Grid Metals and Boliden Forge $10 Million Joint Venture for Thompson East Project in Manitoba
Grid Metals Corp. and Boliden Mineral Canada Ltd. have entered a definitive joint venture agreement for the Thompson East copper/nickel project, with Boliden set to invest CAD$10 million over four years. This partnership aims to explore high-potential magmatic deposits in a well-established mining region of Canada, enhancing the competitive landscape for critical mineral resources.
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Grid Metals Corp. has signed a joint venture agreement with Boliden Mineral Canada Ltd. for the Thompson East copper/nickel project in northern Manitoba. Boliden can acquire an 80% interest by funding CAD$9.6 million in exploration and making CAD$500,000 in cash payments over four years, pending TSX Venture Exchange approval.
The project covers 10,600 hectares and includes additional applications for 46,500 hectares. Exploration will utilize advanced geophysical techniques, with initial drilling expected to commence next year. This agreement highlights the growing interest and investment in Manitoba's mining sector, which is critical for developing essential minerals.
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