Multiple pathways to value-add caesium chemicals identified during bench-scale extraction testwork at SGS Lakefield and through Koch Technology Solutions Phase 1 program
MONTREAL, July 12, 2026 /PRNewswire/ - July 13, 2026 - Sydney, Australia
Highlights
SGS Canada Caesium Extraction Test Program
- Leaching of pollucite concentrate using sulphuric acid was highly successful with >97% recovery of the caesium (Cs) into solution achieved.
- Bench-scale testwork on impurity removal was also successful, demonstrating efficient removal of key impurities such as aluminum.
- Opportunity identified to potentially recover a rubidium by-product.
- Primary objective of program was fully realized - that being to identify a preliminary set of conditions to extract caesium from pollucite concentrate (produced from the Vega Zone) at high recovery while characterizing (and limiting) the impurity profile.
- Next steps will build upon this extraction phase of work with a primary objective to produce gram quantities of high-purity Cs-sulphate, Cs-carbonate, Cs-formate, and potentially Rb-carbonate.
Koch Technology Solutions Caesium Extraction Test Program
- PMET is working with Koch Technology Solutions, part of Koch Inc., evaluating advanced processing pathways to value-added caesium products.
- Preliminary results from Phase 1 indicate both synthetic and live Pregnant Leaching Solution yield very selective high loading factors of caesium recovery using Koch's proprietary flow sheet.
PMET Resources Inc. (the "Company" or "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on two parallel bench-scale testwork programs focused on caesium (Cs) extraction from pollucite samples from the Shaakichiuwaanaan Project. Both approaches - conventional by SGS Canada, and proprietary by Koch Technology Solutions - offer attractive process routes for caesium extraction from pollucite concentrate into marketable chemical products. The Company is motivated to consider caesium value-added chemical production (with key partners) to unlock maximum value from its globally significant caesium resource and its pollucite concentrates produced at site.
In addition to being one of the largest lithium-tantalum pegmatite Mineral Resources[1] and lithium pegmatite Mineral Reserves[2] globally, the Property also hosts the world's largest in-situ pollucite-hosted caesium pegmatite Mineral Resource, comprising 0.69 Mt at 4.40% Cs2O (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred). The CV13 Pegmatite, host to the caesium Mineral Resource, is located <3 km along trend from the CV5 Pegmatite, which is situated approximately 13 km south of the regional Trans-Taiga Road and powerline infrastructure corridor, and is accessible year-round by road.
The pollucite concentrate used as feed for both extraction testwork programs (Figure 1, top) was produced by X-Ray Transmission (XRT) ore sorting of drill core material from the Vega Caesium Zone at the CV13 Pegmatite (see news release dated October 9, 2025) and assayed 12% Cs2O (Figure 2).
SGS Canada Caesium Extraction Testwork Program
At SGS Lakefield, a conventual process approach (Figure 1, bottom) for caesium extraction from pollucite concentrate is being advanced using sulphuric acid digestion (H2SO4) and subsequent impurity removal. The primary objective of this initial bench-scale test program is to identify a preliminary set of conditions to extract caesium at high recovery while characterizing (and limiting) the impurity profile.
The pollucite concentrate sample (~15 kg) was ground to varying sizes (P80 of 75 µm to 212 µm) and a portion (<4 kg) subjected to sulphuric acid (H2SO4) leaching at varying temperatures (up to 120°C). The program was highly successful with the testwork achieving consistently high extractions of 97-98% Cs while maintaining significantly lower extractions of key impurities (e.g., Al). Further, subsequent impurity tests successfully removed the remaining aluminum (Al) and a majority of the sulphur (S) with negligible caesium (Cs) losses.
Additionally, the program also identified a potential opportunity to recover a rubidium by-product from one of the waste streams. Further characterization of this opportunity was not undertaken during this initial bench-scale caesium extraction test phase and will be investigated as a secondary objective in future work.
The testwork was completed at SGS Canada's Lakefield, Ontario, facility with support from Primero Group Americas and a Company-retained Subject Matter Expert ("SME") specializing in caesium extraction and recovery from pollucite. These three parties, in addition to TOMRA Mining, are also key contributors to the design and execution of the Company's ore sorting programs.
1
Consolidated MRE (CV5 + CV13 pegmatites) totals 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated), and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), at an Li2O cut-off grade of 0.40% (open-pit), 0.60% (underground CV5), and 0.70% (underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium
zones, contained entirely within CV13, with a MRE of 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred). The Effective Date is June 20, 2025. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.
(2) Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O at the CV5 Pegmatite with a cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above 0.37% Li2O are also included in the statement. The Effective Date is September 11, 2025. See Feasibility Study news release dated
October 20, 2025.
Figure 1: Simplified conceptual flowsheet for conventional processing of pollucite pegmatite through to pollucite concentrate (top) and from pollucite concentrate to final marketable caesium salts/brine (bottom). The bench-scale testwork carried out by SGS Canada is focused on the caesium extraction and impurity removal steps. The stated >97% Cs recovery is with respect to the pollucite concentrate feed through to initial impurity removal.
Figure 2: Pollucite concentrate (~12% Cs2O) produced from prior XRT ore sorting program (see news release dated October 9, 2025), of which a portion was used as feed for the bench-scale caesium extraction and recovery program at SGS Canada and Koch Technology Solutions discussed herein.
Next steps will build upon this bench-scale testwork with a primary "proof-of-concept" objective to produce gram quantity samples of high-purity Cs-sulphate, Cs-carbonate, Cs-formate, and potentially Rb-carbonate. This test program is currently underway at SGS Canada's facility in Lakefield, Ontario, with results expected circa Q4 2026.
Koch Technology Solutions Caesium Extraction Testwork Program
The testwork program with Koch Technology Solutions ("KTS") has been developed as part of a strategic relationship that has evolved following the Company's investigations of the caesium industry, commercial engagement, and research. The program will leverage KTS's demonstrated capabilities in engineering, development and commercialization of critical minerals extraction technologies to produce a range of value-added caesium chemical compounds.
The bench-scale test program being advanced by KTS is designed to assess the application of their proprietary flowsheet technology, to produce a range of value-added caesium chemical compounds. Approximately 6 kg of pollucite concentrate is being used to support the testwork.
Preliminary results from Phase 1 of the program indicate a strong and selective caesium recovery. The testwork will now move onto Phase 2 and the Company anticipates expanding the mandate to produce gram quantities of caesium derivative products as a complete bench-scale proof-of-concept.
Study Work Underway
A Preliminary Economic Assessment ("PEA") for the broader Project, incorporating lithium, caesium, and tantalum, is scheduled for completion in Q4 2026. The PEA will complement the Feasibility Study for the CV5 Pegmatite (lithium and tantalum), which is also scheduled for completion in Q4 2026, and will provide the first economic assessment of the Project's caesium potential.
About Koch Technology Solutions.
Koch Technology Solutions (KTS) is a global leader in technology development, commercialization and licensing. KTS works with owners, developers, and investors in the process manufacturing and critical minerals sectors to solve complex technical and investment challenges before large capital is committed, helping clients make confident decisions from early concept through EPC-ready design. With a global network and rich history of domain experience and expertise, KTS gains additional strength from its position within Koch Engineered Solutions (KES). This backing enhances our ability to partner with companies developing chemical process technologies, create attractive licensing solutions for commercial deployment, and bring the next generation of technologies to the market.
For further information, please contact us at info@pmet.ca or by calling +1 (604) 279-8709, or visit www.pmet.ca. Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.
Qualified/Competent Person
The technical and scientific information in this news release that relates to the Mineral Resource Estimate, exploration, and metallurgical results for the Company's properties is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the related technical information in this news release.
Mr. Smith is an Executive and Vice President of Exploration for PMET Resources Inc. and holds common shares, Restricted Share Units (RSUs), Performance Share Units (PSUs), and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.
The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin has reviewed and approved the related technical information in this news release.
Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.
About PMET Resources Inc.
PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and proximal to regional hydro-power infrastructure.
In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at 1.26% Li2O (Probable)[3]. The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation ("DMS") only process flowsheet. Further, the results highlight Shaakichiuwaanaan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and caesium in addition to lithium.
The Project hosts a Consolidated Mineral Resource[4] totalling 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), and ranks as a top ten lithium pegmatite globally in size. Additionally, the Project hosts the world's largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred).
(3)
See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above 0.37% Li2O are also included in the statement. Effective Date of September 11, 2025.
4
Consolidated MRE (CV5 + CV13 pegmatites) is reported at an Li2O cut-off grade of 0.40% (open-pit), 0.60% (underground CV5), and 0.70% (underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones, contained entirely within CV13. The Effective Date is June 20, 2025. Mineral Resources are not
Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.
This news release has been approved by
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO, & Managing Director
Olivier Caza-Lapointe
Head, Investor Relations
T: +1 (514) 913-5264
E: ocazalapointe@pmet.ca
Disclaimer for Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words or expressions such as "pathways", "opportunity", "potentially", "objective", "preliminary", "conditions", "next steps", "build upon", "marketable, "to consider", "to unlock", "being advanced", "scheduled, or variations of such words or expressions and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements include, but are not limited to, statements concerning SGS Canada and KTS Caesium Extraction Test Program, the schedule for the PEA and Feasibility Study for the CV5 Pegmatite and the economics of caesium.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the ability to obtain the required financing to bring the project to development, the ability to make discoveries, the potential of each of tantalum, lithium and caesium , that proposed exploration work on the Property and the results therefrom will continue as expected, the accuracy of reserve and resource estimates, the classification of resources and the assumptions on which the reserve and resource estimates are based, long-term demand for lithium (spodumene), tantalum (tantalite), and caesium (pollucite) supply, and that exploration and development results continue to support management's current plans for the Property's development.
Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Readers should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
Competent Person Statement (ASX Listing Rules)
The information in this news release that relates to the Feasibility Study ("FS") for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (Montreal time) is available on the Company's website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The production target from the Feasibility Study referred to in this news release was reported by the Company in accordance with ASX Listing Rule 5.16 on the date of the original announcement. The Company confirms that, as of the date of this news release, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed.
The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rules 5.8 and 5.9 in market announcements titled "World's Largest Pollucite-Hosted Caesium Pegmatite Deposit" dated July 20, 2025 (Montreal time) and "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (Montreal time) and are available on the Company's website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The Company confirms that, as of the date of this news release, it is not aware of any new information or data verified by the competent person that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.
Appendix 1 - JORC Code 2012 Table 1 (ASX Listing Rule 5.8.2)
Section 1 - Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (eg cut channels, random Pollucite concentrate, assaying ~12% Cs2O, was used as feed to the bench-
chips, or specific specialized industry standard measurement scale caesium extraction test programs discussed herein. This pollucite
tools appropriate to the minerals under investigation, such concentrate was produced using XRT ore sorting on NQ-sized drill core
as down hole gamma sondes, or handheld XRF instruments, (half-core) collected from the Vega Caesium Zone as described in news
etc). These examples should not be taken as limiting the release dated October 9, 2025.
broad meaning of sampling.
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
Aspects of the determination of mineralization that
are Material to the Public Report.
In cases where 'industry standard' work has been
done this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverized to produce a 30 g charge for fire
assay'). In other cases more explanation may be required,
such as where there is coarse gold that has inherent
sampling problems. Unusual commodities or mineralization
types (eg submarine nodules) may warrant disclosure of
detailed information.
Drilling techniques
Drill type (eg core, reverse circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic, etc) and details (eg
core diameter, triple or standard tube, depth of diamond
tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc).
N/A. No drill results reported.
Drill sample
recovery
Method of recording and assessing core and chip sample
recoveries and results assessed.
Measures taken to maximize sample recovery and ensure
representative nature of the samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse material.
N/A. No drill results reported.
Logging
Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies and
metallurgical studies.
Whether logging is qualitative or quantitative in nature.
Core (or costean, channel, etc) photography.
The total length and percentage of the
relevant intersections logged.
N/A. No drill results reported.
Sub-sampling
techniques and
sample preparation
If core, whether cut or sawn and whether quarter, half or all Sample(s) were prepared for testwork and analysis by SGS Canada Inc. for
core taken.
If non-core, the SGS program. Samples were crushed to P100 particle size of 2 mm and
whether riffled, tube sampled, rotary split, etc and whether split into 2 kg charges using a rotary splitter. Charges were further
sampled wet or dry.
For processed in a stage grinding process to P100 grind sizes of 75, 150, and
all sample types, the nature, quality and appropriateness of 212 µm in preparation for hydrometallurgical testing.
the sample preparation technique.
Quality control procedures adopted for all sub-
sampling stages to maximize representivity of samples.
Measures taken to ensure that
the sampling is representative of the in situ material
collected, including for instance results for field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain
size of the material being sampled.
Quality of assay
data and laboratory
tests
The nature, quality and appropriateness of the assaying and SGS program liquors were analyzed for Cs, Rb, and Ga by ICP-MS and for all
laboratory procedures used and whether the technique is other reported elements by ICP-AES.
considered partial or total. SGS program solids were analyzed for Cs and whole rock (Al, Fe, Mg, etc.)
For geophysical tools, spectrometers, handheld XRF by XRF, S by LECO, and Rb and Ga on select samples by ICM-MS. Concentrate
instruments, etc, the parameters used in determining the was analyzed for multi-element (59) by ICP-OES/MS.
analysis including instrument make and model, reading times,
The Company has relied on the laboratory's internal QAQC.
calibrations factors applied and their derivation, etc.
Testwork methods are considered
Nature of quality control appropriate for the level of evaluation and results targeted.
procedures adopted (eg standards, blanks, duplicates,
external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been
established.
Verification of
sampling and
assaying
The verification of significant intersections by either N/A. No drill results reported.
independent or alternative company personnel. Adjustments to data include reporting caesium, and rubidium in their oxide
The use of twinned holes. forms, as it is reported in elemental form in the assay certificates.
Documentation of primary data, data Formulas used are Cs2O = Cs x 1.0602 and Rb2O = Rb x 1.0936.
entry procedures, data verification, data storage (physical
and electronic) protocols.
Discuss any adjustment to assay data.
Location of data
points
Accuracy and quality of surveys used to locate drill holes
(collar and down-hole surveys), trenches, mine workings and
other locations used in Mineral Resource estimation.
Specification of the grid system
used.
Quality and
adequacy of topographic control.
N/A. No drill results reported.
Data spacing and
distribution
Data spacing for reporting of Exploration Results. Samples selected for the caesium extraction testwork were of pollucite
Whether the data spacing and concentrate produced by XRT ore sorting of composited drill core (half-
distribution is sufficient to establish the degree of core NQ) from the CV13 Pegmatite's Vega Zone.
geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and
classifications applied.
Whether sample compositing has been applied.
Orientation of data
in relation to
geological
structure
Whether the orientation of sampling achieves unbiased
sampling of possible structures and the extent to which this
is known, considering the deposit type.
If the relationship between the drilling
orientation and the orientation of key mineralized
structures is considered to have introduced a sampling bias,
this should be assessed and reported if material.
N/A. No drill results reported.
Sample security
The measures taken to ensure sample security. The sample for testwork remained under the custody of SGS Canada Inc. and
KTS as they also completed the testwork and geochemical analysis as
relevant.
Audits or reviews
The results of any audits or reviews of sampling techniques A review of the sample procedures for the Company's drill programs has been
and data. reviewed by several Qualified/Competent Persons through multiple NI 43-
101 technical reports completed for the Company and deemed adequate and
acceptable to industry best practices. The most recent Technical Report
includes a review of sampling techniques and data through 2024 (drill hole
CV24-787) in a technical report titled "CV5 Pegmatite Lithium-Only
Feasibility Study NI 43-101 Technical Report, Shaakichiuwaanaan Project"
with an Effective Date of October 20, 2025, and Issue Date of November 14,
2025.
Additionally, the Company
continually reviews and evaluates its procedures in order to optimize and
ensure compliance at all levels of sample data collection and handling.
Section 2 - Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and land
tenure status
Type, reference name/number, location and The Shaakichiuwaanaan Property (formerly called "Corvette") is comprised of 463
ownership including agreements or material issues Exclusive Exploration Rights ("EERs") located in the James Bay Region of Quebec,
with third parties such as joint ventures, with Lithium Innova Inc. (wholly owned subsidiary of PMET Resources Inc.) being the
partnerships, overriding royalties, native title registered title holder. The northern border of the Property's primary claim block
interests, historical sites, wilderness or is located within approximately 6 km to the south of the Trans-Taiga Road and
national park and environmental settings. powerline infrastructure corridor. The CV5 lithium-caesium-tantalum ("LCT")
The security of the Pegmatite is accessible year-round by all-season road is situated approximately
tenure held at the time of reporting along with 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline
any known impediments to obtaining a licence to infrastructure. The CV13 LCT pegmatite is located <3 km west-southwest of CV5.
operate in the area.
The Company holds 100% interest in the Property
subject to various royalty obligations depending on original acquisition
agreements. DG Resources Management holds a 2% NSR (no buyback) on 76 claims,
D.B.A. Canadian Mining House holds a 2% NSR on 50 claims (half buyback for $2M), OR
Royalties holds a sliding scale NSR of 1.5-3.5% on precious metals, and 2% on all
other products, over 111 claims, and Azimut Exploration holds 2% NSR on 39 claims.
The Property does not overlap any atypically
sensitive environmental areas or parks, or historical sites to the knowledge of the
Company. There are no known hinderances to operating at the Property, apart from
the goose harvesting season (typically mid-April to mid-May) where the
communities request helicopter flying not be completed, and potentially wildfires
depending on the season, scale, and location.
Claim expiry dates range from September 2026 to July 2028.
Exploration done by other
parties
Acknowledgment and appraisal of exploration by No previous exploration targeting LCT pegmatites has been conducted by other parties
other parties. at the Project.
For a summary of previous
exploration undertaken by other parties at the Project, please refer to the most
recent NI 43-101 Technical Report.
Geology
Deposit type, geological setting and style of The Property overlies a large portion of the Lac Guyer Greenstone Belt, considered
mineralization. part of the larger La Grande River Greenstone Belt and is dominated by volcanic
rocks metamorphosed to amphibolite facies. The claim block is dominantly host to
rocks of the Guyer Group (amphibolite, iron formation, intermediate to mafic
volcanics, peridotite, pyroxenite, komatiite, as well as felsic volcanics). The
amphibolite rocks that trend east-west (generally steeply south dipping) through
this region are bordered to the north by the Magin Formation (conglomerate and
wacke) and to the south by an assemblage of tonalite, granodiorite, and diorite, in
addition to metasediments of the Marbot Group (conglomerate, wacke). Several
regional-scale Proterozoic gabbroic dykes also cut through portions of the
Property (Lac Spirt Dykes, Senneterre Dykes).
The geological setting is prospective for multiple commodities over several
different deposit styles including orogenic gold (Au), volcanogenic massive
sulphide (Cu, Au, Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and LCT
pegmatite (Li, Cs, Ta, Ga, Rb).
Exploration of
the Property has outlined three primary mineral exploration trends crossing
dominantly east-west over large portions of the Property - Golden Trend (gold),
Maven Trend (copper, gold, silver), and CV Trend (lithium, caesium, tantalum). The
CV4, CV5, and CV13 pegmatites are situated within the CV Trend.
The pegmatites at Shaakichiuwaanaan are categorized as Li-Cs-Ta
("LCT") pegmatites. LCT mineralization at the Property is observed to occur within
quartz-feldspar pegmatite. The pegmatite is often very coarse-grained and off-
white in appearance, with darker sections commonly composed of mica and smoky
quartz, and occasional tourmaline.
Core assays
and ongoing mineralogical studies, coupled with field mineral identification and
assays confirm spodumene as the dominant lithium-bearing mineral on the Property,
with no significant petalite, lepidolite, lithium-phosphate minerals, or apatite
present. The spodumene crystal size of the pegmatites is typically decimeter scale,
and therefore, very large. The pegmatites also carry significant tantalum
(tantalite) and caesium (pollucite). Gallium is present in spodumene and feldspar
via substitution with Al.
Drill hole Information
A summary of all information material to the
understanding of the exploration results
including a tabulation of the following
information for all Material drill holes:
easting and
northing of the drill hole collar
elevation or RL
(Reduced Level - elevation above sea level in
metres) of the drill hole collar
dip and azimuth of
the hole
down hole length and interception depth
hole
length.
If the exclusion of this
information is justified on the basis that the
information is not Material and this exclusion
does not detract from the understanding of the
report, the Competent Person should clearly
explain why this is the case.
N/A. No drill results reported.
Data aggregation methods
In reporting Exploration Results, weighting
averaging techniques, maximum and/or minimum
grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should
be stated.
Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths
of low grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown in
detail.
The
assumptions used for any reporting of metal
equivalent values should be clearly stated.
N/A. No drill results reported.
Relationship between
mineralization widths and
intercept lengths
These relationships are particularly important in
the reporting of Exploration Results.
If the geometry of the
mineralization with respect to the drill hole
angle is known, its nature should be reported.
If it is not
known and only the down hole lengths are
reported, there should be a clear statement to
this effect (eg 'down hole length, true width not
known').
N/A. No drill results reported.
Diagrams
Appropriate maps and sections (with scales) and Please refer to the figures included herein as well as those posted on the Company's
tabulations of intercepts should be included for website.
any significant discovery being reported. These
should include, but not be limited to a plan view
of drill hole collar locations and appropriate
sectional views.
Balanced reporting
Reporting is balanced.
Where comprehensive reporting of all Exploration
Results is not practicable, representative
reporting of both low and high grades and/or
widths should be practiced to avoid misleading
reporting of Exploration Results.
Other substantive
exploration data
Other exploration data, if meaningful and The Company is currently completing site environmental work over the CV5 and CV13
material, should be reported including (but not pegmatite area. No endangered flora or fauna have been documented over the Property
limited to): geological observations; geophysical to date, and several sites have been identified as potentially suitable for mine
survey results; geochemical survey results; bulk infrastructure.
The Company has completed a
samples - size and method of treatment; bathymetric survey over the shallow glacial lake which overlies a portion of the
metallurgical test results; bulk density, CV5 Spodumene Pegmatite. The lake depth ranges from <2 m to approximately 18 m,
groundwater, geotechnical and rock although the majority of the CV5 Spodumene Pegmatite, as delineated to date, is
characteristics; potential deleterious or overlain by typically <2 to 10 m of water.
The
contaminating substances. Company has completed significant metallurgical testing comprised of HLS, DMS, and
magnetic testing, which has produced 5.5+% Li2O spodumene concentrates at >70%
recovery on both CV5 and CV13 pegmatite material. DMS pilots on CV5 Pegmatite
material (collectively totaling >10 tonnes), including with non-pegmatite
dilution, produced spodumene concentrates ranging in grade from 5.6% to 6.6% Li2O
and recovery from 69% to 89% results, confirming a DMS-only flowsheet is
applicable.
The Company has also produced a
marketable lithium hydroxide concentrate from CV5's spodumene concentrate.
The Company has produced marketable tantalite
concentrates at bench-scale from the CV5 Pegmatite's DMS (spodumene) tailings
fractions. The testwork used gravity or gravity + flotation methods to produce
tantalite concentrates grading 8.7% Ta2O5 at 45% global recovery (MC001) and 6.6%
Ta2O5 at 49% global recovery (MC002).
The
Company has produced marketable pollucite concentrates at bench-scale from the
CV13 Pegmatite's Vega Caesium Zone. The testwork used XRT ore sorting to produce
concentrates of 11.5% Cs2O and 20.0% Cs2O at an overall 88% recovery.
The Company has demonstrated efficient extraction of caesium
from pollucite concentrates (12% Cs2O) with >97% recovery.
Various mandates required for advancing the Project have been completed
or are ongoing, including but not limited to, environmental baseline, metallurgy,
geomechanics, hydrogeology, hydrology, stakeholder engagement, geochemical
characterization, as well as transportation and logistical studies. A Feasibility
Study for lithium-only on the CV5 Pegmatite was announced October 20, 2025.
Furthork
The nature and scale of planned further work (eg The Company intends to continue drilling the pegmatites of the Shaakichiuwaanaan
tests for lateral extensions or depth extensions Property, primarily targetting lithium, caesium, and tantalum as the primary
or large-scale step-out drilling). commodities of interest. This is anticipated to include step-out and infill
Diagrams clearly drilling.
Further drilling is anticipated to
highlighting the areas of possible extensions, support the development of the CV5 and CV13 pegmatites (i.e., resource,
including the main geological interpretations and geotechnical, geomechanical, and hydrogeological).
future drilling areas, provided this information Metallurgical test programs evaluating the recovery of lithium, caesium, and
is not commercially sensitive. tantalum are ongoing.
Surface prospecting, rock
sampling, and mapping is planned to continue across the Property focused on LCT
pegmatite.
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SOURCE PMET Resources Inc.
