Grid Metals Corp (TSXV:GRDM) has obtained further promising drill results from the completion of the resource drill programme at the Donner Lake Lithium Property located in southeast Manitoba which totalled 17,643m.
The pending resource calculation for Donner Lake will include results from both the Main Dyke and Northwest Dyke. The current program of resource drilling started in October 2022.
Results reported on today are from the remaining holes at the Main Dyke. Significant intercepts from the deeper holes in the core lithium resource area at the Main Dyke include the following:
- GDL 23-57 1.4% over 7.0m from 294.0m
- GLD 23-59 1.5% over 8.3m from 309.4m
- GDL 23-60 1.5% over 8.3m from 290.7m
- GDL 23-61 1.3% over 4.1m from 334.2m
- GLL 23- 62 1.6% over 7.6m from 364.8m
- GDL 23-63 1.8% over 4.6m from 344.2m
- GDL 23-64 1.9% over 6.2m from 349.6m
Highlights
- 36 drill holes were completed in the core resource area of the Main Dyke at approximately 80m to 90m average spacing.
- The Main Dyke remains open at depth along an 890m strike length and to the northeast
- The Main Dyke has been drilled to an average vertical depth of approximately 300m
- The Main Dyke is near vertically dipping with consistent grade
- Mineralization noted in drill core is predominantly spodumene
- Additional spodumene-bearing pegmatites have been noted in the hangingwall and footwall of the Main dyke and these may add to the resource potential at the Main Dyke
- The deepest fence of drill holes all had grades of > 1.5% Li2O over several metres
Resource Drilling and Project Activities
A total of 47 drill holes were carried out in the program at the Main Dyke which comprised 13,283m. Thirty six drill holes were completed in the core area of the deposit and eleven (11) drill holes were completed outside the core resource area.
Several of the exploration holes intercepted narrow spodumene bearing dykes. Drill data from the exploration holes is being integrated with the results of the 2022 field lithogeochemical sampling programme and a drone magnetic survey completed in Q1 2023. This work is focused on generating the next exploration targets for the Property.
In addition to the drilling at the Main Dyke, resource drilling has now also been completed at the Northwest Dyke along a 760m strike length with a total of 4,360m. Assay results are pending from this drilling and will be reported when received at a future date.
An initial National Instrument 43-101 resource estimate has been commissioned by the company and will be carried out by SGS Canada Inc. The resource estimate is planned for completion by the end of second quarter 2023 and will facilitate future economic studies for the Donner Lake Lithium project. The focus of initial economic analysis is expected to be on toll milling of material from Donner Lake at the nearby Tanco Mine.
The company has a Memorandum of Understanding Agreement in place with Tantalum Mining Corporation of Canada Limited which operates Tanco. The company believes that this approach to project development may enable a shorter path to generating initial cash flow from the Donner Lake Project.
Other activities underway at the project include ongoing environmental work and metallurgical studies of material from both the Main Dyke and the Northwest Dyke, One metallurgical study is being completed by XPS Expert Process Solutions (a Glencore Company) and a separate test programme is being completed at the Tanco Mine. As well an Advanced Exploration Permit (AEP) is being finalized for submission to regulators in Manitoba. The purpose of the AEP is to enable extraction of representative bulk samples of material to be test milled at the Tanco Mine.
The Donner Lake Lithium project is located in the traditional territory of the Sagkeeng First Nation. The Property is currently a joint venture between Grid Metals (75%) and Lithium Royalty Corp. (25%).
For further information please visit: https://gridmetalscorp.com/
