PMT has announced some impressive results from drilling at the CV13 pegmatite. The high-grade core of CV13 has been named the Vega Zone and boasts intersections of 11.1m @ 4.33% Li2O, and 12.9m @ 3.06% Li2O. The Vega Zone has now been defined over 300m of strike and sits just 100m below surface. Further drilling results from CV13 are due shortly and we believe the deposit is shaping up as a potential early ore feed for the Corvette project. PMT will now target follow up drilling to the east and northeast targeting the Vega Zone. The update to the resource estimate, which should include CV13 for the first time, is due by August 2024. We are reiterating our BUY rating on PMT/PMET and our ASX and TSX price targets of A$1.70 and C$15.50.
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