Palladium and Grid Metals.
Over the past several months the price of palladium has risen dramatically and is now more expensive per ounce than gold. Our Makwa Mayville Project has over 300,000 ounces of palladium as part of the resource. Palladium often occurs as a by-product of nickel ores in particular.
Geologically stand alone palladium deposits are rare. Having said that, Grid has a palladium dominant exploration zone at the Mayville Property (the PGE Zone ) that has produced some impressive intercepts and needs more drilling.
Last but not least Grid owns extensive claims covering the East Bull Lake Layered intrusion near Sudbury. East Bull is a bona fide exploration target for palladium and platinum ( with only low values of copper and nickel generally ). Drilling has produced impressive intercepts over the years. Previously we have joint ventured this property to two major mining companies.
At minimum the rising palladium price in particular will help bolster our project economics if the price for palladium remains above $800 ounce - the price we used in the scoping study.
The attached article highlights the very strategic nature of palladium - a green metal used to reduce particulate emissions in internal combustion engines.
We look forward to keeping our shareholders apprised of the strong fundamentals for palladium and our efforts to find more.
Robin Dunbar
President and CEO
Grid Metals Corp.
