Final 2023 Drill Hole Results for CV5 at Corvette including 133.9 m at 1.21% Li2O and Extending Strike to 4.6 km
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
Final 2023 Drill Hole Results for CV5 at Corvette including
133.9 m at 1.21% Li2O and Extending Strike to 4.6 km
April 21, 2024 – Vancouver, BC, Canada April 22, 2024 – Sydney, Australia
Highlights
• Strong assay results over wide intervals from infill drilling at CV5.
o 133.9 m at 1.21% Li2O, including 41.5 m at 1.52% Li2O; and 42.2 m at 1.59%
Li2O, including 10.1 m at 3.22% Li2O (CV23-298).
o 50.5 m at 1.42% Li2O, including 11.4 m at 3.13% Li2O; and 38.7 m at 2.06%
Li2O, including 15.6 m at 3.26% Li2O (CV23-285).
o High-grade intercepts at CV23-298 and 285 are located further west and
outside of the previously delineated Nova Zone.
• Assays and the continuity of mineralization along CV5’s western extension are encouraging
and situated outside of the June 2023 mineral resource estimate (“MRE”).
o 30.5 m at 0.77% Li2O, including 14.2 m at 1.57% Li2O; and 21.0 m at 0.81%
Li2O, including 11.0 m at 1.46% Li2O (CV23-283) – collared in pegmatite.
o 21.3 m at 0.88% Li 2O, including 6.4 m at 1.87% Li 2O; and 24.9 m at 0.83%
Li2O, including 11.1 m at 1.80% Li2O (CV23-295).
• Through 2023, CV5 mineralization has been traced by drilling over a 4.6 km strike length
and remains open along strike at both ends and to depth.
• The 2024 winter drill program (now complete), totaled 62,518 m (166 holes), including
50,961 m (121 holes) at CV5, and 11,55 7 m (45 holes) at CV13 (with first assays to be
reported shortly).
• Since discovery (fall 2021) through to the recently completed 2024 winter drill program ,
the Company had completed 134,129 m (369 holes) at CV5, of which only 56,461 m (166
holes) were included in the June 2023 MRE.
• An updated MRE in Q3 2024 will focus on upgrading the resource category at CV5 and
include a maiden resource at CV13, incorporating all drilling through to April 2024.
Darren L. Smith, Vice President of Exploration for the Company, comments: “The 2023 drilling at
CV5 has more than doubled the spodumene pegmatite’s strike from 2.2 km at the end of 2022, to 4.6 km
at the end of 2023 and remains open. To put this further into perspective, the maiden mineral resource
estimate for CV5 – announced July 2023 – covered only ~3.7 km of this strike length and highlights the
deposit’s growth potential over time. While much work has been done, in many respects it feels like we
are only just beginning to unlock the potential at Corvette.”
Figure 1: Growth of the CV5 Spodumene Pegmatite through 2023.
Figure 2: Simplified geological cross-section over the central area of CV5. Core assay results announced
herein for CV23-298 and 313.
Figure 3: Centimetre to decimetre size spodumene crystals with feldspar and smoky quartz in drill hole
CV23-298, at approximately 343 m to 347 m depth (down hole), grading 3+% Li2O over interval.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce the remaining core assay results for
drill holes completed in 2023 at the CV5 Spodumene Pegmatite. The Corvette Property (the
“Property” or “Project”), wholly owned by the Company, is located in the Eeyou Istchee James
Bay region of Quebec. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate
(“MRE”) of 109.2 Mt at 1.42% Li 2O inferred 1, is situated approximately 13.5 km south of the
regional and all‑weather Trans-Taiga Road and powerline infrastructure.
Drill results for the remaining 42 drill holes completed in 2023 at the CV5 Spodumene Pegmatite
are reported herein (Figure 4). This drilling included both infill holes as well as holes completed
over the western extension of the pegmatite body, discovered subsequent to the June 2023 MRE.
Collectively, through to the end of 2023, drilling has traced the CV5 Spodumene
Pegmatite over a strike length of 4.6 km, which remains open along strike at both ends
and to depth (Figure 1). Highlights for the holes reported herein include:
Infill Drill Holes
• 133.9 m at 1.21% Li2O, including 41.5 m at 1.52% Li2O; and 42.2 m at 1.59% Li2O,
including 10.1 m at 3.22% Li2O (CV23-298).
• 50.5 m at 1.42% Li 2O, including 11.4 m at 3.13% Li 2O; and 38.7 m at 2.06% Li2O,
including 15.6 m at 3.26% Li2O (CV23-285).
• 123.5 m at 0.72% Li2O, including 35.5 m at 1.07% Li2O; and 12.9 m at 1.30% Li2O,
(CV23-272A).
• 76.7 m at 0.69% Li2O, including 34.1 m at 0.98% Li2O (CV23-327).
Drill holes CV23-298 and CV23-285 returned sub-intervals of very high grade at 10.1 m at 3.22%
Li2O and 15.6 m at 3.26% Li2O, respectively (Figure 2, Figure 3, Figure 5, and Figure 6). These
high-grade intercepts are situated at depth within the central areas of CV5, outside of the Nova
Zone, and highlight the robustness of the mineralized system.
Western Extension
• 30.5 m at 0.77% Li 2O, including 14.2 m at 1.57% Li 2O; and 21.0 m at 0.81% Li 2O,
including 11.0 m at 1.46% Li2O (CV23-283) – collared in pegmatite.
• 21.3 m at 0.88% Li 2O, including 6.4 m at 1.87% Li 2O; and 24.9 m at 0.83% Li 2O,
including 11.1 m at 1.80% Li2O (CV23-295).
Over the western extension at CV5, the principal pegmatite is interpreted to have bifurcated into
two (2) sub-parallel trending bodies, both of which remain mineralized and open to the west and
at depth. This is illustrated via a simplified geological cross-section for drill holes CV23-283 and
295 (Figure 7 and Figure 8). Additionally, very high-grade intervals continue to be discovered over
the extension including 3.9 m at 3.99% Li2O (CV23-273), as well as in the final and most westerly
drill hole completed in 2023 at CV5 (CV23-364), which returned a strong intercept of 13.1 m at
0.91% Li2O, including 4.3 m at 2.22% Li 2O (Figure 9). Collectively, the results announced herein
continue to demonstrate strong grades and widths of spodumene pegmatite at the western
extension, which remains open.
Through 2023, the CV5 and CV13 spodumene pegmatites have been traced by drilling to within
approximately 2.9 km of each other (Figure 10). This highly prospective corridor between
the two spodumene pegmatites, also coincident with a local structural and magnetic
trend, remains to be drill tested.
In 2023 at the Corvette Property , the Company completed a total of 78,213 m (266 holes),
including 58,460 m (168 holes) at CV5, 14,917 m (74 holes) at CV13, 4,071 m (18 holes) at CV9,
and 765 m (6 holes) at Camp Shaakichiuwaanan.
The 2024 winter drill program, which recently concluded at the Property, totalled 62,518 m (166
holes) – 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13. All results for this drilling
remain to be reported. A summary update on the program is anticipated to be announced shortly.
Since discovery (fall 2021) through to the recently completed 2024 winter drill program, the
Company had completed 134,129 m (369 holes) at CV5, of which only 56,461 m (166 holes) were
included in the June 2023 MRE. The majority of th e drilling completed since the June 2023 MRE
has been focused on infill rather than resource growth in order to upgrade the resource category
from inferred to indicated at CV5.
An updated MRE for the Corvette Project , incorporating drilling through April 2024, is planned
for Q3 2024. This MRE update will include both the CV5 and CV13 spodumene pegmatites and a
total anticipated metreage of 134,129 m (369 holes) and 29,121 m (133 holes), respectively. The
primary objective of the Q3 2024 MRE update is to increase confidence in resource category at
CV5, from inferred to indicated, to further support development studies underway.
Core sample assays for drill holes reported herein from the CV 5 Spodumene Pegmatite are
presented in Table 1 for all pegmatite intersections >2 m. Drill hole locations and attributes are
presented in Table 2.
Figure 4: Drill holes completed at the CV5 Spodumene Pegmatite through 2023.
Figure 5: Simplified geological cross-section over the central area of CV5. Core assay results announced
herein for CV23-272A and 285.
Figure 6: Centimetre to decimetre size spodumene crystals with feldspar and smoky quartz in drill hole
CV23-285, at approximately156 m to 161 m depth (TOP) and 166 m to 168 m depth (BOTTOM),
grading 3+% Li2O over the respective interval.
Figure 7: Simplified geological cross-section over western extension at CV5, discovery post the June 2023
MRE. Core assay results announced herein for CV23-283 and 295.
Figure 8: Centimetre to decimetre size spodumene crystals with feldspar and smoky quartz in drill hole
CV23-295. From 269.1 m to 271.4 m core grades 3.4% Li2O.