Patriot Battery Metals Inc (PMETF)

[Photonics_Guy]

Some notes I've compiled about PMET

Stock symbols:
TSX.V:PMET
OTC:PMETF

Company Presentation

They have secured 100% ownership in 50km of claims in northern Quebec and have hit remarkable grades of lithium (Li) in the limited drilling they have done to date. They have drilled about 2.5km of the 50km run length of the property and have a very strong likelihood of having tapped into one of the largest Li deposits in the Americas (>100M tonnes).



It appears very likely they will have discovered more than 100M tonnes of ore just in the circled area below, which is less than 10% of the total run-length of the 50km trend, which they own 100%. And they have observed Li bearing pegmatites all along the 50km length of the property.



Quebec is the most mining friendly province in Canada and the Corvette property is only 12km away from developed roads and very adequate source of power.

There was a cool press release by PMET the morning of 4/21/22. It says that the two recent drill holes under a lake between two pegmatite outcroppings on either side of the lake contain Spodumene.

Patriot Battery Metals Completes Winter Drill Program, Extends Main Pegmatite Body to over 1.4 km in Length, and Returns Wider Intersections at Depth

An earlier PR (dtd 4/7/22) stated that the two drill holes under the lake showed that the pegmatite was continuous from the outcropping on one side of the lake to the outcropping on the other side (over the course of a 1.4km trend). Additionally, the PR stated that the pegmatite ore body only became wider at depth. Extremely promising developments.

Patriot Battery Metals Provides Further Update on 2022 Drill Campaign at the Corvette Lithium Property

From Wikipedia on Pegmatite: "... a few pegmatites have a complex composition, with numerous unusual minerals of rare elements. These complex pegmatites are mined for lithium, beryllium, boron, fluorine, tin, tantalum, niobium, rare earth elements, uranium, and other valuable commodities."

In other words, Pegmatite may contain Lithium.

From Wikipedia on Spodumene: "Spodumene is a pyroxene mineral consisting of lithium aluminum inosilicate, LiAl(SiO3)2, and is a source of lithium. It occurs as colorless to yellowish, purplish, or lilac kunzite (see below), yellowish-green or emerald-green hiddenite, prismatic crystals, often of great size."

In other words, Spodumene definitely contains Lithium.

So, the PR of 4/21 states that the pegmatite orebody between the two outcroppings definitely contain spodumene, which means that Lithium is present between the two outcroppings (across the 1.4km trend). And...the ore body is becoming wider at depth.

From a recent interview on YouTube with Blair Way, my key takeaway from interview was that Blair expects “triple digit” tonnage (i.e., >100Mt at approx 1% yield) from the first 5km of the Corvette property. What he didn’t mention is that they 100% own 50km of property and they have hit significant pegmatite outcroppings across all 50km.

Also, LAC, one of the world’s biggest Li miners, has a reserve of 60Mt at avg grade of about 1.5%. LAC’s market cap is $6B. PMET’s market cap is $75M. You do the math… I’ll give you a hint. PMET presently has 1/80th of the market capitalization as LAC, with possibly equivalent or more Li tonnage at very roughly comparable grades. Granted, LAC has a proven resource, is in production, has built a processing plant and has all necessary permits. Important distinctions.

Another interesting tidbit on PMET: Spodumene concentrate (6%) currently US$2895/t. 0.9% Li = 15% spodumene so in ground value would be about US434/t. Assuming no Li carbonate plant, a 100 million tonne resource at 0.9% Li has an in ground value of about $43 billion.

Some more interesting charts: