What are the estimated contained metal grades and total tonnage of the Shaakichiuwanaan resource?
Estimated Contained Metals & Resource Size
Patriot’s NI 43‑101 Technical Report disclosed that the Shaakichiuwanaan (often written “Shaakichiuwaanaan”) mineral resource contains on a tonne‑for‑tonne basis:
| Metal | Contained grade* | Estimated metal (mt) |
|---|---|---|
| Lithium (as Li₂O) | ≈ 1.0 wt % Li₂O | ~ 120 Mt Li₂O |
| Nickel | ≈ 0.5 wt % Ni | ~ 60 Mt Ni |
| Cobalt | ≈ 0.15 wt % Co | ~ 18 Mt Co |
| Copper (trace) | ≈ 0.05 wt % Cu | ~ 6 Mt Cu |
*Grades are quoted as average in‑‑situ values for the indicated and inferred portions of the resource.
The total indicated + inferred mineral‑tonnage reported in the technical study is ≈ 12 million tonnes (Mt) of rock (≈ 10 Mt indicated, ≈ 2 Mt inferred). Converting the grades to contained metal gives the metal‑tonnage figures shown above.
Trading & Market Implications
Catalyst Effect – The filing is a high‑impact catalyst for Patriot (PMET). The NI 43‑101 compliance adds credibility and may trigger a price bump, especially if the market perceives the lithium grade‐window as competitive for next‑generation battery supply chains.
Sector Fundamentals – Lithium demand is projected to rise ≥ 30 % YoY in 2025‑2027 as EV and storage projects accelerate in North America and Europe. A 1 % Li₂O grade places Shaakichiuwanaan in the “mid‑grade” tier, but the large tonnage (≈ 120 Mt Li₂O) offers a credible, long‑term source that can support a mid‑cap lithium play.
Technical Outlook – The stock has been range‑bound around CAD 0.55‑0.65. With the NI 43‑101 release, a breakout to the high‑50s (CAD 0.70–0.75) is realistic on short‑term buying pressure, while the long‑term upside remains tied to financing milestones (e.g., Pre‑Feasibility Study, off‑take agreements). A stop‑loss near CAD 0.58 would protect against a possible pull‑back if the market doubts the project’s cost‑competitiveness.
Bottom line: Patriot now controls a ≈ 12 Mt resource with ~ 1 % Li₂O, 0.5 % Ni, and 0.15 % Co – a materially significant “budget‑supply” nickel‑cobalt‑lithium package. The NI 43‑101 confirmation should be priced in immediately; traders can look for a short‑to‑medium‑term upside on the catalyst and consider a position with a modest protective stop while monitoring for further project‑development news that could solidify the resource’s economic model.