Patriot Battery Metals files Shaakichiuwaanaan PEA report, Quebec
Patriot Battery Metals Inc. [TSX-PMET; OTCQX-PMETF; FSE-R9GA; ASX-PMT] has filed a NI 43-101 preliminary economic assessment (PEA) technical report for its Shaakichiuwaanaan project, Quebec.
The technical report supports the news release dated August 21, 2024 announcing the results of the PEA, titled, “PEA Highlights Shaakichiuwaanaan Project as a Potential North American Lithium Raw Materials Supply Base,” as well as the news release dated August 5, 2024, announcing the results of the mineral resource estimate, titled, “Significant Mineral Resource Upgrade at Shaakichiuwaanaan Lithium Project to Underpin Impending PEA.” These releases are available on the company’s website.
Patriot Battery is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan property (formerly known as Corvette), located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and is proximal to regional power line infrastructure.
The Shaakichiuwaanaan mineral resource, which includes the CV5 and CV13 spodumene pegmatites, totals 80.1 million tonnes at 1.44% Li2O indicated and 62.5 million tonnes at 1.31% Li2O inferred and ranks as the largest lithium pegmatite resource in the Americas and the eight-largest lithium pegmatite resource in the world. Additionally, the Shaakichiuwaanaan property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as significant areas of prospective trend that remain to be assessed.
The Shaakichiuwaanaan (CV5 and CV13) mineral resource estimate (80.1 million tonnes at 1.44% Li2O and 163 parts per million (ppm) Ta2O5 indicated, and 62.5 million tonnes at 1.31% Li2O and 147 ppm Ta2O5 ppm inferred) is reported at a cut-off grade of 0.40% Li2O (open pit), 0.60% Li2O (underground CV5) and 0.80% Li2O (underground CV13) with an effective date of August 21, 2024 (through drill hole CV24-526).