VANCOUVER, BC, Sept. 12,
2024 /CNW/ - September 13,
2024 – SYDNEY,
Australia
Patriot Battery Metals Inc. ("Patriot" or the
"Company") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE:
R9GA), is pleased to announce that it has filed a National
Instrument 43-101 Preliminary Economic Assessment Technical Report
for its Shaakichiuwaanaan Project.
The report titled "NI 43-101 Technical Report, Preliminary
Economic Assessment for the Shaakichiuwaanaan Project, James Bay
Region, Québec, Canada" with an
Issue Date of September 12, 2024, and
Effective Date of August 21, 2024
(the "Technical Report"), was prepared in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
("NI 43-101"). Under NI 43-101, issuers must file a technical
report within 45 days of the date of initial disclosure of, among
other things, a new or materially changed mineral resource estimate
or results of a preliminary economic assessment ("PEA"). The
Technical Report is available for review on both SEDAR+
(www.sedarplus.ca) and the Company's website
(www.patriotbatterymetals.com).
The Technical Report supports the news release dated
August 21, 2024, announcing the
results of the PEA, titled "PEA Highlights Shaakichiuwaanaan
Project as a Potential North American Lithium Raw Materials Supply
Base", as well as the news release dated August 5, 2024, announcing the results of the
Mineral Resource Estimate titled "Significant Mineral Resource
Upgrade at Shaakichiuwaanaan Lithium Project to Underpin Impending
PEA". These releases are available on the Company's
website and under its profile
at www.sedarplus.ca and www.asx.com.au. There are no
material differences between the Technical Report and the
information disclosed in the news releases dated August 5, 2024, and August 21, 2024.
ABOUT PATRIOT BATTERY METALS INC.
Patriot Battery Metals Inc. is a hard-rock lithium exploration
company focused on advancing its district-scale 100%-owned
Shaakichiuwaanaan Property (formerly known as Corvette) located in
the Eeyou Istchee James Bay region of Québec, Canada, which is accessible year-round by
all-season road and is proximal to regional powerline
infrastructure. The Shaakichiuwaanaan Mineral Resource1,
which includes the CV5 & CV13 spodumene pegmatites, totals
80.1 Mt at 1.44% Li2O Indicated, and 62.5 Mt
at 1.31% Li2O Inferred, and ranks as the largest lithium
pegmatite resource in the Americas, and the
8th largest lithium pegmatite resource in the
world. Additionally, the Shaakichiuwaanaan Property hosts multiple
other spodumene pegmatite clusters that remain to be drill tested,
as well as significant areas of prospective trend that remain to be
assessed.
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1
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Shaakichiuwaanaan (CV5
& CV13) Mineral Resource Estimate (80.1 Mt at 1.44%
Li2O and 163 ppm
Ta2O5 Indicated, and 62.5 Mt at 1.31%
Li2O and 147 ppm Ta2O5 ppm
Inferred) is reported at a cut-off grade of 0.40% Li2O
(open pit), 0.60% Li2O (underground CV5), and 0.80%
Li2O (underground CV13) with an Effective Date August
21, 2024 (through drill hole CV24-526). Mineral Resources are not
Mineral Reserves as they do not have demonstrated economic
viability.
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For further information, please contact us
at info@patriotbatterymetals.com or by calling +1 (604)
279-8709, or visit www.patriotbatterymetals.com. Please also
refer to the Company's continuous disclosure filings, available
under its profile
at www.sedarplus.ca and www.asx.com.au, for
available exploration data.
This news release has been approved by the Board of
Directors.
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO,
& Managing Director
QUALIFIED/COMPETENT PERSON
The technical information in this news release is based on, and
fairly represents, information from the Technical Report reviewed
and approved by Mr. Darren L. Smith,
M.Sc., P.Geo., who is a Qualified Person as defined
by National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, and member in good standing with
the Ordre des Géologues du Québec (Geologist
Permit number 01968), and with the Association of Professional
Engineers and Geoscientists of Alberta (member number 87868).
Mr. Smith is Vice President of Exploration for Patriot Battery
Metals Inc. and holds common shares and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the
style of mineralization, type of deposit under consideration, and
to the activities being undertaken to qualify as a Competent Person
as described by the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (the JORC Code). Mr.
Smith consents to the inclusion in this news release of the matters
in the form and context in which it appears.
COMPETENT PERSON STATEMENT (ASX LISTING RULE 5.22)
The Mineral Resource Estimate in this release was reported by
the Company in accordance with ASX Listing Rule 5.8 on August 5, 2024. The Company confirms it is not
aware of any new information or data that materially affects the
information included in the announcement and that all material
assumptions and technical parameters underpinning the estimates in
the announcement continue to apply and have not materially changed.
The Company confirms that the form and context in which the
competent person's findings are presented have not been materially
modified from the original market announcement.
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SOURCE Patriot Battery Metals Inc.