Patriot Battery Metals Inc. (ASX:PMT) Provides Feasibility Study Progress Update
Feasibility Study Progress
Patriot Battery Metals Inc. (ASX:PMT) announced that its feasibility study for the Shaakichiuwaanaan Property is progressing as planned, with a target completion date of September 2025.
Resource Development
The updated block model for the CV5 Pegmatite has been completed and handed over to the feasibility study team. This model includes data from the extensive resource development and infill drilling program conducted in 2024, encompassing the high-grade Nova Zone.
Environmental and Technical Plans
The feasibility study will support the company’s Environmental and Social Impact Assessment (ESIA), which is also expected to be finalized and submitted in September 2025. The study will follow the scope outlined in the previously published Preliminary Economic Assessment (PEA), utilizing Dense Media Separation (DMS) processing and staged production growth.
Financial Strength and Strategic Support
Patriot Battery Metals maintains a strong cash position thanks to a strategic investment from Volkswagen/PowerCo and an offtake agreement. This financial stability supports continued progress through the feasibility study and ongoing environmental approvals.
Executive Comments
CEO Ken Brinsden stated, “Building on the significant progress achieved over the last 3 years at Shaakichiuwaanaan, the team is well advanced in 2025 with multiple parallel workstreams underway around resource development, environmental studies and documentation, and the Feasibility Study.”
“With the support of our key strategic shareholders VW, the Company has been unwavering in progressing the project as quickly and efficiently as possible, ensuring the Project’s preeminent position among North American lithium development proposals,” added Mr Brinsden.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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