Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has received additional successful diamond drill results from the 2022 lithium exploration programme at its Donner Lake lithium property in south-eastern Manitoba.
The project is located in the Winnipeg River pegmatite field, which hosts the world-class Tanco pegmatite and the associated Tanco lithium-cesium-tantalum mine and concentrator. The Donner Lake Lithium project is a 75%/25% joint venture between Grid Metals Corp and Lithium Royalty Corp., a leading player in global lithium finance.
Highlights are:
- Drill intersections over 500m strike length include the following intervals:
- 4.1 metres averaging 1.62% Li2O in GDL22-03 from 160.9 meters downhole
- 5.9 metres averaging 1.48% Li2O in GDL22-12 from 219.5 metres downhole
- 2.7 metres averaging 1.52% Li2O in GDL22-13 from 139.4 metres downhole
And previously released - 13.75 meters averaging 1.53% Li2O in GDL22-01 from 87.5 meters downhole
- 8.0 meters averaging 1.46% Li2O in GDL22-02 from 57.0 meters downhole
- To date assays have been received from five drill holes GDL22-01,02 and GLD22-03, 12 and 13. Assays from these holes demonstrate lateral continuity of high-grade lithium values in the Northwest Dyke – one of several known spodumene-bearing LCT-type pegmatites on the Property.
- The Northwest Dyke has now been traced by Grids’ 2022 drilling for ~500 meters along strike and to a vertical depth of ~200 meters by the first five holes for which assays have been received.
- Consistent grade profile of lithium mineralisation to date is associated with visible spodumene crystals
- Similar grade and continuity to the Main Dyke, located ~1.5 km to the east
- The true thickness of the lithium intersections in holes GDL22-01, 02, 03, 12 and 13 are estimated to range from 50% to 70% of the interval lengths.
- Assays are pending from all other holes and drilling is continuing to extend the depth of the mineralisation
- Project is located within 35 km of Canada’s only currently producing lithium spodumene operation (Tanco Mine)
Program Details
- GLD22-03 is a 75m step out along strike to the northeast from previously reported drill holes GDL22-01 and 02, which intersected 13.75 metres averaging 1.53% Li2O and 8.0 metres averaging 1.47% Li2O, respectively. Hole GDL22-03 intersected a 5.4 metre interval of the Northwest Dyke including a core zone of spodumene-bearing pegmatite that averaged 1.62% Li2O over 4.1 metresfrom 160.9 metres.
- GLD22-012 was drilled near the southwest end of the current drill-defined strike of the Northwest Dyke and intersected 10.7 metres of pegmatite including a 5.9 metre section that averages 1.48% Li2O starting at 219.6 metres.
- GDL22-13 was drilled at the current drill-defined north-eastern end of the Northwest Dyke and intersected a 5.4 metre section of pegmatite including a 2.7 metre interval averaging 1.52% Li2O from 139.5 metres.
- All three of these new drill intersections have elevated tantalum (Ta), cesium (Cs) and rubidium (Rb) contents.
- The new results feature similar Li2O grades to those observed in holes GDL22-01 and 02.
- The Company expects to wrap up the initial phase of drilling on the Northwest Dyke at the end of April at which point it expects to have completed approximately 16 holes and 3,000 metres covering a strike length of 600 metres and with vertical intersection depths ranging from ~50m to >300m.
- The Northwest Dyke remains open along strike in both directions and at depth.
Complete results for the drill holes reported today from the 2022 Northwest Dyke exploration drill program together with drill hole specifications are provided in the Appendices accompanying this release.
“The new drill results demonstrate good continuity – both vertically and along strike, in the Northwest Dyke,” Vice President, Carey Galeschuk, said.
“The company now has two vertically-oriented, lithium-rich pegmatite dykes (Main and Northwest dykes) to build an initial resource from and we are optimistic about the prospect of discovering additional, LCT-type pegmatite dykes at Donner Lake as we prepare for the start of a property-wide field exploration programme later this spring.
“The excellent location of the Donner Lake property – located nearby Canada’s only currently operating spodumene concentrator at Tanco and in the world-class Winnipeg River pegmatite field, is a tremendous foundation on which to build a significant new lithium resource in a Tier 1 mining jurisdiction.”
For further information please visit: https://gridmetalscorp.com/
