May 12, 2022
Patriot Battery Metals Inc. (CSE:PMET, Not Rated, David A. Talbot) has completed its claim transfer and become a registered title holder to a 100% interest in the Corvette property in Quebec, as expected. This prolific 200 sq. km sized property was consolidated through various acquisitions and claim staking as previously announced. The stock has taken a short breather here but is back on the road to recovery after an investor reportedly needed to make a margin call and the stock corrected. That said, while still down 21% WoW, PMET is up 10% MoM and nearly a triple QoQ. With a market cap of $152M, we believe there is further to go as its initial drill results are starting to arrive. We believe Patriot is on to a potential game-changing pegmatite lithium trend on its huge land package in a Tier 1 jurisdiction, and an area with excellent infrastructure. While it has a high grade and diversified commodity mix (potential for Li, orogenic gold, VMS, ultramafic Ni-Cu-PGE), the regional lithium potential is what is catching investor attention after initial results have returned up to 0.93% Li2O and 114 ppm Ta2O5 over 146.8m. This early-stage project is close to other large Quebec lithium deposits including James Bay, Whabouchi, Rose and Moblan, and three specific trends have been identified including a 50km long hard rock lithium trend with over 25km of combined lithium pegmatites. The other exploration trends on the property include a 25km long gold trend and 20km Maven Cu-Au-Ag trend. With Blair Way assuming the CEO role, his 30 years of management experience in construction and a wide range of resources, aided by Darren Smith, VPX, with his considerable battery and special metals experience, should keep Patriot and Corvette at the forefront of lithium exploration projects in Canada. Read more
