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Patriot Battery Metals Acquires Pontois West Lithium Property, Expanding its Land Position in the La Grande Greenstone Belt, James Bay, Quebec
VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA
About this update from Pmet Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that it has increased its land position in the La Grande Greenstone Belt through the acquisition of a 100% interest in the Pontois West Property (the “Property”), a block of thirty-one (31) contiguous claims (1,587.2 ha) located in the James Bay Region of Quebec. The Property is located approximately 10.5 km directly west of the Company’s Corvette Property and adds an additional 8.3 km of highly prospective lithium pegmatite trend, which is host to the same regional rock suite as the CV Lithium Trend on the Corvette Property. Company CEO, President and Director, Blair Way, comments: “this was a great opportunity to add another 8 k’s of the trend on the west end of our Corvette Property.” The Company shall acquire a 100% interest in the Property by way of a Purchase Agreement whereby the Company shall pay $100,000 cash (CAD) and issue 220,000 common shares in the capital of the Company, upon receipt of TSX Venture Exchange approval. The Vendor will also retain a 2% Net Smelter Royalty (NSR) which has a 50% buyback option by the Company for $1,000,000 CAD. The Property has been acquired for its lithium pegmatite potential; however, is considered to also be prospective for orogenic gold and volcanogenic massive sulphide. The Agreement remains subject to the approval of the TSX Venture Exchange. The shares issuable shall be subject to a statutory hold period of four months and one day from issuance. No finder’s fees or commissions are being paid in connect ion with the acquisition. Qualified Person Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the Ordre des Géologues du Québec, and Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release. About Patriot Battery Metals Inc. Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals. The Company’s flagship asset is the 100% owned Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The la...