Impact: Positive
Grid Metals announced results from seven drill holes completed in 2018 that were previously unreported from its 100%-owned Mayville property in southeast Manitoba. Drilling focused on the Main Dyke lithium pegmatite target, located ~2km south of its PEA-stage Mayville Cu-Ni-Co-PGM deposit. As well, the company reported encouraging sampling results from the NE Dyke target, and outlined its future exploration plans for its Manitoba properties. Overall, we are encouraged to see Grid dust off its Mayville project amidst a heated lithium market. In our view, Mayville’s Li potential provides investors with an additional source of upside outside the existing Makwa-Mayville deposits and its other PGM and base metal assets.
