Grid Metals targets Ontario palladium deposit, Ontario
Grid Metals Corp. [GRDM-TSXV; MSMGF-OTC; NJF1-FSE] on Friday April 9 released new drilling results from the Central Parisien Lake target area on its East Bull Lake palladium project near Sudbury, Ontario.
The company also said a metallurgical study has been launched to confirm the potential for generating a palladium-rich sulphide concentrate from representative core samples from the Parisien Lake area.
Grid Metals is an exploration and development company with a diversified portfolio of projects in the nickel-copper-platinum group metal sectors. The company said these are commodities that are vital to the emerging battery metals, energy storage and automotive sectors. Its portfolio includes the Makwa Mayville nickel-copper project, which is located on the Bird River Greenstone Belt approximately 145 km from Winnipeg, Manitoba.
The 100%-owned East Bull Lake (EBL) palladium property covers 80% of the EBL intrusion that shares many geological characteristics with the older Lac des Iles complex in northwestern Ontario, host to Canada’s only primary palladium mine.
The property is easily accessible from the city of Sudbury, located 80 kilometres to the east, by way of an all-weather provincial road that connects to the Trans-Canada Hwy.
The three holes step-out holes announced Friday were between 30 metres and 250 metres away from discovery hole EBL20-13, which intersected 119.0 metres averaging 1.13 g/t pallium equivalent (PdEq). Significant widths of anomalous palladium and copper sulphide mineralization were encountered, including 22.0 metres of 0.81 g/t pallium PdEq in hole EBL21-04. Narrower, higher-grade intervals were also intersected, including 2.0 metres of 5.39 g/t PdEq in hole EBL21-05.
“The new results continue to demonstrate the potential for a significant, near-surface palladium deposit in the Central Parisien Lake target area,” said Dave Peck, Grid’s vice-president of exploration and business development.
Winter drilling has now been completed. Results from the first three holes were reported March 11, 2021. The company said 13 holes were drilled at the Central Parisien Lake target and another two in a new target area located about 400 metres south.
Geological logging indicates the Inclusion-bearing Zone, the principal host to East Bull Lake, is present in all 13 holes. This information, combined with 2020 and historical drilling results in the area, expands the Central Parisien Lake palladium zone to 1.7 km in length and up to 500 metres wide. The zone remains open to both the east and west, and down-dip to the northwest.
Drilling will start at its Bannockburn nickel property before month end 100 km south of Timmins, Ontario.