Patriot Battery Metals Inc. [TSX: PMET; ASX: OTCQX: PMETF; FSE: R9GA] provided an exploration and development update for its 100%-owned Shaakichiuwaanaan Property, formerly known as Corvette, located in the Eeyou Istchee James Bay region of northern Quebec, which is accessible year-round by all-season road and is proximal to major regional powerline infrastructure.
On August 21, 2024, the company announced a robust Preliminary Economic Assessment (PEA) on the Shaakichiuwaanaan Property’s CV5 Spodumene Pegmatite, which provided a compelling economic scenario for development. In parallel with the PEA, the Company has not relented on its collection of various datasets, trade-offs and related internal studies, to support the Feasibility Study which remains on schedule for completion in the second half of 2025.
This work includes both field and desktop programs – drilling, engineering, metallurgy, channel sampling, geological mapping, environmental, social engagement, etc. – focused on the critical path needs to support the Feasibility Study and the path to potential production.
From early June through October 20, 2024, the Company had completed ~65,000 m (262 holes) at Shaakichiuwaanaan, resulting in a total of ~127,700 m (428 holes) completed in 2024, and over 234,000 m (nearly 800 holes) completed to date at the Property.
A primary objective of the drilling completed subsequent to the August 2024 Mineral Resource Estimate (MRE) at the CV5 Spodumene Pegmatite, is to target the upgrade of Inferred resources to Indicated resources, which correlates to a more robust Mineral Resource with a higher confidence classification required for a Feasibility Study.
Therefore, the summer-fall infill drill program targeted the Inferred classified MRE blocks included in the August 2024 PEA mine plan, in addition to those outlined through ongoing Project optimizations.
Approximately 52,300 metres (154 holes) were completed at CV5 as part of this program, which spanned effectively the entire 4.6-km strike length of CV5 at various depths. This drilling was completed on schedule in early October with all sample batches having now been received at the laboratory.
Given the improved geological confidence expected from the extensive 2024 infill drill program at CV5, the bulk resource development drilling is now largely complete meaning total drilling expenditure will be reduced significantly from the end of the third quarter 2025.
In addition to the CV5 infill drill program, a total of approximately 10,000 metres (33 holes) were completed at the CV13 Spodumene Pegmatite. These holes targeted an extension of the high-grade Vega Zone, discovered in the final days of the 2024 winter program. Results from the winter drill program include 51.7 m at 1.77% Li2O, including 9.7 m at 5.16% Li2O (CV24-525) and 34.4 m at 2.90% Li2O, including 21.9 m at 3.58% Li2O (CV24-470). Results from the summer-fall drill program at CV13 will be reported in a subsequent news release once all assays have been received.
The geotechnical, hydrogeological, and geomechanical campaigns have all been designed to underpin a Feasibility Study for the CV5 Spodumene Pegmatite at the Property. Therefore, a significant amount of data collection has been completed throughout 2024, with the large majority being completed during the ongoing summer-fall program.
The geotechnical campaign at the Project began in June of this year and is anticipated to be completed within the next two weeks. The campaign includes over 60 drill holes, of which a significant number of them have also been utilized to collect hydrogeological information. Geotechnical drill holes were completed over proposed infrastructure locations including the process plant, mining camp, stockpiles, waste rock and tailings management facilities, as well as the envisioned open-pit.
Additionally, the company has collected optical and acoustic televiewer (OTV-ATV) data from more than 30 drill holes. The televiewer data avoids the need for oriented core, which is the more time consuming and costly alternative approach. This dataset directly informs the geological and structural models.
The geomechanical data collected will be used to establish rock mechanics domain parameters, which will support open-pit and underground mine design at CV5 for the pending Feasibility Study.
The surface exploration program was completed in early October and included targeted geological traverses of prospective lithium pegmatite corridors along the CV Lithium Trend, channel sampling of Li-Cs-Ta (LCT) pegmatite outcrop, and geological mapping of the CV5 and CV13 spodumene pegmatites. The primary objective of the program is to inform the CV5 geological and block models in support of the Feasibility Study.
A total of 350 metres of channel sampling was completed over the CV5 (116 m), CV13 (157 m), and CV14 (77 m) spodumene pegmatites.
A total of 646 surface rock samples were collected as part of the prospecting and mapping program. The sampling covered a variety of targets over the central and western areas of the property with geological mapping focused primarily at CV5 and to a lesser extent at CV13. Results will be reported in a subsequent news release once all assays have been received.
The 2024 summer-fall field work has seen the most expansive exploration and development activity at site to date. The activities at site are expected to wrap up for the season in November, followed by final dataset validation and integration into the overarching Feasibility Study being advanced for CV5. The summary reports, models, datasets, and trade-off studies resulting from the summer-fall program will inform any remaining Feasibility level work that may be required for the 2025 winter-spring period.
The company remains on schedule for the third quarter 2025 Feasibility Study completion on the CV5 Spodumene Pegmatite.
Patriot Battery Metals Inc. is focused on advancing its district-scale 100%-owned Shaakichiuwaanaan property which is accessible year-round by all-season road and is proximal to regional powerline infrastructure.
The Shaakichiuwaanaan Mineral Resource, which includes the CV5 & CV13 spodumene pegmatites, totals 80.1 Mt at 1.44% Li2O Indicated, and 62.5 Mt at 1.31% Li2O Inferred.
