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.