Patriot Battery Metals Inc Stock Price, News & Analysis

Patriot Battery Metals Inc. (TSX-V: PMET) (OTCQB: PMETF) reports an update on its Corvette Property. The 2022 drill program concluded with 26,598 meters drilled across 90 holes, with results expected from the SGS lab. A fully financed winter/spring drill program is set to begin in January 2023, deploying five rigs. The company is in the final stages of its ASX listing process, requiring a small financing for compliance. Additionally, an Omnibus Equity Incentive Plan has been approved, allowing for the issuance of up to 18,282,343 performance units to align executive interests with shareholders.

Patriot Battery Metals has announced promising results from its ongoing drilling campaign at the CV5 Pegmatite, part of its Corvette Property in Quebec. High-grade lithium intercepts include 0.97% Li2O over 104.5 m and 1.42% Li2O over 61.9 m, highlighting the extensive mineralization in the area. The strike length of the CV5 Pegmatite has been extended to 2,200 m, with additional secondary pegmatite lenses identified. The company has completed approximately 23,497 m of drilling over 80 holes, and plans for an aggressive 2023 drill campaign.

Patriot Battery Metals announced the completion of a private placement of 1,507,170 charity flow-through shares at $13.27 per share, raising approximately $20 million. The funds will be allocated for Canadian exploration expenses qualifying for a 30% tax credit. CEO Blair Way highlighted this funding as vital for ongoing exploration at the Corvette project. The financing involved a commission of CAD $454,216.77 and additional broker warrants. The Company continues to explore significant lithium potential in Quebec and holds various mineral properties across North America.

Patriot Battery Metals has announced significant progress in its 2022 drill campaign at the Corvette Property in Quebec. The first drill hole at the CV13 pegmatite cluster intersected spodumene pegmatite up to 25.5 m deep, with a second hole also showing promising mineralization. The CV5 pegmatite corridor has extended its strike length to approximately 2,100 m, including the discovery of the largest spodumene crystal to date, measuring 1.8 m. Overall, the drill campaign has produced around 19,199 m over 65 holes, indicating strong lithium potential.

Patriot Battery Metals has announced the formation of a Project Steering Group (PSG) for its Corvette Project, reporting directly to the Board of Directors. The PSG includes key figures such as CEO Blair Way and lithium expert Brett Grosvenor, aiming to enhance exploration and development activities. The Corvette Project shows significant lithium potential, with drill results indicating impressive Li2O concentrations. Additionally, the company has granted Grosvenor 250,000 stock options as part of its compensation package.

Patriot Battery Metals Inc. has announced plans for a dual listing on the ASX and TSX-V after receiving in-principle approval from ASX. The firm expects to submit its listing prospectus in October 2022, with trading on ASX anticipated to begin by year-end, pending the completion of all conditions. Patriot's key asset is the Corvette Property in Quebec, noted for its lithium potential, and other assets include the Freeman Creek Gold Property in Idaho. The company emphasizes that there are no guarantees regarding the ASX listing process.

Patriot Battery Metals has expanded its land holdings in the La Grande Greenstone Belt by acquiring a 100% interest in the Pontois West Property, consisting of 31 contiguous claims totaling 1,587.2 hectares in Quebec. This acquisition brings an additional 8.3 km of lithium pegmatite trend, enhancing the company's exploration potential near its Corvette Property. The purchase involves a cash payment of $100,000 CAD and the issuance of 220,000 common shares, subject to TSX Venture Exchange approval.

Patriot Battery Metals (TSX-V: PMET, OTCQB: PMETF) announced significant lithium intercepts from its ongoing drilling campaign at the Corvette Property in Quebec. Noteworthy findings include drill hole CV22-042, which recorded 1.65% Li₂O over 159.7 m, featuring a peak of 4.12% Li₂O over 9 m. The principal pegmatite body has now been extended to at least 2,000 m. The summer program has totaled 15,497 m across 53 drill holes, with high-grade tantalum grades also featuring in recent assays. The company continues to explore potential along the CV Lithium Trend.

Patriot Battery Metals Inc. has appointed Ken Brinsden as Non-Executive Chairman, effective August 22, 2022. Brinsden, a mining engineer with 30 years of experience, previously led Pilbara Minerals, transforming it into a significant player in the lithium market. His expertise is expected to benefit Patriot, particularly in advancing the Corvette property, which shows substantial lithium potential. Brinsden has been granted 2 million stock options, highlighting the company's commitment to leveraging his leadership for future growth in the North American lithium supply chain.