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Grid Metals Files NI 43-101 Report on Bannockburn Nickel Property: Historical Drilling Identifies Potential for Bulk Tonnage Nickel Deposit and High Grade Nickel Mineralization
TORONTO, ON / ACCESSWIRE / February 17, 2021 / Grid Metals Corp. (the " Company " or "Grid...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Files NI 43-101 Report on Bannockburn Nickel Property: Historical Drilling Identifies Potential for Bulk Tonnage Nickel Deposit and High Grade Nickel MineralizationTORONTO, ON / ACCESSWIRE / February 17, 2021 / Grid Metals Corp. (the \"Company\" or \"Grid Metals\") (TSXV:GRDM) is pleased to announce it has received the Independent National Instrument 43-101 Technical Report ( the \"Technical Report\") on the Bannockburn Nickel Sulphide Property ( the \"Property\") located in the Matachewan area, approximately 100 km south of Timmins, Ontario. The author was Caracle Creek International Consulting Inc. of Sudbury, Ontario. The Technical Report was commissioned in order to summarize all relevant geological and historical exploration information on the Bannockburn Property (including 84 drill holes) and obtain independent recommendations for future exploration at the Property. The full report will be filed on SEDAR and will also be made available on the Company's website.Key Findings of the Bannockburn Property Technical Report The style of mineralization present in the B Zone (Mount Keith-type) at Bannockburn is directly comparable to the large-tonnage, low-grade nickel sulfide resources hosted by the Crawford Ultramafic Complex (\"CUC\") on the Crawford Nickel-Cobalt Sulphide Project, owned by Canada Nickel Company Inc. (\"TSXV: CNC\"), and the Dumont Nickel Deposit owned by Dumont Nickel Magneto Investments L.P. (and previously Royal Nickel Corporation).The B Zone occurs within a ~3.5 km magnetic anomaly that is related to a serpentinized ultramafic body believed to have originated as an adcumulate dunite intrusion similar to that hosting the Crawford nickel deposit.The Property shows good potential for developing both low-grade, large tonnage and high-grade, low tonnage nickel (Co, Pt, Pd, Fe) resources and warrants additional exploration given similarities of initial drill intersections, in terms of grade and thickness, to that reported in the Main and East zones at the Crawford Nickel Project.The Property is located ~100 km south of Timmins, Ontario near the town of Matachewan in an area with excellent infrastructure. The Property mineral rights are held 100% by Grid Metals by way of 125 contiguous unpatented mining claims that cover approximately 2 700 hectares and are subject to a 2% NSR held by Outokumpu Mining....