Patriot Battery Metals (TSX:PMET) has issued an update on its ongoing exploration and development activities at its Shaakichiuwaanaan Property in Quebec, formerly known as the Corvette Project. Located in the Eeyou Istchee James Bay region, this site benefits from year-round road access and nearby powerline infrastructure, key logistical advantages for the project’s development. The company, listed on multiple exchanges, has made progress with its exploration efforts, emphasizing its drive to meet the schedule set for its Feasibility Study, anticipated to be completed by the latter half of 2025.

Patriot announced a Preliminary Economic Assessment (PEA) for the property on August 21, 2024. This assessment highlighted a positive economic scenario for developing the CV5 Spodumene Pegmatite, which hosts lithium-bearing mineralization. Concurrently, the company has pursued extensive data collection, analyzing options and conducting studies to support the project’s Feasibility Study. This work has included field and desktop programs, covering drilling, engineering, metallurgy, channel sampling, geological mapping, environmental assessments, and community engagement.

Between early June and October 20, 2024, Patriot completed approximately 65,000 meters of drilling across 262 holes at Shaakichiuwaanaan. This brings the total drilled in 2024 to about 127,700 meters from 428 holes, with over 234,000 meters drilled to date at the property. The primary aim of the recent drilling has been to upgrade inferred resources to indicated resources at the CV5 Spodumene Pegmatite, which would enhance the mineral resource classification and provide a firmer foundation for the Feasibility Study.

As part of its summer-fall infill drill program, Patriot targeted inferred blocks from the August 2024 Mineral Resource Estimate (MRE) to align with the mine plan in the PEA and ongoing project optimizations. In total, the company completed around 52,300 meters across 154 holes along the 4.6-kilometer strike length of CV5. Drilling concluded in early October, with all samples now at the laboratory for assay. Results will be compiled and released in bulk in an upcoming announcement.

As the infill drilling data becomes available, the company continues to refine the geological model for CV5. This model will play a central role in constructing a classified block model, which will then be handed over to independent engineering consultants for integration into the final Feasibility Study mine plan. With significant infill drilling now complete, Patriot expects to reduce drilling expenses significantly from the end of the third quarter of 2025.

Alongside infill drilling at CV5, Patriot conducted step-out drilling at the CV13 Spodumene Pegmatite. This area holds the high-grade Vega Zone, which the company discovered in late 2024. Approximately 10,000 meters of drilling across 33 holes targeted this zone. Results from the winter drill program included 51.7 meters at 1.77% Li2O, with sections showing grades as high as 5.16% Li2O, and another interval showing 34.4 meters at 2.90% Li2O. Assays from the summer-fall drilling program at CV13 will be released after all sample analyses are complete.

Patriot’s exploration program also covers critical studies on geotechnical, hydrogeological, and geomechanical aspects. These studies aim to provide essential data for the CV5 Spodumene Pegmatite Feasibility Study. Much of the data collection in these areas has taken place during the summer-fall season, with the geotechnical campaign expected to conclude in the coming weeks.

Starting in June, the geotechnical campaign has involved over 60 drill holes, several of which are also being used to gather hydrogeological data. These drill holes focus on proposed infrastructure sites, including areas designated for a process plant, mining camp, stockpiles, waste rock, tailings management, and an open-pit location. Each hole has been analyzed for overburden and bedrock profiles, and samples were collected for granulometry and other detailed analyses. The data gathered will support decisions about bearing capacity, foundation types, and construction methods for these infrastructure sites.

Patriot Battery Metals’ progress at Shaakichiuwaanaan continues to advance the project toward feasibility, while resource classification and infrastructure planning receive in-depth attention. As results from drilling and assays are finalized, Patriot aims to share further findings to update stakeholders on the development trajectory of this resource project.

Highlights from the results are as follows:

• 2024 drill campaign nearly complete having drilled ~127,700 m (428 holes) at Shaakichiuwaanaan since January.
• Results for more than 65,000 m (262 holes) remain to be reported pending final assays from the summer-fall program.
• The 2024 infill drill campaign at the CV5 Spodumene Pegmatite further supports conversion of Inferred resources to Indicated resources, underpinning the Feasibility Study on schedule for the third quarter 2025.
• Updated Mineral Resource Statement targeted for March/April 2025.
• Results for approximately 10,000 m (33 holes) of follow-up drilling at the CV13 Spodumene Pegmatite’s high-grade Vega Zone remain to be reported pending final assays.
• Geotechnical, hydrogeological, and geomechanical drilling to support the Feasibility Study anticipated to be finished within two weeks, completing the bulk of the 2024 calendar year exploration spend.
  • Includes monitoring well installation and several long-duration pump tests.
• Various trade-offs and development studies underway in support of the Feasibility Study.
• 2024 surface exploration complete, which included channel sampling, geological mapping, and prospecting of the broader CV Lithium Trend – results to be presented in a subsequent news release.
• Environmental field programs have progressed to plan and a summary will be presented in a subsequent news release.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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