21C Metals and Grid Metals Form Exploration Information Alliance to Optimize Exploration of Palladium Mineralization in East Bull Intrusion
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2019) - 21C Metals Inc. (CSE: BULL) (FSE: DCR1) (OTCQB: DCNNF) ("21C Metals" or the "Company") is pleased to announce the formation of an Information Alliance with Grid Metals Corp. (TSXV: GRDM). The alliance will allow the sharing of exploration methods and results and potential partnering in larger scale geophysical programs to optimize the expenditure of exploration dollars on the East Bull Platinum Group Metal Intrusive.
The Information Alliance of 21C and Grid Metals will promote dialogue between the Company's exploration teams. The claim holdings of the two companies cover the majority of the East Bull mafic to ultramafic intrusion located approximately 70-90 kilometres west of Sudbury Ontario. 21C is commencing a diamond drill program to expand the inferred Palladium mineral resource. Grid Metals claim block covers a large number of known PGE Cu-Ni occurrences last worked in the early 2000's.
Information on East Bull Intrusive Project geology and mineralization is contained in the 21C Metals East Bull Project National Instrument (NI) 43-101 Technical Report dated April 15, 2019, filed on SEDAR at www.sedar.com and on the 21c Metals Mines website at www.21Cmetals.com.
21C Metals East Bull Property:
The East Bull Property hosts an inferred resource of 11.1 million tons @ 1.46 g/t Palladium Equivalent (Pd Eq) for a total estimate of 523,000 ounces of PdEq (See July 3 press release and sedar.com).
Wayne Tisdale, President of 21C Metals commented, "With palladium over $1800/oz and a worldwide deficit, now is the ideal time to aggressively explore the East Bull property. We look forward to expanding upon our maiden resource as the body is open in all directions. 21C Metals shareholders will benefit from a sharing of geological information and cooperation with Grid Metals."
Robert Dunbar, President of Grid Metals commented, "East Bull is a highly mineralized system that has yielded a significant number of drill intercepts suggesting potential for both open pit and underground grade deposits. Not only does East Bull have excellent infrastructure but it is 80 km from Sudbury where PGM concentrates are currently processed. Palladium is a precious metal so we need lots of drilling and coordinating our exploration efforts with 21C and their quality team where we can make sense. I believe East Bull is a success story in the making."
To join 21C Metals' investor group please follow this link: http://bit.ly/Join21CGroup.
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the "Qualified Person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release.
For additional information please contact:
21C Metals Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4455
The Company believes that the information contained in this press release are relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company's exploration program.
The Company engaged P&E Mining Consultants Inc. to complete a Technical Report and Initial Mineral Resource Estimate on the East Bull property (see July 3, 2019 Press Release).
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49493