PMET Resources Inc. (TSX: PMET) submitted an Environmental and Social Impact Assessment for its Shaakichiuwaanaan lithium project to federal and provincial authorities on March 31, 2026, the company announced.

The federal Impact Assessment Agency of Canada deemed the submission complete and initiated public consultations scheduled to close May 28, 2026. The provincial submission is under review through the COMEX/COMEV process.

The company is advancing an updated feasibility study for the CV5 lithium-tantalum deposit and a preliminary economic assessment for the broader project including CV5 and CV13 deposits, targeting completion in the fourth quarter of 2026.

PMET applied for a bulk sample permit for approximately 50,000 tonnes from the underground portion of CV5, with feedback expected from COMEV in the second quarter. The company also submitted a power application to Hydro Quebec.

The Shaakichiuwaanaan project is located in the Eeyou Istchee James Bay region of Quebec, approximately 45 kilometers from Hydro Quebec's La Grande 4 substation. The project contains a mineral resource of 108.0 million tonnes at 1.40% lithium oxide indicated and 33.4 million tonnes at 1.33% lithium oxide inferred.

In late 2025, PMET completed a feasibility study for CV5 that outlined production of up to 800,000 tonnes per annum of spodumene concentrate using dense media separation processing.

The company's president Ken Brinsden said the project represents an opportunity for Quebec and Canada in the critical minerals supply chain, according to the press release.