Patriot Battery Metals (TSX: PMET) has upgraded the resource estimate for its flagship Shaakichiuwaanaan Lithium Project in Quebec, which was formerly known as the Corvette project. The estimate upgrade is part of a preliminary economic assessment that is currently in the process of being completed.
The revised estimate, which only incorporates the CV5 and CV13 pegmatites at the project, consists of 80.13 million tonnes of 1.44% Li2O on an indicated basis, amounting to 2.85 million tonnes of contained LCE, and a further 62.47 million tonnes of 1.31% Li2O on an inferred basis, which amounts to 2.03 million tonnes of contained LCE.
The resource estimate, which covers 6.9 kilometres of strike length, is said to be the largest lithium pegmatite mineral resource in the Americas, and the 8th largest globally. Both the CV5 and CV13 pegmatites meanwhile are said to remain open along strike at both ends and at depth.
“This is a significant update to our Mineral Resource Estimate at Shaakichiuwaanaan, which now includes both the CV5 and CV13 spodumene pegmatites as well as a significant amount of resources now classified as Indicated. This resource update objectively reaffirms the Tier 1 nature of the spodumene pegmatites that define the Shaakichiuwaanaan Project,” commented Darren L. Smith, VP of Exploration for Patriot.
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The associated PEA is currently slated to be released by the end of the September quarter, while the company has indicated a feasibility study is scheduled to be completed in Q3 2025.
In a separate release this morning, the company indicated that it has identified a significant exploration target that contains the potential for additional tonnage at the property. The target is estimated to contain 146 to 231 million tonnes at 1.0 to 1.5% Li2O, however the estimate is conceptual in nature and is based on the CV Lithium Trend.
Patriot Battery Metals last traded at $4.12 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
