April 14, 2023
Patriot Battery Metals Inc. (TSXV:PMET, BUY, C$18.30 target, David A. Talbot) provided an update on its development of the CV5 pegmatite at its 100%-owned Corvette property, located in the James Bay region of Quebec. These mandates are part of a broader work program including desktop and site environmental, hydrogeological, geotechnical, geomechanical, social, and various other disciplines, all of which are expected to help feed into a Pre-Feasibility Study (PFS). Environmental baseline data collection has continued, including a large mammal survey and winter bird survey – which should feed into an Environmental and Social Impact Assessment (ESIA). In addition to the company’s ongoing drilling (read here and here), a hydrogeological drill program, comprised of 12 total NQ-size holes is well-advanced at CV5 to collect groundwater data in the envisioned pit area. Six HQ-sized drill holes are also due to be completed for the installation of monitoring wells to evaluate groundwater conditions. The data collected from several tests at these drill hole sites would then be used for the envisioned open pit at CV5. A formal request authorization for an all-season road, which has been designed to closely follow that of the current winter road, has been submitted as well. Authorization is expected in the early summer with construction throughout H2/23. Other ongoing activities include a concentrate transportation study, geochemical characterization of pegmatite and non-pegmatite rock types, in addition to well wetland mapping, and waste rock/tailings site selection. Planning is also underway for summer-fall field and desktop activities including a phase 2 hydrogeological program, geotechnical drilling and sampling, infrastructure site selection, condemnation drilling, hydrogeology surveys, and other environmental baseline surveys. Patriot is expected to provide further updates on ongoing activities and studies related to the ongoing PFS as work continues. Read more
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Patriot Battery Metals Inc. – TSXV:PMET
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