Patriot Battery Metals Inc. (TSXV:PMET) – Notable News

February 2, 2024

Patriot Battery Metals Inc. (TSXV:PMET, BUY, C$22.00 target, David A. Talbot) reported drill results from the 2023 program completed at the CV13 pegmatite within the Corvette property, located ~3km W-SW of the CV5 pegmatite. These holes targeted the near-surface and down-dip extension of the principal pegmatite body as well as the immediate western limb. Highlight results included: 1) 1.21% Li₂O over 26.1m (CV23-286), 2) 1.51% Li₂O over 16.4m (CV23-294), and 3) 1.33% Li₂O over 18.3m (CV23-249). The CV13 pegmatite now extends for 2.3km in strike length and remains open for expansion at both ends and at depth. It also includes a higher-grade zone of at least +200m in strike, where additional higher-grade intercepts returned 1.52% Li₂O over 15.7m including 1.99% Li₂O over 10.6m or 5.28% Li₂O over 2.5m (CV23-271). Assays remain pending for 35 holes at CV13, 54 holes at CV5, and 18 holes at CV9. Further step-out drilling along strike and at depth on the main pegmatite is anticipated this winter. We note that the CV13 spodumene pegmatite hosts a maiden MRE of 109.2Mt at 1.42% Li₂O and 160 ppm Ta₂O₅ (read note).  We see plenty of room for share price appreciation from this stock, even in this price environment, which we believe could have bottomed out, as the CV deposits are anticipated to grow considerably more. A full ten rigs should be active shortly, and we anticipate additional work to focus on advancing the metallurgy of the various pegmatites to confirm if they can all proceed with the DMS route and avoid more costly flotation. Read more

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Patriot Battery Metals Inc. – TSXV:PMET

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