Grid Metals (TSXV: GRDM; OTCQB: MSMGF) has updated the indicated resource at its MM (previously Makwa Mayville) project in southeastern Manitoba. Contained metal is estimated to be 317 million lb. copper, 263 million lb. nickel, and 452,000 oz. combined palladium-platinum-gold.
There are two deposits suitable for open pit mining: the copper-rich Mayville and the nickel-rich Makwa. Both have underground potential as well.
The Mayville indicated resource is 32.0 million tonnes grading 0.16% nickel, 0.40% copper, 0.01% cobalt, 0.13 g/t palladium, 0.05 g/t platinum, and 0.05 g/t gold (0.61% copper equivalent. No inferred resource was reported at Mayville.
The Makwa indicated resource is 14.2 million tonnes grading 0.48% nickel, 0.11% copper, 0.02% cobalt, 0.37 g/t palladium, and 0.10 g/t platinum (0.75% nickel equivalent. There was also an inferred resource of 18,000 tonnes grading 0.23% nickel, 0.04% copper, 0.01% cobalt, 0.11 g/t palladium, and 0.04 g/t platinum.
Compared to the previous 2014 resource estimate for the MM project, the combined indicated open pit resources increased by 12.4 million tonnes or 36.8%. This increase is largely attributable to the inclusion of recent infill drilling at Makwa, improved metallurgical recoveries from tests completed after the previous resource estimate was published, and a more favourable U.S. dollar to Canadian dollar exchange rate.
More details about the MM project are posted on www.GridMetalsCorp.com.
