Source: Patriot Battery Metals.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Patriot Battery Metals (PMET) has increased its land position in the La Grande Greenstone Belt by acquiring a 100-per-cent interest in the Pontois West Property
  • The Pontois West Property is a block of 31 contiguous claims of 1,587.2 hectares, located in the James Bay Region of Quebec
  • The property is located about 10.5 km directly west of the company’s Corvette Property and adds an additional 8.3 km of highly prospective lithium pegmatite trend
  • Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals
  • Patriot Battery Metals Inc. was up 3.177 per cent, trading at $6.40 as at 9:33 AM ET

Patriot Battery Metals (PMET) has acquired a 100-per-cent interest in the Pontois West Property.

The Pontois West Property is a block of 31 contiguous claims of 1,587.2 hectares, located in the James Bay Region of Quebec.

The property is located about 10.5 km directly west of the company’s Corvette Property and adds an additional 8.3 km of highly prospective lithium pegmatite trend, which is host to the same regional rock suite as the CV Lithium Trend on the Corvette Property.

“This was a great opportunity to add another 8 k’s of the trend on the west end of our Corvette Property,” said the company’s CEO, President and Director, Blair Way.

The company shall acquire a 100-per-cent interest in the property by way of a purchase agreement whereby the company shall pay C$100,000 cash and issue 220,000 common shares in the capital of the company, upon receipt of TSX Venture Exchange approval.

The vendor will also retain a 2-per-cent net smelter royalty (NSR) which has a 50-per-cent buyback option by the company for $1,000,000.

The property has been acquired for its lithium pegmatite potential. However, it is considered to also be prospective for orogenic gold and volcanogenic massive sulphide.

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.

The company’s flagship asset is the 100-per-cent-owned Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec.

Patriot Battery Metals Inc. was up 3.177 per cent, trading at $6.40 as at 9:33 AM ET.


More From The Market Herald

" Prime Meridian (TSXV:PMR) announces $1M financing

Prime Meridian Resources Corp. (PMR) has signed a non-brokered private placement financing agreement for proceeds of up to $1 million.

" Fortune Bay (TSXV:FOR) files Goldfields PEA

Fortune Bay (FOR) has filed an independent preliminary economic assessment (PEA) for its Goldfields Project in Saskatchewan.

" Emperor Metals (CSE:AUOZ) announces $5M private placement

Emperor Metals (AUOZ) has announced a non-brokered private placement for gross proceeds of up to $5,001,550.
Emerita Resources Corp. - CEO, David Gower

" Emerita (TSXV:EMO) announces Aznalcóllar trial date

Emerita Resources (EMO) announced the Third Section of the Provincial Court of Seville has set the date court date regarding the Aznalcóllar package.