Grid Metals drills 3.8 m of 12.9% Cs2O at Falcon West

Executive Summary

• Grid Metals Corp. released initial assay results from the first 11 holes of its Phase 2 drill program at the Falcon West property, highlighting significant cesium, lithium, and tantalum intercepts within the Lucy South pegmatite.
• The results confirm the presence of a highly fractionated LCT (lithium-tantalum-cesium) pegmatite with cesium hosted in pollucite, a mineral considered geologically rare and strategically critical.
• Phase 2 drilling is complete with 67 holes totaling 3,075 metres; assays for the remaining 56 holes are pending, after which the company intends to commence an initial cesium resource estimate.

Key Details

• Drilling Program Scope: Phase 2 program completed with 67 holes drilled for a total of 3,075 metres. This follows Phase 1 (67 holes, 3,035 metres). Assays for the remaining 56 holes of Phase 2 are pending.
• Notable Cesium Intercepts:
  • Hole LU26-03: 3.8 metres with 12.9% Cs2O, including 1.6 metres with 26.5% Cs2O (from 19.6 metres).
  • Hole LU26-11: 3.3 metres with 4.32% Cs2O, including 1.0 metre with 13.8% Cs2O (from 27.8 metres).
• Lithium Intercepts:
  • Hole LU26-09: 1.2 metres with 6.16% Li2O (from 39.2 metres), approaching the theoretical maximum lithium oxide content of pure spodumene.
• Tantalum and Rubidium Intercepts:
  • Hole LU26-05: 0.9 metres with 1.48% Ta2O5 (from 39.2 metres).
  • Hole LU26-10: 1.2 metres with 1.53% Rb2O (from 46.0 metres).
• Stepout Drilling:
  • Hole LU26-10 was drilled 70 metres to the east of the currently defined limits of the Lucy South core zone, yielding per-cent-level cesium and rubidium grades, confirming the continuation of the highly fractionated pegmatite environment.
• Geological Context:
  • The exploration target is the Lucy South pegmatite, a globally rare, highly fractionated LCT pegmatite.
  • The mineralized package hosts cesium (pollucite), lithium (spodumene), and tantalum (tantalite).
  • The core zone is approximately five metres wide, predominantly flat-lying, and pollucite mineralization is mostly situated no deeper than 30 metres from surface.
  • The minimum strike length of the pollucite-bearing core zone is approximately 120 metres, with an average width ranging from several metres to approximately 60 metres.
• Future Plans: Grid expects to commence work on an initial cesium resource estimate for Lucy South immediately following the receipt of all assays from the Phase 2 program.
• Strategic Significance: Cesium is designated as a critical metal in both the US and Canada. Global sources of pollucite are extremely limited, with historical production largely controlled by a single Chinese company.

Notable Quotes

• "The strategic nature of cesium is evidenced by its designation as a critical metal in both the United States and Canada. At the current time, the potential sources of pollucite globally are considered extremely limited."
• "The continuation of a highly fractionated pegmatite environment was confirmed with stepout hole LU26-10... This drill hole yielded per-cent-level cesium and rubidium grades."
• "Grid expects to commence work on an initial cesium resource estimate for Lucy South immediately following receipt of all assays from the phase 2 program."