Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to provide additional information from its recently concluded winter/spring component of the 2022 drill campaign at its wholly owned Corvette Property (the “Property”). The area of drilling focus along the CV Lithium Trend is located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure, within the James Bay Region of Quebec.
As outlined in news release dated April 21st, 2022, geological 3D modelling of the drill holes completed to date indicates that pegmatite continues across the lake from CV5 towards CV1 – a strike length of at least 1,400 m – and that the pegmatite body is widening at depth. The pegmatite body remains open to the southwest, the northeast, and at depth, with a significant portion of the overall corridor of focus – containing the CV6, CV5, CV11, CV2, CV1, CV4, and CV7 pegmatites – remaining to be drill tested (Figure 1). To date, the main pegmatite body has been traced to a vertical depth of a least 180 m (CV22-030) and additional pegmatite encountered down to a vertical depth of approximately 265 m (CV22-034). Analysis of drill core samples, collected from the 2022 holes, is pending. The Company is using SGS Canada (Lakefield, ON, and Burnaby, BC facilities) as their primary analytical lab.
A summary of drill holes completed to date in 2022, along with logged pegmatite intercepts greater than two (2) metres, are presented in Table 1. Drill hole locations and cross-sections, based on drill and surface data collected to date, are presented in Figures 1 and 2, respectively.
The final drill hole of the program, CV22-034, was paused in spodumene pegmatite (field identified) – and the drill put on temporary standby – to respect a regional pause in exploration activities as requested by the local communities to accommodate the goose hunting season. The exploration activities at Corvette will resume in early June, where drill hole CV22-034 will be continued.
Detailed planning is underway for the remaining approximately 15,000 m campaign to be completed over the summer/fall period. This drilling will focus on continued land-based infill and step-out holes around CV5-6 and CV1-2, as well as testing new regional targets (see news release dated March 8th, 2022). The Company has secured a third drill rig at Corvette for June/July, which will enable increased production during the summer/fall program. The third rig will also allow for a continued two rig focus at the CV5-CV1 drill corridor as well as provide a drill rig for consistent focus on regional spodumene pegmatite targets.
The aggressive 2022 drill campaign is being completed as a direct follow-up to the strong lithium-tantalum mineralization encountered in the first four (4) drill holes to test the CV5-6 pegmatite this past fall. Drill intercept highlights include 155.1 m at 0.94% Li2O and 117 ppm Ta2O5 (CF21-002), and 58.1 m at 1.25% Li2O and 194 ppm Ta2O5 (CF21-003) (see news releases dated January 27th and February 3rd, 2022).
The winter/spring phase of the 2022 drill campaign began in late February with two diamond drill rigs, which remain on site in preparation for the summer/fall phase of the drilling expected to commence in early June. A total of twenty (20) NQ size diamond drill holes (4,345 m) were completed during the winter/spring phase and included seventeen (17) holes collared over ice, and three (3) holes collared over land. The primary objective of the winter/spring drill program was to test for mineralized pegmatite along strike from surface outcrops, potentially connecting the CV5-6 pegmatites with the CV1-2 pegmatites, as well as testing the mineralization at depth. Geological modelling, based on drilling to date, indicates the target pegmatite has a strike length of at least 1,400 m and is widening at depth. All 2022 drill core analysis is pending, although spodumene has been field identified all1 2022 drill holes completed to date.
The Company notes that it has developed a COVID Management Plan for the program and will carry out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
Table 1: Pegmatite intercepts (> 2 m) logged in 2022 drill holes at the Corvette Property
Figure 1: 2022 drill hole collar locations
Figures 2A-2G: Series of cross-section interpretations based on drilling to date targeting the CV5 to CV1 pegmatite corridor. Blue colour is pegmatite. Core sample assay results are pending for all 2022 pegmatite intervals
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor, which is part of the more than 25-km long and Property-wide CV Lithium Trend. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop with drill intercepts of 155.1 m at 0.94% Li2O and 117 ppm Ta2O5 (CF21-002), and 58.1 m at 1.25% Li2O and 194 ppm Ta2O5 (CF21-003). Drilling indicates a pegmatite body approximating 60 m in true width (at CF21-001 and 003), and therefore considerably larger than that observed in outcrop. The high number of well-mineralized pegmatites in this core area of the trend indicate a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.
- No pegmatite or spodumene mineralization was logged in drill hole CV22-032. This hole was lost at depth due to drilling conditions, prior to reaching its target.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.
The Company’s flagship asset is the Corvette Property, which includes the wholly owned Corvette, FCI East, FCI West, Deca-Goose, Felix, and Corvette East claim blocks, located in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the CV5-6 spodumene pegmatite with drill intercepts of 0.94% Li2O and 117 ppm Ta2O5 over 155.1 m (CF21-002), and 1.25% Li2O and 194 ppm Ta2O5 over 58.1 m at (CF21-003). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.
The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective gold prospects – the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
|On Behalf of the Board of Directors,|
|“BLAIR WAY”||“ADRIAN LAMOUREUX”|
|Blair Way, President & Director||Adrian Lamoureux, CEO & Director|
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.