en.Wedoany.com Reported - PMET Resources Inc. of Canada has signed a non-binding letter of intent with the Cree Nation of Chisasibi regarding the company's wholly-owned Shaakichiuwaanaan lithium project. The project is located on Category III lands within the traditional territory of Chisasibi in the Eeyou Istchee James Bay region of Quebec, Canada.
The letter of intent aims to describe the process for engagement, information sharing, and discussions between PMET and Chisasibi during the participation and assessment period, supporting analysis, dialogue, and learning so that Chisasibi can determine, through its own governance and decision-making processes, whether and on what basis to further participate. The letter of intent does not constitute consent, approval, or endorsement of the Shaakichiuwaanaan project.
Ken Brinsden, CEO and Managing Director of PMET, stated that the company has been engaging with Chisasibi regarding project exploration activities since 2022, including community consultations and local employment initiatives. In 2025, approximately 25% of the on-site workforce is from the Cree Nation. The letter of intent provides a framework for continued engagement, discussion, and information sharing while respecting Chisasibi's own governance and decision-making processes.
The Shaakichiuwaanaan project is located in the Eeyou Istchee James Bay region of Quebec, Canada, accessible year-round via all-weather roads and situated near regional hydroelectric infrastructure. At the end of 2025, the company released a lithium-only feasibility study for the project's CV5 pegmatite, reporting probable reserves of 84.3 million tonnes at a Li₂O grade of 1.26%. The study outlines the potential to produce approximately 800,000 tonnes per year of spodumene concentrate through a simple heavy media separation process. The project's combined mineral resources show indicated resources of 108 million tonnes at 1.40% Li₂O and 166 ppm Ta₂O₅, and inferred resources of 33.4 million tonnes at 1.33% Li₂O and 155 ppm Ta₂O₅, ranking among the world's top ten lithium pegmatite deposits by scale. The project also hosts the world's largest pollucite-type cesium pegmatite mineral resource in the Rigel and Vega zones, with indicated resources of 690,000 tonnes at 4.40% Cs₂O and inferred resources of 1.7 million tonnes at 2.40% Cs₂O.
PMET Resources is a pegmatite critical minerals exploration and development company focused on advancing its wholly-owned Shaakichiuwaanaan asset.
