Corporate Leadership Changes at Patriot Battery Metals Inc.
Patriot Battery Metals Inc. [PMET-CSE, PMETF-OTCQB, R9GA-FSE] said its board of directors has agreed to revisions to both the board and the company’s executive team in support of the company’s Corvette – FCI gold-copper-silver-lithium project in the James Bay Region of Quebec.
Executive Team Restructuring
The company said Ken Brinsden is transitioning from non-executive chair to CEO, President, and Managing Director. He will reside in Montreal, Que. The company’s current CEO Blair Way is moving to the chief operating officer role and will retain his executive board position.
Ken Brinsden’s Background and Appointment
Brinsden is a mining engineer with approximately 30 years of experience in surface and underground mining operations. He graduated from the Western Australian School of Mines in 1993.
Pierre Boivin as New Non-Executive Chair
Pierre Boivin, is stepping into the role of non-executive chair from non-executive director. Boivin is a seasoned lawyer with over 40 years of experience in business law, notably in the resources sector.
Strategic Leadership Presence in Quebec
These management changes came into effect on January 24, 2024 and are intended to increase Patriot’s senior leadership presence within Quebec as the company’s Corvette project enters and moves through the development phase.
Update on 2023 Summer-Fall Drill Program
The company recently said a 2023 summer-fall drill program, although hindered by regional forest fires for multiple months, was highly successful, with a collective pegmatite strike length of at least 5.9 kilometres now defined.
CV Lithium Trend and Discovery
Patriot Battery Metals has been targeting the CV Lithium Trend, an emerging spodumene pegmatite district discovered, which spans more than 25 kilometres across the Corvette Property, covering the FCE West, FCE East and Corvette claim blocks. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 and CV1 Pegmatite.
Drilling Focus on CV5 Pegmatite
The company said the primary drill area is focused on the CV5 Pegmatite, which is located approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and powerline infrastructure. A third drill has been active on the CV13 pegmatite cluster.
Drilling Results and Future Prospects
In a December 17, 2023, news release, Patriot said it continues to intersect well-mineralized zones in step-out drilling at both the CV5 and CV13 pegmatites. CV5 Pegmatite highlights include 56.6 metres of 1.37% Li20 in a step out hole. Highlights from CV13 drilling include 19.2 metres of 1.75% Li20 in step out drilling.
Commitment to Project Success
“Given its location and the scale that has emerged at Corvette, it is clearly one of, if not, the best lithium raw materials development projects globally,’’ Brinsden said. He went on to say in a statement that he is moving to Quebec to build out the leadership team and engage deeply with key stakeholders that will contribute to the project’s success.
Stock Market Performance
Patriot Battery shares were unchanged at 86 cents and currently trade in a 52-week range of $17.74 and $6.05.
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