Grid Metals Unveils Maiden Cesium Resource at Falcon West, Claiming World's Second Largest in Development
MSMGF has more than doubled off its 52-week low of $0.045 on light trading volume (0.3× avg).
Summary
Grid Metals announced a maiden Mineral Resource Estimate for the Lucy South cesium deposit at Falcon West, Manitoba. The measured resource totals 51,500 tonnes at 2.58% Cs2O and 1.47% Li2O, including a higher-grade pollucite zone of 15,600 tonnes at 5.19% Cs2O. The deposit is shallow (~20m average depth) and amenable to open-pit mining. Grid claims this makes Lucy South the second largest cesium resource in active development globally by western companies. Cesium is a critical mineral with supply chain vulnerability, and only three primary cesium mines have ever operated. The project is a joint venture with Avenir Minerals (Agnico Eagle subsidiary), with Grid holding 85% and operating. Next steps include metallurgical testing, permitting, and winter drilling to expand the resource. This is a significant de-risking event for a micro-cap explorer, establishing a concrete resource base for a rare critical mineral.
At the time of this announcement, MSMGF was trading at $0.10 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $23.7M. The 52-week trading range was $0.05 to $0.13. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: ACCESS Newswire.