Patriot Battery Metals (Canadian: PMET)(OTC: RGDCF) is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base, and precious metals, explains Gerardo Del Real, small cap mining specialist and editor of Junior Resource Monthly.
It’s also on to what I believe is a significant lithium discovery in Quebec. Its primary asset is the Corvette-FCI Property in Quebec, which hosts numerous occurrences of copper, lithium, and high-grade gold. In addition, the company holds several other properties that are prospective for lithium, copper, and gold.
Management
The company is led by CEO Adrain Lamoureux and President Blair Way, who I’ve known for over a decade. Blair has over 30 years of management experience within the resources and construction industry throughout Australasia, Canada, the United States, and Europe.
He has experience in a wide range of commodities including gold, copper, nickel, zinc, magnesium, graphite, cobalt, and lithium.
Vice President of Exploration Darren Smith and CFO Dusan Berka join an experienced management team with years of success in the resource and venture capital markets.
Share Structure
The company currently has 34.1 million shares outstanding and just over 67 million fully diluted. Shares are currently trading at C$0.46/US$0.36, giving Patriot Battery Metals a paltry market cap of just C$15.6 million/US$12.2 million and C$30.8million/US$24 million fully diluted.
Blair and the team didn’t sign on to run a C$20-30 million company and I suspect that the company will soon trade at many multiples of today’s share price. Many multiples.
Flagship
Patriot’s flagship is the Corvette-FCI Property in Quebec, which hosts numerous occurrences of copper, lithium, and high-grade gold.
The Corvette-FCI Property consists of 172 wholly-owned claims (Corvette) and a further 111 claims (FCI East and FCI West) held under Option Agreement from O3 Mining Inc. for up to a 75% interest, for a combined total of 14,496 hectares forming one contiguous claim block.
In addition to the flagship, Patriot also owns a portfolio of very prospective properties that include the Freeman Creek gold property in Idaho, which has seen only limited work.
Discovery
The combination of metals present, the excellent jurisdiction, and tiny market cap were all appealing qualities.
The fact that the money was going into a drill program to test for copper-gold and lithium is why I helped finance the company. But the news on November 29, 2021, is why I have selected this as our Top Pick for speculators.
On the very first hole, Patriot hit 0.93% Li2O and 114 ppm Ta2O5 over 146.8 m (from 26.0 to 172.8 m). Blair Way, company President and Director, comments: “We are thrilled by these assay results from our first drill hole at the CV5 Pegmatite. The results have greatly exceeded our expectations and confirm we have identified a lithium pegmatite of considerable size and grade potential.”
It’s only one hole but there are likely at least 20 such pegmatites on the property. Overall, there is a lot of runway and a ton of potential in a red hot sector for 2022.
