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Grid Metals Reports Additional Positive Drill Results from East Bull Lake Palladium Property
Commences Metallurgical Study TORONTO, ON / ACCESSWIRE / April 9, 2021 / Grid Metals C...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Reports Additional Positive Drill Results from East Bull Lake Palladium PropertyCommences Metallurgical StudyTORONTO, ON / ACCESSWIRE / April 9, 2021 / Grid Metals Corp. (the \"Company\") (TSXV:GRDM)(OTCQB:MSMGF) is pleased to provide new drilling results for an additional three holes from the Central Parisien Lake target area on its East Bull Lake palladium project, located near Sudbury, Ontario. A metallurgical study has been initiated to confirm the potential for generating a palladium-rich sulfide concentrate from representative core samples from the Parisien Lake area.HighlightsEncouraging new results for three step out holes are reported below. The holes are located between 30 metres and 250 metres away from discovery hole EBL20-13. Significant widths of anomalous palladium and copper sulfide mineralization were encountered in drill holes, including 77.0 metres of 0.81 g/t palladium equivalent grade (\"Pd Eq\") in EBL21-04. Narrower, higher grade intervals were also intersected including 2.0 metres of 5.39 g/t Pd Eq in EBL21-05.Hole IDFrom(m)To(m)Length(m)Pd(g/t)Pt(g/t)Au(g/t)Cu(%)Ni(%)Pd Eq(g/t)EBL21-0430.00107.0077.000.430.130.030.100.060.81inc.82.00103.0021.000.750.240.050.120.101.31with96.0099.003.001.380.420.090.210.082.12and178.94210.0031.060.270.100.020.110.050.59inc.194.00200.006.000.470.160.030.200.070.98EBL21-0552.0074.0022.000.390.130.030.090.060.74inc.52.0063.0011.000.600.200.050.100.051.01EBL21-0650.0059.009.001.620.480.080.120.072.19inc.56.0058.002.003.751.050.250.420.245.39and72.0073.001.001.040.500.020.010.041.41and100.00101.001.001.990.840.200.550.073.24 Notes: Based on current 3D geological interpretations, the true thickness is estimated to range between approximately 50-80% of the length of the reported mineralized intervals.Pd Eq is the palladium equivalent grade expressed in grams per tonne that is calculated using the following long-term consensus price forecasts ($US) sourced from S&P Global Metals and Mining Research and dated October 30, 2020: Pd - $1,813.90/oz; Pt - $955.55/oz; Au - $1,832.01/oz; Cu - $2.96/lb; Ni - $6.87/lb.Dr. Dave Peck, the Company's Vice-President of Exploration and Business Development stated \"The new results continue to demonstrate the potential for a significant, near-surface palladium deposit in the Central Parisien Lake target area. EBL21-06 is a notable...