Patriot more than triples its lithium portfolio, staking another 830km2 of prime Canadian ground
Patriot Lithium has successfully extended its Canadian lithium portfolio, adding 830km2 to the previous 334km2 through the staking of additional lithium prospective land, including four new Projects – Pak East, Dryden, Bull and Sydney.
The new projects are located in proven and emerging lithium districts in Ontario, and the company has also extended its existing Gorman and Forest projects.
Patriot Lithium (ASX:PAT) plans to undertake a systematic evaluation of all data across the new project areas with field work expected to commence as soon as the weather allows and the team can access the ground.
The Gorman Project now covers ~320km2 in an emerging lithium district along strike from Frontier Lithium’s (TSXV:FL) tier-one PAK lithium project, which hosts 26Mt at 1.6% Li20 Measured & Indicated + 32.5Mt at 1.4% Li20 Inferred.
The newly added claims capture several pegmatitic granite occurrences as well as a two-mica granite that is similar in nature to and along strike from the granite body that hosts Frontier Lithium’s PAK deposit.
And the Forester Project now covers ~145km2 SE of the Musselwhite gold mine where previous drilling identified a spodumene-bearing pegmatite swarm.
“The Patriot exploration team are very excited by the additional projects that we have secured in NW Ontario, including extensions to our Gorman Project along strike from Frontier Lithium’s world class PAK lithium development project,” MD Matt Gauci said.
The company is also planning field work in the near-term at its Keystone and Tinton West Projects in the Black Hills of South Dakota and Wyoming.
“The Patriot exploration team now have multiple exploration programs underway in the Pegmatite Belt of Arizona, the Blacks Hills of South Dakota and Wyoming and in the Superior Province of Ontario, including desktop work, field work and geophysics in preparation for subsequent drill testing,” Gauci said.
Notably, the company’s new projects are in prime position to take advantage of the Tier 1 jurisdiction in Canada.
The Pak East Project captures mapped pegmatites ~32km east of Frontier Lithium’s PAK lithium project, and the Dryden Project is immediately adjacent to Critical Resources’ (ASX:CRR) Mavis Lake lithium project and includes several mapped pegmatites.
The Bull Project includes numerous mapped pegmatites along strike from the Niobe-Nym Lakes lithium-caesium-tantalum (LCT) pegmatites, and the Sydney Project (~342km2) contains mapped pegmatites near the operating Tanco LCT mine.
And the Ontario Government is pushing a Critical Minerals Strategy, which includes the Critical Minerals Innovation Fund to support exploration, mining, smelting and processing of critical minerals.
Plus, recent proposed changes to the laws governing approval of mining projects have been aimed at boosting Ontario’s production of critical minerals, are set to make it easier for companies to get permits to recover minerals and leverage Ontario’s supply of critical minerals to attract investment in electric vehicle production.
This article was developed in collaboration with Patriot Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.