Investors of Patriot Battery Metals (TSXV: PMET) will have to wait a little longer for drill results from its ongoing exploration program. The firm last night revealed that it doesn’t intend to release any assay results until after the filing of its 43-101 technical report related to its mineral resource estimate.
That report is slated to be released in the first half of September,
Despite the delayed results, the company is moving full speed ahead with exploration at its flagship Corvette property. To date, 35 holes amounting to 10,100 metres in aggregate are reported to have been completed to date.
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Four rigs are currently active at site, two of which are focused on the westward extension of the CV5 pegmatite, while one, which is barge mounted, is focused on the eastern portion, and the fourth is focused on the CV13 pegmatite. Three additional drills are slated to be active on-site by mid-September, including one-barge mounted unit to test areas of CV5 that are difficult to otherwise access, while the other units will be focused on CV13 and initial drill testing of CV9.
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“With our maiden mineral resource estimate at CV5 behind us pending filing of the technical report, confirming it as a Tier 1 world class lithium pegmatite deposit, and access re-opening to the region, we are focused on a coordinated ramp-up of our exploration and development activities on site,” commented VP of Exploration Darren Smith.
Patriot Battery Metals last traded at $10.62 on the TSX Venture.
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.
