VANCOUVER, BC, Dec. 17,
2023 /CNW/ - December 18,
2023 – SYDNEY,
Australia
Highlights
- Patriot continues to intersect well-mineralised zones in
step-out drilling at the CV5 Pegmatite, with highlights:
- 56.6 m at 1.37% Li2O and
9.9 m at
3.58% Li2O (CV23-231).
- 50.1 m at 1.17% Li2O, 38.0 m at 1.44% Li2O, and
17.2 m at
2.20% Li2O (CV23-223).
- 48.4 m at 1.21% Li2O, including
11.0 m at
3.42% Li2O (CV23-211).
- 29.2 m at 1.35% Li2O, including
8.4 m at
3.50% Li2O (CV23-240).
- 25.6 m at 1.98% Li2O and
33.4 m at
0.80% Li2O (CV23-222).
- Patriot continues to intersect well-mineralised zones in
step-out drilling at the CV13 Pegmatite, with highlights:
- 19.2 m at 1.74%
Li2O (CV23-215).
- 14.8 m at 1.36%
Li2O (CV23-210).
- A total of 177 holes, for approximately 45,700 m, has been
completed over the summer-fall program. Assay results for 27 holes
are reported herein. Assays remain to be reported for
more than 125 drill holes, including ~1.5 km of prospective
pegmatite trend across the CV5 and CV13 pegmatites.
- The Company is currently working to process a backlog of core,
due to wildfires and prioritization of drilling staff in
accommodation. Core processing is continuing at site and is
expected to continue through to the holidays to clear the remaining
backlog.
- Going forward the Company will only report pegmatite drill
intercepts at the same time as the respective core assays are
announced, in compliance with applicable ASX and TSX-V rules.
The change is intended to allow for reporting of results in the
most appropriate manner available between the ASX and TSX
regulatory regimes.
- The CV5 Spodumene Pegmatite has been traced to a 4.35
km strike length, which remains open along strike and at depth
(see news release dated September 24,
2023) – drill results for an additional 0.25 km of
prospective strike length remain to be reported.
- The CV13 Spodumene Pegmatite has been traced to a ~1.1
km strike length, which remains open along strike and at depth
(see news release dated October 18,
2023) – drill results for an additional ~1.2 km of
prospective strike length remain to be reported.
- The CV9 Spodumene Pegmatite has been traced to a 0.45 km
strike length following initial drill testing, which remains
open along strike and at depth (see news released dated
November 22, 2023).
- Multiple spodumene pegmatite outcrop clusters remaining to
be drill tested – CV4, CV8, CV10, and CV12 (only 1 shallow hole
completed to date).
Blair Way, Company President,
CEO, and Director, comments: "It is hard to understate the
success of the 2023 drill campaign, including our recently
completed summer-fall program. In addition to underpinning a maiden
mineral resource estimate mid year, which established CV5 as a
world class deposit and one of the largest lithium pegmatites
globally, we have extended the strike length of CV5 to 4.35 km with
drill results over additional prospective strike remaining to be
reported. Further, drilling this summer-fall at CV13 has confirmed
continuous pegmatite of at least 1.1 km in strike length with
drill results for an additional 1.2 km of prospective strike
remaining to be reported, and initial drill testing at CV9 has
outlined a potentially large and fertile pegmatite over at least
450 m of strike length. The 2023 program has firmly
demonstrated the world class scale of the system at Corvette, and
is poised for continued growth over the next few months as
additional assays from the program are reported."
Patriot Battery Metals Inc. (the "Company" or "Patriot")
(TSXV: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased
to announce further drill results, as well as completion of the
final hole of its 2023 drill campaign at the Corvette Property with
core processing continuing at site. The Corvette Property (the
"Property" or "Project"), wholly owned by the Company, is located
in the Eeyou Istchee James Bay region of Quebec. The 2023 drill campaign included holes
completed at the CV5, CV13, and CV9 pegmatites. The CV5 Spodumene
Pegmatite, with a maiden mineral resource estimate of 109.2 Mt at
1.42% Li2O inferred1, is situated
approximately 13.5 km south of the regional and all–weather
Trans-Taiga Road and powerline infrastructure. The CV13 and CV9
spodumene pegmatites are located approximately 3 km
west-southwest and 14 km west of CV5, respectively (Figure 1).
A total of 266 holes, for approximately 78,100 m of coring, have been completed over the
2023 drill campaign. Of this, 177 holes, totalling approximately
45,700 m, have been completed during
the summer-fall program – 82 holes (~26,600 m) at CV5, 74 holes
(~14,900 m) at CV13, 18 holes (~4,050 m) at CV9, and 3 holes
(~150 m) at the KM-270 camp. Collectively, to date, the Company has
now completed over 350 drill holes, totalling approximately
105,500 m, targeting lithium
pegmatite across the Property.
The Company continues to process drill core from the 2023
program on site and is expected to have core samples from the final
holes into the lab early in the new year. Going forward the Company
will only report pegmatite drill intercepts at the same time as the
respective core assays are announced, in compliance with applicable
ASX and TSX-V rules. The change is intended to allow for reporting
of results in the most appropriate manner available between the ASX
and TSX regulatory regimes.
Drill core sample assay results for 27 holes are reported
herein. Core sample assays for more than 125 holes completed
over the 2023 summer fall drill program remain to be
announced.
CV5 Pegmatite
New drill results reported herein continue to demonstrate that
the CV5 Spodumene Pegmatite remains well mineralized over its
previously announced western extension (see news release dated
September 24, 2023), and outside of
the June 2023 mineral resource
estimate block model (see news released dated July 30, 2023). Results are presented in Table
1 and include:
- 56.6 m at 1.37%
Li2O and 9.9 m at
3.58% Li2O (CV23-231).
- 50.1 m at 1.17%
Li2O, 38.0 m at
1.44% Li2O, and 17.2
m at 2.20% Li2O (CV23-223).
- 48.4 m at 1.21%
Li2O, including 11.0
m at 3.42% Li2O (CV23-211).
- 29.2 m at 1.35%
Li2O, including 8.4
m at 3.50% Li2O (CV23-240).
- 25.6 m at 1.98%
Li2O and 33.4 m at
0.80% Li2O (CV23-222).
Very strong grades over material widths are present over the
western extension at CV5, including at least four (4) intervals of
5+ m at 3.4+% Li2O (drill holes CV23-208, 211,
231, and 240) in assays reported to date. Further drill delineation
of the area is a high priority for the Company. Geological
cross-section interpretations for two fences of drill holes
completed over the western extension are presented in Figure 2.
Additionally, infill drilling at CV5 continues to return wide
and well-mineralized spodumene pegmatite intercepts. Results
announced herein include 67.1 m at
1.56% Li2O, including 13.0
m at 3.44% Li2O (CV23-241), and
63.0 m at 1.13%
Li2O (CV23-230).
With the 2023 summer-fall drill program now completed, the
Company has extended the CV5 Pegmatite to approximately 4.35 km
total strike length and remains open (see news release
dated September 24, 2023) with
drill results for an additional 0.25 km of prospective strike
length remaining to be reported (Figure 3). The CV5 maiden
mineral resource estimate (109.2 Mt at 1.42% Li2O,
inferred1) includes only ~3.4 km of the current 4.35 km
strike length, thereby outlining significant and tangible potential
for resource expansion. Already, the maiden mineral resource
estimate for CV5 denotes it as the largest lithium pegmatite
deposit in the Americas1 and is well positioned to
become an important source of spodumene for the growing
battery-supply chain of North America.
Collectively, the 2023 summer-fall program has drill tested an
additional 900 m of strike length
over the CV5 area with results reported for only 650 m of this. This drilling was completed in the
west as step-outs towards CV13, closing the gap remaining to be
drill tested between the two pegmatites to 2.9 km (Figure 4).
CV13 Pegmatite
At the CV13 Pegmatite, drill results continue to demonstrate a
well-mineralized upper pegmatite dyke of comparable widths to those
reported in drill hole in 2022. Drill results announced herein are
presented in Table 2 and include:
- 19.2 m at 1.74%
Li2O (CV23-215)
- 14.8 m at 1.36%
Li2O (CV23-210)
- 11.2 m at 1.02%
Li2O (CV23-235)
- 9.7 m at 1.07%
Li2O (CV23-213)
The lower pegmatite dyke remains more variably mineralized
compared to the upper dyke with results including 10.0 m at 0.83% Li2O (CV23-218). The
Company will continue to strategically test the lower pegmatite
dyke for abrupt thickening (i.e., a blow-out) coincident with the
presence of spodumene mineralization.
At CV13, the 2023 summer-fall drilling has extended the
pegmatite to approximately 1.1 km in strike length and
remains open (see news released dated October 18, 2023) with drill results for
an additional ~1.2 km of prospective strike length remaining
to be reported (Figure 5). The CV13 Pegmatite is currently
interpreted to be characterized by a principal "upper" dyke and a
secondary "lower" dyke, as well as several subordinate sub-parallel
dykes, and are collectively geologically modelled to be shallowly
dipping northerly. The principal dyke (the "upper" dyke) dips
typically between 20-25° and has been traced at depth to at least
300 m down-dip (vertical depth from
surface of ~140 m) and remains open.
CV9 Pegmatite
Further west at the Property, approximately 9.5 km
west-northwest of CV13, initial drill testing of the CV9 Pegmatite
has delineated a current strike length of at least 0.45 km and
remains open, with three (3) holes returning continuous pegmatite
intersections of 60+ m (see news released dated November 22, 2023) (Figure 6). The CV9 Pegmatite
is currently interpreted to consist of a single principal dyke,
which outcrops at surface, has a steep northerly dip, and is
moderately plunging to the east-southeast. Assays remain to be
reported for all drill holes completed at CV9 and are anticipated
to be received in late January / early February 2024.
2023 Drill Program Wrap-up and 2024
Winter Drill Program Plans
The 2023 summer-fall drill program, although hindered by
regional forest fires for multiple months, was highly
successful with a collective pegmatite strike length of at
least 5.9 km now defined – 4.35 km and open (CV5), 1.1 km and
open (CV13), and 0.45 km and open (CV9) – as well as results
pending over an additional 1.5 km of prospective strike length and
more than 125 drill holes. The pegmatite remains open along strike
at both ends at each of the CV5, CV13, and CV9 pegmatites, with
multiple spodumene pegmatite outcrop clusters remaining to be drill
tested – CV4, CV8, CV10, and CV12 (only 1 shallow hole completed to
date).
Core processing is continuing at site and is expected to
continue through to the holidays to clear the remaining backlog.
Core sample assays for the 2023 summer-fall program are anticipated
to be received and reported over the next 3 to 4 months and are
highly dependent on laboratory turn-around times. Results remain
to be reported for more than 125 drill holes completed over the
2023 summer-fall program, including approximately 1.5 km of
potentially new pegmatite strike length.
Drilling at the Property is scheduled to resume in early
January 2024 with a ramp up to ten
(10) drill rigs as well as an expansion to the core shack and
processing area to handle the larger volumes of core expected and
minimize future backlog. The objectives of the 2024 winter drill
program will be multi-pronged and focus on 1.) infill drilling of
the CV5 Pegmatite to support an upgrade in resource confidence from
the inferred category to the indicated category, 2.) continued
delineation of the CV13 Pegmatite, and 3.) potential continued
drill exploration at the CV9 Pegmatite and the approximate
80 m wide blowout of the dyke at
shallow depth.
Core sample assays for drill holes reported herein are presented
in Table 1 and Table 2 for all pegmatite intersections
>2 m. Locations and attributes for
all holes completed over the 2023 summer-fall drill program are
presented in Table 3.
|
Hole
ID
|
Substrate
|
Total
Depth
(m)
|
Azimuth
(°)
|
Dip
(°)
|
Easting
|
Northing
|
Elevation
(m)
|
Core
Size
|
Cluster
|
Comments
|
|
CV23-191
|
Land
|
308.2
|
170
|
-45
|
565125.9
|
5928034.9
|
432.4
|
NQ
|
CV13
|
|
|
CV23-192
|
Land
|
354.0
|
0
|
-90
|
570330.5
|
5930613.3
|
383.4
|
NQ
|
CV5
|
Hydrogeology
hole
|
|
CV23-193
|
Land
|
250.9
|
0
|
-90
|
569597.2
|
5930276.2
|
381.2
|
NQ
|
CV5
|
|
|
CV23-194
|
Land
|
282.0
|
0
|
-90
|
570802.4
|
5930731.5
|
382.1
|
NQ
|
CV5
|
Hydrogeology
hole
|
|
CV23-195
|
Land
|
308.0
|
0
|
-90
|
565125.7
|
5928035.6
|
432.3
|
NQ
|
CV13
|
|
|
CV23-196
|
Land
|
263.0
|
158
|
-45
|
569599.0
|
5930272.7
|
381.3
|
NQ
|
CV5
|
|
|
CV23-197
|
Land
|
254.0
|
158
|
-45
|
570803.1
|
5930728.3
|
382.0
|
NQ
|
CV5
|
Hydrogeology
hole
|
|
CV23-198
|
Land
|
98.0
|
140
|
-80
|
565126.2
|
5928036.0
|
432.4
|
NQ
|
CV13
|
|
|
CV23-199
|
Land
|
261.1
|
0
|
-90
|
570473.2
|
5930744.8
|
376.9
|
NQ
|
CV5
|
Hydrogeology
hole
|
|
CV23-200
|
Land
|
250.9
|
100
|
-45
|
565128.0
|
5928036.2
|
432.4
|
NQ
|
CV13
|
|
|
CV23-201
|
Land
|
385.8
|
158
|
-45
|
569015.1
|
5930242.6
|
390.3
|
NQ
|
CV5
|
|
|
CV23-202
|
Land
|
302.0
|
220
|
-45
|
565054.8
|
5927953.3
|
419.4
|
NQ
|
CV13
|
|
|
CV23-203
|
Land
|
374.0
|
158
|
-45
|
569121.0
|
5930244.3
|
396.1
|
NQ
|
CV5
|
|
|
CV23-204
|
Land
|
262.9
|
130
|
-80
|
565057.6
|
5927954.3
|
419.2
|
NQ
|
CV13
|
|
|
CV23-205
|
Land
|
353.0
|
158
|
-60
|
569015.0
|
5930242.8
|
390.2
|
NQ
|
CV5
|
|
|
CV23-206
|
Land
|
322.8
|
158
|
-60
|
569120.8
|
5930244.6
|
396.1
|
NQ
|
CV5
|
|
|
CV23-207
|
Land
|
278.0
|
140
|
-45
|
565058.1
|
5927953.0
|
419.0
|
NQ
|
CV13
|
|
|
CV23-208
|
Land
|
368.0
|
158
|
-45
|
568937.2
|
5930165.2
|
391.0
|
NQ
|
CV5
|
|
|
CV23-209
|
Land
|
434.0
|
158
|
-45
|
569043.4
|
5930314.1
|
384.9
|
NQ
|
CV5
|
|
|
CV23-210
|
Land
|
272.0
|
210
|
-55
|
564875.9
|
5927914.8
|
409.7
|
NQ
|
CV13
|
|
|
CV23-211
|
Land
|
425.0
|
158
|
-60
|
568937.1
|
5930165.5
|
391.0
|
NQ
|
CV5
|
|
|
CV23-212
|
Water
|
296.0
|
158
|
-45
|
571736.6
|
5931251.3
|
372.7
|
NQ
|
CV5
|
|
|
CV23-213
|
Land
|
209.0
|
200
|
-85
|
564876.6
|
5927915.3
|
409.7
|
NQ
|
CV13
|
|
|
CV23-214
|
Land
|
502.1
|
158
|
-55
|
569043.3
|
5930314.3
|
384.7
|
NQ
|
CV5
|
|
|
CV23-215
|
Land
|
215.0
|
150
|
-45
|
564878.4
|
5927914.4
|
409.5
|
NQ
|
CV13
|
|
|
CV23-216
|
Land
|
209.1
|
200
|
-75
|
564841.1
|
5927978.0
|
415.4
|
NQ
|
CV13
|
|
|
CV23-217
|
Land
|
329.0
|
158
|
-45
|
568751.3
|
5930093.9
|
390.0
|
NQ
|
CV5
|
|
|
CV23-218
|
Land
|
254.1
|
200
|
-45
|
564841.3
|
5927978.6
|
415.4
|
NQ
|
CV13
|
|
|
CV23-219
|
Land
|
380.1
|
158
|
-45
|
568848.3
|
5930136.9
|
394.8
|
NQ
|
CV5
|
|
|
CV23-220
|
Water
|
275.0
|
158
|
-45
|
571824.6
|
5931284.7
|
372.2
|
NQ
|
CV5
|
|
|
CV23-221
|
Land
|
218.0
|
0
|
-90
|
564841.4
|
5927979.0
|
415.3
|
NQ
|
CV13
|
|
|
CV23-222
|
Land
|
404.0
|
158
|
-65
|
568751.1
|
5930094.6
|
390.1
|
NQ
|
CV5
|
|
|
CV23-223
|
Land
|
428.0
|
158
|
-60
|
568848.3
|
5930137.2
|
394.9
|
NQ
|
CV5
|
|
|
CV23-224
|
Land
|
308.0
|
200
|
-45
|
564748.9
|
5928008.0
|
414.1
|
NQ
|
CV13
|
|
|
CV23-225
|
Water
|
452.0
|
158
|
-45
|
571936.0
|
5931267.6
|
372.2
|
NQ
|
CV5
|
|
|
CV23-226
|
Land
|
338.0
|
158
|
-45
|
568706.3
|
5930070.7
|
386.7
|
NQ
|
CV5
|
|
|
CV23-227
|
Land
|
237.5
|
200
|
-75
|
564749.1
|
5928009.1
|
414.2
|
NQ
|
CV13
|
|
|
CV23-228
|
Land
|
510.0
|
158
|
-80
|
568847.6
|
5930136.7
|
394.7
|
NQ
|
CV5
|
|
|
CV23-229
|
Land
|
254.1
|
200
|
-75
|
564657.3
|
5928047.4
|
412.2
|
NQ
|
CV13
|
|
|
CV23-230
|
Water
|
311.0
|
158
|
-45
|
570172.3
|
5930717.7
|
372.7
|
NQ
|
CV5
|
|
|
CV23-231
|
Land
|
359.0
|
158
|
-65
|
568706.0
|
5930071.1
|
386.6
|
NQ
|
CV5
|
|
|
CV23-232
|
Water
|
388.9
|
158
|
-45
|
572029.7
|
5931311.9
|
373.4
|
NQ
|
CV5
|
|
|
CV23-233
|
Land
|
179.0
|
200
|
-75
|
564561.0
|
5928082.7
|
411.1
|
NQ
|
CV13
|
|
|
CV23-234
|
Land
|
50.0
|
0
|
-90
|
572118.6
|
5944514.8
|
340.1
|
NQ
|
n/a
|
Infrastructure
hole
|
|
CV23-235
|
Land
|
203.2
|
200
|
-45
|
564560.9
|
5928082.2
|
411.0
|
NQ
|
CV13
|
|
|
CV23-236
|
Land
|
383.1
|
158
|
-45
|
568615.9
|
5930016.6
|
387.6
|
NQ
|
CV5
|
|
|
CV23-237
|
Land
|
49.9
|
0
|
-90
|
572042.1
|
5944459.6
|
341.0
|
NQ
|
n/a
|
Infrastructure
hole
|
|
CV23-238
|
Land
|
176.2
|
200
|
-45
|
564466.0
|
5928113.6
|
409.4
|
NQ
|
CV13
|
|
|
CV23-239
|
Land
|
50.0
|
0
|
-90
|
572043.2
|
5944575.3
|
337.9
|
NQ
|
n/a
|
Infrastructure
hole
|
|
CV23-240
|
Land
|
377.0
|
158
|
-45
|
568637.2
|
5930099.9
|
391.5
|
NQ
|
CV5
|
|
|
CV23-241
|
Water
|
418.9
|
158
|
-62
|
570172.4
|
5930717.8
|
372.6
|
NQ
|
CV5
|
|
|
CV23-242
|
Land
|
161.0
|
200
|
-75
|
564466.5
|
5928114.2
|
409.4
|
NQ
|
CV13
|
|
|
CV23-243
|
Land
|
395.0
|
158
|
-65
|
568615.8
|
5930017.1
|
387.4
|
NQ
|
CV5
|
|
|
CV23-244
|
Water
|
313.0
|
158
|
-45
|
572125.2
|
5931345.5
|
372.9
|
NQ
|
CV5
|
|
|
CV23-245
|
Land
|
61.6
|
200
|
-45
|
564339.9
|
5928050.1
|
405.0
|
NQ
|
CV13
|
Hole lost at
shallow
depth
|
|
CV23-245A
|
Land
|
142.9
|
200
|
-45
|
564339.9
|
5928050.1
|
405.0
|
NQ
|
CV13
|
|
|
CV23-246
|
Land
|
431.0
|
0
|
-90
|
570215.1
|
5930649.7
|
382.3
|
NQ
|
CV5
|
Hydrogeology
hole
|
|
CV23-247
|
Land
|
143.0
|
160
|
-55
|
554192.9
|
5930116.9
|
400.6
|
NQ
|
CV9
|
|
|
CV23-248
|
Land
|
466.1
|
158
|
-65
|
568636.9
|
5930100.4
|
391.6
|
NQ
|
CV5
|
|
|
CV23-249
|
Land
|
224.0
|
160
|
-45
|
564934.8
|
5927940.8
|
417.2
|
NQ
|
CV13
|
|
|
CV23-250
|
Land
|
116.0
|
200
|
-85
|
564340.5
|
5928051.4
|
405.0
|
NQ
|
CV13
|
|
|
CV23-251
|
Water
|
160.9
|
158
|
-45
|
570938.7
|
5930950.0
|
373.2
|
NQ
|
CV5
|
|
|
CV23-252
|
Water
|
281.0
|
158
|
-45
|
572214.3
|
5931370.1
|
372.2
|
NQ
|
CV5
|
|
|
CV23-253
|
Land
|
161.1
|
200
|
-45
|
564619.1
|
5927947.5
|
402.2
|
NQ
|
CV13
|
|
|
CV23-254
|
Land
|
203.0
|
250
|
-45
|
554191.4
|
5930116.9
|
400.5
|
NQ
|
CV9
|
|
|
CV23-255
|
Land
|
131.2
|
80
|
-45
|
564936.2
|
5927944.4
|
417.7
|
NQ
|
CV13
|
|
|
CV23-256
|
Water
|
296.2
|
158
|
-45
|
571043.3
|
5930964.1
|
372.1
|
NQ
|
CV5
|
|
|
CV23-257
|
Land
|
161.0
|
200
|
-85
|
564619.4
|
5927948.4
|
402.2
|
NQ
|
CV13
|
|
|
CV23-258
|
Land
|
296.0
|
0
|
-90
|
564935.3
|
5927944.3
|
417.6
|
NQ
|
CV13
|
|
|
CV23-259
|
Land
|
383.0
|
158
|
-45
|
568550.1
|
5930065.0
|
393.5
|
NQ
|
CV5
|
|
|
CV23-260
|
Water
|
260.0
|
158
|
-45
|
572336.8
|
5931379.7
|
372.1
|
NQ
|
CV5
|
|
|
CV23-261
|
Land
|
183.5
|
0
|
-45
|
554180.2
|
5930038.0
|
403.8
|
NQ
|
CV9
|
|
|
CV23-262
|
Land
|
245.1
|
0
|
-90
|
571313.5
|
5930901.0
|
377.6
|
NQ
|
CV5
|
Hydrogeology
hole
|
|
CV23-263
|
Land
|
86.0
|
200
|
-45
|
564434.5
|
5928018.3
|
401.2
|
NQ
|
CV13
|
|
|
CV23-264
|
Land
|
206.0
|
0
|
-75
|
554180.1
|
5930037.5
|
403.8
|
NQ
|
CV9
|
|
|
CV23-265
|
Water
|
278.0
|
158
|
-45
|
571134.0
|
5931003.5
|
372.3
|
NQ
|
CV5
|
|
|
CV23-266
|
Land
|
127.9
|
300
|
-65
|
565064.9
|
5928000.9
|
429.2
|
NQ
|
CV13
|
|
|
CV23-267
|
Land
|
186.0
|
60
|
-45
|
554183.5
|
5930037.4
|
403.8
|
NQ
|
CV9
|
|
|
CV23-268
|
Land
|
417.6
|
158
|
-65
|
568550.3
|
5930064.6
|
393.4
|
NQ
|
CV5
|
|
|
CV23-269
|
Land
|
83.0
|
200
|
-85
|
564434.9
|
5928019.4
|
401.6
|
NQ
|
CV13
|
|
|
CV23-270
|
Land
|
119.0
|
200
|
-45
|
564527.9
|
5927979.6
|
404.0
|
NQ
|
CV13
|
|
|
CV23-271
|
Land
|
149.2
|
110
|
-75
|
565068.5
|
5927999.1
|
429.0
|
NQ
|
CV13
|
|
|
CV23-272
|
Water
|
99.5
|
158
|
-45
|
570328.8
|
5930856.6
|
372.8
|
NQ
|
CV5
|
|
|
CV23-272A
|
Water
|
410.0
|
158
|
-45
|
570328.8
|
5930856.6
|
372.8
|
NQ
|
CV5
|
|
|
CV23-273
|
Land
|
359.0
|
158
|
-45
|
568457.9
|
5930020.1
|
392.5
|
NQ
|
CV5
|
|
|
CV23-274
|
Water
|
224.0
|
158
|
-45
|
571199.9
|
5930974.4
|
372.6
|
NQ
|
CV5
|
|
|
CV23-275
|
Land
|
197.1
|
0
|
-45
|
554125.9
|
5930056.2
|
405.0
|
NQ
|
CV9
|
|
|
CV23-276
|
Land
|
182.0
|
140
|
-45
|
565180.4
|
5928160.3
|
441.7
|
NQ
|
CV13
|
|
|
CV23-277
|
Land
|
287.0
|
200
|
-85
|
564528.6
|
5927980.6
|
404.1
|
NQ
|
CV13
|
|
|
CV23-278
|
Land
|
212.0
|
60
|
-45
|
554132.2
|
5930058.7
|
404.9
|
NQ
|
CV9
|
|
|
CV23-279
|
Water
|
227.0
|
158
|
-45
|
571250.2
|
5930988.5
|
373.1
|
NQ
|
CV5
|
|
|
CV23-280
|
Land
|
209.0
|
200
|
-45
|
565178.1
|
5928159.7
|
441.5
|
NQ
|
CV13
|
|
|
CV23-281
|
Land
|
208.6
|
255
|
-45
|
554480.0
|
5930084.1
|
402.8
|
NQ
|
CV9
|
|
|
CV23-282
|
Land
|
184.9
|
70
|
-45
|
565181.4
|
5928163.8
|
441.8
|
NQ
|
CV13
|
|
|
CV23-283
|
Land
|
362.0
|
158
|
-45
|
568526.0
|
5929989.7
|
387.7
|
NQ
|
CV5
|
|
|
CV23-284
|
Land
|
155.0
|
165
|
-45
|
554482.6
|
5930081.3
|
403.1
|
NQ
|
CV9
|
|
|
CV23-285
|
Water
|
470.0
|
158
|
-60
|
570328.4
|
5930856.8
|
372.8
|
NQ
|
CV5
|
|
|
CV23-286
|
Land
|
95.0
|
200
|
-45
|
564804.5
|
5927873.3
|
402.3
|
NQ
|
CV13
|
|
|
CV23-287
|
Water
|
176.0
|
158
|
-45
|
571336.6
|
5931031.0
|
372.8
|
NQ
|
CV5
|
|
|
CV23-288
|
Land
|
314.0
|
0
|
-90
|
565180.8
|
5928163.4
|
441.8
|
NQ
|
CV13
|
|
|
CV23-289
|
Land
|
214.9
|
290
|
-45
|
554519.4
|
5930044.6
|
401.5
|
NQ
|
CV9
|
|
|
CV23-290
|
Land
|
443.0
|
158
|
-60
|
569197.2
|
5930336.0
|
392.0
|
NQ
|
CV5
|
|
|
CV23-291
|
Water
|
169.0
|
158
|
-70
|
571336.7
|
5931031.4
|
372.3
|
NQ
|
CV5
|
|
|
CV23-292
|
Land
|
389.0
|
158
|
-65
|
568457.4
|
5930020.9
|
392.5
|
NQ
|
CV5
|
|
|
CV23-293
|
Water
|
134.0
|
140
|
-45
|
565325.0
|
5928117.9
|
430.8
|
NQ
|
CV13
|
|
|
CV23-294
|
Land
|
170.0
|
200
|
-85
|
564804.9
|
5927874.2
|
402.3
|
NQ
|
CV13
|
|
|
CV23-295
|
Land
|
363.0
|
158
|
-65
|
568526.0
|
5929990.0
|
387.7
|
NQ
|
CV5
|
|
|
CV23-296
|
Land
|
278.9
|
235
|
-45
|
554520.4
|
5930042.1
|
401.2
|
NQ
|
CV9
|
|
|
CV23-297
|
Water
|
194.0
|
158
|
-45
|
571682.5
|
5931113.0
|
372.5
|
NQ
|
CV5
|
|
|
CV23-298
|
Water
|
440.0
|
158
|
-64
|
570449.3
|
5930831.3
|
372.7
|
NQ
|
CV5
|
|
|
CV23-299
|
Land
|
113.0
|
0
|
-90
|
565324.1
|
5928118.8
|
430.9
|
NQ
|
CV13
|
|
|
CV23-300
|
Land
|
146.0
|
200
|
-45
|
564715.7
|
5927915.2
|
404.2
|
NQ
|
CV13
|
|
|
CV23-301
|
Land
|
113.0
|
140
|
-45
|
565359.3
|
5928206.8
|
435.5
|
NQ
|
CV13
|
|
|
CV23-302
|
Land
|
125.0
|
200
|
-85
|
564716.3
|
5927916.3
|
404.2
|
NQ
|
CV13
|
|
|
CV23-303
|
Land
|
291.0
|
158
|
-45
|
568922.1
|
5930064.4
|
395.4
|
NQ
|
CV5
|
|
|
CV23-304
|
Land
|
230.0
|
160
|
-45
|
554525.3
|
5930043.3
|
401.3
|
NQ
|
CV9
|
|
|
CV23-305
|
Land
|
149.0
|
200
|
-60
|
564373.9
|
5928148.8
|
408.0
|
NQ
|
CV13
|
|
|
CV23-306
|
Land
|
209.0
|
140
|
-90
|
565358.6
|
5928207.5
|
435.6
|
NQ
|
CV13
|
|
|
CV23-307
|
Land
|
354.4
|
285
|
-45
|
569814.2
|
5930403.6
|
382.3
|
NQ
|
CV5
|
|
|
CV23-308
|
Water
|
171.5
|
158
|
-46
|
571479.7
|
5931087.4
|
372.9
|
NQ
|
CV5
|
|
|
CV23-309
|
Land
|
80.0
|
200
|
-45
|
564244.9
|
5928082.6
|
404.2
|
NQ
|
CV13
|
|
|
CV23-310
|
Land
|
230.0
|
0
|
-45
|
554249.2
|
5929997.8
|
398.4
|
NQ
|
CV9
|
|
|
CV23-311
|
Land
|
422.0
|
140
|
-45
|
565394.5
|
5928309.7
|
414.3
|
NQ
|
CV13
|
|
|
CV23-312
|
Land
|
149.0
|
200
|
-90
|
564373.8
|
5928148.9
|
408.1
|
NQ
|
CV13
|
|
|
CV23-313
|
Water
|
371.0
|
158
|
-45
|
570449.7
|
5930830.8
|
372.7
|
NQ
|
CV5
|
|
|
CV23-314
|
Water
|
359.0
|
338
|
-45
|
571479.2
|
5931088.9
|
372.1
|
NQ
|
CV5
|
|
|
CV23-315
|
Land
|
308.0
|
80
|
-45
|
554251.7
|
5929995.6
|
398.0
|
NQ
|
CV9
|
|
|
CV23-316
|
Land
|
164.0
|
200
|
-60
|
564278.9
|
5928174.3
|
406.9
|
NQ
|
CV13
|
|
|
CV23-317
|
Land
|
432.0
|
338
|
-45
|
568922.9
|
5930067.3
|
395.1
|
NQ
|
CV5
|
|
|
CV23-318
|
Land
|
98.0
|
200
|
-90
|
564245.2
|
5928083.3
|
404.0
|
NQ
|
CV13
|
|
|
CV23-319
|
Land
|
149.0
|
200
|
-45
|
564147.1
|
5928113.7
|
400.9
|
NQ
|
CV13
|
|
|
CV23-320
|
Land
|
176.0
|
200
|
-90
|
564279.1
|
5928174.7
|
406.9
|
NQ
|
CV13
|
|
|
CV23-321
|
Land
|
253.5
|
158
|
-45
|
569813.6
|
5930404.2
|
381.9
|
NQ
|
CV5
|
|
|
CV23-322
|
Land
|
404.0
|
140
|
-90
|
565393.9
|
5928310.4
|
414.9
|
NQ
|
CV13
|
|
|
CV23-323
|
Land
|
143.0
|
200
|
-60
|
564180.4
|
5928212.8
|
411.6
|
NQ
|
CV13
|
|
|
CV23-324
|
Land
|
197.0
|
200
|
-90
|
564147.4
|
5928114.3
|
400.9
|
NQ
|
CV13
|
|
|
CV23-325
|
Water
|
239.0
|
158
|
-47
|
571440.8
|
5931045.2
|
372.2
|
NQ
|
CV5
|
|
|
CV23-326
|
Land
|
242.0
|
160
|
-65
|
554297.2
|
5930042.8
|
401.0
|
NQ
|
CV9
|
|
|
CV23-327
|
Land
|
389.0
|
158
|
-45
|
570541.7
|
5930871.4
|
372.7
|
NQ
|
CV5
|
|
|
CV23-328
|
Land
|
429.0
|
200
|
-45
|
564057.2
|
5928154.3
|
403.9
|
NQ
|
CV13
|
|
|
CV23-329
|
Land
|
278.0
|
310
|
-55
|
569812.8
|
5930405.2
|
381.9
|
NQ
|
CV5
|
|
|
CV23-330
|
Land
|
215.0
|
200
|
-90
|
564180.7
|
5928213.2
|
412.1
|
NQ
|
CV13
|
|
|
CV23-331
|
Land
|
420.0
|
158
|
-45
|
568415.4
|
5929988.0
|
395.9
|
NQ
|
CV5
|
|
|
CV23-332
|
Land
|
425.0
|
140
|
-45
|
565421.2
|
5928393.4
|
405.5
|
NQ
|
CV13
|
|
|
CV23-333
|
Land
|
287.0
|
0
|
-45
|
554397.0
|
5929909.9
|
382.6
|
NQ
|
CV9
|
|
|
CV23-334
|
Land
|
71.0
|
338
|
-45
|
569813.6
|
5930403.6
|
381.9
|
NQ
|
CV5
|
|
|
CV23-335
|
Water
|
263.0
|
158
|
-76
|
571440.5
|
5931063.1
|
372.7
|
NQ
|
CV5
|
|
|
CV23-336
|
Land
|
149.0
|
200
|
-60
|
564091.2
|
5928247.1
|
412.0
|
NQ
|
CV13
|
|
|
CV23-337
|
Land
|
428.0
|
338
|
-45
|
569717.2
|
5930368.0
|
382.0
|
NQ
|
CV5
|
|
|
CV23-338
|
Water
|
176.0
|
158
|
-45
|
570761.8
|
5930850.3
|
372.9
|
NQ
|
CV5
|
|
|
CV23-339
|
Land
|
158.0
|
200
|
-90
|
564091.5
|
5928247.4
|
412.4
|
NQ
|
CV13
|
|
|
CV23-340
|
Water
|
212.0
|
158
|
-60
|
571760.9
|
5931197.6
|
372.9
|
NQ
|
CV5
|
|
|
CV23-341
|
Land
|
212.0
|
40
|
-45
|
554398.7
|
5929909.6
|
383.5
|
NQ
|
CV9
|
|
|
CV23-342
|
Water
|
209.0
|
158
|
-45
|
570631.7
|
5930908.8
|
372.8
|
NQ
|
CV5
|
|
|
CV23-343
|
Land
|
194.0
|
200
|
-60
|
564000.8
|
5928282.3
|
408.5
|
NQ
|
CV13
|
|
|
CV23-344
|
Land
|
530.0
|
158
|
-65
|
568415.3
|
5929988.4
|
395.9
|
NQ
|
CV5
|
|
|
CV23-345
|
Land
|
374.0
|
255
|
-55
|
554525.9
|
5930045.0
|
402.4
|
NQ
|
CV9
|
|
|
CV23-346
|
Land
|
164.0
|
200
|
-90
|
564057.4
|
5928154.8
|
403.8
|
NQ
|
CV13
|
|
|
CV23-347
|
Land
|
230.0
|
158
|
-45
|
569717.7
|
5930367.4
|
382.0
|
NQ
|
CV5
|
|
|
CV23-348
|
Land
|
383.0
|
140
|
-90
|
565420.9
|
5928393.8
|
405.3
|
NQ
|
CV13
|
|
|
CV23-349
|
Water
|
134.0
|
158
|
-45
|
571865.8
|
5931191.5
|
373.4
|
NQ
|
CV5
|
|
|
CV23-350
|
Land
|
104.0
|
200
|
-45
|
563965.0
|
5928183.6
|
406.1
|
NQ
|
CV13
|
|
|
CV23-351
|
Land
|
164.0
|
200
|
-90
|
564000.9
|
5928282.6
|
408.4
|
NQ
|
CV13
|
|
|
CV23-352
|
Land
|
227.0
|
158
|
-45
|
569626.0
|
5930335.2
|
381.7
|
NQ
|
CV5
|
|
|
CV23-353
|
Land
|
134.8
|
200
|
-90
|
563965.1
|
5928184.3
|
406.1
|
NQ
|
CV13
|
|
|
CV23-354
|
Land
|
293.0
|
158
|
-45
|
569536.2
|
5930296.9
|
381.9
|
NQ
|
CV5
|
|
|
CV23-355
|
Land
|
245.0
|
200
|
-45
|
563865.2
|
5928215.9
|
401.4
|
NQ
|
CV13
|
|
|
CV23-356
|
Land
|
181.0
|
200
|
-60
|
563906.9
|
5928314.1
|
400.8
|
NQ
|
CV13
|
|
|
CV23-357
|
Land
|
329.0
|
158
|
-45
|
568371.0
|
5929961.8
|
392.7
|
NQ
|
CV5
|
|
|
CV23-358
|
Land
|
305.0
|
140
|
-45
|
565552.3
|
5928455.0
|
394.9
|
NQ
|
CV13
|
|
|
CV23-359
|
Land
|
251.0
|
158
|
-45
|
569443.3
|
5930256.2
|
383.8
|
NQ
|
CV5
|
|
|
CV23-360
|
Land
|
140.0
|
200
|
-90
|
563865.5
|
5928216.7
|
401.4
|
NQ
|
CV13
|
|
|
CV23-361
|
Land
|
206.0
|
200
|
-90
|
563907.1
|
5928314.9
|
400.7
|
NQ
|
CV13
|
|
|
CV23-362
|
Land
|
350.0
|
338
|
-45
|
571560.3
|
5931009.3
|
373.3
|
NQ
|
CV5
|
|
|
CV23-363
|
Land
|
218.0
|
158
|
-45
|
569347.1
|
5930221.6
|
389.4
|
NQ
|
CV5
|
|
|
CV23-364
|
Land
|
401.0
|
158
|
-65
|
568370.8
|
5929962.2
|
392.6
|
NQ
|
CV5
|
|
|
CV23-365
|
Land
|
323.0
|
140
|
-90
|
565551.9
|
5928455.4
|
394.9
|
NQ
|
CV13
|
|
|
(1)
|
Coordinate system
NAD83 / UTM zone 18N; (2) All drill holes are diamond
drill; (3) Azimuths and dips presented are those 'planned' and may
vary off collar/downhole; (4) Total Depth data is preliminary for
some holes.
|
1 The CV5 mineral resource estimate
(109.2 Mt at 1.42% Li2O and 160 ppm
Ta2O5 inferred) is reported at a cut-off
grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole
CV23-190). Mineral resources are not mineral reserves as
they do not have demonstrated economic viability. Largest in the
Americas based on contained LCE.
Quality Assurance / Quality Control
(QAQC)
A Quality Assurance / Quality Control protocol following
industry best practices was incorporated into the program and
included systematic insertion of quartz blanks and certified
reference materials into sample batches at a rate of approximately
5%. Additionally, analysis of pulp-split and coarse-split sample
duplicates were completed to assess analytical precision at
different stages of the laboratory preparation process, and
external (secondary) laboratory pulp-split duplicates were prepared
at the primary lab for subsequent check analysis and
validation.
All core samples collected were shipped to SGS Canada's
laboratory in Val-d'Or, QC, for
sample preparation (code PRP89 special) which includes drying at
105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize
85% passing 75 microns. The pulps were shipped by air to SGS
Canada's laboratory in Burnaby,
BC, where the samples were homogenized and subsequently
analyzed for multi-element (including Li and Ta) using sodium
peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district
discovered by the Company in 2017 and is interpreted to span more
than 50 kilometres across the Corvette Property. The core area
includes the approximate 4.35 km long CV5 Spodumene Pegmatite,
which hosts a maiden mineral resource estimate of 109.2 Mt at
1.42% Li2O inferred1.
To date, seven (7) distinct clusters of lithium pegmatite have
been discovered across the Corvette Property – CV4, CV5, CV8, CV9,
CV10, CV12, and 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 indicates 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.
Qualified/Competent Person
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 –
Standards of Disclosure for Mineral Projects, and member in
good standing with the Ordre des Géologues du Québec
(Geologist Permit number 01968), 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 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 Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (the JORC Code). 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 hard-rock lithium exploration
company focused on advancing its district-scale 100% owned Corvette
Property located in the Eeyou Istchee James Bay region of
Quebec, Canada, and proximal to
regional road and powerline infrastructure. The Corvette Property
hosts the CV5 Spodumene Pegmatite with a maiden mineral resource
estimate of 109.2 Mt at 1.42% Li2O
inferred1 and ranks as the largest lithium pegmatite
resource in the Americas based on contained lithium carbonate
equivalent (LCE), and one of the top 10 largest lithium pegmatite
resources in the world. Additionally, the Corvette Property hosts
multiple other spodumene pegmatite clusters that remain to be drill
tested, as well as more than 20 km of prospective trend that
remains to be assessed.
1 The CV5 mineral resource estimate (109.2
Mt at 1.42% Li2O and 160 ppm Ta2O5
inferred) is reported at a cut-off grade of 0.40% Li2O
with effective date of June 25,
2023 (through drill hole CV23-190). Mineral
resources are not mineral reserves as they do not have demonstrated
economic viability.
This news release has been approved by the Board of
Directors.
"BLAIR
WAY"
Blair Way, President, CEO, &
Director
Disclaimer for Forward-looking
Information
This news release contains "forward-looking information" or
"forward-looking statements" within the meaning of applicable
securities laws and other statements that are not historical facts.
Forward-looking statements are included to provide information
about management's current expectations and plans that allows
investors and others to have a better understanding of the
Company's business plans and financial performance and
condition.
All statements, other than statements of historical fact
included in this news release, regarding the Company's strategy,
future operations, financial position, prospects, plans and
objectives of management are forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
typically identified by words such as "plan", "expect", "estimate",
"intend", "anticipate", "believe", or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. In particular and without limitation, this news release
contains forward-looking statements pertaining to the potential
position of the Corvette Property as an important source of
spodumene for the battery-supply chain of North America, the resumption of the drilling
in January 2024, and the objectives
of the 2024 winter drill program.
Forward-looking information is based upon certain assumptions
and other important factors that, if untrue, could cause the actual
results, performance or achievements of the Company to be
materially different from future results, performance or
achievements expressed or implied by such information or
statements. There can be no assurance that such information or
statements will prove to be accurate. Key assumptions upon which
the Company's forward-looking information is based include the
total funding required to complete the development of the Company's
lithium mineral project at the Corvette Property.
Readers are cautioned that the foregoing list is not
exhaustive of all factors and assumptions which may have been used.
Forward-looking statements are also subject to risks and
uncertainties facing the Company's business, any of which could
have a material adverse effect on the Company's business, financial
condition, results of operations and growth prospects. Some of the
risks the Company faces and the uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements include, among others, the ability to
execute on plans relating to the Company's Corvette Project,
including the timing thereof. In addition, readers are directed to
carefully review the detailed risk discussion in the Company's most
recent Annual Information Form filed on SEDAR+, which discussion is
incorporated by reference in this news release, for a fuller
understanding of the risks and uncertainties that affect the
Company's business and operations.
Although the Company believes its expectations are based upon
reasonable assumptions and has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information. As such,
these risks are not exhaustive; however, they should be considered
carefully. If any of these risks or uncertainties materialize,
actual results may vary materially from those anticipated in the
forward-looking statements found herein. Due to the risks,
uncertainties and assumptions inherent in forward-looking
statements, readers should not place undue reliance on
forward-looking statements.
Forward-looking statements contained herein are presented for
the purpose of assisting investors in understanding the Company's
business plans, financial performance and condition and may not be
appropriate for other purposes.
The forward-looking statements contained herein are made only
as of the date hereof. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except to the extent required by applicable law. The Company
qualifies all of its forward-looking statements by these cautionary
statements.
No securities regulatory authority or stock exchange,
including the TSX Venture Exchange and its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed nor accepts responsibility for the
adequacy or accuracy of the content of this news release.
Competent Person Statement (ASX Listing Rule
5.22)
The mineral resource estimate in this release was reported by
the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023. The Company confirms it is not
aware of any new information or data that materially affects the
information included in the previous announcements and that all
material assumptions and technical parameters underpinning the
estimates in the previous announcements continue to apply and have
not materially changed. The Company confirms that the form and
context in which the competent person's findings are presented have
not been materially modified from the original market
announcement.
Appendix 1 – JORC Code 2012
Table 1 information required by ASX Listing Rule 5.7.1
Section 1 – Sampling Techniques and
Data
|
Criteria
|
JORC Code
explanation
|
Commentary
|
|
Sampling
techniques
|
- Nature and quality
of sampling (eg cut channels, random chips, or specific specialized
industry standard measurement tools appropriate to the minerals
under investigation, such as down hole gamma sondes, or handheld
XRF instruments, etc). These examples should not be taken as
limiting the broad meaning of sampling.
- Include reference
to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems
used.
- Aspects of the
determination of mineralization that are Material to the Public
Report.
- In cases where
'industry standard' work has been done this would be relatively
simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverized to produce a 30 g charge for
fire assay'). In other cases more explanation may be required, such
as where there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralization types (eg submarine nodules)
may warrant disclosure of detailed information.
|
- Core sampling
protocols meet industry standard practices.
- Core sampling is
guided by lithology as determined during geological logging (i.e.,
by a geologist). All pegmatite intervals are sampled in their
entirety (half-core), regardless if spodumene mineralization is
noted or not (in order to ensure an unbiased sampling approach) in
addition to ~1 to 3 m of sampling into the adjacent host rock
(dependent on pegmatite interval length) to "bookend" the sampled
pegmatite.
- The minimum
individual sample length is typically 0.3-0.5 m and the maximum
sample length is typically 2.0 m. Targeted individual pegmatite
sample lengths are 1.0 m.
- All drill core is
oriented to maximum foliation prior to logging and sampling and is
cut with a core saw into half-core pieces, with one half-core
collected for assay, and the other half-core remaining in the box
for reference.
- Core samples
collected from drill holes were shipped to SGS Canada's laboratory
in Val-d'Or, QC,
for sample preparation (code PRP89 special) which
included drying at 105°C, crush to 90% passing 2 mm, riffle split
250 g, and pulverize 85% passing 75 microns. Core sample pulps were
shipped by air to SGS Canada's laboratory in Burnaby, BC, where the
samples were homogenized and subsequently analyzed for
multi-element (including Li and Ta) using sodium peroxide fusion
with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
|
|
Drilling
techniques
|
- Drill type (eg
core, reverse circulation, open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by what method,
etc).
|
- NQ size core
diamond drilling was completed for all holes. Core was not
oriented.
|
|
Drill sample
recovery
|
- Method of recording
and assessing core and chip sample recoveries and results
assessed.
- Measures taken to
maximize sample recovery and ensure representative nature of the
samples.
- Whether a
relationship exists between sample recovery and grade and whether
sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
|
- All drill core was
geotechnically logged following industry standard practices, and
includes TCR, RQD, ISRM, and Q-Method. Core recovery is very good
and typically exceeds 90%
.
|
|
Logging
|
- Whether core and
chip samples have been geologically and geotechnically logged to a
level of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
- Whether logging is
qualitative or quantitative in nature. Core (or costean, channel,
etc) photography.
- The total length
and percentage of the relevant intersections logged.
|
- Upon receipt at the
core shack, all drill core is pieced together, oriented to maximum
foliation, metre marked, geotechnically logged (including
structure), alteration logged, geologically logged, and sample
logged on an individual sample basis. Core box photos are also
collected of all core drilled, regardless of perceived
mineralization. Specific gravity measurements of pegmatite are also
collected at systematic intervals for all pegmatite drill core
using the water immersion method, as well as select host rock drill
core.
- The logging is
qualitative by nature, and includes estimates of spodumene grain
size, inclusions, and model mineral estimates.
- These logging
practices meet or exceed current industry standard
practices.
|
|
Sub-sampling techniques
and sample preparation
|
- If core, whether
cut or sawn and whether quarter, half or all core
taken.
- If non-core,
whether riffled, tube sampled, rotary split, etc and whether
sampled wet or dry.
- For all sample
types, the nature, quality and appropriateness of the sample
preparation technique.
- Quality control
procedures adopted for all sub-sampling stages to maximize
representivity of samples.
- Measures taken to
ensure that the sampling is representative of the in situ material
collected, including for instance results for field
duplicate/second-half sampling.
- Whether sample
sizes are appropriate to the grain size of the material being
sampled.
|
- Drill core sampling
follows industry best practices. Drill core was saw-cut with
half-core sent for geochemical analysis and half-core remaining in
the box for reference. The same side of the core was sampled to
maintain representativeness.
- Sample sizes are
appropriate for the material being assayed.
- A Quality Assurance
/ Quality Control (QAQC) protocol following industry best practices
was incorporated into the program and included systematic insertion
of quartz blanks and certified reference materials (CRMs) into
sample batches at a rate of approximately 5% each. Additionally,
analysis of pulp-split and course-split sample duplicates were
completed to assess analytical precision at different stages of the
laboratory preparation process, and external (secondary) laboratory
pulp-split duplicates were prepared at the primary lab for
subsequent check analysis and validation at a secondary
lab.
- All protocols
employed are considered appropriate for the sample type and nature
of mineralization and are considered the optimal approach for
maintaining representativeness in sampling.
|
|
Quality of assay data
and laboratory tests
|
- The nature, quality
and appropriateness of the assaying and laboratory procedures used
and whether the technique is considered partial or
total.
- For geophysical
tools, spectrometers, handheld XRF instruments, etc, the parameters
used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their
derivation, etc.
- Nature of quality
control procedures adopted (eg standards, blanks, duplicates,
external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been
established.
|
- Core samples
collected from drill holes were shipped to SGS Canada's laboratory
in Val-d'Or, QC,
for standard sample preparation (code PRP89 special)
which included drying at 105°C, crush to 90% passing 2 mm, riffle
split 250 g, and pulverize 85% passing 75 microns. Core sample
pulps were shipped by air to SGS Canada's laboratory in Burnaby,
BC, where the samples were homogenized and subsequently analyzed
for multi-element (including Li and Ta) using sodium peroxide
fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
- The Company relies
on both its internal QAQC protocols (systematic use of blanks,
certified reference materials, and external checks), as well as the
laboratory's internal QAQC.
- All protocols
employed are considered appropriate for the sample type and nature
of mineralization and are considered the optimal approach for
maintaining representativeness in sampling.
|
|
Verification of
sampling and assaying
|
- The verification of
significant intersections by either independent or alternative
company personnel.
- The use of twinned
holes.
- Documentation of
primary data, data entry procedures, data verification, data
storage (physical and electronic) protocols.
- Discuss any
adjustment to assay data.
|
- Intervals are
reviewed and compiled by the VP Exploration and Project Managers
prior to disclosure, including a review of the Company's internal
QAQC sample analytical data.
- Data capture
utilizes MX Deposit software whereby core logging data is entered
directly into the software for storage, including direct import of
laboratory analytical certificates as they are received. The
Company employs various on-site and post QAQC protocols to ensure
data integrity and accuracy.
- Adjustments to data
include reporting lithium and tantalum in their oxide forms, as it
is reported in elemental form in the assay certificates. Formulas
used are Li2O = Li x 2.153, and
Ta2O5 = Ta x 1.221.
|
|
Location of data
points
|
- Accuracy and
quality of surveys used to locate drill holes (collar and down-hole
surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
- Specification of
the grid system used.
- Quality and
adequacy of topographic control.
|
- Each drill hole's
collar has been surveyed with a RTK Trimble Zephyr 3 or RTK Topcon
GR-5.
- The coordinate
system used is UTM NAD83 Zone 18.
- The Company
completed a property-wide LiDAR and orthophoto survey in August
2022, which provides high-quality topographic control.
- The quality and
accuracy of the topographic controls are considered adequate for
advanced stage exploration and development, including mineral
resource estimation.
|
|
Data spacing and
distribution
|
- Data spacing for
reporting of Exploration Results.
- Whether the data
spacing and distribution is sufficient to establish the degree of
geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and
classifications applied.
- Whether sample
compositing has been applied.
|
- At CV5, drill hole
collar spacing is dominantly grid based at ~100 m; however,
tightens to ~50 m in multiple areas, and widens to ~150 m in a
small number of areas. Several collars are typically completed from
the same pad at varied orientations resulting in more varied
pegmatite pierce points at depth.
- At CV13, drill hole
spacing is dominantly grid based at ~100 m; however, collar
locations and hole orientations may vary widely, which reflect the
varied orientation of the pegmatite body along strike.
- At CV9, drill hole
collar spacing is irregular with varied hole orientations and
multiple collars on the same pad.
- It is interpreted
that some of the drill hole spacing is sufficient to support a
mineral resource estimate.
- Core sample lengths
typically range from 0.5 to 1.5 m and average ~1 m. Sampling is
continuous within all pegmatite encountered in the drill
hole.
|
|
Orientation of data in
relation to geological structure
|
- Whether the
orientation of sampling achieves unbiased sampling of possible
structures and the extent to which this is known, considering the
deposit type.
- If the relationship
between the drilling orientation and the orientation of key
mineralized structures is considered to have introduced a sampling
bias, this should be assessed and reported if material.
|
- No sampling bias is
anticipated based on structure within the mineralized
body.
- The principal
mineralized bodies are relatively undeformed and very competent,
although have some meaningful structural control.
- At CV5, the
principal mineralized body and adjacent lenses are steeply dipping
resulting in oblique angles of intersection with true widths
varying based on drill hole angle and orientation of pegmatite at
that particular intersection point. i.e., the dip of the
mineralized pegmatite body has variations in a vertical sense and
along strike, so the true widths are not always apparent until
several holes have been drilled (at the appropriate spacing) in any
particular drill-fence.
- At CV13, the
principal pegmatite body has a shallow varied northerly
dip.
- At CV9, the
orientation and geometry of the pegmatite is not well understood.
The pegmatite is currently interpreted to be comprised of a single
principal dyke, which outcrops at surface, has a steep northerly
dip, and is moderately plunging to the east-southeast.
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Sample
security
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- The measures taken
to ensure sample security.
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- Samples were
collected by Company staff or its consultants following specific
protocols governing sample collection and handling. Core samples
were bagged, placed in large supersacs for added security,
palleted, and shipped directly to Val-d'Or, QC, being tracked
during shipment along with Chain of Custody. Upon arrival at the
laboratory, the samples were cross-referenced with the shipping
manifest to confirm all samples were accounted for. At the
laboratory, sample bags are evaluated for tampering.
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Audits or
reviews
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- The results of any
audits or reviews of sampling techniques and data.
|
- A review of the
sample procedures for the Company's 2021 fall drill program
(CF21-001 to 004) and 2022 winter drill program (CV22-015 to 034)
was completed by an Independent Competent Person and deemed
adequate and acceptable to industry best practices (discussed in a
technical report titled "NI 43-101 Technical Report on the Corvette
Property, Quebec, Canada", by Alex Knox, M.Sc., P.Geol., Issue Date
of June 27th, 2022.)
- A review of the
sample procedures through the Company's 2023 winter drill program
was completed by an independent Competent Person with respect to
the CV5 Pegmatite's maiden mineral resource estimate and deemed
adequate and acceptable to industry best practices (discussed in a
technical report titled " NI 43–101 Technical Report, Mineral
Resource Estimate for the CV5 Pegmatite, Corvette Property" by Todd
McCracken, P.Geo., of BBA Engineering Ltd., and Ryan Cunningham,
M.Eng., P.Eng., of Primero Group Americas Inc., Effective Date of
June 25, 2023, and Issue Date of September 8, 2023.
- Additionally, the
Company continually reviews and evaluates its procedures in order
to optimize and ensure compliance at all levels of sample data
collection and handling.
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Section 2 – Reporting of Exploration
Results
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Criteria
|
JORC Code
explanation
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Commentary
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Mineral tenement and
land tenure status
|
- Type, reference
name/number, location and ownership including agreements or
material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests,
historical sites, wilderness or national park and environmental
settings.
- The security of the
tenure held at the time of reporting along with any known
impediments to obtaining a licence to operate in the
area.
|
- The Corvette
Property is comprised of 424 CDC claims located in the James Bay
Region of Quebec, with Patriot Battery Metals Inc. the registered
title holder for all of the claims. The northern border of the
Property's primary claim block is located within approximately 6 km
to the south of the Trans-Taiga Road and powerline infrastructure
corridor. The CV5 Spodumene Pegmatite is situated approximately
13.5 km south of the regional and all–weather Trans-Taiga Road and
powerline infrastructure. The CV13 and CV9 spodumene pegmatites are
located approximately 3 km west-southwest and 14 km west of CV5,
respectively.
- The Company holds
100% interest in the Property subject to various royalty
obligations depending on original acquisition agreements. DG
Resources Management holds a 2% NSR (no buyback) on 76 claims,
D.B.A. Canadian Mining House holds a 2% NSR on 50 claims (half
buyback for $2M) and Osisko Gold Royalties holds a sliding scale
NSR of 1.5-3.5% on precious metals, and 2% on all other products,
over 111 claims. The vast majority of the CV13 Spodumene Pegmatite,
as is currently delineated, is not subject to a
royalty.
- The Property does
not overlap any atypically sensitive environmental areas or parks,
or historical sites to the knowledge of the Company. There are no
known hinderances to operating at the Property, apart from the
goose harvesting season (typically mid-April to mid-May) where the
communities request helicopter flying not be completed, and
potentially wildfires depending on the season, scale, and
location.
- Claim expiry dates
range from September 2024 to September 2026.
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Exploration done by
other parties
|
- Acknowledgment and
appraisal of exploration by other parties.
|
- No core assay
results from other parties are disclosed herein.
- The most recent
independent Property review was a technical report titled "NI
43-101 Technical Report, Mineral Resource Estimate for the CV5
Pegmatite, Corvette Property, James Bay Region, Québec, Canada", by
Todd McCracken, P.Geo., of BBA Engineering Ltd., and Ryan
Cunningham, M.Eng., P.Eng., of Primero Group Americas Inc.,
Effective Date of June 25, 2023, and Issue Date of September 8,
2023.
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Geology
|
- Deposit type,
geological setting and style of mineralization.
|
- The Property
overlies a large portion of the Lac Guyer Greenstone Belt,
considered part of the larger La Grande River Greenstone Belt and
is dominated by volcanic rocks metamorphosed to amphibolite facies.
The claim block is dominantly host to rocks of the Guyer Group
(amphibolite, iron formation, intermediate to mafic volcanics,
peridotite, pyroxenite, komatiite, as well as felsic volcanics).
The amphibolite rocks that trend east-west (generally steeply south
dipping) through this region are bordered to the north by the Magin
Formation (conglomerate and wacke) and to the south by an
assemblage of tonalite, granodiorite, and diorite, in addition to
metasediments of the Marbot Group (conglomerate, wacke). Several
regional-scale Proterozoic gabbroic dykes also cut through portions
of the Property (Lac Spirt Dykes, Senneterre Dykes).
- The geological
setting is prospective for gold, silver, base metals, platinum
group elements, and lithium over several different deposit styles
including orogenic gold (Au), volcanogenic massive sulfide (Cu, Au,
Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and pegmatite
(Li, Ta).
- Exploration of the
Property has outlined three primary mineral exploration trends
crossing dominantly east-west over large portions of the Property –
Golden Trend (gold), Maven Trend (copper, gold, silver), and CV
Trend (lithium, tantalum). The CV5 and CV13 spodumene pegmatites
are situated within the CV Trend. Lithium mineralization at the
Property, including at CV5, CV13, and CV9, is observed to occur
within quartz-feldspar pegmatite, which may be exposed at surface
as high relief 'whale-back' landforms. The pegmatite is often very
coarse-grained and off-white in appearance, with darker sections
commonly composed of mica and smoky quartz, and occasional
tourmaline.
- The lithium
pegmatites at Corvette are categorized as LCT Pegmatites. Core
assays and ongoing mineralogical studies, coupled with field
mineral identification and assays, indicate spodumene as the
dominant lithium-bearing mineral on the Property, with no
significant petalite, lepidolite, lithium-phosphate minerals, or
apatite present. The pegmatites also carry significant tantalum
values with tantalite indicated to be the mineral
phase.
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Drill hole
Information
|
•
- A summary of all
information material to the understanding of the exploration
results including a tabulation of the following information for all
Material drill holes:
- o
easting and northing of the drill hole
collar
- o
elevation or RL (Reduced Level –
elevation above sea level in metres) of the drill hole
collar
- o
dip and azimuth of the hole
- o
down hole length and interception
depth
- o
hole length.
- If the exclusion of
this information is justified on the basis that the information is
not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly
explain why this is the case.
|
- Drill hole
attribute information is included in a table herein.
- Pegmatite
intersections of <2 m are not typically presented as they are
considered insignificant.
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Data aggregation
methods
|
- In reporting
Exploration Results, weighting averaging techniques, maximum and/or
minimum grade truncations (eg cutting of high grades) and cut-off
grades are usually Material and should be stated.
- Where aggregate
intercepts incorporate short lengths of high grade results and
longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such
aggregations should be shown in detail.
- The assumptions
used for any reporting of metal equivalent values should be clearly
stated.
|
- Length weighted
averages were used to calculate grade over width.
- No specific grade
cap or cut-off was used during grade width calculations. The
lithium and tantalum average of the entire pegmatite interval is
calculated for all pegmatite intervals over 2 m core length, as
well as higher grade zones at the discretion of the geologist.
Pegmatites have inconsistent mineralization by nature, resulting in
some intervals having a small number of poorly mineralized samples
included in the calculation. Non-pegmatite internal dilution is
limited to typically <3 m where relevant and intervals indicated
when assays are reported.
- No metal
equivalents have been reported.
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|
Relationship between
mineralization widths and intercept lengths
|
- These relationships
are particularly important in the reporting of Exploration
Results.
- If the geometry of
the mineralization with respect to the drill hole angle is known,
its nature should be reported.
- If it is not known
and only the down hole lengths are reported, there should be a
clear statement to this effect (eg 'down hole length, true width
not known').
|
- At CV5, geological
modelling is ongoing on a hole-by-hole basis and as assays are
received. However, current interpretation supports a principal,
large pegmatite body of near vertical to steeply dipping
orientation, flanked by several subordinate pegmatite lenses
(collectively, the 'CV5 Spodumene Pegmatite')
- At CV13, geological
modelling is ongoing on a hole-by-hole basis and as assays are
received. However, current interpretation supports an upper and
lower pegmatite body, each trending sub-parallel to each other with
a shallow northerly dip (collectively, the 'CV13 Spodumene
Pegmatite')
- At CV9, geological
modelling is ongoing on a hole-by-hole basis and as assays are
received. However, current interpretation indicates CV9 is
comprised of a single principal dyke, which outcrops at surface,
has a steep northerly dip, and is moderately plunging to the
east-southeast. A strike length of 450 m has been delineated
through drilling and outcrop.
- All reported widths
are core length. True widths are not calculated for each hole due
to the relatively wide drill spacing at this stage of delineation
and the typical irregular nature of pegmatite, as well as the
varied drill hole orientations. As such, true widths may vary
widely from hole to hole.
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Diagrams
|
- Appropriate maps
and sections (with scales) and tabulations of intercepts should be
included for any significant discovery being reported These should
include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
|
- Please refer to the
figures included herein as well as those posted on the Company's
website.
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Balanced
reporting
|
- Where comprehensive
reporting of all Exploration Results is not practicable,
representative reporting of both low and high grades and/or widths
should be practiced to avoid misleading reporting of Exploration
Results.
|
- Please refer to the
table(s) included herein as well as those posted on the Company's
website.
- Results for
pegmatite intervals <2 m are not reported.
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Other substantive
exploration data
|
- Other exploration
data, if meaningful and material, should be reported including (but
not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples – size and method
of treatment; metallurgical test results; bulk density,
groundwater, geotechnical and rock characteristics; potential
deleterious or contaminating substances.
|
- The Company is
currently completing baseline environmental work over the CV5 and
CV13 pegmatite area. No endangered flora or fauna have been
documented over the Property to date, and several sites have been
identified as potentially suitable for mine
infrastructure.
- The Company has
completed a bathymetric survey over the shallow glacial lake which
overlies a portion of the CV5 Spodumene Pegmatite. The lake depth
ranges from <2 m to approximately 18 m, although the majority of
the CV5 Spodumene Pegmatite, as delineated to date, is overlain by
typically <2 to 10 m of water.
- The Company has
completed preliminary metallurgical testing comprised of HLS and
magnetic testing, which has produced 6+% Li2O spodumene
concentrates at >70% recovery on both CV5 and CV13 pegmatite
material, indicating DMS as a viable primary process approach, and
that both CV5 and CV13 could potentially feed the same process
plant. A DMS test on CV5 Spodumene Pegmatite material returned a
spodumene concentrate grading 5.8% Li2O at 79% recovery,
strongly indicating potential for a DMS only operation to be
applicable.
- Various mandates
required for advancing the Project towards economic studies have
been initiated, including but not limited to, environmental
baseline, metallurgy, geomechanics, hydrogeology, hydrology,
stakeholder engagement, geochemical characterization, as well as
transportation and logistical studies.
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Further work
|
- The nature and
scale of planned further work (eg tests for lateral extensions or
depth extensions or large-scale step-out drilling).
- Diagrams clearly
highlighting the areas of possible extensions, including the main
geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
|
- The Company intends
to continue drilling the pegmatites of the Corvette Property,
focused on the CV5 Pegmatite and adjacent subordinate lenses, as
well as the CV13 Pegmatite. A follow-up drill program at the CV9
Spodumene Pegmatite is anticipated following receipt of
assays.
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SOURCE Patriot Battery Metals Inc
