- Patriot Battery Metals Inc. (TSXV:PMET) reached a significant milestone in its endeavours within the Eeyou Istchee James Bay region of Québec
- The company has received guidelines from the Québec government outlining the scope and nature of the impact study required to advance its Corvette Project
- The process involved collaboration with the Cree Nation government, the Québec government, and the Canadian government
- Patriot Battery Metals Inc. closed trading at C$$7.36 per share
Patriot Battery Metals Inc. (TSXV:PMET) reached a significant milestone in its endeavours within the Eeyou Istchee James Bay region of Québec.
The company, which is currently evaluating its Corvette Project as a potential hard rock spodumene mining operation, has received guidelines from the Québec government outlining the scope and nature of the impact study required for the project’s advancement.
The process involved collaboration with the evaluating committee, known as “COMEV,” which comprises members appointed by the Cree Nation government, the Québec government, and the Canadian government. This collaborative effort underscores the commitment to ensuring that the project proceeds in a manner that respects environmental concerns and addresses community interests.
The Corvette Project is highlighted by the CV5 Spodumene Pegmatite, which boasts a maiden mineral resource estimate of 109.2 million tonnes at 1.42 per cent Li2O inferred. This positions it as the largest lithium pegmatite resource in the Americas in terms of contained lithium carbonate equivalent and ranks among the top 10 largest lithium pegmatite resources globally.
Situated approximately 13.5 kilometres south of the regional Trans-Taiga Road and powerline infrastructure, and about 50 km from the La-Grande 4 hydroelectric power station, the CV5 Spodumene Pegmatite enjoys strategic proximity to essential logistical support.
As part of its ongoing operations, Patriot Battery Metals is conducting an intensive in-fill drilling program on CV-5 throughout the winter season. A regional exploration campaign is also scheduled for the summer and fall months. These activities aim to further delineate the project’s resource potential and solidify its economic viability.
An updated NI 43-101 resource estimate for the Corvette Project is anticipated for release in Q3 2024. This update will incorporate the latest findings and data gathered from the ongoing drilling and exploration efforts.
Since 2022, the company has been diligently collecting environmental baseline data at the project site. With the receipt of the newly issued guidelines, Patriot Battery Metals is poised to continue this data collection process in alignment with regulatory requirements.
The company has also committed to providing regular updates on the progress of its work programs associated with the completion of the environmental and social impact assessment (ESIA). The submission of the ESIA is projected for late 2025, reflecting the company’s dedication to thorough and responsible project development.
Patriot Battery Metals is a mineral exploration company focused on the acquisition and development of battery, base and precious metal properties. It holds interests in multiple projects across Canada and the United States.
Patriot Battery Metals Inc. (TSXV:PMET) closed trading 3.08 per cent higher at C$$7.36 per share.
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