Patriot Battery moves to strengthen executive team
Patriot Battery Metals Inc. [PMET-TSX, PMETF-OTCQB, R9GA-FSE] said Frederic Mercier-Langevin, an experienced Quebec-based mining executive, has agreed to join the company’s management team, effective immediately. The company said Mercier-Langevin is taking on the role of Chief Development/Operating Officer. In that role, he is expected to drive further assessment, development and value-added opportunities for Patriot’s its Shaakichiuwaanaan lithium property, which is located in the Eeyou Istchee James Bay region of Quebec.
Patriot Battery shares declined on the news, easing 6.9% or 14 cents to $1.89. The shares trade in a 52-week range of $9.76 and $1.89.
Mercier-Langevin is a mining engineer by training (including a Masters in Rock Mechanics), with over 20 years experience in open pit and underground mining environments, leading into senior and executive roles respectively with both Agnico-Eagle Mines Ltd. [AEM-TSX, AEM-NYSE] and more recently Wesdome Gold Mines Ltd. [WDO-TSX].
Mercier-Langevin’s extensive commissioning, operations and development experience, including large-scale open pit and underground mines in the North, is a key inclusion in Patriot’s executive team, the company said in a press release. He will be instrumental in the next steps of development in the Shaakichiuwaanaan project as the team progresses towards a timely and high-quality completion of the feasibility study and ESIA.
“With Frederic as a timely addition to Patriot’s executive team, we are further building capability, experience and localising the senior management team,’’ said Patriot Battery Managing Director Ken Brinsden.
The Shaakichiuwaanaan property hosts a consolidated mineral resource (MRE) estimate of 80.1 Mt at 1.44% Li20 indicated and 62.5 mt at 1.31$ Li20 inferred. The CV5 spodumene pegmatite, which forms the bulk of the MRE, is accessible year-round by all-season road and is situated 14 kilometres from a hydroelectric power line corridor. The CV13 Pegmatite is located over 3.0 kilometres along a geological trend from the CV5 Pegmatite.
With the geological and block models for the Cv5 Pegmatite now handed off to the feasibility study team, the company has further reviewed its assay dataset and identified multiple distinct areas of considerable cesium enrichment. The CV5, the CV12 pegmatites; however the two largest zones are hosted by the CV13 Pegmatite. Drilling highlights include 10.4 metres at 1.30% Cs20, including 4.0 metres at 2.02% Cs20 (CV23-117) at CV5.
Patriot Battery metals was in the news recently when has closed a previously announced $69 million private placement financing with Volkswagen Group. The German auto giant now owns a 9.9% of the issued and outstanding shares of Patriot Battery on a non-diluted basis.
Proceeds are earmarked for exploration, development and completion of a feasibility study on the company’s Shaakichiuwaanaan lithium property.
As announced on December 18, 2024, Patriot has agreed to supply 100,000 tonnes of spodumene concentrate annually over a 10-year period to Volkswagen’s wholly-owned and vertically integrated battery manufacturer PowerCo SE.