Patriot Announce Largest Lithium Pegmatite Resource in the Americas at Corvette

31 July 2023 12:32

Patriot Battery Metals have announced that its Corvette Property in Québec’s James Bay region hosts the largest lithium pegmatite resource in the Americas, with the properties CV5 spodumene pegmatite delivering a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred.

Pegmatic Potential

This MRE is built off an extensive data set provided by 56,385 metres of drilling over 163 separate drill cores, indicating that CV5 holds a total of 3,835,000 t contained lithium carbonate equivalent.

As it currently stands, the MRE gives Patriot the 8th largest lithium pegmatite resource in the world, with geological modelling interpreting that the resource is held within a single continuous pegmatite body extending over 3.7 kilometres with thicknesses up to ~130m.

What makes this even more compelling is that the MRE only includes the CV5 spodumene pegmatite and does not include any of the other known spodumene-bearing pegmatite bodies within the Project, with these six additional pegmatite bodies giving Patriot 20 km of prospective pegmatite trend to explore and potentially grow this already immense resource.

CV5 itself also contains significant room for growth as geological modelling indicates that the pegmatite body remains open at both ends along its strike length as well as to depth.

Growing Lithium Pedigree

As well as giving Patriot an exceptional opportunity, the delivery of this MRE and the revelation about its scale has further cemented Canada as the capital of North American lithium exploration, with this announcement validating the faith of the numerous international explorers such as Power Metal Resources, First Class Metals, Sultan Resources and Blaze Minerals who have staked claims in this emerging region.

This announcement must be particularly exciting for Narryer Resources who only set up shop in Canada last week with the acquisition of a five-project portfolio covering 124 square kilometres, with the explorer’s new La Moyne Project sitting just 80 km from Corvette and its largest new project Pontax East also sitting within James Bay.

Hosting America’s largest lithium pegmatite resource will be just another boon to Canada’s burgeoning lithium industry, as the country’s repeated exploration success and supportive government continue to draw the eyes of explorers and investors.

Looking Ahead

Having delivered the MRE, the Company said its top priority is to understand the extent of CV5’s mineralisation and advance it to the next stage of development planning, expansive infill drilling, step-out drilling and development studies at CV5 as well as planning to put the drill to the other known spodumene pegmatite clusters at Corvette.

“This first resource has firmly established CV5 as a Tier 1 spodumene pegmatite asset, already ranking as the largest lithium pegmatite resource in the Americas, as well as in the top 10 resources globally,” Patriot’s Vice President of Exploration Darren L Smith said.

“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. 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.”

PMT’s Australian Stock Exchange-listed share price was trading at 1.53c today (11:35 am UTC+ 8 hours).


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