Grid Metals Corp (TSXV: GRDM; OTCQB: MSMGF) (the 'Company') is pleased to announce drill results from the completion of the resource drill program at the Donner Lake Lithium Property located in southeast Manitoba which totalled 17,643 metres.
The pending resource calculation for Donner Lake will include results from both the Main Dyke and Northwest Dyke. The current program of resource drilling started in October 2022.
Results reported on today are from the remaining holes at the Main Dyke. Significant intercepts from the deeper holes in the core lithium resource area at the Main Dyke include the following:
GDL 23-57 1.4% over 7.0m from 294.0 m
GLD 23-59 1.5% over 8.3m from 309.4m
GDL 23-60 1.5% over 8.3m from 290.7m
GDL 23-61 1.3% over 4.1m from 334.2m
GLL 23- 62 1.6% over 7.6 m from 364.8m
GDL 23-63 1.8% over 4.6m from 344.2m
GDL 23-64 1.9% over 6.2m from 349.6m
Note: The intersection true thicknesses are estimated to represent 50-75% of reported intersection lengths.
Resource Drilling and Project Activities
A total of forty seven (47) drill holes were carried out in the program at the Main Dyke which comprised 13,283 metres. Thirty six (36) drill holes were completed in the core area of the deposit and eleven (11) drill holes were completed outside the core resource area. A table of drill results from the Main Dyke from the recently completed drill holes in the core resource area are included at the end of this press release. Several of the exploration holes intercepted narrow spodumene bearing dykes. Drill data from the exploration holes is being integrated with the results of the 2022 field lithogeochemical sampling program and a drone magnetic survey completed in Q1 2023. This work is focused on generating the next exploration targets for the Property.
An initial National Instrument 43-101 resource estimate has been commissioned by the Company and will be carried out by SGS Canada Inc. The resource estimate is planned for completion by the end of second quarter 2023 and will facilitate future economic studies for the Donner Lake Lithium project. The focus of initial economic analysis is expected to be on toll milling of material from Donner Lake at the nearby Tanco Mine. The Company has a Memorandum of Understanding Agreement in place with Tantalum Mining Corporation of Canada Limited which operates Tanco. The Company believes that this approach to project development may enable a shorter path to generating initial cash flow from the Donner Lake Project.
Other activities underway at the project include ongoing environmental work and metallurgical studies of material from both the Main Dyke and the Northwest Dyke, One metallurgical study is being completed by XPS Expert Process Solutions (a Glencore Company) and a separate test program is being completed at the Tanco Mine. As well an Advanced Exploration Permit (AEP) is being finalized for submission to regulators in Manitoba. The purpose of the AEP is to enable extraction of representative bulk samples of material to be test milled at the Tanco Mine.
The Donner Lake Lithium project is located in the traditional territory of the Sagkeeng First Nation. The Property is currently a joint venture between Grid Metals (75%) and Lithium Royalty Corp. (25%).
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.
David Black - Investor Relations Email: info@gridmetalscorp.com
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 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 Canadian Securities Administrators and available at www.sedar.com.
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
Contact:
Tel: 416-955-4773
Email: rd@gridmetalscorp.com
GRID METALS CORP. 
