Battery metals explorer Grid Metals (TSXV: GRDM) will team up with Teck Resources (TSX: TECK.A/TECK.B) to advance the Mawka nickel-copper-PGM (platinum group metals) project in southeastern Manitoba.
Under an option agreement entered on Thursday, Teck can acquire up to a 70% interest in the project by spending C$15.7 million on the project and making staged cash payments totalling C$1.6 million to Grid Metals.
The Canadian mining major can first acquire a 51% interest by making C$600,000 in cash payments, including a firm commitment of C$400,000, and spending a total of C$5.7 million on exploration over four years. To acquire the additional 19%, it needs to spend C$10 million on exploration over the following three years.
For the rest of this article: https://www.mining.com/grid-metals-teck-resources-team-up-to-explore-nickel-sulphide-project-in-manitoba/