Developing a Critical Minerals Hub in Southeastern Manitoba, Canada
![Grid Metals Corp. Grid Metals Corp.](https://www.theassay.com/wp-content/uploads/2021/08/grid-metals.png)
Stock Codes:
TSXV: GRDM, OTCQB: MSMGF, FSE: NJF1
Company Exposures:
Palladium, Nickel, Copper, Cobalt, Lithium, Platinum
Project Location:
Canada
Grid Metals is focused on both lithium and copper/nickel projects in the Bird River area, approximately 150km northeast of Winnipeg, Manitoba. The Donner lithium project is a 75% owned property subject to a joint venture agreement. Grid has a lease agreement on the True North mill where it plans to process feed from Donner. Grid also has an MOU with Tantalum Mining Corporation of Canada Limited who operates the nearby producing Tanco Mine. The MM copper/nickel project is a resource-stage project that is undergoing exploration and development work.
Investment Rationale
Positioning Donner for a Rebound in Lithium Prices and Advancing the High-Potential MM Copper/Nickel Project
Donner Lithium
- 75%-owned project near existing infrastructure in southeast Manitoba
- Resource of 6.8MMt grading 1.39% Li2O that is open for expansion
- Grid Metals is targeting the reconfiguration of the True North Mill to produce ~75,000tpa of spodumene concentrate using a low capital intensity approach
- Targeting completion of economic study and fully permitted status in 2025
- Leveraging existing infrastructure for processing and tailings to shorten the permitting timeline versus a greenfield operation (~3-5 years quicker to production)
- PEA is underway along with permitting activities
MM Ni-Cu-PGM-Co
- Project covers most of the highly prospective Bird River greenstone belt with direct analogy to the “Ring of Fire”
- Excellent infrastructure with same footprint as Donner Lithium Project
- Tenure covers ~50km of prospective strike length (20km of copper-rich north arm at Mayville and 30km of nickel-rich arm at Makwa)
- The updated MM indicated open pit resource of 46MMt contains over 300MMlbs of Cu, 250 MMlbs of Ni and 450,000oz of precious metals.
- Grid is targeting +80-100MMt global resource containing at least 300,000t Cu, 200,000t Ni, 15,000t Co, and 1MMoz PGMs
Falcon West Lithium
- 100%-owned with Grid controlling the mineral rights over the majority of the next prospective greenstone belt situated south of the world class Tanco Mine (reserves of 6.6MMt grading 2.7% Li2O in 1996)
- Maiden Grid Metals’ 2024 drill programme returned 3.7m at 2.83% Li2O and 4.3m at 2.82% Li2O