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Grid Metals Geophysical Survey Identifies New Palladium Drill Targets at East Bull Lake
TORONTO, ON / ACCESSWIRE / April 28, 2020 / Grid Metals Corp. (the " Company ") (TSXV:GRDM...
About this update from Grid Metals Corp.
Grid Metals Geophysical Survey Identifies New Palladium Drill Targets at East Bull LakeTORONTO, ON / ACCESSWIRE / April 28, 2020 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to provide an update on the exploration program at its 100% owned East Bull Lake ("EBL") palladium property ("the Property") in Ontario. The exploration target at EBL is structurally-controlled, palladium-dominant mineralization with higher grades and greater thickness and continuity than the widespread near-surface palladium zones that have been identified to date. The Company has initiated a magnetotelluric ("MT") survey on the Property. The MT survey is an electromagnetic geophysical method with excellent depth penetration and a proven ability to detect, directly or indirectly, the type of palladium mineralization (high palladium tenor disseminated sulfide) that is found at EBL. Initial results from the completed portions of the survey have delineated several high priority geophysical targets proximal to known palladium rich mineralization. The geophysical program is guided by a previously untested exploration model that is based on observations from the Lac des Iles palladium mine in northwestern Ontario.Highlights to Date:The location of the EBL property is shown in Figure 1. The location of the MT survey stations is shown in Figure 2. Initial highlights from the ongoing MT survey include:The survey is thus far providing high quality resistivity data from surface to depths in excess of 1 km.The Parisien Lake grid has been completed. This grid covers a ~5 square kilometre area with widespread, near-surface palladium mineralization that is focused along a major north-east striking deformation zone (Parisien Lake deformation zone). Preliminary analysis of the survey results has identified several discrete resistivity anomalies including a large, untested target (anomaly PL-4) with a strike length of ~2km.The East Lobe grid has also been completed. It covers a ~3 square kilometre area with known palladium mineralization along the southern margin of the intrusion. Interpretation of the survey data is pending.The final component of the MT survey includes two profile lines across highly prospective areas in the western lobe of the intrusion.Preliminary Analysis of Results Several areas of strongly reduced resistivity representing new drill targets have been identified to d...