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Grid Metals Intersects 7 m at 1.28% Li2O at over 125 m Below the Previously Deepest Drill Holes at Donner Lake; Provides Project Update
TORONTO, ON / ACCESSWIRE / April 18, 2024 / Grid Metals Corp. (TSXV:GRDM);(OTCQB:MSMGF) ("Grid" ...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Intersects 7 m at 1.28% Li2O at over 125 m Below the Previously Deepest Drill Holes at Donner Lake; Provides Project Update TORONTO, ON / ACCESSWIRE / April 18, 2024 / Grid Metals Corp. (TSXV:GRDM);(OTCQB:MSMGF) (\"Grid\" or the \"Company\") is pleased to announce drill results from its January-March 2024 drill program at the Donner Lake Lithium Project (\"Donner Lake\") in southeastern Manitoba, Canada. Drilling was completed at both: (1) the Northwest Dyke (\"NW\") Dyke for the purposes of upgrading the near surface resource; and (2) at depth below the Main Dyke resource to test the potential for adding to the existing underground resources. The results from both dykes were in line with expectations and support the ongoing development timeline for Donner Lake. The Company is continuing study and permitting activities to position Donner Lake for higher lithium prices in the future.Drill HighlightsThe two drill holes at the Main Dyke intersected the spodumene-bearing Main Dyke approximately 125 meters beneath the previously deepest drill holes. Both holes were drilled to test the potential for extending the existing underground resources at depth. Based on these new results and the consistent nature of the Main Dyke over its ~1 km strike length, Grid Metals plans to proceed with a fully-funded summer drill program comprising ~10 additional resource extension drill holes.All of the 12 infill drill holes at the Northwest Dyke intersected spodumene-bearing pegmatite that returned lithium grades and intersection lengths in line with previous resource delineation drill holes completed in 2022 and 2023. Highlights from the 2024 winter drilling included 7 m at 1.85% Li20 and 12 m at 1.25% Li2O. Overall, the Company expects this drilling to enable an upgrade to the resource category at the Northwest Dyke.Drill highlights include (a complete table of results are provided in Table 1):GDL 24-01: 6.9 m at 1.28% Li2O starting at 467.4 m (Main Dyke extension drilling)GDL 24-03: 3.2 m at 1.56% Li2O starting at 422.8 m and 2.3 m at 1.50% Li2O starting at 428.9 m (Main Dyke extension drilling)GDL24-07: 6.7 m at 1.85% Li2O starting at 84.6 m (Northwest Dyke infill drilling)GDL24-09: 11.5 m at 1.25% Li2O starting at 101.5 m (Northwest Dyke infill drilling)GDL24-10: 7.8 m at 1.50% Li2O starting at 28.9 m (Northwest Dyke infill drilling)...