Rig Mobilized to Canadian Lithium Property as EV Boom Drives Commodity Prices Higher

Patriot Battery Metals (CSE: PMET)(OTC: RGDCF) — currently trading around C$0.50 per share — has mobilized a drill rig to its flagship Corvette-FCI copper-gold-silver-lithium project in the James Bay region of Quebec, Canada, marking an important milestone for the company.

A planned 2,000-meter, 15-to-20 hole program will be the first drill-testing to take place along two distinct trends at Corvette-FCI:

  • 10-km-long Maven copper-gold-silver trend — where previous sampling has returned high-grade copper values up to 3.63% (Elsass target) and 8.15% (Lorraine target ) — which will see approximately two-thirds of the drilling.
  • 25-km-long CV lithium trend — where numerous occurrences of high-grade spodumene pegmatite have been discovered — for the balance of the program.

The company’s shares have been trending higher in recent trading due, in part, to the commencement of the drill program and, as well, in response to an uptick in lithium and spodumene pricing driven by an upsurge in electric vehicle sales, which, in turn, is putting a strain on supplies globally.

Spot prices for lithium carbonate in China have climbed 170% so far this year to 142,000 yuan (US$22,000) a tonne — their highest level since April 2018. Similarly, prices of spodumene, a source of lithium in nature, have climbed 144% this year to US$990 a tonne.

Patriot CEO, Blair Way — whom you’ll be hearing directly from in a moment — commented via press release:

“With the drill rig mobilization, we are hitting our next milestone to advance the Property and gain a deeper understanding of these two important lithium and copper trends. This work also takes us one step closer to gaining 50% ownership of the FCI claim groups under the Option Agreement with O3 Mining Inc.”

My colleague Gerardo Del Real of Junior Resource Monthly has been delivering all the key insights on Patriot’s impressive progress to-date.

He recently sat down with company CEO Blair Way to discuss the parameters of the upcoming drill program at Corvette-FCI as the company targets gold-copper-silver plus, yes, lithium, north of the Great Lakes in the James Bay region of Quebec. CLICK TO PLAY

Also, click here for a quick video presentation where Gerardo discusses a few of the key advantages his subscribers enjoy monthly — including specific buy-sell signals and upcoming catalysts across a variety of metals — and why he believes Q4 is setting up to be one of the most profitable quarters he’s seen in the junior resource space.


And click here for our feature report on Patriot Battery Metals, formerly Gaia Metals.

Yours in profits,


Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest readers.

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