PMET Resources Inc. has filed a comprehensive technical report on its CV5 lithium project. This report adheres to the National Instrument 43-101 standards and outlines the feasibility of a large-scale lithium mining operation at the Shaakichiuwaanaan Project. The effective date of the report is October 20, with the issue date listed as November 14. This filing follows a previous announcement detailing a favorable feasibility study focused solely on lithium extraction.
Table of Contents:
Details of the technical report
The technical report, titled CV5 Pegmatite Lithium-Only Feasibility Study NI 43-101 Technical Report – Shaakichiuwaanaan Project, was prepared by G Mining Services Inc., with significant contributions from independent consulting firms such as Primero Group Americas Inc. and AtkinsRéalis Group Inc. This collaboration ensures adherence to the rigorous standards set by NI 43-101, providing a comprehensive assessment of the project’s feasibility.
Investors and stakeholders can access the report on SEDAR+ as well as the company’s official website. It is crucial for readers to review the entire document, as it contains essential qualifications, assumptions, and risks associated with the mineral resource estimates and mining operations.
Project potential and resource estimates
PMET Resources has reaffirmed its commitment to enhancing lithium exploration efforts. A recently released feasibility study reveals a maiden mineral reserve of 84.3 million tonnes with a grade of 1.26% Li2O. This significant discovery points to the potential for a competitive lithium project, which could yield approximately 800 kilotonnes per annum of spodumene concentrate using a straightforward Dense Media Separation (DMS) process.
Significant resource findings
The findings from the feasibility study highlight the Shaakichiuwaanaan Project as a prominent player in the North American critical mineral market. In addition to lithium, the project reveals substantial resources of tantalum and caesium, further increasing its attractiveness.
According to the report, the consolidated mineral resources consist of a total of 108.0 million tonnes at 1.40% Li2O and 166 ppm Ta2O5 classified as Indicated. Furthermore, there are 33.4 million tonnes at 1.33% Li2O and 155 ppm Ta2O5 classified as Inferred. This positions the project among the largest lithium pegmatite resources in the Americas and within the top ten globally.
About PMET Resources Inc.
PMET Resources Inc. focuses on the exploration and development of critical minerals, with a particular emphasis on lithium. The company operates from its strategically located Shaakichiuwaanaan Property in the Eeyou Istchee James Bay region of Quebec, Canada. This property is accessible year-round via an all-season road and is situated near regional hydro-power facilities.
As PMET Resources Inc. progresses, it aims to strengthen its market position by utilizing its extensive resource base and advancing the feasibility of its mining operations. The technical report represents a significant milestone in this process, laying the groundwork for future advancements in the lithium sector.
Future prospects
Following the submission of the technical report, PMET Resources plans to pursue additional opportunities for growth and development. Stakeholders are advised to monitor the company’s ongoing initiatives and progress in the lithium market. The findings from the CV5 project may hold significant implications for the future of sustainable mineral sourcing.
