Grid Metals Set to Drill at Bannockburn Nickel Property Completes 15 Drill Holes at East Bull Lake Palladium Property
- GridMetalsCorp. (the
(TSXV:GRDM)(OTCQB:MSMGF) is pleased to provide an update on exploration activities at its East Bull Lake palladium property near Sudbury, Ontario and its Bannockburn Township nickel property south of Timmins, Ontario.
East Bull Lake Palladium
The Company has completed thirteen drill holes on the Central Parisien Lake Zone and two drill holes in a new target area located approximately 400 metres to the south. Results for the first three drill holes at Central Parisien Lake (EBL21-01 to -03) were reported on March 11, 2021. The new drilling includes step out holes to the west and east from the discovery hole (EBL20-13 - see December 3, 2020 news release) and covers a strike length of approximately one kilometre. Drill core is being logged and split at the Company's core facility in Massey, Ontario. Assay results for the next three holes (EBL21-04 to -06) are expected to be reported on soon.
Bannockburn Nickel Property Drill Program Set to Commence
Grid has now signed a drill contract to complete approximately 2,000 meters of drilling at Bannockburn.
The program will focus on the bulk tonnage B Zone target - a direct analogue to Canada Nickel
Company's (TSXV: CNC) Crawford Nickel deposit, which is also located in the Timmins area. A drill
permit has been received and drilling is expected to commence within the next few weeks, subject to road conditions. The drill program will cover one kilometre of prospective strike length with the objective of confirming nickel grades and widths. A composite core sample from the new drilling will be submitted for mineralogical and metallurgical testing to assess potential nickel recoveries and concentrate grades. Previous metallurgical test work on B Zone core (see recent NI43-101 Technical Report available on the Company's website) highlighted the potential for a very high grade (~30%) nickel concentrate. More information on the drilling plans will provided in future.
Both the East Bull Palladium Property and the Bannockburn Nickel Property exploration programs are being directed by Dr. Dave Peck, P.Geo. Dr. Peck has considerable international experience in platinum group metal and nickel exploration through his previous senior roles with Falconbridge Limited, the Anglo American group and North American Palladium (now Impala Canada) - former owner of the sole operating palladium mine in Canada.
Dr. Dave Peck, P.Geo., has reviewed and approved the technical content of this release for purposes of National Instrument 43-101.
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.
To find out more about Grid Metals Corp., please visitwww.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email:email@example.com David Black - Investor Relations Email:firstname.lastname@example.org
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 may include the Company's plans for its properties, 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 atwww.sedar.com.
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