- Patriot Battery Metals (PMET) is engaged in mineral exploration with a focus on battery, base and precious metals
- The company’s 100-per-cent-owned Corvette Property represents a new
lithium pegmatite district in Quebec’s James Bay Region
- Highlight intercepts include 156.9 m at 2.12 per cent Li2O
- The first eight drill holes of 2023 intersected various widths of spodumene pegmatite ranging from 8 m to 132 m, with assays pending
- Patriot Battery Metals (PMET) is up by 3.11 per cent, trading at $13.92 per share
- The stock is up by over 400 per cent YoY
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The project on the tip of everyone’s tongues
Patriot Battery Metals (PMET) is engaged in mineral exploration with a focus on battery, base and precious metals. But it’s the battery portion of their tripartite focus that has been turning heads in the mining world over the past 10 months.
The company’s flagship and 100-per-cent owned Corvette Property – 214 km2 land package, ~50 km prospective lithium pegmatite trend – represents a new
lithium pegmatite district in Quebec’s James Bay Region. The property hosts the high-potential CV Lithium Trend, with the majority of 95 drill holes (27,470 m)
through 2022 intercepting pegmatite.
To date, Patriot has identified six significant clusters of lithium pegmatite outcrop along the CV Lithium Trend, with drilling defining a principal spodumene pegmatite body (CV5) extending for at least 2.6 km, while remaining open along strike and to depth.
Highlight intercepts at CV5 include:
- 156.9 m at 2.12 per cent Li2O, including 25 m at 5.04 per cent Li2O or 5 m at 6.36 per cent Li2O (CV22-083)
- 159.7 m at 1.65 per cent Li2O (CV22-042)
- 131.2 m at 1.96 per cent Li2O (CV22-100)
- 52.2 m at 3.34 per cent Li2O, including 15 m at 5.10 per cent Li2O (CV22-093)
Such outstanding results, which management believes to be global top-tier, have led a multitude of competitors to buy land adjacent to Corvette in the hopes of securing a long-term lithium supply. These include Victory Battery Metals, MAX Power, Lithium One and Infinity Stone Ventures, among others.
In terms of Corvette’s preliminary metallurgy, scoping test work indicates over 5.5 per cent Li2O spodumene concentrate at high recovery (over 75 per cent) using a simple process flowsheet.
In terms of backing up its potential contribution to the electric vehicle supply chain with ESG awareness, the project is only 15 km from power lines connected to La Grande-4, one of the world’s largest hydropower schemes in the world, which may enable the primary use of green energy to power operations.
To date, the company has identified over 70 lithium pegmatite outcrops across over 20 km of trend, which leaves over 20 km to be explored.
Patriot’s ongoing winter drill program, initiated in January 2023, is focused on expanding lithium mineralization and building on positive investor sentiment, which has boosted PMET stock by over 400 per cent YoY as stellar 2022 results continued to roll in.
So far in 2023, eight drill holes have intersected various widths of spodumene pegmatite, ranging from 8 m to 132 m, extending CV5’s strike length by an additional 400 m to the east. Though assays are pending, it’s clear that management and battery metals explorers across Canada are on the edges of their seats, keen on learning from and capitalizing on the Corvette resource as crews delineate its district-scale potential.
Patriot Battery Metals (PMET) is up by 3.11 per cent, trading at $13.92 per share as of 1:54 pm EST.