My speculative pick this year is Patriot Battery Metals (PMET.CA) The lithium sector has spent the past seven to nine months consolidating lower. That has provided an opportunity to initiate or add to what I believe will be the single most significant discovery in years – and maybe ever, advises Gerardo del Real, editor of Junior Resource Monthly.
PMET is a hard-rock lithium exploration company focused on advancing its district-scale, 100%-owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada, and proximal to regional road and powerline infrastructure.
The Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden inferred mineral resource estimate of 109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 (at a cut-off of 0.40% Li2O). It ranks as the largest lithium pegmatite resource in the Americas based on contained LCE, and one of the top 10 largest lithium pegmatite resources in the world.
Additionally, the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of prospective trend that remain to be assessed. There is growing speculation that the CV’s may be all connected across a 50km trend.
The company is fully funded with C$133M of cash and a strategic investment from Albemarle to execute exploration and technical studies. It also boasts a proven management team with a track record of delivering mining projects globally.
There are over a hundred assays pending that will be reported in early 2024. The 2024 exploration program is planned to ramp up to ten drill rigs as well as an expansion to the core shack and processing area to handle the larger volumes of core expected and minimize future backlog.
The objectives of the 2024 winter drill program will be multi-pronged and focus on:
1.) Infill drilling of the CV5 Pegmatite to support an upgrade in resource confidence from the inferred category to the indicated category
2.) Continued delineation of the CV13 Pegmatite, and
3.) Potential continued drill exploration at the CV9 Pegmatite and the approximate 80 m wide blowout of the dyke at shallow depth.
The company is also a top takeout target.
