Grid Metals Corp. (GRDM.V) has engaged SGS Canada Inc. to complete a maiden cesium and lithium mineral resource estimate (MRE) for the Lucy South pegmatite at its Falcon West Property in southeastern Manitoba, the company announced August 6, 2026. Results are expected this fall, per the company's August 6, 2026 news release.
The final Phase 2 drill program delivered six reported intercepts. Hole LU26-32 cut 4.25 m grading 3.81% Li₂O. LU26-35 returned 3.00 m at 3.68% Li₂O. LU26-21 intersected 6.40 m at 2.95% Li₂O and LU26-28 returned 6.14 m at 2.95% Li₂O. The program also delivered wider intervals: LU26-37 graded 1.30% Li₂O over 15.4 m, and LU26-49 returned 1.39% Li₂O over 8.30 m. All figures per the company's August 6, 2026 news release.
The geological picture matters here. Lucy South is described in the company's August 6, 2026 release as a roughly 10-metre-thick, near-surface, highly fractionated cesium-lithium-tantalum-enriched pegmatite body hosting a discrete pollucite-rich zone — pollucite being the primary ore mineral for cesium. Resource drilling has defined that cesium zone over an area of approximately 120 metres by 50 metres, with known pollucite mineralization occurring over a true thickness of less than 1 metre to 4 metres. The zone remains partially open to the north, east, and south, per the same release.
The property sits 130 km east of Winnipeg, transected by the Trans Canada Highway. Falcon West comprises 124 unpatented mining claims, per the company's news release.
The asset now has a formal joint venture structure behind it. On July 31, 2026, Grid announced TSX Venture Exchange approval of a definitive JV agreement with Avenir Minerals Limited, under which Grid sold 15% of the Falcon West Property to Avenir for C$3,750,000. Grid retains 85% and operatorship, per the company's July 31, 2026 news release.
Grid's balance sheet showed CA$2.86 million in cash as of the most recent quarter, per Yahoo Finance. The company's market capitalization stands at CA$29.155 million, per Yahoo Finance as of August 6, 2026. On July 31, 2026 — the same day TSX-V approval of the Avenir JV was announced — GRDM.V closed at CA$0.148 on volume of 1,040,000 shares, per ingested market data from that date.
Beyond Falcon West, Grid describes itself as one of the largest mineral rights holders in Manitoba, with over 250,000 hectares of mineral claims and exploration licenses registered to the company, per the August 6, 2026 news release.
The TSX Venture Composite closed August 6 at 920.29, up 2.38%, per Yahoo Finance.
SGS Canada's NI 43-101-compliant MRE, expected this fall per the company's August 6, 2026 announcement, will be the first formal resource figure for Lucy South. Until that estimate is published, the project's cesium and lithium inventory is characterized by drill intercepts only — the six Phase 2 holes listed above and the pollucite zone geometry SGS will now model.