In a significant development for the mining sector, Pmet Resources Inc. has filed a technical report compliant with National Instrument 43-101. This report, focusing on the CV5 Pegmatite lithium-only feasibility study, was released on November 14 and highlights the potential for large-scale lithium extraction at the company’s Shaakichiuwaanaan project in Quebec.
The report, dated October 20, outlines the positive findings from the feasibility study conducted on the CV5 Pegmatite.
These findings not only confirm the project’s viability but also suggest its potential to emerge as a key player in the lithium market.
Table of Contents:
Insights from the technical report
The technical report was prepared by G Mining Services Inc. in collaboration with several independent consulting firms, including Primero Group Americas Inc. and BBA Inc.. This collaboration enhances the report’s credibility, ensuring it adheres to NI 43-101 standards.
Overview of the findings
The report indicates that the Feasibility Study has identified a maiden mineral reserve of 84.3 million tons with a lithium oxide concentration of 1.26%. This finding is noteworthy as it highlights the potential for a competitive, high-grade lithium project capable of producing approximately 800,000 tons per annum of spodumene concentrate.
The project is emerging as a significant future hub for critical minerals in North America. Alongside lithium, the presence of tantalum and cesium could enhance the operation’s economic viability. This development positions the project to meet the increasing demand for these essential materials.
Company background and project location
Pmet Resources Inc. focuses on exploring and developing pegmatite resources, particularly at its wholly owned Shaakichiuwaanaan Property. This property is situated in the Eeyou Istchee James Bay region of Quebec. The region offers year-round access through all-season roads and proximity to hydro-power infrastructure, essential for energy-intensive mining operations.
Potential for expansion
The technical report highlights a consolidated mineral resource of 108 million tons, featuring a lithium oxide grade of 1.40%. Additionally, the data indicates approximately 166 parts per million of tantalum pentoxide within indicated resources. Notably, Shaakichiuwaanaan is recognized as one of the largest lithium pegmatite resources in the Americas and ranks among the top ten globally.
The project also includes the largest known pollucite-hosted caesium pegmatite mineral resource, with substantial quantities identified in the Rigel and Vega zones. The presence of caesium not only enhances the project’s overall value but also solidifies its importance as a critical mineral source in the region.
Future outlook
Pmet Resources is advancing the Shaakichiuwaanaan project while ensuring that stakeholders understand the findings of the feasibility study. The company invites interested parties to review the complete technical report to fully comprehend the context and implications of the data presented.
For those seeking additional insights or updates about the project, the technical report is available on SEDAR+ and will soon be accessible on Pmet’s official website. The company’s commitment to transparency guarantees that all relevant information regarding the feasibility, risks, and potential of the Shaakichiuwaanaan project is publicly available.
The filing of a comprehensive technical report signifies a crucial advancement for Pmet Resources Inc. in its plans for lithium extraction in Quebec. With the growing demand for critical minerals, the company is strategically positioned to make significant contributions to the global lithium supply chain.
