TORONTO, ON / ACCESSWIRE / November 21, 2018 / Grid Metals Corp. (TSX-V: GRDM) (OTC PINK: MSMGF) ("Grid" or "the Company") today announced an update of activities at its Makwa Mayville Nickel Copper Cobalt PGE project. The project is located in the Bird River Greenstone Belt of southeastern Manitoba. Grid completed a National Instrument 43-101 compliant Preliminary Economic Assessment ("PEA") of the Makwa Mayville Project which was published in April 2014. The mining plan in the PEA envisages mining from the Mayville and Makwa deposits with ore trucked to a central processing plant.
Nickel Cobalt Metallurgical Program
Nickel recoveries used in the PEA were 73% of the nickel mined and processed from Makwa and 41% of the nickel mined and processed from Mayville. A key recommendation of the 2014 PEA was to complete additional metallurgical test work in order to attempt to improve the nickel recovery from the Mayville Deposit and also to test the potential to produce a higher quality nickel concentrate.
Accordingly a mineralogical and metallurgical test program to address nickel recovery has been commenced. The program will also review the potential recovery of cobalt from Mayville. (No revenues from cobalt from the Mayville Deposit were included in the PEA ) Ian Ward P. Eng. is overseeing the program as a consultant to the Company. The test program is being conducted under contract with XPS Expert Process Solutions ("XPS"), a Sudbury based technical consultancy and testing firm. XPS has extensive experience in flowsheet development and nickel - copper - cobalt ores.
Mayille Lithium
The Company has also completed a drill program on its Mayville Lithium Project Main Dyke. Results are pending and will be reported under separate cover. Drill holes were completed over a strike length of 775 meters. The focus of the program is to examine the potential for producing a high value spodumene concentrate product. The Main Dyke is one of four known lithium bearing pegmatites on the Mayville Property. The Main Dyke and Northwest Dyke together host a historical resource of 3.8 million tons grading 1.28% Li2O. (Source: Manitoba Mineral Inventory File #229. Resources are historical in nature and not NI 43-101 compliant. The Company does not consider the historical resource estimate as a current resource estimate and is not relying on the historical resource estimate as a current resource estimate until such time as a Qualified Person has reviewed and confirmed the data. )
Iron-Chromite-Titanium-Vanadium Sampling
The Company has initiated an initial sampling program of drill core to test for magnetite hosted vanadium mineralization that may be associated with the layered complex at the Red Cloud area of the Mayville Property. A total of seventy five samples have been submitted for analysis.
To find out more about Grid Metals, please visit our website at www.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
Robin Dunbar - President, CEO & Director
Telephone: 416-955-4773
Email: [email protected]
We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its properties, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
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SOURCE: Grid Metals Corp.