab samples and trends east/west over a strike length of approximately 500 meters . It is
also associated with an airborne VTEM anomaly that has a strike extent of approximately 1,000
meters. Surface grab samples completed by Grid in 2001 along one of the cut grid lines returned
anomalous Pd, Pt and Au values over ~ 194m on a north south orientation. Within that envelope
ten consecutive samples taken along a grid line at 5 meter intervals returned an average of 1.35 g/t
PGM (0.72 gpt Pd, 0.57 gpt Pt and 0.07 gpt Au).
Company CEO Robin Dunbar noted “ East Bull is a large highly prospective property that needs a
systematic exploration approach to find economic zones of PGM mineralization. The extensive
academic research of East Bull has established its bona fides as an e xploration target. The large
exploration database compiled jumpstarts Grid to a position to be able test some initial prospective
drill targets which are associated with significant known PGM mineralization. ”
QA/QC
2019 sampling was of a systematic, reconnaissance nature, and generally large, approximately 1 kg grab
samples were collected from both mineralized and unmineralized outcrop exposures.
The 2001 trench and grab samples completed on the property were analyzed at XRAL Laborat ories in
Rouyn-Noranda Quebec using Fire Assay. Standards were inserted in the samples and a number of
duplicates were analyzed for quality control purposes.
Grab samples completed in 2019 were delivered to the ALS Canada preparation facility in Sudbury and
analysed at the Vancouver, British Columbia laboratory. Samples were analyzed for Cu, Ni, Pd, Pt, Au
and S using Inductively coupled plasma atomic emission spectroscopy (ICP-AES) analytical techniques.
Chain of custody was maintained throughout the entire procedure. Control samples including
Standards, Blanks, and Duplicates were incorporated as part of the QA/QC sampling procedures.
Historical drill results ME series were drilled by Grid Metals in 2002. Assays were completed using
conventional techniques at XRAL Laboratories in Rouyn Noranda.
Paul Davis P. Geo is overseeing the exploration at East Bull as a consultant to the Company and is a
Qualified Person under NI 43-101. He has reviewed and approved the scientific and technical
information in this release.
About Grid Metals Corp.
Grid Metals Corp. is an exploration and development Company that has a diversified portfolio of projects
in the nickel -copper-platinum group metal sectors. These commodities are vital to the emerging battery
metals, energy storage and automotive sectors. All of Grid's projects are located in secure North
American mining jurisdictions. The Company is focused on timely advancement of its property portfolio
through prudent exploration and development activities.
In addition to the East Bull Lake PGM Property Grid has ongoing development work at its Makwa Mayville
Nickel-Copper-PGM project located in Manitoba. The Company has ongoing work being completed
towards completion of an updated NI 43 -101 Preliminary Econ omic Assessment (PEA) of that project.
The existing PEA was completed in April 2014.
To find out more about Grid Metals, please visit www.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
Robin Dunbar - President, CEO & Director
Telephone: 416-955-4773
David Black - Investor Relations
Email: [email protected]
Email: [email protected]
We seek safe harbour.
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