PMET Advances Shaakichiuwaanaan Development with more than 30,000 m 2026 Drill Program
PMET’s Shaakichiuwaanang drill program surpasses 30,000m, advancing the feasibility study timeline for its project.
PMET Resources Inc. (PMET) has completed more than 30,000 meters of drilling across over 250 holes at its Shaakichiuwaan Project since June 2026. Seven drill rigs remain active, concentrating on geotechnical, hydrogeological, and infill drilling at the CV5 and CV13 pegmatites.
The drilling program is designed to derisk development and support detailed engineering efforts. Data from the program will feed into an updated Mineral Resource Estimate (MRE-5) and an updated Feasibility Study for lithium-tantalum at CV5, as well as a Preliminary Economic Assessment (PEA) for the broader project.
Assay results are expected in Q1 2027, with the updated studies targeted for release in Q4 2026. Additionally, the BerryPick program has collected at least 7 tons of pollucite pegmatite samples for XRT ore-sorting testwork scheduled for early 2027.
PMET Resources Inc. released a routine operational update that aligns with its previously announced 2026 drilling plan, which targets 45,000 meters as set out in May 2026. Progress remains on track with no material surprises or delays reported. The update reinforces the company’s path toward the Q4 2026 release of the updated Feasibility Study and PEA, which are critical milestones toward a Final Investment Decision (FID) targeted for late 2027. The incremental nature of the news means it is unlikely to cause a significant immediate price movement, but it maintains positive momentum for the development timeline.
PMET Resources Inc. (PMET) is a critical minerals developer focused on the 100%-owned Shaakichiuwaan Project in Quebec, Canada. The project is a district-scale Lithium-Caesium-Tantalum (LCT) pegmatite deposit.
The CV5 Pegmatite hosts a maiden Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O. The CV13 Pegmatite hosts the world's largest in-situ pollucite-hosted caesium resource (0.69 Mt Indicated at 4.40% Cs2O) and significant lithium-tantalum resources.
The project targets up to ~800,000 tonnes per annum of spodumene concentrate using a Dense Media Separation (DMS) flowsheet, with potential for downstream lithium carbonate refining and co-product recovery (tantalum, caesium). The company aims for a Final Investment Decision by late 2027, with commercial production targeted for 2030.