Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results

Grid Metals Reports Second Batch of Assays from its Phase 2 Drill Program at Falcon West; Cesium Mineralization Intercepted 75 m North of Lucy South Target Area

Grid Metals Advances Falcon West Cesium Resource Definition with Phase 2 Assays

By The Northwire Desk — AI Analysis May 05, 2026 · 07:00 GRDM · 0.11 Grid Metals Corp.
Executive Summary
  • Grid Metals Corp. reported the second batch of assay results from its Phase 2 drill program at the Falcon West Property (Lucy South target).
  • The release confirms cesium mineralization in the Lucy North target area, approximately 75 meters north of the previously defined Lucy South zone.
  • Notable intercepts include up to 4.34% Cs2O over 2.70m and significant lithium grades (up to 3.81% Li2O).
  • The company expects to complete a maiden resource estimate in Q3 2026 following the receipt of 17 pending assays from Phase 2.
  • A third-party consultant has been selected for the resource estimation study and NI 43-101 Technical Report.
  • Ore sorting tests are planned later this year using core samples collected during metallurgical studies.
Material Impact
  • The news is a continuation of the Phase 2 drilling program announced in April 2026, confirming progress toward the promised Q3 resource estimate.
  • While positive for project advancement, the grades reported in this batch (max 4.34% Cs2O) are lower than the headline intercepts from earlier phases (e.g., 12.9% and 20.45% Cs2O), suggesting potential grade dilution as the zone expands.
  • The discovery of mineralization in Lucy North is a material extension, validating the open-potential along strike but does not fundamentally alter the valuation thesis compared to previous high-grade announcements.
  • No new financing or strategic partnership was announced; the market likely priced in the resource timeline from prior updates (Feb/April 2026).
  • The stock is currently trading below the October 2025 private placement price ($0.12), indicating limited upside momentum despite positive technical progress.
GRDM · Price
Company Overview
  • Company: Grid Metals Corp. (TSXV: GRDM).
  • Flagship Project: Falcon West Property (Lucy South Pegmatite), 100% owned in Manitoba, Canada.
  • Target: High-grade Cesium (Pollucite) and Lithium (Spodumene) mineralization.
  • Status: Exploration phase; Phase 1 and Phase 2 drilling completed; Resource estimate pending Q3 2026.
  • Other Assets: Makwa (Ni-Cu-PGM JV with Teck), Mayville (Cu resource defined), Donner (Li-Cs JV).
Read the original news release →

More from Grid Metals Corp.

Oct 08, 2026 · 07:00

Grid advances its Falcon West project to mine planning and permitting with AECOM engagement.

Regulatory Sep 30, 2026 · 07:00

Grid’s maiden MRE defines 51.5kt of measured cesium resource at the Falcon West deposit.

Resource Estimate Sep 08, 2026 · 16:30

Grid confirms pollucite at Falcon West, setting the stage for XRT ore-sorting tests as the next project catalyst.

Technical Study Aug 06, 2026 · 07:00

Grid confirms a cesium zone in final phase 2 assays and commissions a resource estimate alongside a JV with Agnico-backed Avenir.

Drill Results Jul 31, 2026 · 16:30

Grid secures $3.75 million in non-dilutive capital for its Falcon West cesium joint venture following TSXV approval.

M&A / Property Jul 20, 2026 · 16:30

Agnico Eagle’s joint venture de-risks the Falcon West cesium project with a $3.75 million upfront payment and an equity option.

M&A / Property