Northwire Canada EditionThursday, October 15, 2026
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GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
Resource Estimate Routine +

Grid Metals Announces Maiden Cesium Resource at Falcon West; Establishes Lucy South Cesium Deposit as the World's Second Largest Cesium Resource in Active Development

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

By The Northwire Desk — AI Analysis Sep 30, 2026 · 07:00 GRDM · 0.15 Grid Metals Corp.
Executive Summary

Grid Metals Corp. (GRDM) announced its maiden Mineral Resource Estimate (MRE) for the Lucy South cesium deposit at its Falcon West Property in southeastern Manitoba. The resource is classified as entirely Measured, totaling 51,500 tonnes at 2.58% Cs2O and 1.47% Li2O.

A nested high-grade Pollucite Zone contains 15,600 tonnes at 5.19% Cs2O and 1.76% Li2O. Contained metal includes 1,322 tonnes of Cs2O and 756 tonnes of Li2O in the Measured category.

The deposit is near-surface, with an average depth of approximately 20 meters, and is amenable to conventional open-pit mining. The company is currently advancing metallurgical testing, including XRT ore sorting, alongside environmental baseline studies and permitting preparation. A new winter drilling round is planned to test for additional cesium occurrences and extensions.

Material Impact

Grid Metals Corp. (GRDM) released a Mineral Resource Estimate (MRE) that aligns with the company’s previously communicated timeline for a Fall 2026 milestone. The update classifies the entire resource as Measured, a designation that reduces geological uncertainty and establishes a technical foundation for advancing toward a Preliminary Economic Assessment (PEA).

The estimated resource size stands at 51.5kt. While modest in volume, the deposit’s high grades and near-surface location support the feasibility of a low-capital expenditure open-pit operation. The announcement serves to validate prior drilling success but does not change the capital requirement timeline or immediate cash needs. No new strategic partnerships, financing terms, or additional market-moving catalysts were announced alongside the MRE.

GRDM · Price
Company Overview

Grid Metals Corp. (GRDM) is a pre-revenue junior explorer focused on critical and base metals in Manitoba and Ontario. Its flagship asset is the Falcon West Cesium/Lithium Property, which hosts the Lucy South pegmatite, a highly fractionated LCT pegmatite. The company also holds other assets, including the Makwa (Ni-Cu-PGE, Teck JV), Thompson East (Ni-Cu-PGE, Boliden JV), Donner (Li), Mayville (Cu-Ni-PGM), and Fox River (Ni-Cu-PGE) projects. Cesium is designated a critical mineral in the US and Canada, with limited global supply and high value, trading at approximately $250,000 per tonne for cesium carbonate.

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 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 Jun 09, 2026 · 07:00

Grid Metals advances its Makwa joint venture with Teck and Falcon West on cesium drilling while its stock consolidates near $0.12.

Drill Results