Patriot Battery Metals Advances Shaakichiuwaanaan Project with Successful Drill Program
PMT (PMT) Share Update November 2024 Tuesday 26th
Patriot Battery Metals Completes Successful Drill Program at Shaakichiuwaanaan
Patriot Battery Metals Inc. has announced the completion of its 2024 summer-fall drill programs at the Shaakichiuwaanaan Property, highlighting significant progress at the CV5 Spodumene Pegmatite Deposit.
Instant Summary:
- Completion of extensive in-fill drilling at CV5 Deposit.
- Record 65,384 meters drilled during the summer-fall program.
- High-grade lithium intercepts reported, including 100.5 m at 1.62% Li2O.
- Feasibility Study and maiden Ore Reserve Estimate on track for Q3-2025.
Drill Program Completion
Patriot Battery Metals Inc. has successfully completed its 2024 summer-fall drill programs at the Shaakichiuwaanaan Property, located in the Eeyou Istchee James Bay region of Quebec. The program focused on the CV5 Spodumene Pegmatite Deposit, which is part of the company's wholly owned property.
The extensive in-fill drilling aimed to upgrade Inferred Mineral Resources to the Indicated category, supporting the ongoing Feasibility Study. A total of 65,384 meters were drilled during the summer-fall program, contributing to a calendar year total of 128,052 meters, significantly advancing the project.
High-Grade Lithium Intercepts
The drill program yielded wide, well-mineralized, and high-grade pegmatite intercepts. Notable results include 124.5 meters at 1.25% Li2O, including 16.5 meters at 2.32% Li2O, and 100.5 meters at 1.62% Li2O, including 55.5 meters at 2.01% Li2O. These results demonstrate the consistent presence of high-grade spodumene crystals along the 4.6 km mineralized pegmatite strike length.
Supporting Feasibility Study
In addition to in-fill drilling, the program included expansive geotechnical and hydrogeological drilling at CV5 and proposed infrastructure sites. These efforts are crucial for the Feasibility Study, which remains on schedule for completion in Q3-2025. The study will also include a maiden Ore Reserve Estimate for the CV5 Spodumene Pegmatite.
The successful completion of the drill program at CV5 is a significant milestone for Patriot Battery Metals. The high-grade lithium results are likely to positively impact the company's stock, as they support the project's advancement towards feasibility. The ongoing Feasibility Study and upcoming Ore Reserve Estimate are key catalysts that could further enhance investor confidence and attract interest in the company's shares.
Investor Reaction:
Analysts are likely to react positively to the high-grade lithium results and the project's progress towards feasibility. The consistent presence of high-grade spodumene crystals along the mineralized strike length is encouraging, and investors may view this as a strong indication of the project's potential viability.
Conclusion:
Investors should keep an eye on the upcoming Feasibility Study and maiden Ore Reserve Estimate, scheduled for Q3-2025. These developments will be critical in determining the project's economic viability and could significantly influence Patriot Battery Metals' market position.