- Patriot Battery Metals (PMT) announces the largest lithium pegmatite mineral resource in the Americas
- A maiden MRE for PMT’s CV5 pegmatite returned 109.2Mt at 1.42 per cent lithium oxide
- Principle spodumene pegmatite bodies range in thickness from eight metres to more than 130 metres over a strike length of around 3.7 kilometres
- Plans are underway to explore along strike with further drilling set for 2024 and establishing MREs at additional sites
- Shares are trading down 4.97 per cent, trading at $1.53 at 11:55 am AEST
Patriot Battery Metals (PMT) has announced the largest lithium pegmatite mineral resource in the Americas through a maiden MRE for its CV5 pegmatite in the James Bay region of Canada.
The company’s CV5 pegmatite is located within its Corvette Property, marking the eighth-largest lithium pegmatite resource globally.
The MRE stood at 109.2 million tonnes (Mt) at 1.42 per cent lithium oxide.
Principal spodumene pegmatite bodies ranged in thicknesses from eight metres to more than 130 metres over a strike length of around 3.7 kilometres.
The resource also outlined the potential for growth at the project, which remains open along strike and to depth for the majority of its length.
“We could not be happier with the result of this maiden mineral resource estimate at CV5, which will be the first of multiple resource estimates for the Corvette Property over the coming years,” PMT President and CEO Blair Way said.
“This is a key milestone for the company and will underpin future economic and development studies as we look to aggressively advance this asset on the path to production.”
The company aims to explore along the strike with further drilling set for 2024 and establish MREs at additional sites.
PMT was trading down 4.97 per cent, trading at $1.53 at 11:55 am AEST.