PMET Resources Inc. reports developments tied to the Shaakichiuwaanaan CV5 Lithium Project and related critical-minerals work in lithium, caesium and tantalum. Company news commonly covers drill results from pegmatite zones including CV5, CV13, Vega, Rigel and Helios; feasibility and geological-model updates; and metallurgical test work for spodumene concentrate using dense media separation.
Recurring updates also include permitting and environmental assessment activity for Shaakichiuwaanaan, engagement around caesium chemical processing pathways, strategic investor share issuances and other corporate matters connected to project development and financing.
PMET Resources (PMETF) announced federal approval of C$1,215,185 in funding for its wholly owned subsidiary Innova Lithium's Shaakichiuwaanaan access road project.
The contribution comes through Natural Resources Canada's First and Last Mile Fund. The application was approved under the Critical Minerals Infrastructure Fund, which has been integrated into that fund. The project will upgrade approximately 20 kilometers of PMET's wholly owned road connecting the Trans-Taiga Road to the Shaakichiuwaanaan critical minerals project in Quebec's Eeyou Istchee James Bay region. PMET says the upgrades will improve reliability and capacity to support increased mining activity. The company is also assessing additional federal funding tools. Shaakichiuwaanaan's inclusion in the Canada Investment Summit Prospectus was announced on September 14, 2026.
PMET Resources (PMETF) has completed more than 30,000 m of drilling at its wholly owned Shaakichiuwaanaan Project in Quebec. The 2026 program covers more than 250 holes, with seven rigs active. PMET says drilling to date confirms suitable ground conditions for mine development planning.
Drilling is scheduled to finish in mid-November, with assay results expected through Q1 2027. Updated resource estimates and development studies remain on track for Q4 2026, including a CV5 lithium-tantalum feasibility study and a broader CV5-CV13 lithium-caesium-tantalum preliminary economic assessment. CV5 drilling also targets a maiden caesium resource estimate in 2027.
PMET Resources (PMETF) signed a letter of intent with the City of Matagami for planned concentrate transshipment supporting its Shaakichiuwaanaan Project.
The proposed route would move spodumene concentrate, a lithium-bearing material, by truck from the Quebec project to Matagami's existing transshipment yard. There, it would be transferred to rail cars for onward transportation to port. The letter establishes a framework for infrastructure upgrades and long-term transshipment services, including operating arrangements to support the planned logistics route.
The parties intend to finalize a definitive commercial agreement before PMET announces a Final Investment Decision for Shaakichiuwaanaan. Infrastructure contributions, service pricing and detailed operating arrangements remain subject to further negotiation and agreement.
PMET Resources (PMETF) has filed an amended technical report on the CV5 lithium-only feasibility study for its Shaakichiuwaanaan Project in Québec. The filing follows a routine review by Québec securities regulator AMF and addresses requests for clarification, formatting corrections and additional compliance disclosure.
PMET said the amendments leave the 2025 study's economic and technical conclusions unchanged. The amended report is available on SEDAR+. It is separate from the updated feasibility study incorporating tantalum economics that is currently underway, which the company intends to release in Q4 2026.
PMET Resources (PMETF) shareholders approved all resolutions at the September 29, 2026 annual general meeting, including equity awards for FY2027. All six director nominees were elected. The meeting represented 88,537,028 common shares, approximately 47.615% of shares outstanding at the August 10 record date.
Approvals included up to $500,000 each in restricted and performance share units for Kenneth Brinsden, up to $150,000 in deferred share units for Pierre Boivin, and up to $100,000 each for four other directors, plus deferred units in lieu of cash compensation. Shareholders also approved unallocated awards under the equity incentive plan and ratified earlier share issuances, including 6,992,255 charity flow-through shares, 11,484,099 placement shares and 1,365,631 over-allotment shares issued on February 19, 2026. PricewaterhouseCoopers was appointed auditor, with directors authorized to set its remuneration.
PMET Resources (PMETF) has completed a Phase 2 bench-scale caesium testwork program with Koch Technology Solutions (KTS) on pollucite concentrate from its Shaakichiuwaanaan Project.
The KTS proprietary flowsheet demonstrated high selectivity for caesium and a much-reduced impurity profile, outlining a processing pathway to produce multiple high-purity caesium chemical products from Shaakichiuwaanaan pollucite concentrate. The company said this approach could simplify conventional flowsheets and lower recovery costs.
A follow-up program is being designed as a complete bench-scale proof-of-concept, targeting gram quantities of marketable products and an initial OPEX-CAPEX assessment, using >500 kg to potentially >1 tonne of concentrate from the BerryPick Program. Shaakichiuwaanaan hosts the world’s largest pollucite-hosted caesium pegmatite Mineral Resource, with caesium and tantalum expected as co-products alongside lithium.
PMET Resources (PMETF) has been invited to present its 100%-owned Shaakichiuwaanaan critical minerals Project at the Canada Investment Summit 2026 in Toronto on September 14-15.
The Project targets one of the world’s largest lithium pegmatite mines, based on a consolidated Mineral Resource of 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), plus a pollucite-hosted caesium resource at Rigel and Vega of 0.69 Mt at 4.40% Cs2O (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred).
An October 2025 lithium-only Feasibility Study for CV5 outlined a ~20‑year mine life with up to ~800,000 tpa SC5.5 production, AISC of about US$597/t and after‑tax NPV8% of about C$1.6 billion. Strategic shareholders include Volkswagen, which invested about C$69 million for 9.9%, and Albemarle, which invested about C$109 million for 4.9%, while PowerCo SE holds a binding offtake term sheet for 100,000 tpa SC5.5 over 10 years. Targeted commercial production is 2030.
PMET Resources (PMETF) reports progress on its BerryPick program, having collected more than 2.5 tonnes of pollucite pegmatite from outcrop at the Vega Caesium Zone within the CV13 pegmatite.
The material is being obtained using very large diameter shallow core (~30 cm, <60 cm deep) on a grid, providing large fragments needed for advanced ore sorting and feasibility-level testwork while avoiding costlier blasting or PQ coring. The company aims to generate 500–1,000 kg of pollucite concentrate for development testwork and downstream caesium chemical studies, including potential future programs with Koch Technology Solutions. Ore sorting testwork is anticipated to begin in Q4 2026, with results expected in the first half of 2027. The property hosts a consolidated lithium-tantalum Mineral Resource of 108.0 Mt at 1.40% Li2O (Indicated) and 33.4 Mt at 1.33% Li2O (Inferred), plus a pollucite-hosted caesium resource of 0.69 Mt at 4.40% Cs2O (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred).
PMET Resources (OTCQX: PMETF) has signed a non-binding Letter of Intent with the Cree Nation of Chisasibi covering its 100%-owned Shaakichiuwaanaan Project in Eeyou Istchee James Bay, Quebec. The LOI establishes a structured framework for engagement, information-sharing, and discussion during an Engagement and Assessment Period, but explicitly does not constitute consent, approval, or endorsement of the project.
The parties intend to form time-limited, topic-focused working groups on areas such as training, employment, skills development, local economic development, environment, and transportation. PMET reiterates prior technical results, including a positive lithium-only Feasibility Study and a Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O, within a Consolidated Mineral Resource totalling 108.0 Mt at 1.40% Li2O (Indicated) and 33.4 Mt at 1.33% Li2O (Inferred).
Patriot Battery Metals (OTCQX: PMETF) reported bench-scale caesium extraction results from pollucite concentrate at SGS Lakefield and Koch Technology Solutions. SGS sulphuric-acid leaching of ~4 kg from a 15 kg, 12% Cs2O concentrate achieved consistently high caesium recoveries of 97–98% into solution with efficient aluminum and sulphur impurity removal and negligible Cs loss, and identified a potential rubidium by-product stream.
According to PMET, Koch Technology Solutions’ proprietary flowsheet also showed strong, selective caesium loading from synthetic and live pregnant leach solutions. The Shaakichiuwaanaan Project hosts 0.69 Mt at 4.40% Cs2O (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred) pollucite resources. Ongoing work targets gram-scale high-purity Cs-sulphate, Cs-carbonate, Cs-formate and possible Rb-carbonate in 2026, alongside a lithium–caesium–tantalum PEA and a CV5 lithium–tantalum Feasibility Study, both scheduled for Q4 2026.