PMET Launches 45,000m Drill Campaign to Advance Quebec Lithium Project
Event summary
- PMET Resources begins 45,000m summer-fall drilling campaign at Shaakichiuwaanaan Property in Quebec, using 4-8 drill rigs
- Campaign focuses on CV5 and CV13 pegmatites, with 25,000m dedicated to CV5 development and 18,000m to CV13 exploration
- Drilling supports updated feasibility study for CV5 (including tantalum as co-product) and preliminary economic assessment for broader project
- Camp reopened ahead of schedule with all critical infrastructure recommissioned safely
- Updated mineral resource estimate expected concurrent with economic studies in Q4 2026
The big picture
PMET's aggressive drilling campaign positions Shaakichiuwaanaan as a potential North American critical minerals powerhouse, with one of the largest lithium pegmatite resources globally. The focus on both resource expansion and development de-risking comes as demand for lithium and other critical minerals continues to grow, particularly for EV battery supply chains. Successful execution could make this one of the most significant lithium projects in North America.
What we're watching
- Resource Expansion
- Whether follow-up drilling at CV4 and new mineralized lens near Vega Zone will significantly expand known resources
- Project Economics
- How the addition of tantalum as co-product will impact the updated feasibility study and project valuation
- Development Timeline
- The pace at which PMET can advance CV5 and CV13 toward production decision following data collection
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