PMT has commenced its winter drilling program at Shaakichiuwaanaan. The program will deliver a minimum of 15,000m over the next three months, with the amount of drilling largely governed by weather conditions. Up to four drill rigs will be in operation during the winter. PMT indicated that the program will focus on extending the high-grade Vega Zone at CV13 to the west and test between the CV5 and CV13 pegmatites. Results from 98 holes drilled in the second half of 2024 have yet to be received and could provide additional near-term news flow. A maiden reserve and the release of the feasibility study is expected before the end of September this year and presents a key catalyst for PMT. We reiterate our BUY rating and A$1.00 and C$9.00 ASX and TSX price targets on PMT.
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