Patriot Battery Metals Inc. [PMET-CSE, PMETF-OTCQB, R9GA-FSE] has released an update on the forest fire situation in Quebec and the impact on its operations there.
The company said a communication has been issued by the Ministere des Resources naturelles et des Forets advising that the restrictions on forest access at Patriot Battery’s flagship Corvette property were lifted on June 14, 2023.
Patriot said it has commenced remobilization of the field exploration operations and camp construction activities. “Conditions will be closely monitored during remobilization and operations to ensure the safety of all personnel,’’ the company said in a press release.
Patriot Battery previously said the Province of Quebec had asked exploration companies to cease field activities due to very high forest fire risk over a large part of the province. A state of emergency was declared in parts of Quebec due to the threat of wildfires on homes and businesses
Patriot Battery indicated that it would comply with the request, but would continue to process core from the drill holes completed to date at its CV5 Pegmatite project, which the company is advancing towards the pre-feasibility study stage. CV5 is part of the company’s wholly-owned Corvette – FCI gold-copper-silver-lithium project in the James Bay Region of Quebec.
“The fires in Quebec were over 80 kilometres away from the operations and did not impact the company properties,’’ Patriot said. It anticipates remobilization and resumption of all activities at the site by the end of June, 2023.
Patriot also said it remains on track for the announcement of a mineral resource estimate at CV5, by July, 2023. The estimate will be based on all drill holes completed through April, 17, 2023.
Patriot Battery Meals has been targeting the CV Lithium Trend, an emerging spodumene pegmatite district discovered by the company in 2017. It spans more than 25 kilometres across the Corvette Property, covering the FCE West, FCE East and Corvette claim blocks. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 and CV1 Pegmatite.
The company recently launched what it said will be the largest single lithium drill program undertaken in recent times in Quebec. The company was planning to complete a minimum of 20,000 metres of drilling.
The company said the primary drill area has focused on the CV5 Pegmatite, which is located approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
The objective is to extend the 2,200-metre strike length of the CV5 pegmatite system to the east and west and to continue delineation of the recent CV13 discovery, situated about 4.3 kilometres along the geological trend to the southwest. On June 15 2023, Patriot Battery shares closed at $16.75 and currently in a 52-week range of $17.69 and $1.95.
