Patriot Battery Metals Advances Feasibility Study at Shaakichiuwaanaan Property

Patriot Battery Metals has announced significant progress on its feasibility study for the Shaakichiuwaanaan Property, located in Quebec's Eeyou Istchee James Bay region. The study is on track for completion by September 2025, with a focus on optimizing lithium extraction processes and environmental assessments.

Key Takeaways

• Feasibility Study (FS) is progressing as planned, targeting completion in September 2025.
• Updated block model for the CV5 Pegmatite has been finalized, enhancing resource estimates.
• The FS will support the Environmental and Social Impact Assessment (ESIA) submission, also due in September 2025.
• The project benefits from a strong cash position following a strategic investment from Volkswagen and PowerCo.

Overview of the Shaakichiuwaanaan Property

The Shaakichiuwaanaan Property is a key asset for Patriot Battery Metals, boasting a consolidated Mineral Resource Estimate of 80.1 million tonnes at 1.44% Li2O indicated and 62.5 million tonnes at 1.31% Li2O inferred. The property is accessible year-round and is strategically located near major hydroelectric power infrastructure.

Feasibility Study Progress

The feasibility study commenced in September 2024 and is being conducted by G Mining Services, which will integrate various engineering and environmental assessments. The study aims to closely follow the scope outlined in a previous Preliminary Economic Assessment (PEA) completed in August 2024. The main components of the FS include:

1. Mine Design: Focused on both open-pit and underground operations, particularly targeting the high-grade Nova Zone.
2. Processing Methodology: Utilizing Dense Media Separation (DMS) only, which simplifies operations and reduces costs compared to traditional flotation methods.
3. Environmental Studies: Ongoing assessments to ensure compliance with regulatory requirements and to support the ESIA submission.

Strategic Partnerships and Financial Position

Patriot Battery Metals has strengthened its financial position through a strategic investment from Volkswagen and PowerCo, which not only provides capital but also secures an offtake agreement for lithium products. This partnership is expected to accelerate project development and enhance the company's competitive edge in the North American lithium market.

Future Outlook

With the feasibility study on track and a robust resource base, Patriot Battery Metals is poised to become a significant player in the lithium supply chain. The company is committed to advancing the Shaakichiuwaanaan Property efficiently, ensuring it meets the growing demand for lithium in electric vehicle and renewable energy sectors. The completion of the FS and ESIA in September 2025 will be critical milestones for the project, paving the way for future development phases.

Sources

• Patriot Battery Metals Provides Progress Update on the Feasibility Study at the Shaakichiuwaanaan Property - Junior Mining Network, Junior Mining Network.