on Grid Metals Corp. (isin : CA39814L1076)
Grid Metals Corp. Files Technical Report for MM Copper/Nickel Project
Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has announced the filing of a technical report on SEDAR for the updated Mineral Resource Estimate (MRE) of its MM Project in southeastern Manitoba. The MM Project consists of two deposits, Makwa and Mayville, located about 35 km apart and 145 km from Winnipeg. Makwa is rich in nickel with palladium, platinum, and copper; Mayville is copper-dominant with significant nickel.
The indicated open pit category contains 317 million pounds of copper, 263 million pounds of nickel, and 452,000 ounces of precious metals. The company plans to commence exploration drilling at Mayville in Q3 2024, financed by existing working capital. The target is to increase contained tonnage to between 75 and 100 million tonnes with similar or better grades.
Grid Metals aims to develop the MM Project to meet increasing nickel demand. The project, located in Manitoba, may become crucial for the North American EV supply chain. Qualified Persons from Micon International Limited prepared the MRE, which has an effective date of December 31, 2023.
R. P.
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