- On 24 January 2023, mineral explorer Patriot Battery Metals Inc (ASX:PMT) traded up by nearly 13%.
- The company appointed Natacha Garoute as CFO effective 24 January 2023.
- Recently, PMT drilled the highest grade lithium drill intercept to date at the CV5 Pegmatite, Quebec, Canada.
Patriot Battery Metals Inc. (ASX:PMT) shares traded up by 12.9% on 24 January 2023. The share price was AU$1.39, with a market capitalisation of AU$247.66 million. The trading volume was over 5 million. Patriot Battery Metals got listed on the ASX in December 2022.
The upward stock momentum was noticed after the company announced that it has appointed a new CFO to its Executive Management Team.
Who is PMT’s new CFO?
The mineral exploration company has appointed Natacha Garoute, LLB, CPA to the position of CFO effective 24 January 2023. Dusan Berka has stepped down from the position after serving for the last 10 years, but he will continue to remain a part of the board of directors.
Natacha Garoute brings along a broad experience with both TSX and ASX listed companies. She has over two decades’ worth of experience in publicly traded and mining companies with global exposure. Her most recent stint was with Champion Iron Ore (ASX 200 & TSX) as CFO.
Image source- George Milton | Pexels
What’s new at PMT?
Patriot Battery Metals recently revealed core assay results for fourteen additional drill holes from its 2022 drill campaign at its wholly owned Corvette Property-
- Drill hole CV22-083 returned the strongest lithium mineralised interval to date at the CV5 Pegmatite with 156.9 m at 2.12% Li2O, incl. 25 m at 5.04% Li2O or 5 m at 6.36% Li2
- It continues to extend mineralisation eastwardly at the CV5 Pegmatite.
- The spodumene mineralisation at the CV5 Pegmatite has been traced over a strike length of at least 2,200 m via the 2021 & 2022 drill programs.
- The overall pegmatite has been defined by several drill holes, incl. CV22-017, 042, 066, 083 over a strike length of at least 250 m.
What’s in store?
Vice President of Exploration, Darren Smith, deems the lithium mineralisation in drill hole CV22-083 to be of “impressive nature”. Moving east, the company is defining a significant high-grade zone at a coarse drill spacing of 50 to 100 m.
Darren Smith further adds that the winter drill program would continue to investigate and delineate this area. In the first half of 2023, an initial mineral resource estimate is planned.
Core assay results for twenty-four drill holes are yet to be reported (fourteen at the CV13 Pegmatite cluster and ten at the CV5 Pegmatite cluster).
What is Patriot Battery Metals engaged in?
The company is focused on the acquisition and development of mineral properties containing battery, base, and precious metals. Its flagship asset is the 100% owned Corvette Property, proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts substantial lithium potential.
PMT also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective gold prospects- the Gold Dyke Prospect and the Carmen Creek Prospect. Other assets include the Hidden Lake Lithium Property, NWT and the Pontax Lithium-Gold Property, QC.