Patriot Battery Metals (TSXV: PMET) announced Thursday the discovery of a new high-grade zone at the CV13 spodumene pegmatite of its Corvette lithium property located in the James Bay region of Quebec.
Samples from the zone range between 3% and 5% lithium oxide (Li2O).
The CV13 spodumene pegmatite trend extends over an approximate 2.3 km strike length through multiple outcrop exposures, of which, approximately 1.1 km has now been traced continuously by drilling.
According to the company, with significant mineralization now delineated further west at CV5 and at CV13, there are now several options for the mining starter pit.
“As we continue to close the distance between CV5 and CV13 through drilling, this newly discovered high-grade zone at CV13, coupled with the large spodumene crystals observed (up to 1.3 m in drill core), supports the interpretation that both share the same ‘plumbing’ system,” VP of exploration Darren Smith said in a statement.
The Corvette property hosts the CV5 spodumene pegmatite with a maiden mineral resource estimate of 109.2 million tonnes at 1.42% Li2O inferred. It ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent, and one of the 10 largest in the world.
Shares of Patriot Battery Metals rose 3% by 10:00 a.m. EDT. The company has a market capitalization of C$1.39 billion ($1.01 bn).
