PMET Resources Stock Price, News & Analysis

Patriot Battery Metals Inc. (TSX: PMET) has renamed its Corvette Project to the Shaakichiuwaanaan Project, reflecting its commitment to the Cree Nation of Chisasibi. The name, meaning 'climbing a hill or mountain', was proposed by Chisasibi elders. A new logo incorporating Cree symbols has been developed. Over 200 communication activities have occurred with the Chisasibi community since 2022. The project has employed more than 105 First Nations workers in 2024, contributing to various site activities. Environmental data collection is conducted by a Cree enterprise. Patriot will open an office in Chisasibi in August 2024 and remains on schedule for a Mineral Resource Estimate update in August 2024.

Patriot Battery Metals Inc. (TSX: PMET, ASX: PMT, OTCQX: PMETF) has filed a final short form base shelf prospectus with Canadian securities regulators. This filing, effective for 25 months, allows the company to offer up to C$250 million in various securities, including common shares, preferred shares, debt securities, warrants, subscription receipts, and units. The move aims to provide Patriot with greater financial flexibility and align share issuance processes between TSX and ASX.

Key points:

• No immediate plans to issue securities under this prospectus
• Any future offerings will be detailed in a shelf prospectus supplement
• Specific terms and use of proceeds will be set forth in future filings
• Shareholder approval may be required depending on offer structure and size

On July 11, 2024, Patriot Battery Metals announced the filing of a preliminary base shelf prospectus with Canadian regulatory authorities. This filing aims to streamline the share issuance process across the TSX and ASX. The company has a solid financial position, bolstered by a C$75 million financing completed in May, supporting its exploration and development plans. Despite having no immediate plans to issue securities, the shelf prospectus allows the company to offer up to C$250 million in various securities over a 25-month period. This move provides financial flexibility for future projects.

Patriot Battery Metals Inc. has announced significant expansion in the Vega Zone at the CV13 Spodumene Pegmatite on its Corvette Property. The winter drill program revealed multiple high-grade lithium intercepts, including 9.7 m at 5.16% Li2O and 35.3 m at 2.40% Li2O. Key highlights include:

- 51.7 m at 1.77% Li2O (CV24-525).

- 35.3 m at 2.40% Li2O (CV24-520).

- 34.8 m at 1.87% Li2O (CV24-524).

- 41.5 m at 2.00% Li2O (CV24-510).

The Vega Zone remains open in several directions and is part of a broader mineralized pegmatite system spanning 380 m by 220 m. A follow-up summer-fall drill program is planned to further delineate the zone. An updated Mineral Resource Estimate for the Corvette Project is expected in August 2024. The project aims to support a Feasibility Study by 2025, targeting lithium production from the high-grade zones.

Patriot Battery Metals has announced the retirement of Blair Way from his position as Chief Operating Officer, effective June 30, 2024. He will remain on the board as a Non-Executive Director and provide advisory services during the transition period. Patriot's President and CEO, Ken Brinsden, acknowledged Way's pivotal role in the company's growth, particularly highlighting the Corvette lithium discovery and expansion of the company's market cap from under $10 million in late 2020 to a significant player in the lithium industry. The company also announced new appointments: John Drapack as Director of Studies and Cathryn Moffett as Director of Environment. Drapack will focus on the upcoming PEA/Scoping Study and Feasibility Study, while Moffett will oversee the Environmental and Social Impact Assessments.

Patriot Battery Metals has launched its 2024 Summer-Fall exploration program at the Corvette Property in Quebec. The program includes extensive drilling to expand the Vega Zone and infill drilling at the CV5 Pegmatite. Two rigs are currently drilling at CV13, with additional rigs to join in July for further testing. The initiative also includes geotechnical and hydrogeological drilling to support feasibility studies, aiming to update Mineral Resource Estimates (MRE) by August 2024. A new all-season road and expanded exploration camp enhance operational efficiency and cost-effectiveness. Environmental baseline data collection continues in partnership with First Nations, supporting the Environmental and Social Impact Assessment (ESIA) due in September 2025.

Patriot Battery Metals Inc. has announced final assay results from its 2024 winter drill program at the CV5 Spodumene Pegmatite on the Corvette Property in Quebec. Highlights include substantial lithium mineralization, such as 124.9 meters at 1.72% Li2O and 35.6 meters at 3.78% Li2O. The program aimed to upgrade the confidence of the Mineral Resource Estimate (MRE) from Inferred to Indicated, targeting a Q3 2024 update. The final batch of core assays showed consistent high-grade lithium intersections over significant intervals. The Corvette Property, covering various pegmatite clusters, remains a promising site for lithium exploration, with plans for a Preliminary Economic Assessment in September 2024. The company is confident in achieving meaningful resource conversion in its pending MRE update.

Patriot Battery Metals announced significant drill results from the CV13 Spodumene Pegmatite's high-grade Vega Zone at its Corvette Property in Quebec.

Key highlights include:

• 33.4m at 2.40% Li2O, including 11.1m at 4.33% Li2O, and 17.6m at 1.89% Li2O
• 43.2m at 1.10% Li2O, including 12.9m at 3.06% Li2O
• The highest individual core sample assay reported to date at Corvette: 1.7m at 7.01% Li2O

The Vega Zone is open in multiple directions, and additional results from 83 holes are pending.

The CV13 Spodumene Pegmatite extends over a 2.3 km strike length and remains open at both ends and depth.

An updated MRE for the Corvette Project, incorporating drilling through April 2024, is scheduled for Q3 2024.

Patriot Battery Metals announced strong lithium mineralization results from infill drilling at the CV5 Spodumene Pegmatite on their Corvette Property in Quebec. Highlights include 122.5 m at 1.42% Li2O, 71.4 m at 1.57% Li2O, 68.7 m at 1.56% Li2O, and 74.9 m at 1.28% Li2O. The 2024 winter drill program aimed to upgrade the mineral resource confidence from inferred to indicated, with results to be included in an updated Q3 2024 resource estimate. Multiple high-grade zones at CV13 remain to be reported. The Corvette Property hosts 109.2 Mt at 1.42% Li2O inferred, positioning it among the largest lithium pegmatite resources in the Americas.