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Highlights
- 127,700 meters drilled in 2024, focusing on upgrading inferred to indicated resources at the CV5 Spodumene Pegmatite.
- Preliminary Economic Assessment (PEA) for CV5 revealed positive economic prospects for lithium development.
- Feasibility Study on track for completion by late 2025, supported by extensive drilling, engineering, and environmental studies.
Patriot Battery Metals Inc. (TSX:PMET) has provided an update on its ongoing exploration and development at the Shaakichiuwaanaan Property (formerly the Corvette Project) in Quebec. The property, strategically located in the Eeyou Istchee James Bay region, benefits from year-round road access and nearby powerline infrastructure, giving it key logistical advantages.
As the company moves toward completing a Feasibility Study, expected by the latter half of 2025, recent progress has focused on a combination of extensive drilling and comprehensive geological, environmental, and community engagement efforts.
Drilling and Exploration Highlights
Since the start of the year, Patriot has completed approximately 127,700 meters of drilling from 428 holes across its Shaakichiuwaanaan Property, with about 65,000 meters drilled between early June and October 2024 alone. The majority of this drilling has focused on upgrading inferred resources to indicated resources at the CV5 Spodumene Pegmatite, the central asset in Patriot's exploration program. This step is crucial to enhance the project's mineral resource classification, laying a stronger foundation for the upcoming Feasibility Study.
One of the primary objectives of the recent drilling efforts was to align the inferred blocks from the August 2024 Mineral Resource Estimate (MRE) with the Preliminary Economic Assessment (PEA) mine plan, released earlier in the year. Approximately 52,300 meters were drilled across 154 holes along the 4.6-kilometer strike length of CV5 during the summer-fall infill drilling program. Samples collected from this phase are now being analyzed in the laboratory, with results expected in bulk in a forthcoming announcement.
Positive Economic Outlook
The PEA, announced on August 21, 2024, demonstrated a favorable economic scenario for developing the CV5 Spodumene Pegmatite, which contains significant lithium-bearing mineralization. This assessment has given the company confidence in the property's potential and supported ongoing efforts to refine its geological model. This model will serve as the basis for a classified block model, which will be handed over to independent consultants for integration into the final Feasibility Study mine plan.
Infill and Step-Out Drilling at CV5 and CV13
In addition to the extensive infill drilling at CV5, Patriot has also undertaken step-out drilling at the CV13 Spodumene Pegmatite, which contains the high-grade Vega Zone. Discovered in late 2024, the Vega Zone has returned promising results, including 51.7 meters at 1.77% lithium oxide (Li2O) and 34.4 meters at 2.90% Li2O. Patriot drilled 10,000 meters across 33 holes at CV13 during the summer-fall season, with assays from these holes expected to be released after sample analyses are complete.
Critical Geotechnical Studies
Alongside the drilling program, Patriot has been conducting geotechnical, hydrogeological, and geomechanical studies to provide vital data for the Feasibility Study. Since June, over 60 drill holes have been completed as part of a campaign targeting infrastructure sites. These include areas designated for process plants, mining camps, stockpiles, and tailings management. Data gathered from these holes will inform decisions about construction methods, foundation types, and the bearing capacity of infrastructure sites.
Next Steps and Future Outlook
With the majority of infill drilling complete, Patriot anticipates a reduction in drilling expenses by the end of the third quarter of 2025. As results from ongoing assays are finalized and analyzed, the company plans to update stakeholders on the resource classification, mine plan optimizations, and the overall development trajectory of the project.
The Shaakichiuwaanaan Property, located within the emerging Chibougamau gold and lithium district, continues to be a promising site for lithium development, especially as global demand for lithium remains strong. With solid progress toward the Feasibility Study, Patriot Battery Metals is well-positioned to advance this key project in the months to come.
