TORONTO, ON / ACCESSWIRE / September 19, 2022 / GRID METALS CORP. (TSXV:GRDM)(OTCQB:MSMGF) ( “Grid ” or the “Company”) today announced it has closed a $4,920,000 first tranche (the “First Tranche”) of its previously announced non-brokered private placement of 56 million shares for gross proceeds of $8,520,000 ( the “Offering”). Churchill Strategic Investments Pty Ltd is acting as Lead Manager of the Offering.
There is a lot of market excitement about “battery metals”, lithium, nickel, copper, cobalt and graphite. The future is all about electric vehicles and battery electrical storage to fortify the “grid”. This is where Grid Metals (GRDM.V) begins to shine. The company is developing two projects in southern Manitoba – one a lithium project, the other a nickel/copper project – both located in close proximity to each other.
On September 14 Grid Metals (GRDM.V) put out a press release reporting drill results at its Mayville “Main Dyke” lithium pegmatite target located in the Bird River greenstone belt of southeastern Manitoba.
|MAYVILLE LITHIUM PROPERTY|
2018 MAIN DYKE DRILL RESULTS
Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) (the “Company”) is pleased to announce previously unreported drilling results for its Main Dyke lithium pegmatite target located immediately south of the Company’s Mayville Cu-Ni-Co-PGM deposit in the Bird River greenstone belt of southeastern Manitoba. Results of the drilling identified high grade lithium, cesium and tantalum values (including 1.8% Li 2 O over 3.38m) in a continuous spodumene bearing pegmatite dyke with a minimum strike length of 775 meters. Highlights of the drilling and project are:
There are not a lot of junior exploration companies which have survived for 25 years. Grid Metals (GRDM.V) has, and Robin Dunbar, CEO and President of Grid was happy to speak about the company’s history and prospects in a phone interview.
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Grid Metals Corp. (“Grid” or the “Company“) (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announce the favourable results of initial metallurgical testwork showing high metal recoveries on core samples from the Central Parisien Lake palladium zone at its 100% owned East Bull Lake property near Sudbury, Ontario. The Company is also pleased to report that rhodium – the most valuable of the platinum group metals, is present in sufficiently high concentrations to be considered as a potential, additional pay metal in future metallurgical and economic assessments.