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Grid Metals Provides Update on Drilling at East Bull Lake
TORONTO, ON / ACCESSWIRE / August 6, 2020 / Grid Metals Corp. (the " Company ") (TSXV:GRDM) ...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Provides Update on Drilling at East Bull LakeTORONTO, ON / ACCESSWIRE / August 6, 2020 / Grid Metals Corp. (the \"Company\") (TSXV:GRDM) is pleased to provide an update on the ongoing 2020 diamond drilling program at its 100% owned East Bull Lake (\"EBL\") palladium property (the \"Property\") in Ontario. Anomalous palladium grades were intersected in both of the target areas tested. The company is proceeding with follow up drilling on these new intersections and initial drilling at several other target areas on the Property, which is located approximately 80 km west of Sudbury, Ontario.HighlightsDrilling intersected palladium mineralization in two discrete geophysical targets located 800 meters apart;At the Kidd target, hole EBL20-02 intersected a 21 metre interval averaging 0.55 g/t Pd including 11.0 m of 0.86 g/t Pd, 0.25 g/t Pt and 0.03 g/t Au (1.14 g/t combined Pd + Pt + Au) containing 0.6m of 2.90 g/t Pd;At the Feeder target, hole EBL20-05 intersected wide zones of anomalous palladium mineralization including 17.0m of 0.49 g/t Pd from 15.0m and 36.0m of 0.31 g/t Pd from 67.0m containing a 5.0m intersection of 0.80 g/t Pd, 0.27 g/t Pt and 0.05 g/t Au (1.12 g/t combined Pd + Pt + Au). The highest value was 1.0m of 2.44 g/t Pd, 0.68 g/t Pt and 0.09 g/t Au. This mineralization is along the western edge of a large, near-surface geophysical anomaly developed between three major structures;Preliminary results have validated the effectiveness of the magnetotelluric survey (MT) method in detecting disseminated sulfide mineralization in gabbroic rocks on the EBL property; and,Additional drill permits have been obtained to further test the Feeder target and complete initial drilling on new targets in the next phase of the program that is scheduled to commence before the end of this month.Dr. Dave Peck, the Company's Vice President of Exploration and Business Development, stated \"in the first five holes of the program two large prospective areas (one previously untested) have yielded significant palladium values. The new drilling results validate our selection of the MT survey method to map out zones of sulfide-bearing gabbroic rocks in the EBL intrusion to significant depths. They will be integrated with other geochemical and geophysical data to vector towards more continuous and higher grade portions of the extensive ma...