- Patriot Battery Metals (PMET) has achieved a 25-per-cent interest in the FCI Property in James Bay, QC
- It expects to earn a 50-per-cent interest in FCI upon completion of its 2021 work programs
- The company is finalizing its inaugural drill program on the property and expects core sample assay results in mid-late November
- It may acquire up to a 75-per-cent interest in the property by funding a further C$2 million in exploration expenditures
- Patriot Battery Metals is focused on the acquisition and development of mineral projects containing battery, base and precious metals
- Patriot Battery Metals (PMET) is down by 6.78 per cent and is currently trading at $0.275 per share
Patriot Battery Metals (PMET) has achieved a 25-per-cent interest in the FCI Property in James Bay, QC.
The company may earn up to a 75-per-cent interest in the property as per its option agreement with O3 Mining.
The FCI Property is comprised of two neighbouring claim groupings – FCI East and FCI West – totalling 111 claims (5,688 ha) proximal to regional hydroelectric and road infrastructure.
FCI forms a contiguous land package with Patriot’s Corvette claim block totalling 283 claims and 14,496 ha. The property is situated within the Guyer Group of the greater La Grande Greenstone Belt, which trends east-west through the region, approximately 6-18 km south of the Trans-Taiga Road and power line corridor.
The company is finalizing its inaugural drill program on FCI and expects core sample assay results in mid-late November. The 2021 drill program has focused on the CV5-6 spodumene pegmatites, part of the more than 25-km CV Lithium Trend, as well as the Elsass and Lorraine prospects, which form part of the more than 10-km Maven Copper-Gold-Silver Trend. Patriot is the first to drill test these highly prospective trends.
Upon completion of the 2021 work programs, Patriot expects to have earned a 50-per-cent interest in FCI, having exceeded the required C$2.25 million in exploration expenditures.
It may acquire up to a 75-per-cent interest by funding a further $2 million in exploration expenditures.
Blair Way, Patriot Battery Metals’ President and Director, stated,
“We are very pleased to have earned in the first 25-per-cent interest in FCI as we aggressively advance towards earning 50-per-cent interest. Patriot Battery Metals is positioned strongly to benefit from the ongoing focus on green technologies, which will result in an insatiable demand for those commodities we are focused on at our flagship Corvette-FCI Property.”
Patriot Battery Metals is focused on the acquisition and development of mineral projects containing battery, base and precious metals.
Patriot Battery Metals (PMET) is down by 6.78 per cent and is currently trading at $0.275 per share as of 10:43 am ET.
