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Grid Metals Corp. (TSXV:GRDM) – Notable News

October 18, 2022

Grid Metals Corp. (TSXV:GRDM, BUY, C$0.40 target, Taylor Combaluzier) has signed an MOU with Tantalum Mining Corp. of Canada Ltd. (Tanco). Under the agreement, Grid will supply samples from its Donner Lake Li JV property in Manitoba for metallurgical testing at the Tanco mine to assess the production of a quality Li spodumene concentrate. Donner Lake is currently under a 75%/25% JV between Grid and Lithium Royalty Corp. (LRC), and both Tanco and LRC hold a 2% NSR royalty on the property. Additionally, the Tanco mine is currently the only North American producer of Li spodumene concentrate. Upon approval and receipt of regulatory permits, both companies are expected to enter into a binding agreement to split the costs and profits of mining, processing and selling Li spodumene concentrate. We view this announcement positively as Grid continues to advance the Donner Lake property. Recent drilling results from its Phase 1 program (read more) have also demonstrated consistent grades along 600m of strike drilled to date. With drill results returning up to 1.49% Li2O from the Northwest dyke, we believe this compares favourably to other Li peer company resource grades, including Critical Elements (TSXV:CRE, Not Rated) at 0.85% Li2O, Rock Tech Lithium (TSXV:RCK, Not Rated) at 1.1% Li2O and Foremost Lithium (CSE:FAT, Not Rated) at 0.9% Li2O. Read more

Company Specific Disclosure Details

Grid Metals Corp. – TSXV:GRDM – 3,4

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