Darren L. Smith, Company Vice President of Exploration, comments: “The first core sample assays of our winter drill program have confirmed the extension of the high-grade Nova Zone to the east, including a 20 m intersection at greater than 5% Li2O in CV23-105. The lithium grades found in this zone are very significant, and include a 3 – 25 m thick (core length) band of greater than 5% Li2O over a significant strike length of 200+ m. The Company continues to delineate the Nova Zone and the overall CV5 Pegmatite, which remains open along strike at both ends and to depth along most of its length. The size of the CV5 Pegmatite has grown substantially through the winter drill program completed to date, and the results announced today further affirms Corvette as a globally significant hard rock lithium pegmatite project.”
Patriot Battery Metals Inc. (TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce core assays for sixteen holes completed as part of the 2023 winter drill program currently underway at its wholly owned Corvette Property, located in the James Bay Region of Quebec. The winter phase of the drill campaign is focused on the CV5 Pegmatite, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
The sixteen drill holes (NQ core size – 47.6 mm inside diameter) reported herein targeted the eastward extension of the high-grade Nova Zone (25.0 m at 5.04% Li2O in CV22-083) situated in the eastern area of the currently defined CV5 Pegmatite (Figure 1) (see news release dated January 29, 2023). The recent drilling is interpreted to have extended this zone along strike by approximately 400 m, through high-grade mineralized intersections in drill holes CV23-105 (83.7 m at 3.13% Li2O including 19.8 m at 5.28% Li2O), CV23-106 (11.2 m at 2.99% Li2O and 6.0 m at 2.92% Li2O), CV23-107 (37.1 m at 2.09% Li2O or 3.0 m at 5.43% Li2O), and CV23-108 (26.6 m at 2.44% Li2O or 5.0 m at 4.30% Li2O). The Nova Zone has now been traced in multiple drill holes over a strike length of approximately 750 m (CV22-017 to CV23-108), with geological modelling supporting a continuous spodumene mineralized zone of variable thickness, at grades of 2 – 5+% Li2O, occurring between vertical depths of approximately 125 to 325 m. The high-grade Nova Zone includes an extremely high-grade sub-zone that is an approximate 3 – 25 m thick (core length) band of 5+% Li2O spodumene pegmatite that has been traced (at 100 m drill spacing) over a minimum 200 m strike length between drill holes CV22-083, 093, and CV23-105.
The intersections in drill holes CV22-093 and CV23-105, located 100 m along strike of each other, illustrates the swell and pinch nature of pegmatite intrusive systems. Drill hole CV22-093 returned an aggregate pegmatite intersection of 81 m, including a continuous intersection of 52 m, while drill hole CV23-105 returned an aggregate pegmatite intersection of 152 m, including a continuous intersection of 84 m. Additionally, grades returned in drill hole CV23-109, which tested the pegmatite closer to surface above hole CV23-105, illustrate how relatively low to moderate grade lithium pegmatite (i.e., CV23-109 – 60.1 m at 0.23% Li2O, including 6.5 m at 0.90% Li2O) may be located in close proximity to very high-grade lithium pegmatite (i.e., CV23-105 – 83.7 m at 3.13% Li2O including 19.8 m at 5.28% Li2O). Both of these attributes are typical of lithium pegmatite intrusions (swelling, pinching, and zonation) and are applicable to the intersection in drill hole CV23-125 (29.8 m at 0.14% Li2O) marking the eastern end of the current drilling to date, where, coupled with encouraging indicator mineralogy as is present, suggest strong potential for the system to continue at favourable grades.
Six drill rigs are actively coring at the CV5 Pegmatite and will continue to operate until approximately April 20th where drilling activities will be paused as requested by the local communities to accommodate the goose harvesting season. The exploration activities at Corvette will resume in late May for the summer-fall portion of the 2023 drill campaign. Drill core processing and sample shipments to the analytical lab (SGS) will continue without disruption.
The primary objectives of the 2023 drill campaign are to further delineate the extent of the CV5 Pegmatite culminating in an initial mineral resource estimate scheduled for Q2 2023, as well as infill drilling to refine the geological model to achieve indicated mineral resource confidence to support a Pre-Feasibility Study. Based on drill holes completed through March 20, 2023, the CV5 Pegmatite has now been traced continuously by drilling (at ~50-150 m spacing) over a lateral distance of at least 3.15 km (CV22-074 to CV23-125), remaining open along strike at both ends and to depth along most of its length.
Core samples for twenty-seven additional drill holes have arrived at the analytical lab (SGS) with core processing ongoing at site. Core sample assay results for the sixteen (16) drill holes reported herein are presented in Table 1. Drill holes attributes were previously presented in Table 2 of news release dated March 23, 2023.
Table 1: Mineralized drill intercept summary for drill holes reported herein as part of the 2023 winter program
Figure 1: Drill hole locations completed through March 20, 2023, at the CV5 Pegmatite
Figure 2: High-grade lithium pegmatite intersection in drill hole CV23-105 – 19.8 m at 5.28% Li2O (red box)
Figure 3: Spodumene in pegmatite from drill hole CV23-105 (top), and high-grade lithium pegmatite intersection in drill hole CV23-115 (bottom) – 1.3 m at 6.53% Li2O (blue box)
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 3.15 km long spodumene pegmatite (the ‘CV5 Pegmatite’) and multiple proximal secondary spodumene pegmatite lenses. This corridor has returned drill intercepts of 156.9 m at 2.12% Li2O, including 25.0 m at 5.04% Li2O or 5.0 m at 6.36% Li2O (CV22-083), 159.7 m at 1.65% Li2O (CV22-042), 131.2 m at 1.96% Li2O (CV22-100), and 83.7 m at 3.13% Li2O including 19.8 m at 5.28% Li2O (CV23-105).
To date, six distinct clusters of lithium pegmatite have been discovered across the Property – CV5 Pegmatite and associated lenses, CV4, CV8-12, CV9, CV10, and the recently discovered CV13. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite ‘outcrop’ subsurface. Further, the high number of well-mineralized pegmatites along 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.
The information in this news release that relates to exploration results for the Corvette Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 1968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.
Mr. Smith is Vice President of Exploration for Patriot Battery Metals Inc. and a Senior Geologist and Project Manager with Dahrouge Geological Consulting Ltd. Mr. Smith holds common shares and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the JORC Code, 2012. Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.
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 100% owned Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the 3.15 km long CV5 spodumene pegmatite with drill intercepts of 156.9 m at 2.12% Li2O, including 25.0 m at 5.04% Li2O or 5.0 m at 6.36% Li2O (CV22-083), 159.7 m at 1.65% Li2O (CV22-042), 131.2 m at 1.96% Li2O (CV22-100), and 83.7 m at 3.13% Li2O including 19.8 m at 5.28% Li2O (CV23-105). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 7 m at 10.5 g/t Au 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 12 m at 4.11 g/t Au and 33.0 g/t Ag, 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.
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