on Grid Metals Corp. (isin : CA39814L1076)
Grid Metals Corp. Partners with Teck for Makwa Nickel Project
Grid Metals Corp. has announced an agreement with Teck Resources Limited to explore and develop the Makwa nickel project in Manitoba, Canada. The project aims to discover a Tier 1 deposit of nickel-copper-PGM-cobalt. Grid retains 100% interest in the nearby Mayville property.
Teck can earn a 70% interest in Makwa by investing CAD$15.7 million in exploration and making CAD$1.6 million in cash payments. Initial commitments include a CAD$400,000 cash payment and CAD$450,000 in expenditures. The agreement awaits TSX-V approval.
Robin Dunbar, CEO of Grid, emphasizes the benefits of Teck's involvement in providing financial and technical support. Teck's Vice President, Stuart McCracken, highlights the agreement as a strategic exploration opportunity in a promising area.
R. P.
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