Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada
Corvette Property and regional infrastructure (Credit: CNW Group/Patriot Battery Metals Inc)
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSXV: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an operations update on the mineral exploration and development of its Corvette Property (the “Property”), host to the CV5 Spodumene Pegmatite. The CV5 Spodumene Pegmatite, the 8th largest lithium pegmatite in the world, is located approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure corridor, and within 50 km of the La-Grande 4 (LG4) hydroelectric dam complex.
The Company has successfully resumed its mineral exploration and development programs as of early August 2023, as the wildfires in the region gradually abate. This includes on-site community engagement, environmental baseline field work, camp construction, road access upgrades, surface exploration, and core drilling. It is important to note that the wildfires have delayed the Company’s on-site activities during the summer months, but fortunately, no equipment or property at the Property, camp site and laydown or at the Mirage Lodge have been lost.
The area around the Property, including the KM-270 exploration camp construction site, re-opened in late July. However, access by road has been limited due to ongoing wildfires over 200 km to the west and south of the Property. Road closures continue to hinder the camp installation and access road construction progress. A preliminary crew arrived on site via air transport and is utilizing equipment already at the KM-270 exploration camp to advance these construction projects. When conditions permit, mobilization of additional construction personnel and materials will accelerate these activities significantly.
The 100%-owned exploration camp at KM-270 is anticipated to be operational in November 2023 (Photo 1). This camp will significantly improve the transport efficiency on site by reducing travel time to site and helicopter dependency, as well as allow for more personnel on site to support accelerated mineral exploration and development work. Additionally, as previously announced, the Company has received its required permits to allow for the completion of the all-weather exploration access road extending from the all-weather Trans-Taiga Road to CV5 (Figure 2). With the road anticipated to be operational for November, the Company expects to be able to continue drill exploration activities into December 2023 at the Property, which is approximately six (6) weeks later than would typically be practical during that time of year.
Through the recently completed strategic investment of C$109 million from Albemarle Corporation (see news release dated July 31, 2023), the Company is well-positioned to continue to advance and accelerate its activities on site including drilling, all-weather road improvements, and completion of phase one of our exploration camp at KM-270 on the Trans-Taiga Road, directly north of the Property.
The 2023 summer-fall exploration includes both a drill and surface exploration program, which commenced at the Property in late May. A total of four (4) drill rigs are currently active on site with additional drill rigs planned to arrive on site and commence operations shortly. The multi-rig drill program is currently focused on further delineation of the CV5 and CV13 pegmatites and is anticipated to expand this fall to include drill testing at the CV8, CV12, and CV9 spodumene pegmatite clusters (Figure 1). Surface exploration has also resumed and includes prospecting and rock sampling across a large portion of the remaining 20+ km of prospective lithium pegmatite trend.
Following the lifting of the restrictions on forestry work, the baseline data collection activities at the Property resumed on August 4, 2023. Several teams of biologists are currently collecting data on chiropterans, surface water, fish and fish habitat, vegetation, and wetlands, which will be integrated into the environmental impact study. This field work is anticipated to be completed by late October 2023.
In addition to the on-site field work, Patriot representatives recently held in-person meetings with leadership and land users in the Cree Nation of Chisasibi to share information on the recently announced maiden mineral resource estimate at CV5 and the strategic investment by Albemarle Corporation. We are grateful to the community for their warm welcome, despite the devastating hardships that the wildfires have brought to the Eeyou Istchee region and its community.
Source: Company Press Release