Northwire Canada EditionThursday, November 12, 2026
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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Drill Results

Widest and Highest-Grade Caesium Intercepts to Date at Vega including 28.0 m at 8.05% Cs2O and 2.2 m at 26.48% Cs2O

PMET Bolsters By-Product Narrative with Record-Breaking Caesium Intercepts at Vega

By The Northwire Desk — AI Analysis Feb 03, 2026 · 17:00 PMET · 6.48 PMET Resources Inc.
Executive Summary

The February 3, 2026, news release reports the widest and highest-grade caesium intercepts to date at the Vega Zone within the Shaakichiuwaanaan Property. Significant drill results from the 2025 campaign include: - Hole CV25-948: 28.0 m at 8.05% Cs2O (including 116.5m to 144.5m). - Hole CV25-1006: 5.5 m at 14.83% Cs2O, including a high-grade core of 2.2 m at 26.48% Cs2O. - Peak assay sample: 29.79% Cs2O. - Footprint Expansion: Mineralization has been expanded at the Vega and Rigel zones, and a new high-grade zone named "Helios" has been confirmed. - Program Status: 8,596 meters of caesium assays have been reported, with 1,176 meters (7 holes) still pending.

Material Impact

This news is Material - Positive and serves as a critical valuation "booster" for the project's overall economics. - Economic Integration: The lithium-only Feasibility Study (October 2025) showed an after-tax IRR of 18.1%. While positive, an 18% IRR for a project with a $1.98 billion CAD capital cost is considered "tight" by institutional standards. The addition of high-grade caesium—a rare and high-value metal—as a by-product or co-product is expected to significantly improve the NPV and IRR in the upcoming H2 2026 revised study. - Resource Dominance: PMET is positioning Shaakichiuwaanaan as the world’s largest pollucite-hosted caesium deposit. Given that global supply is extremely constrained (historical mines in Zimbabwe and Australia are exhausted), PMET is moving from a "lithium play" to a "strategic critical minerals play." - Strategic Valuation: High-grade caesium metal trades at prices comparable to gold in refined form. Intercepts of 26-29% Cs2O are exceptionally rare and suggest simple, low-cost processing (XRT ore sorting) as demonstrated in previous metallurgical news.

PMET · Price
Company Overview

PMET Resources (formerly Patriot Battery Metals) owns 100% of the Shaakichiuwaanaan Project in the James Bay region of Quebec. - Flagship Project: Shaakichiuwaanaan is the largest lithium pegmatite resource in the Americas and top 10 globally. - Resource: Consolidated Indicated Resource of 108.0 Mt at 1.40% Li2O and Inferred Resource of 33.4 Mt at 1.33% Li2O. - Strategy: Staged development targeting 800ktpa of spodumene concentrate. The project is unique due to its size and the presence of significant caesium, tantalum, and gallium enrichment.

Read the original news release →

More from PMET Resources Inc.

Nov 10, 2026 · 16:47

PMET’s CV5 FS adds tantalum and cuts LOM opex by 19%, yielding an NPV of CA$5.1B on a higher price deck.

Technical Study Nov 03, 2026 · 17:08

PMET upgrades caesium resource at Shaakichiuwaan, reinforcing multi-commodity upside potential at the deposit.

Resource Estimate Oct 28, 2026 · 13:08

Federal road funding de-risks Shaakichiuwaanaan access, but catalysts remain distant.

Other Oct 20, 2026 · 17:00

PMET’s Shaakichiuwaanang drill program surpasses 30,000m, advancing the feasibility study timeline for its project.

Drill Results Oct 04, 2026 · 17:00

pmet signs a letter of intent for a rail link to de-risk logistics for its 800ktpa shaakichiuwaanaan project.

Other Sep 22, 2026 · 17:00

PMET advances caesium co-product pathway through testwork, though commercialization remains distant.

Technical Study