Business
Grid Metals Reports New High Grade Lithium Mineralization at Donner Lake
TORONTO, ON / ACCESSWIRE / May 12, 2022 / Grid Metals Corp. (the " Company ") (TSXV:GRDM)(...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Reports New High Grade Lithium Mineralization at Donner LakeTORONTO, ON / ACCESSWIRE / May 12, 2022 / Grid Metals Corp. (the \"Company\") (TSXV:GRDM)(OTCQB:MSMGF) is pleased to report results for three additional holes from the recently completed Phase 1 drill program at its Donner Lake Lithium property in southeastern Manitoba. The property is located in the Winnipeg River pegmatite field, which hosts the world-class Tanco pegmatite. The Donner Lake Lithium Property is a 75%/25% joint venture between Grid Metals Corp and Lithium Royalty Corp., a leading player in global lithium finance.Highlights:New drill intersections of the Northwest Dyke include the following length-weighted average grades:10.3 metres averaging 1.0% Li2O in GDL22-04, including a higher-grade section of 5.1 metres averaging 1.8% Li2O (from 234.1 metres)12.9 metres averaging 1.0% Li2O in GDL22-08, including higher-grade sections of 1.8 metres averaging 1.8% Li2O and 3.0 metres averaging 1.6% Li2O (from 163.1 metres)9.6 metres averaging 0.8% Li2O in GDL22-09 including 2.9 metres averaging 1.5% Li2O (from 104.9 metres)Anomalous cesium and tantalum values are also present in the three holes including maximum values of 210 ppm Ta2O5 and 341 ppm Cs2O over 0.6m from the Northwest Dyke in GDL22-08, and up to 400 ppm Ta2O5 and 481 ppm Cs2O over 0.3m and 0.5m, respectively, from an adjacent, narrower felsic dyke intersected in hole GDL22-09.The Northwest Dyke has now been traced for ~600 meters along strike and drill tested to a vertical depth of ~250 meters.The Northwest Dyke features consistent lithium grades that are associated with visible spodumene crystals and/or spodumene-quartz intergrowths (‘SQUI').The Northwest Dyke is the second drill-defined LCT type pegmatite with significant strike length on the Donner Lake property. Similar lithium grades were previously reported for the Company's 2018 drill holes targeting the Main Dyke, which is located ~1.5 km to the east of the Northwest Dyke.The Company concluded its Phase 1 exploration drill program targeting the Northwest Dyke on April 30, 2022. Sixteen (16) drill holes were completed and results for eight (8) holes have now been reported. Assay results for the remaining eight (8) holes are pending.The Northwest Dyke remains open along strike in both directions and at depth.Note that the Northw...