Patriot Battery Metals Inc. [PMET-TSX, PMETF-OTCQB, R9GA-FSE] said it has successfully produced a marketable and on-specification battery-grade lithium hydroxide monohydrate sample using spodumene concentrate from its CV5 Pegmatite.
The CV5 Pegmatite, wholly-owned by the company as part of its Shaakichiuwaanaan property, is located in the Eeyou Istchee James Bay region of Quebec. CV5 forms part of the large majority of a consolidated mineral resource estimate of 80.1 million tonnes of 1.44 Li20 (indicated) and 62.5 million tonnes at 1.31% Li20 (inferred). It ranks as the largest lithium pegmatite resource in the Americas.
The company said the 307-gram sample was produced from spodumene concentrate grading 6.2 % Li20 and 0.6% Fe203 produced from a Dense Media Separation pilot plant using drill core samples representing the expected early mine life of the CV5.
“This marks a significant de-risking milestone as Patriot advances the CV5 through the stages of development,’’ the company said in a press release. The sample will be used to further advance and strengthen engagement with potential strategic partners and end-users, it said.
“The successful production of a battery-grade lithium hydroxide product from the cornerstone CV5 Spodumene Pegmatite marks a key de-risking step in our development strategy,’’ said Patriot Battery President and CEO Ken Brinsden.
“Not all spodumene concentrates are created equal and by demonstrating that the high-quality, low-iron spodumene concentrate produced from CV5 results in a marketable and on-spec battery-grade lithium hydroxide product, we are further validating and de-risking the project as we eventually look to capitalize on this high-value downstream product category,’’ he said.
Patriot Battery Metals has been targeting the CV Lithium Trend, an emerging spodumene pegmatite district discovered by the company in 2017. It spans more than 25 kilometres, covering the FCE West, FCE East and Corvette claim blocks. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 and CV1 Pegmatite.
A preliminary economic assessment (PEA) was announced for the CV5 Pegmatite in August, 2024. The PEA outlines the potential for a competitive and globally significant high-grade lithium project targeting up to 800,000 tonnes per annum of spodumene concentrate using a simple Dense Media Separation (DMS) only process flowsheet.
The company has recently completed a significant core sampling program to provide additional representative material for the next phase of mineral processing test work in support of the ongoing feasibility study on the CV5 Spodumene Pegmatite. This program will provide significant quantities of representative spodumene concentrate for any future downstream test programs.
On Thursday, the shares eased 0.38% or $0.01 to $2.64. They trade in a 52-week range of $10.46 and $2.29.
