Mining & Metals
PMET Resources Submits Shaakichiuwaanaan ESIA; Federal Filing Deemed Complete, Studies On Track
PMET Resources (PMET.TO) after the close Monday said the Environmental and Social Impact Assessment (ESIA) for its Shaakichiuwaanaan Project in northern Quebec was submitted to federal and provincial authorities on March 31, with the federal filing deemed complete by the Impact Assessment Agency of Canada, expecting a public consultation period that runs through May 28.The provincial submission is progressing under the COMEV/COMEX review process, the company said.It added an updated feasibility study for the CV5 lithium-tantalum deposit, along with a preliminary economic assessment for the broader CV5 and CV13 lithium-caesium-tantalum project, remains on track for completion in the fourth quarter.A bulk sample application of about 50,000 tonnes is under review, with feedback expected in the second quarter, while project engineering continues to advance toward shovel-ready status by year-end, PMET said.Separately, the company said it submitted a power application to Hydro-Quebec, noting that the La Grande 4 substation, located about 45 kilometers from the project, could serve as a low-cost renewable power source.Ken Brinsden, president and managing director, said, "In just roughly four years since the first drill hole at CV5 in November 2021, we've delivered the lithium-only Feasibility Study and submitted the final ESIA documentation for mine authorization - a testament to the quality of the asset and the team behind it. But it does not stop there, as we continue to progress the Project's critical path through to FID."The Shaakichiuwaanaan property hosts one of the largest pegmatite Mineral Resources and Mineral Reserves in the world, according to the company.The company's shares closed up $0.01 to $6.12 on the Toronto Stock Exchange.
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