Grid Metals Commissions Mineral Resource Estimate for Falcon West; Announces Final Assays from Phase 2 Drill Program
Grid confirms a cesium zone in final phase 2 assays and commissions a resource estimate alongside a JV with Agnico-backed Avenir.
Grid Metals Corp. (GRDM) has reported the final batch of assays from the Phase 2 delineation program at its Falcon West cesium/lithium property, covering holes LU26‑51 to LU26‑67. The company has engaged SGS Canada to prepare a maiden cesium and lithium resource estimate, which is expected in fall 2026.
Key intercepts from the program include: - LU26‑60: 2.75 m grading 5.44% Cs₂O and 1.52% Li₂O (including 0.60 m at 14.4% Cs₂O) - LU26‑51: 0.63 m grading 3.53% Cs₂O and 3.36% Li₂O - LU26‑57: 0.88 m grading 2.53% Cs₂O (including 0.14 m at 12.5% Cs₂O) - LU26‑55: 2.45 m grading 1.00% Cs₂O (including 0.10 m at 4.02% Cs₂O and 4.60% Li₂O) - LU26‑67: 1.65 m grading 0.99% Cs₂O and 3.37% Li₂O
Eight of the 17 holes intersected pollucite, while twelve intersected spodumene. The cesium zone is now defined over an area of 120 m × 50 m at 5–10 m drill spacing, with true thicknesses ranging from less than 1 m to 4 m. The zone remains partially open to the north, east, and south.
Grid Metals Corp. (GRDM) has concluded Phase 2 resource-definition drilling and formally commissioned a mineral resource estimate (MRE). The intercepts confirm that the cesium zone contains high grades but over limited dimensions. The market had already priced in a potential resource following the joint venture with Agnico-backed Avenir, which provided CAD $3.75 million in cash and validation. The stock rallied from $0.09 to $0.14 on the JV announcement. The news is considered routine positive, serving as expected groundwork for the resource estimate, which will be the next material catalyst.
Grid Metals Corp. (GRDM) is a junior explorer with no revenue, focused on critical and base metals in Manitoba. Its primary asset is the Falcon West cesium/lithium pegmatite, which is 100% owned and now in a joint venture with Avenir Minerals, a subsidiary of Agnico Eagle, after the company sold an initial 15% interest for $3.75 million. The Makwa nickel-copper-PGE project is under a joint venture with Teck Resources, which can earn up to 70%. The Thompson East project has a joint venture agreement with Boliden, which can earn 80%. Cash was approximately $5 million post-joint venture close, according to the July 2026 investor factsheet. The company’s market cap is CAD $32.6 million with 233 million shares outstanding.