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On November 15, PMET Resources Inc. announced a significant development regarding their Shaakichiuwaanaan Project in Quebec, Canada. The company filed a technical report compliant with the National Instrument 43-101 standards for mineral projects. Titled CV5 Pegmatite Lithium-Only Feasibility Study NI 43-101 Technical Report, the document was issued on November 14, with an effective date of October 20. This filing follows PMET’s earlier announcement of a positive outcome from their lithium-only feasibility study, highlighting the substantial potential for a large-scale mining operation within the project.
The report was meticulously prepared by G Mining Services Inc., with contributions from independent consulting firms including Primero Group Americas Inc., AtkinsRéalis Group Inc., and WSP Global Inc. These contributors ensured that the report meets the rigorous standards set by the NI 43-101.
Understanding the technical report
The technical report is publicly accessible on SEDAR+ and PMET’s official website. Stakeholders are encouraged to review the document thoroughly, as it encompasses qualifications, assumptions, exclusions, and risks related to the mineral resources and reserves identified in the project. It is crucial to approach the report as a whole to avoid misinterpretations.
Key highlights from the feasibility study
Recently, PMET Resources released results from their lithium-only feasibility study, indicating a maiden Mineral Reserve estimate of 84.3 million tonnes at a grade of 1.26% Li2O. This study demonstrates the feasibility of establishing a competitive and globally significant lithium project, targeting a production capacity of approximately 800,000 tonnes per annum of spodumene concentrate. The proposed extraction process utilizes a straightforward Dense Media Separation (DMS) method, reflecting the project’s operational efficiency.
Additionally, the feasibility study highlights the potential for the Shaakichiuwaanaan Project to become a key player in North America’s critical minerals landscape, with opportunities to extract lithium, tantalum, and cesium.
Overview of PMET Resources Inc.
PMET Resources Inc. focuses on the exploration and development of critical minerals. The company is dedicated to its wholly-owned Shaakichiuwaanaan Property, strategically located in the Eeyou Istchee James Bay region of Quebec. This site is advantageous due to year-round accessibility via an all-season road and proximity to essential hydroelectric power infrastructure, making it ideal for mining operations.
The project boasts substantial lithium resources, with a consolidated mineral resource totaling 108.0 million tonnes at a grade of 1.40% Li2O and 166 parts per million Ta2O5 in the indicated category. An additional inferred resource of 33.4 million tonnes at 1.33% Li2O further solidifies the Shaakichiuwaan Project’s status as one of the largest lithium pegmatite resources in the Americas and among the top ten worldwide.
Future prospects
The company’s efforts reflect a growing demand for lithium, driven by its critical role in renewable energy technologies and electric vehicles. By advancing the Shaakichiuwaan Project, PMET aims to capitalize on the burgeoning market for sustainable energy solutions. The technical report serves as a foundational document guiding the project’s development, providing investors and stakeholders with a clear understanding of its potential.
For more information about PMET Resources and their ongoing projects, interested parties can reach out via email or visit their website for the latest updates and detailed exploration data. The company remains committed to transparency and will continue to provide disclosures in line with regulatory requirements.
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