 |
VANCOUVER, BC, Nov. 12, 2024 /PRNewswire/ -- November 12, 2024 – Sydney, Australia
Highlights
Ken Brinsden, President, CEO, & Managing Director for the Company, states: "We are proud of achieving UL 2723 ECOLOGO® Certification for Mineral Exploration Companies. Patriot's Shaakichiuwaanaan Project is one of the most active exploration projects in Québec and the certification confirms the efforts Patriot undertakes to conduct our activities in a sustainable way for the benefit of our employees, communities, business partners and shareholders. Additionally, Patriot's progress on Sustainable Development is summarized in our 2023 Sustainable Development Report and our website content has been updated to provide more information and transparency to our stakeholders on our ESG performance."
Alix Drapack, Executive VP ESG for the Company, states: "Environmental baseline data collection began on the Shaakichiuwaanaan Project in 2022 and continued in 2023 and 2024 with assistance from our environmental consultants, WSP and Niigaan (a Cree enterprise). We were fortunate to be accompanied in the field by members of the Cree Nation of Chisasibi and benefited from their knowledge of the land. Following a challenging field season in 2023 due to wildfires, 2024 proved to be an ideal spring/summer/fall for collection of data and Patriot remains on track to submit our comprehensive ESIA in the second half of 2025."
Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSXV: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce an update on three key ESG initiatives and a summary of our 2024 environmental baseline data collection program at its 100%-owned Shaakichiuwaanaan Property (the "Property" or "Project") – formerly known as Corvette. The Shaakichiuwaanaan Property is located in the Eeyou Istchee James Bay region of Quebec, which is accessible year-round by all-season road and is proximal to key major regional infrastructure.
UL 2723 ECOLOGO® Certification for Mineral Exploration Companies
On September 30, 2024, Patriot received desktop audit certification under the UL 2723 ECOLOGO® Certification for Mineral Exploration Companies. The Company successfully completed the final stage of the certification process, which includes audit results, use of the UL ECOLOGO® mark, and registration in UL's SPOT sustainable product database.
UL ECOLOGO® Certification for Mineral Exploration Companies is the first comprehensive certification for mineral exploration companies and their service providers that features a credible third-party audit of environmental, social and economic practices. For more information about the UL ECOLOGO® Certification for Mineral Exploration Companies, please visit the Underwriters Laboratories of Canada website: https://canada.ul.com/ulcprograms/explore/
On November 17, 2023, Patriot submitted the Policies and Procedures Manual for the desktop audit process to Underwriters Laboratories of Canada ("UL"). The UL auditor reviewed the documentation submitted by the Company and granted the desktop audit certification on September 30, 2024. The next step is a field visit to the Shaakichiuwaanaan Site by the UL auditor early next year.
2023 Sustainable Development Report
Patriot is pleased to announce the publication of its inaugural annual Sustainable Development Report covering the activities of Patriot Battery Metals Inc. and all its subsidiaries, including Innova Lithium Inc., with a particular focus on its 100%-owned Shaakichiuwaanaan Project – formerly known as Corvette – located in the Eeyou Istchee James Bay region of Quebec. The report, titled "The beginning of our journey", details the Company's sustainable development performance from January 1 to December 31, 2023. The report provides information about the Company's vision and the status of material topics and presents information about its approach to ESG.
Update on Environmental Baseline Data Collection
In November 2023, the Company submitted the Preliminary Information Statement to the Québec Government (Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs or "MELCCFP") for its 100%-owned Shaakichiuwaanaan Project (the "Project") – formerly known as Corvette – located in the Eeyou Istchee James Bay region of Quebec. In April 2024, the Company received its Guidelines from the MELCCFP which outline the scope and nature of the ESIA. The ESIA remains on schedule for completion in the second half of 2025.
Environmental baseline data collection began on the Shaakichiuwaanaan Project in 2022 and 2023 and continued throughout 2024 with assistance from WSP and Niigaan (a Cree enterprise). A number of field programs were conducted including water quality, hydrology, fisheries, soil quality, birds, bats, vegetation and wetlands. Archaeology and visual assessment work were also completed in the field.
Over the nearly 3-year period of field baseline and detailed data collection, the information has been and remains consistent with the Company's expectations at this stage of the projects assessment. With the environmental database at Shaakichiuwaanaan now well populated with field data, the focus moves to detailed documentation of the ESIA and its targeted presentation in the September quarter of 2025.
SURVEY WORK – Detail
Update to Patriot's website
In order to provide transparency for our stakeholders and to clearly communicate and publish information on our ESG approach and performance, Patriot has updated its website to include additional information, available in both French and English.
Highlights include disclosure of our newly approved and adopted policies on Health & Safety, Environment, Community Relations and Local & Responsible Procurement. The website presents Patriot's Purpose, Vision and What We Stand For. We have included a Sustainability Page with sections on Health & Safety, Environment, Our People and Community & Socio-economic development. Finally, we added an Information Hub to provide our stakeholders with easy access to documents on our sustainability performance, charters, codes, policies, governance and other matters related to our activities. Links allow the user to view/download the documents.
Next Steps
The 2024 spring-summer-fall field work has seen the most expansive environmental baseline data collection at site to date. These site activities are expected to wrap up for the season in November, followed by sectorial reporting for all components to inform the project effects assessment. A small 2025 winter-spring field program is planned to complete the requirements outlined in the MELCCFP Guidelines.
The Company remains on schedule for submission of the ESIA for the Shaakichiuwaanaan Project in the second half of 2025.
Qualified/Competent Person
The technical information in this news release that relates to the Shaakichiuwaanaan Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.
Mr. Smith is an Executive and Vice President of Exploration for Patriot Battery Metals Inc. and holds common shares and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette) located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral Resource1, which includes the CV5 & CV13 spodumene pegmatites, totals 80.1 Mt at 1.44% Li2O Indicated, and 62.5 Mt at 1.31% Li2O Inferred, and ranks as the largest lithium pegmatite resource in the Americas, and the 8th largest lithium pegmatite resource in the world. Additionally, the Shaakichiuwaanaan Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as significant areas of prospective trend that remain to be assessed.
1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt at 1.31% Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.80% Li2O (underground CV13) with an Effective Date of June 27, 2024 (through drill hole CV24-526). Mineral resources are not mineral reserves as they do not have demonstrated economic viability. |
For further information, please contact us at info@patriotbatterymetals.com or by calling +1 (604) 279-8709, or visit www.patriotbatterymetals.com. Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.
This news release has been approved by the Board of Directors.
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO, & Managing Director
Disclaimer for Forward-looking Information
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.
All statements, other than statements of historical fact included in this news release, regarding the Company's strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such as "plan", "expect", "estimate", "intend", "anticipate", "believe", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this release include, but are not limited to, statements concerning: the ESIA release, the 2025 winter-spring field program and anticipated environmental baseline data collection. Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, that proposed exploration and mineral resource estimate work on the Property will continue as expected, the accuracy of reserve and resource estimates, the classification of resources between inferred and the assumptions on which the reserve and resource estimates are based, long-term demand for spodumene supply, and that exploration and development results continue to support management's current plans for Property development and expectations for the Project.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the ability to execute on plans relating to the Company's Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's business plans, financial performance and condition and may not be appropriate for other purposes.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
COMPETENT PERSON STATEMENT (ASX LISTING RULE 5.23)
The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on August 5, 2024. The Company confirms that, as of the date of this announcement, it is not aware of any new information or data verified by the competent person that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.
Olivier Caza-Lapointe, Head, Investor Relations, T: +1 (514) 913-5264, E: ocazalapointe@patriotbatterymetals.com
