Eighth largest globally - Patriot Battery Metals releases maiden resource
Patriot Battery Metals (TSX-V: PMET) released a maiden resource for its CV5 stating that the project is largest lithium pegmatite mineral resource in the Americas and the eighth largest globally.
CV5 has 109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred, (0.40% Li2O cut-off grade) based on 163 core holes totalling 56,385 m.
The geological model interprets a single, continuous, principal pegmatite body ranging in true thickness from ~8 m to upwards of ~130 m, extending over a strike length of 3.7 km (drill hole to drill hole), and which is flanked by multiple subordinate lenses.
Vice President of Exploration Darren L. Smith said there is potential to expand.
“There remains significant potential for growth, with the resource open at both ends and to depth along a large portion of its length providing a clear path forward for further resource expansion," said Smith. "Further, there are multiple known spodumene pegmatite clusters yet to be drill tested at the Property and more than 20 km of prospective trend yet to be explored. In the case of CV13, the 2022 and 2023 drill programs are anticipated to underpin a maiden mineral resource estimate in 2024 at that spodumene pegmatite cluster. We believe we have only just begun to demonstrate the scale of the lithium mineralized pegmatite system at the Corvette Property".
Patriot Battery Metals traded down 5% to $14.49 a share.