Patriot Battery Metals Inc Stock Price, News & Analysis

Patriot Battery Metals Inc. is advancing its CV5 Pegmatite Project located in Quebec, with significant activities ongoing as of April 2023. Environmental baseline data collection is underway, including surveys for large mammals and winter birds. A hydrogeological program is also in progress, aimed at supporting the Project's Pre-Feasibility phase. The company has submitted a request for an all-season road, expected to be completed in H2 2023, enhancing logistics and reducing transportation costs. A camp for up to 80 personnel is being constructed, anticipated to be operational by early summer. CEO Blair Way highlighted that the pace of exploration has increased, with six drill rigs active and plans for further drilling and resource estimates throughout 2023, making it a crucial year for the company.

On April 6, 2023, Patriot Battery Metals announced the retention of Venture Liquidity Providers (VLP) for market-making services and Oakstrom Advisors for investor relations. VLP will conduct market-making through W.D. Latimer Co. Ltd., with a monthly fee of $5,000, while Oakstrom will provide communications services at $15,000 per month. Both agreements require regulatory approval from the TSX Venture Exchange. Notably, Patriot’s Corvette Property in Quebec boasts significant lithium potential, with over 70 identified lithium-bearing pegmatite outcrops. The CV5 pegmatite body has a strike length of at least 3.15 km, indicating strong exploration opportunities. The company emphasizes that both VLP and Oakstrom have no existing interests in Patriot's securities.

Patriot Battery Metals has extended the high-grade Nova Zone by 400 meters through drill holes CV23-105 to CV23-108, revealing significant lithium mineralization. Notably, CV23-105 showed 83.7 meters at 3.13% Li2O, including 19.8 meters at 5.28% Li2O. The total strike length of the Nova Zone is now 750 meters, featuring a band of over 5% Li2O extending 200 meters. With six active drilling rigs, the winter campaign focuses on the CV5 Pegmatite, aiming for an initial mineral resource estimate by Q2 2023. Ongoing core sample processing supports continued exploration, which will pause briefly for local goose harvesting.

Patriot Battery Metals has extended the CV5 spodumene pegmatite by 550 m, reaching a total trace length of 3.15 km as of March 20, 2023. This marks success in their winter drill campaign, with 52 completed holes totaling approximately 20,644 m. Six drilling rigs are operational at CV5, with assays from 37 core samples expected soon. The company is well-funded with a recent $50M financing and aims to progress towards a mineral resource estimate and Pre-Feasibility Study in Q2 2023. The CV5 project continues to show geological potential with further exploration planned.

Patriot Battery Metals (TSX-V: PMET) has successfully completed a Flow Through Raising of approximately 2.215 million shares at C$22.57 each, raising about C$50 million for its operations. The settlement is anticipated on March 23, 2023, with shares converting to around 22.15 million Chess Depositary Interests trading on the ASX. The raised funds are earmarked for exploration of the Corvette Property, which shows significant lithium potential with promising drill results, including intercepts of 156.9 m at 2.12% Li₂O. The company will pay approximately A$1.22 million in commissions to joint-lead managers.

Patriot Battery Metals Inc. (TSX-V: PMET, OTCQX: PMETF) held its Annual General Meeting on March 3, 2023, where all proposed resolutions were approved. Significant votes included the election of five directors, including CEO Blair Way, who received 99.96% support. The company emphasizes its focus on mineral properties crucial for battery, base, and precious metals, highlighting its flagship Corvette Property, known for lithium potential with drill intercepts indicating high Li₂O concentrations. Additional assets include properties in Idaho and Quebec, underscoring the company’s growth trajectory in the mining sector.

Patriot Battery Metals has released positive results from its Heavy Liquid Separation (HLS) testing on the CV5 Pegmatite, confirming the applicability of a Dense Media Separation (DMS) process. Eleven core samples showed head grades between 0.67% and 2.73% Li2O, averaging 1.48% Li2O, resulting in a spodumene concentrate grade of 5.98% Li2O at 77% recovery. The findings affirm earlier results, supporting a simple DMS-driven flowsheet without flotation. The company plans to further assess the CV13 Pegmatite for DMS viability. This successful test program enhances the prospects for a cost-effective processing strategy for lithium extraction.

Patriot Battery Metals announced positive results from its drill program at the CV13 Pegmatite Cluster in Quebec. Ten out of fourteen drill holes intersected significant lithium mineralization, with highlights including 22.6 m at 1.56% Li2O and 22.4 m at 1.28% Li2O. The CV13 Cluster, part of a larger lithium pegmatite system, displays a combined strike length of 2.3 km, with potential for extensive mineralization. The company is evaluating further drilling to support an initial mineral resource estimate scheduled for later in 2023. The drill results are bolstered by surface channel samples confirming strong lithium mineralization in the area.