Grid Metals Corp. is proceeding with a maiden mineral resource estimate for the Lucy South pegmatite at its Falcon West property in Manitoba. The company has engaged SGS Canada Inc. to prepare the estimate and an accompanying technical report compliant with National Instrument 43-101 standards, with results expected this fall.

"SGS has extensive experience in resource estimation across multiple ore types and commodities," the company stated.

The resource calculation follows the conclusion of a two-phase delineation drilling program, which involved a total of 134 drill holes across the property. The drilling targeted a highly fractionated core zone enriched in lithium, cesium, and tantalum. Of particular interest is a subzone identified as the Lucy South cesium zone, which hosts pollucite mineralization.

"With its high concentration of cesium (can contain greater than 30% cesium oxide), pollucite is the mineral of choice for extraction of cesium for processing into value-added cesium chemicals," the company noted.

Final assays from the Phase 2 drill program—covering holes LU26-51 to LU26-67—returned significant intercepts, including 2.75 metres grading 5.44% Cs2O and 1.52% Li2O in hole LU26-60, which included a sub-interval of 0.60 metres at 14.4% Cs2O. Eight of the 17 holes in this final batch intersected pollucite, while 12 intercepted spodumene.

Grid Metals is currently advancing the Falcon West project under a joint venture agreement with Avenir Minerals, which holds a 15% interest. Avenir maintains the right to increase its ownership in the project to 30% upon the completion of a preliminary economic assessment or the adoption of a mine plan. Additionally, the agreement allows Avenir to increase its equity stake in the company to 19.99% following the release of the maiden mineral resource estimate.

Shares in the company are currently trading at $0.14, up 3.70% in the session.

Read the full announcement: Grid Metals Commissions Mineral Resource Estimate for Falcon West; Announces Final Assays from Phase 2 Drill Program