Drill Results Routine +

Grid Metals Corp. Provides Update on Makwa Nickel-Copper-PGE Project

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

By The Northwire Desk — AI Analysis Jun 09, 2026 · 07:00 GRDM · 0.115 Grid Metals Corp.

Executive Summary

Grid Metals provided an exploration update on its Makwa Nickel-Copper-PGE project in Manitoba, detailing Q4 2025 drilling at the Pavo Anomaly and new ground EM surveys identifying high-priority, untested conductive targets at Pavo Deep and Ore Fault.
Teck Resources has met its initial milestone under the JV agreement, having incurred over $2M in expenditures to date toward a $15.7M work program and $1.6M cash/equity payments required to earn up to a 70% project interest.
Drilling at the Pavo Anomaly intersected narrow intervals of massive, semi-massive, and net-textured magmatic sulphide mineralization over a ~250m strike length and ~150m depth.
Maximum grade-thickness recorded was 4.13m @ 0.85% Ni, with a peak individual Ni grade of 1.58% Ni over 0.48m. Mineralization shows higher magnetite/pyrite proportions and is interpreted as downgraded by hydrothermal alteration.
New UTEM-5 ground EM surveys identified two intersecting conductive plates at the Ore Fault, with depth extents of 300–400 metres and conductance values exceeding 2,000 Siemens.
Historical drilling at Ore Fault showed high-grade intervals, including 15.00m @ 1.71% Ni and 1.76 g/t Pd.
The updated pit-constrained mineral resource estimate reports 14.2 MMt @ 0.75% Ni Eq, including a higher-grade core of 4.8 MMt @ 1.26% Ni Eq.
A decision on future drilling is pending based on the integration of geophysical and drilling data.

Material Impact

The news confirms that Teck Resources is progressing on its JV commitments, which validates the partnership and reduces execution risk for the Makwa project.
The Pavo Anomaly drilling results are encouraging but reflect narrow, downgraded intervals likely altered by hydrothermal processes. The results are consistent with the company's stated exploration model and do not represent a breakthrough discovery.
The new EM targets at Pavo Deep and Ore Fault provide clear, high-priority next steps for exploration, aligning with the company's stated plan to test feeder structures and conductive plates.
The update is incremental to the broader exploration program and fits within the expected timeline of the Teck JV. It does not materially alter the company's valuation or near-term catalysts but provides necessary validation of the project's potential.

GRDM · Price

Company Overview

Grid Metals Corp. is a pre-revenue junior explorer focused on critical and base metals properties in Manitoba and Ontario.
Falcon West (Cesium): 100% owned. Hosts the Lucy South pegmatite, a highly fractionated LCT system with near-surface pollucite and spodumene mineralization. Phase 2 drilling is complete, with a maiden resource estimate targeted for Q3 2026.
Makwa (Nickel-Copper-PGE): Option & JV with Teck Resources. Teck can earn up to a 70% interest. The project features a 14.2 MMt resource at 0.75% Ni Eq and is targeting high-tenor massive nickel sulphides.
Thompson East (Copper/Nickel/PGE): Option & JV with Boliden. Boliden can earn an 80% interest by funding $10.1M over four years.
Mayville (Copper): Significant M&I open-pit resource (32 Mt Indicated at 0.61% CuEq).
Donner (Lithium): 6.8 Mt Inferred Resource at 1.39% Li2O.

More from Grid Metals Corp.