Patriot Battery Metals Inc. [PMET-TSX, PMETF-OTCQB, R9GA-FSE] has announced the discovery of a large Cesium Zone at its Shaakichiuwaanaan lithium property, which is located in the Eeyou Istchee James Bay region of Quebec.
Patriot Battery shares advanced on the news, rising 4.9% or 12 cents to $2.57. The shares trade in a 52-week range of $9.76 and $2.29.
Cesium is a specialty metal and is listed as a critical and strategic metal by Canada, the province of Quebec, Japan and the United States. Due to its high density, low toxicity, biodegradable nature, and recoverability, it is used to support the completion of oil and gas wells at high pressure and temperature. Cesium is also used in atomic clocks, GPS, aircraft guidance and telecommunications.
A review of the company’s drill core dataset has identified multiple areas of considerable cesium enrichment (>1.0% Cs20).
It said pollucite, the principal and preferred ore mineral for cesium, has been identified by XRD mineralogical analysis at the CV13 Pegmatite and is interpreted to be the principal source of cesium enrichment a the property. A more focused mineralogical program is underway.
“This extremely rare Cesium mineral has the potential to become a meaningful by-product to future lithium operations,’’ the company said in a press releses.
The Shaakichiuwaanaan property hosts a consolidated mineral resource (MRE) estimate of 80.1 Mt at 1.44% Li20 indicated and 62.5 mt at 1.31$ Li20 inferred. The CV5 spodumene pegmatite, which forms the bulk of the MRE, is accessible year-round by all-season road and is situated 14 kilometres from a hydroelectric power line corridor. The CV13 Pegmatite is located over 3.0 kilometres along a geological trend from the CV5 Pegmatite.
With the geological and block models for the Cv5 Pegmatite now handed off to the feasibility study team, the company has further reviewed its assay dataset and identified multiple distinct areas of considerable cesium enrichment. The CV5, the CV12 pegmatites; however the two largest zones are hosted by the CV13 Pegmatite. Drilling highlights include 10.4 metres at 1.30% Cs20, including 4.0 metres at 2.02% Cs20 (CV23-117) at CV5.
“The identification of multiple zones of extensive cesium mineralization in drill hole at Shaakichiuwaanaan is very significant,’’ said Darren Smith, Executive Vice-President of Exploration at Patriot Battery, “Although the focus for the company is lithium pegmatite and advancing CV5 to production, there is a clear opportunity to potentially delineate a pollucite (cesium) zone fo significant grade,’’ he said. “Moreover, given the scarcity and value of cesium, there is a strong potential to further enhance stakeholder value.’’
Patriot Battery metals was in the news recently when has closed a previously announced $69 million private placement financing with Volkswagen Group. The German auto giant now owns a 9.9% of the issued and outstanding shares of Patriot Battery on a non-diluted basis.
Proceeds are earmarked for exploration, development and completion of a feasibility study on the company’s Shaakichiuwaanaan lithium property.
As announced on December 18, 2024, Patriot has agreed to supply 100,000 tonnes of spodumene concentrate annually over a 10-year period to Volkswagen’s wholly-owned and vertically integrated battery manufacturer PowerCo SE.
