- Patriot Battery Metals (PMT) has drilled a total of 35 drillholes for 10,100 metres since beginning its summer-fall drill program in early August at its Corvette Property in Canada
- The program’s goal is to expand the inferred MRE at Patriot’s CV5 target, which stands at 109.2Mt of lithium oxide at 1.42 per cent
- Patriot has four drill rigs active onsite and will bring a fifth on by the month’s end, before adding another two to reach seven rigs in total by mid-September
- The next three rigs will support continued extension drilling at CV5, further drilling at CV13 and allow PMT to begin maiden drill testing at its CV9 spodumene pegmatite
- PMT shares are up 3.21 per cent, trading at $1.29 at 12:10 pm AEST
Patriot Battery Metals (PMT) has completed a total of 35 drillholes spanning 10,100 metres since initiating its summer-fall drill program in early August at its Corvette Property in Quebec, Canada.
The program is designed to expand the inferred mineral resource estimate (MRE) at the CV5 target, which currently comprises 109.2 million tonnes (Mt) with a lithium oxide content of 1.42 per cent.
This MRE encompasses one of the largest lithium pegmatites globally and is situated 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure corridor.
“With our maiden mineral resource estimate at CV5 behind us pending filing of the technical report, confirming it as a tier one world-class lithium pegmatite deposit, and access re-opening to the region, we are focused on a coordinated ramp-up of our exploration and development activities on site,” PMT Vice President of Exploration Darren L. Smith said.
Patriot currently has four drill rigs actively operating onsite, with plans to introduce a fifth rig by the end of the month.
The company aims to further bolster its operations by adding two more rigs, ultimately reaching a total of seven rigs by mid-September.
The expanded drilling efforts will primarily concentrate on the CV5 and CV13 targets, utilising drill spacings of 50 to 100 metres over the western and eastern ends of these prospects.
Additionally, some rigs will be engaged in the maiden drill testing of PMT’s CV9 spodumene pegmatite.
One noteworthy drill result from the westernmost point at CV5 returned 101.5 metres with a lithium oxide content of 0.86 per cent.
PMT shares were up 3.21 per cent, trading at $1.29 at 12:10 pm AEST.