Patriot Battery Metals Inc. Unveils Update on 2024 Summer-Fall Exploration and Development Activities at Shaakichiuwaanaan, Quebec, Canada
Patriot Battery Metals Inc. (PMET, PMT, PMETF) has released an update on the significant exploration and development activities undertaken at its 100%-owned Shaakichiuwaanaan Property, formerly known as Corvette, in the Eeyou Istchee James Bay region of Quebec, Canada. This update highlights the company’s continued commitment to advancing the feasibility study for the CV5 Spodumene Pegmatite, a key component of the Shaakichiuwaanaan Project.
Drill Campaign Nears Completion
The 2024 drill campaign, which began in January, is nearing completion, with approximately 127,700 meters (428 holes) drilled at Shaakichiuwaanaan. While results for over 65,000 meters (262 holes) are pending final assays, the company has already achieved significant milestones. The extensive infill drilling program at the CV5 Spodumene Pegmatite has been instrumental in supporting the conversion of inferred resources to indicated resources, a critical step towards a more robust Mineral Resource Statement targeted for March/April 2025. This conversion directly underpins the Feasibility Study, scheduled for completion in the third quarter of 2025.
Focus on the CV13 Spodumene Pegmatite’s High-Grade Vega Zone
The company has also completed approximately 10,000 meters (33 holes) of follow-up drilling at the CV13 Spodumene Pegmatite’s high-grade Vega Zone, discovered during the winter program. Results from this drilling are pending final assays and will be reported in a subsequent news release.
Comprehensive Geotechnical, Hydrogeological, and Geomechanical Studies
Patriot Battery Metals has conducted comprehensive geotechnical, hydrogeological, and geomechanical drilling programs in support of the Feasibility Study. These programs, anticipated to be completed within two weeks, have generated a substantial amount of data, which will inform the development of critical infrastructure including the process plant, mining camp, stockpiles, waste rock and tailings management facilities, and the envisioned open-pit.
Monitoring Well Installation and Long-Duration Pump Tests
The hydrogeological program included the installation of monitoring wells in over 35 holes and the execution of long-duration pumping tests, providing valuable insights into the groundwater flow regime and hydraulic properties of the rock formations. This data will be crucial for optimizing dewatering strategies during the mining operation.
Surface Exploration and Environmental Field Programs
The company also completed a surface exploration program in early October, including channel sampling, geological mapping, and prospecting. This program is designed to further refine the geological and block models for the CV5 and CV13 spodumene pegmatites, providing valuable data for the Feasibility Study. Environmental field programs have progressed as planned and a summary will be presented in a subsequent news release.
Executive Comments
Ken Brinsden, President, CEO, and Director of Patriot Battery Metals, expressed his satisfaction with the significant progress made throughout the year: “There has been significant activity at the site throughout the year, both in new exploration and in support of Project development for CV5 as we progress the Feasibility Study. Our Preliminary Economic Assessment (“PEA”), announced August 21, 2024, outlined a compelling economic scenario for the development of Shaakichiuwaanaan’s CV5 Spodumene Pegmatite and provides significant confidence in the potential for the Project to be a lithium raw material supply powerhouse to the North American and European markets. With a Project of world-class caliber, coupled with our exploration and development team expertise and commitment, we remain on track for a Q3-2025 Feasibility Study and ESIA release.”
Commitment to a Robust Feasibility Study
Patriot Battery Metals remains committed to delivering a robust Feasibility Study, which will provide a comprehensive assessment of the economic and technical viability of the Shaakichiuwaanaan Project. The company’s multi-faceted approach, incorporating extensive drilling, engineering studies, metallurgy, channel sampling, geological mapping, environmental assessments, and social engagement, is ensuring a comprehensive and well-informed study. The results of these efforts will be crucial in determining the future of the project and its potential to become a major supplier of lithium to the global market.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company dedicated to advancing its district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette), located in the Eeyou Istchee James Bay region of Quebec, Canada. The Shaakichiuwaanaan Mineral Resource, encompassing the CV5 & CV13 spodumene pegmatites, totals 80.1 Mt at 1.44% Li2O Indicated, and 62.5 Mt at 1.31% Li2O Inferred, establishing it as the largest lithium pegmatite resource in the Americas and the 8th largest in the world. The property also hosts multiple other spodumene pegmatite clusters awaiting drill testing and significant areas of prospective trend requiring assessment.
For further information, please contact:
Patriot Battery Metals Inc.
info@patriotbatterymetals.com
+1 (604) 279-8709
www.patriotbatterymetals.com
