Patriot Battery Metals (ASX:PMT) has announced a 30% increase in the mineral resource estimate (MRE) for its CV5 and CV13 spodumene pegmatites, located within the Shaakichiuwaanaan Lithium Project in Québec, Canada. The updated resource now totals 108 million tonnes @ 1.4% lithium oxide in the indicated category and 33.3 million tonnes @ 1.33% lithium oxide in the inferred category. This translates to 3.75 million tonnes of lithium carbonate equivalent indicated and 1.09 million tonnes inferred. Patriot Battery Metals reports that the mineral resource now ranks as the “largest lithium pegmatite indicated mineral resource in the Americas”.
According to Vice President of Exploration Darren Smith, the results exceeded expectations, particularly with the concentration of resources within a single pegmatite dyke, including the high-grade Nova Zone. CEO Ken Brinsden emphasized that this MRE update marks a significant milestone as the company progresses towards completing its Feasibility Study on CV5, slated for Q3 2025. With ongoing exploration drilling at CV13 focusing on the Vega and Rigel zones, an additional MRE update is anticipated later this year, potentially including caesium. The company aims to provide long-term spodumene supply to the North American and European markets.
