07:56 AM EDT, 09/13/2024 (MT Newswires) -- Patriot Battery Metals ( PMETF ) said overnight Thursday that it filed a National Instrument 43-101 technical report for the preliminary economic assessment on its Shaakichiuwaanaan project in Quebec.

The initial economic study outlined an after-tax net present value of $2.9 billion based on an 8% discount rate, with a 34% internal rate of return.

The technical report also supported a resource estimate at the project.

The company's share price jumped 8.5% yesterday on the TSX.