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Patriot Battery Metals Inc. is a hard-rock lithium exploration company focusing on advancing its Corvette Property in Quebec, Canada. The company recently announced core assay results for drill holes completed in 2024 and an acquisition to expand its land position. With a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred, the CV5 Spodumene Pegmatite is central to their operations. The company's winter drill programs unearthed a new high-grade zone at the CV13 Spodumene Pegmatite, known as the Vega Zone, and core assay results indicate impressive lithium grades and continuity in the area. Patriot Battery Metals remains committed to further exploration and resource expansion throughout the Corvette Project.
Patriot Battery Metals (TSX: PMET) has discovered a significant cesium mineralization zone at its CV13 Pegmatite in the Shaakichiuwaanaan Property, Quebec. The primary enrichment zone, coinciding with the high-grade lithium Vega Zone, spans approximately 600m x 400m and remains open.
Key drilling results include:
- 10.4m at 1.30% Cs2O (including 4.0m at 2.02% Cs2O) at CV5
- 10.6m at >1.00% Cs2O at CV13
- 17.1m at >1.00% Cs2O at CV13
- 10.5m at 9.58% Cs2O at CV12
The property currently holds a Mineral Resource Estimate of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred. Pollucite, a rare cesium ore mineral, has been identified through XRD analysis and could potentially become a valuable by-product to future lithium operations.
Patriot Battery Metals (PMETF) has announced final results from its 2024 summer-fall in-fill drill program at the CV5 Spodumene Pegmatite. The program yielded multiple high-grade lithium intercepts, including 153.8m at 2.00% Li2O and 142.9m at 1.77% Li2O.
The company completed 431 holes (128,052m) in 2024, with this final batch reporting results from 98 holes (31,513m). The drilling campaign has established Shaakichiuwaanaan as the largest hard rock lithium resource in the Americas, with a Mineral Resource Estimate of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred.
All necessary drilling for the upcoming Feasibility Study and maiden Ore Reserve Estimate is now complete, with delivery targeted for Q3-2025. The CV5 Pegmatite remains open at both ends and depth along its 4.6 km strike length.
Patriot Battery Metals has initiated its 2025 winter drill program at the Shaakichiuwaanaan Property in Quebec, targeting 15,000 meters of drilling from January to April. The program focuses on three main objectives: extending the high-grade Vega Zone westward, testing the CV5 to CV13 pegmatite corridor, and completing condemnation drilling for waste rock pile locations.
The property hosts a consolidated Mineral Resource of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred. Up to four drill rigs will be deployed, with two already operational. The company has partnered with Cree-owned Forage Construction Muskw for drilling services.
Core assay results for 98 drill holes (31,513 m) from fall 2024 are pending, with results expected in the coming weeks. The company remains on track to deliver a Feasibility Study and maiden Ore Reserve Estimate in Q3 2025.
Patriot Battery Metals has closed a strategic C$69 million (US$48 million) private placement with Volkswagen Group, giving VW approximately 9.9% ownership of Patriot's issued and outstanding Common Shares. The investment proceeds will fund exploration, development, and a Feasibility Study for the Shaakichiuwaanaan Lithium Project in Quebec.
The deal includes a binding offtake agreement with VW's battery manufacturer PowerCo SE for 100,000 tonnes of spodumene concentrate annually over 10 years. An Investor Rights Agreement grants Volkswagen participation rights in future equity raises and includes a voting support covenant. Additionally, a non-binding MoU establishes a strategic relationship between PowerCo and Patriot to explore shared objectives, including potential development of a chemical conversion facility and establishing a sustainable battery supply chain.
Patriot Battery Metals (PMETF) has secured a strategic partnership with Volkswagen and PowerCo through a C$69 million investment, representing a 9.9% stake in the company at C$4.42 per share. The deal includes a 10-year binding offtake agreement with PowerCo for 100,000 tonnes of spodumene concentrate annually, representing ~25% of Stage 1 or ~12.5% of combined Stage 1 and Stage 2 production from the Shaakichiuwaanaan Lithium Project.
The subscription price represents a significant premium of 65% and 35% to the 30-day and 90-day volume weighted average trading prices. The partnership includes a strategic MoU to explore downstream opportunities, including potential chemical conversion facility development and ESG initiatives. Volkswagen will gain representation on an advisory technical committee and rights for future equity participation.
Patriot Battery Metals (TSX: PMET) announced an investor webinar hosted by CEO Ken Brinsden to discuss a new strategic partnership with Volkswagen Group and PowerCo, including equity investment and off-take agreements. The webinar, scheduled for December 18, 2024, will focus on the transaction's implications for developing the Shaakichiuwaanaan Lithium Project in Quebec.
The company's flagship project contains a significant mineral resource of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred, making it the largest lithium pegmatite resource in the Americas and 8th largest globally. The property, accessible year-round and near power infrastructure, hosts multiple untested spodumene pegmatite clusters with additional exploration potential.
Patriot Battery Metals announced significant drilling results from its CV13 Spodumene Pegmatite at the Shaakichiuwaanaan Property. Key highlights include multiple high-grade lithium intersections, notably 31.2 m at 3.35% Li2O, including 4.7 m at 5.37% Li2O, and a record-setting sample of 7.11% Li2O - the highest-grade core sample collected from the Property to date.
The drilling program successfully expanded the high-grade Vega Zone, which remains open in multiple directions and covers an area of ~0.7 km x 0.4 km. The company identified a structural corridor extending approximately 3.3 km towards the CV12 Spodumene Pegmatite, significantly enhancing the area's prospectivity for future exploration in 2025.
Patriot Battery Metals has successfully produced a 307g sample of battery-grade lithium hydroxide monohydrate from its CV5 Spodumene Pegmatite, marking a significant development milestone. The sample was produced from spodumene concentrate grading 6.2% Li2O and 0.6% Fe2O3, using drill core samples representing early mine-life material.
The CV5 Pegmatite is part of the company's Shaakichiuwaanaan Lithium Project, which has a Mineral Resource Estimate of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred. The testwork, completed at SGS Canada's Lakefield facility, demonstrated that high-quality battery-grade lithium end-product can be produced using CV5 material, with no impurities of concern present.
Patriot Battery Metals has completed its 2024 summer-fall drill program at the CV5 Spodumene Pegmatite, part of the Shaakichiuwaanaan Property. The program achieved 65,384 m drilled, bringing the 2024 total to 128,052 m. Notable high-grade intercepts include 100.5 m at 1.62% Li2O and 124.5 m at 1.25% Li2O. The company completed extensive in-fill drilling to upgrade Inferred Resources to Indicated category, along with geotechnical and hydrogeological drilling campaigns totaling 70 holes. Results for 98 drill holes at CV5 and 33 holes at CV13 are still pending. The Feasibility Study and maiden Ore Reserve Estimate remain on schedule for Q3-2025.
Patriot Battery Metals (TSX: PMET) has announced an upcoming investor webinar on November 27, 2024, hosted by CEO Ken Brinsden. The webinar will provide updates on the Shaakichiuwaanaan Lithium Project in Quebec, including details about the 2024 Summer-Fall drilling program, Pre-Feasibility Study progress, ESG initiatives, and strategic outlook for 2025. Two sessions will be held to accommodate different time zones: one at 9:00 AM AWST/12:00 PM AEDT for Asia-Pacific, and another at 10:00 AM EST for North America. The sessions will include Q&A opportunities, and a recording will be available afterward on the company's platforms.
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