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.
|Drill Hole||From (m)||To (m)||Length (m)||Ni (%)||Co (%)||Cr (%)||Cu (%)||Mg (%)|
Grid Metals Corp. (the “ Company “) (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announce initial results from its recently completed spring 2021 drilling program on its 100% owned Bannockburn Nickel Sulphide Property (the “ Property “) located in the Matachewan area of northeastern Ontario and approximately 100 km south of Timmins. The new drill program is pursuing bulk tonnage disseminated nickel sulfide mineralization hosted by a three-kilometre-long serpentinized ultramafic body. The style of mineralization targeted is similar to that hosted in the Crawford Deposit owned by Canada Nickel Company.
First Mining Gold (T.FF) has just released a Pre-Feasibility Study on its Springpole Lake project in Ontario. The headline numbers tell the story, Pre-Tax NPV5% of US$1.5 billion, Pre-Tax IRR of 36%, Average Annual Gold Production of 335,000 ounces and AISC of US$577/oz in Years 1 through 9. Proven and Probable Reserves of 3.8 Moz Au, 20.5 Moz silver (“Ag”). These are big, profitable, numbers and First Mining Gold is pressing ahead to permitting its Springpole Lake project.
First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to report that it has received notice from Auteco Minerals Ltd (“Auteco”) (ASX: AUT) that Auteco has fulfilled the Stage 1 $5 million expenditure requirement as stipulated under the earn-in agreement with First Mining in respect of the Pickle Crow Gold Project (“Pickle Crow”) located in northwestern Ontario, Canada. As a result, Auteco will now hold a meeting of its shareholders to approve the issuance of 100,000,000 Auteco shares to First Mining, and it will apply to the Australian Securities Exchange (the “ASX”) for listing approval for such shares. First Mining expects to receive the 100,000,000 Auteco shares by the end of April, and upon receipt of such shares, Auteco will earn a 51% interest in PC Gold Inc. (“PC Gold”), the Company’s wholly-owned subsidiary that owns Pickle Crow.
On March 1, 2021 CBLT Inc. (TSXV: CBLT) (“CBLT”) announced it had reached a meeting of the minds with an arm’s length third party for CBLT to acquire a greenfield Ontario mining asset that is prospective for some of the battery metals. Since then CBLT’s due diligence review showed two additional arm’s length parties having an ownership interest in that property. CBLT has entered into good faith discussions with those additional parties and has a reasonable expectation it will be able to convert those discussions into a binding agreement. There are no assurances that the parties will be able to reach a definitive agreement, or that the contemplated transaction would close as contemplated or at all.
CBLT Inc. (TSXV: CBLT) (“CBLT”) has set its exploration goals and budget for the foreseeable future. To fund that budget CBLT announces its intention to effect a non-brokered flowthrough financing in an amount no less than $100,000 (one hundred thousand dollars, resulting in the issuance of one million Flowthrough Units) up to $400,000 (four hundred thousand dollars, resulting in the issuance of four million Flowthrough Units). Each Flowthrough Unit will be priced at $0.10 (ten cents) per Flowthrough Unit and will comprise of one flowthrough share and one full 15-cent warrant with a 24-month term, with each 15-cent warrant being exercisable into a flowthrough common share.
Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. on behalf of a syndicate of underwriters (collectively, the “Underwriters“), in connection with a bought deal private placement financing (the “Offering“) for total proceeds of $10 million, consisting (i) 11,904,800 flow-through shares (“FT Shares“) at a price of $0.42 per FT Share (the “FT Share Issue Price”) and (ii) 9,804,000 flow-through units (the “FT Units, and together with the FT Shares, the “Offered Securities“) at a price of $0.51 per FT Unit (the “FT Unit Issue Price”).
Producing a 43-101 compliant resource estimate is a huge step forward for any junior resource company. For Abraham Drost, CEO of Clean Air Metals (TSXV: AIR), this was an especially satisfying moment because it confirms a new approach to a potentially very valuable platinum group metals deposit.