Patriot Announces Additional 2023 Drill Results at CV13 and Provides Infrastructure Development Update, Corvette,
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
Patriot Announces Additional 2023 Drill Results at CV13 and
Provides Infrastructure Development Update, Corvette,
Quebec, Canada
February 25, 2024 – Vancouver, BC, Canada February 26, 2024 – Sydney, Australia
Highlights
• Patriot continues to intersect spodumene at the CV13 Pegmatite, with highlights:
o 22.5 m at 1.10% Li2O, including 15.2 m at 1.57% Li2O (CV23-300).
o 19.4 m at 1.20% Li2O (CV23-312).
o 16.1 m at 1.54% Li2O, including 7.2 m at 2.57% Li2O (CV23-319).
• The CV13 Pegmatite has been traced over a 2.3 km strike length, as defined by multiple
outcrop exposures and drilling completed to date, and remains open along strike at
both ends and to depth. The distance between CV5 and CV13 has now been traced
to ~3 km with ongoing drilling focused, in part, on closing this gap.
• Assays are reported herein for 15 drill holes completed in 2023 at the CV13 Spodumene
Pegmatite. For drill holes completed in 2023, results remain to be reported for an
additional 20 holes at the CV13 Pegmatite, 42 holes at the CV5 Pegmatite, and 18 holes
at the CV9 Pegmatite.
• At the Corvette Property i n 2024, t hrough February 22, a pproximately 23,000 m of
drilling have been completed – 21,200 m at CV5 and 1, 800 m at CV13 – with ten (10)
drill rigs active at site.
o Two (2) drill rigs are currently active at the CV13 Pegmatite as part of the ongoing
2024 winter drill program. The drilling is targeted to further delineate the principal
pegmatite body at CV13 along strike and downdip.
o The Company is mobilizing an additional drill rig as part of the winter drill program,
which will focus on geomechanical holes at CV5.
• An updated mineral resource estimate (“MRE”) for the Corvette Project, including both
CV5 and a maiden MRE for the CV13 spodumene pegmatites, is pla nned for Q3 2024,
with the focus of the MRE update to increase the confidence of the Inferred Resource.
• The Company’s exploration camp at KM-270 of the Trans-Taiga Road, Shaakichiuwaanan,
is operational at an initial 80 -person capacity, with a planned increase to at least a 132 -
persons later in the year.
• The 2024 winter program is entirely ground supported (i.e., no helicopters) , through a
combination of winter and all-season access road constructed by the Company, extending
from KM -270 of the Trans -Taiga Road to CV5 and through to CV13 , resulting in
dramatically reduced costs for the drill program.
• A geomechanical drill program at CV5 is anticipated to begin shortly , with geotechnical
and hydrogeological drill programs planned for this summer.
Figure 1: Drill holes completed through 2023 at CV13 Spodumene Pegmatite.
Figure 2: Cross-section of the CV13 Spodumene Pegmatite’s geological model along its western arm.
Core assay results reported herein for CV23-305 and 312.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce additional drill results from the 2023
program completed at the CV13 Spodumene Pegmatite , as well as recent infrastructure
development supporting the ongoing 2024 drill program at the Corvette Property. The Corvette
Property (the “Property” or “Project”), wholly owned by the Company, is located in the Eeyou
Istchee James Bay region of Quebec. The CV13 Spodumene Pegmatite is located approximately
3 km west-southwest of the CV5 Spodumene Pegmatite, which hosts a maiden mineral resource
estimate of 109.2 Mt at 1.42% Li2O inferred1 and is situated approximately 13.5 km south of the
regional and all‑weather Trans-Taiga Road and powerline infrastructure.
CV13 Pegmatite, 2023 Drill Results
Drill results for 15 drill holes completed in 2023 at the CV13 Spodumene Pegmatite are reported
herein (Figure 1). These holes primarily target the near -surface and downdip extension of the
principal pegmatite body along its western limb, as well as the eastern limb. Results include:
• 22.5 m at 1.10% Li2O, including 15.2 m at 1.57% Li2O (CV23-300).
• 19.4 m at 1.20% Li2O (CV23-312).
• 16.1 m at 1.54% Li2O, including 7.2 m at 2.57% Li2O (CV23-319).
• 13.8 m at 1.16% Li2O (CV23-320).
The drilling continues to trace spodumene pegmatite at CV13 to the west -northwest along
geological trend and remains open along strike and downdip in this area. R esults remain to be
reported for twelve (12) drill holes, covering approximately 300 m of strike, over the far portions
of this western limb. The mineralized pegmatite in this area has a shallow northeasterly dip
resulting in pegmatite being traced down dip for over 250 m with minimal drilling, while still only
being approximately 100 m vertical depth below surface – see geological cross-section in Figure
2, which includes drill holes CV23-305 and 312 as reported herein.
Results are also reported herein for one ( 1) hole completed in 2023 (CV23 -300, noted below)
within the apex of the regional host structure at CV13. One (1) drill hole (CV23-302) completed
in 2023 remains to be reported from this area (Figure 1).
• 22.5 m at 1.10% Li2O, including 15.2 m at 1.57% Li2O (CV23-300).
Results reported herein for drill holes completed over the eastern limb of the CV13 Pegmatite
(CV23-293, 299, 301, and 306) returned only minor intervals of pegmatite ranging from <2 m to
5.8 m (core length). However, the pegmatite remain s well mineralized in drill holes CV23 -299
(4.7 m at 1.38% Li2O) and CV23-293 (2.7 m at 1.10% Li2O). The pegmatite dyke thins in this area
of the eastern limb; however, is confirmed to thicken moving northeast erly along strike as
evidence from drill holes completed in 2022. Results for six (6) drill holes completed in 2023
along the eastern limb of CV13 remain to be reported (Figure 1).
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” dyk e),
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). The principal dyke at CV13 has been traced over a 2.3 km strike
length, as defined by multiple outcrop exposures and drilling completed to date, and remains
open along strike at both ends and to depth.
In 2024, through February 22, approximately 23 ,000 m of drilling have been completed at
Corvette – 21,200 m at CV5 and 1, 800 m at CV13 – with ten (10) drill rigs active at site ( see
Figure 3 and Figure 4). Two (2) of the ten (10) drill rigs are currently active at the CV13 Pegmatite.
The drilling at CV13 is targeted to further delineate the principal pegmatite body along strike and
downdip. An updated mineral resource estimate for the Corvette Project, including both the
CV5 and CV13 spodumene pegmatites, is planned for Q3 2024.
Core sample assays for drill holes reported herein are presented in Table 1 for all pegmatite
intersections >2 m. Drill hole locations and attributes are presented in Table 2. For drill holes
completed in 2023, results remain to be reported for the CV13 Pegmatite ( 20 holes), the CV5
Pegmatite (42 holes), and the CV9 Pegmatite (18 holes).
Table 1: Core assay summary for drill holes reported herein at the CV13 Spodumene Pegmatite
Infrastructure Development
The 2024 winter drill program is entirely ground supported, utilizing the all- season/winter road
constructed by the Company, which extends south from KM-270 of the Trans-Taiga Road to the
CV5 Spodumene Pegmatite (Figure 3, Figure 4, and Figure 5). The winter portion of this road has
been further extended westerly to support drilling at the CV13 Spodumene Pegmatite. No
helicopters are currently active at site due this infrastructure now emplaced and in daily use.
The Company’s exploration camp at KM-270 of the Trans-Taiga Road has been operational since
early January at an initial 80-person capacity, with an anticipated increase to at least 132 -person
later in the year (Figure 6). After consultation with elders from the Cree Nation of Chisasibi by
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments
CV23-293 45.4 48.1 2.7 1.10 171 CV23-312 97.3 116.6 19.4 1.20 39
CV23-294 Previously reported CV23-316 94.6 108.2 13.6 1.00 35
CV23-299 33.3 38.1 4.7 1.38 133 CV23-318 48.8 68.9 20.1 0.62 37
93.2 95.2 2.0 0.01 43 incl. 57.0 67.0 10.0 1.09 30
CV23-300 66.5 89.0 22.5 1.10 69 CV23-319 57.7 73.9 16.1 1.54 59
incl. 69.3 84.5 15.2 1.57 83 incl. 60.8 68.0 7.2 2.57 68
CV23-301 49.7 55.5 5.8 0.07 90 CV23-320 104.8 118.6 13.8 1.16 62
CV23-302 74.7 94.1 19.4 Assays pending CV23-322 7.8 11.6 3.8 Assays pending
CV23-305 90.4 107.4 17.0 0.43 68 238.7 249.8 11.1 Assays pending
incl. 101.2 105.9 4.7 0.95 52 271.7 273.7 2.0 Assays pending
CV23-306 No >2 m pegmatite intersections CV23-323 110.4 120.4 10.0 0.99 155
CV23-309 49.9 71.5 21.6 0.68 56 CV23-324 54.7 75.0 20.2 Assays pending
incl. 53.3 64.2 10.9 1.18 63 CV23-328 73.1 82.3 9.2 1.19 58
CV23-311 188.1 216.7 28.7 Assays pending CV23-330 123.0 131.1 8.1 1.17 46
250.7 254.4 3.7 Assays pending
256.1 264.1 8.1 Assays pending
267.3 275.8 8.4 Assays pending
313.4 318.2 4.8 Assays pending
330.1 335.6 5.4 Assays pending
409.2 415.5 6.3 Assays pending
(1) All intervals are core length and presented for all pegmatite intervals >2 m. Geological
modelling is ongoing; (2) Collared in pegmatite; (3) Includes minor intervals of non-
pegmatite units (typically <3 m)
the tallyman and his family, the camp has recently been formally named the Shaakichiuwaanan
Camp (pronounced Shaa-gi-chi-waa-nan), a Cree word meaning "to climb up a hill or mountain".
The camp is located only 13 km directly north of the CV5 Pegmatite, thereby dramatically
reducing the transport time of field staff to and from the drill area.
The combination of the Company’s exploration camp on the Trans-Taiga and direct access roads
to the CV5 and CV13 pegmatites have dramatically reduced the costs of the drill program through
more cost-effective staff movement, reduced transport time, reduced accommodation costs, and
reduced time for drill moves.
In addition to the camp and road infrastructure development, the Company anticipates
completing a geomechanical drill program this winter at CV5. Data from this drilling and sampling
will provide key datapoints to assess pit slope stability and design. This work will be followed in
the summer by an infrastructure and condemnation geotechnical drill program, which will include
potential tailings and waste rock storage sites, process plant, and camp accommodations for
operation. A phase II hydrogeological drill program at CV5 is also planned for the summer, which
will build upon the preliminary hydrogeological model completed in 2023.
Figure 3: Road access to drill hole CV24-378 at the CV5 Spodumene Pegmatite.
Figure 4: Road access to drill hole CV24-380 at the CV5 Spodumene Pegmatite.
Figure 5: Portion of all-season road, constructed by the Company, extending south from
Shaakichiuwaanan Camp, at KM-270 of the Trans-Taiga Road, to the CV5 Spodumene
Pegmatite.
Figure 6: Shaakichiuwaanan exploration camp constructed by the Company at KM-270 of the
Trans-Taiga Road (January 2024).
Table 2: Attributes for drill holes reported herein at the CV13 Spodumene Pegmatite
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% Li 2O 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
Hole ID Substrate Total Depth (m) Azimuth (°) Dip (°) Easting Northing Elevation (m) Core Size Cluster Comments
CV23-293 Water 133.9 140 -45 565325.0 5928117.9 430.8 NQ CV13
CV23-299 Land 113.1 0 -90 565324.1 5928118.8 430.9 NQ CV13
CV23-300 Land 146.2 200 -45 564715.7 5927915.2 404.2 NQ CV13
CV23-301 Land 113.0 140 -45 565359.3 5928206.8 435.5 NQ CV13
CV23-305 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
CV23-309 Land 79.9 200 -45 564244.9 5928082.6 404.2 NQ CV13
CV23-312 Land 149.0 200 -90 564373.8 5928148.9 408.1 NQ CV13
CV23-316 Land 164.0 200 -60 564278.9 5928174.3 406.9 NQ CV13
CV23-318 Land 98.0 200 -90 564245.2 5928083.3 404.0 NQ CV13
CV23-319 Land 149.1 200 -45 564147.1 5928113.7 400.9 NQ CV13
CV23-320 Land 176.1 200 -90 564279.1 5928174.7 406.9 NQ CV13
CV23-323 Land 143.0 200 -60 564180.4 5928212.8 411.6 NQ CV13
CV23-328 Land 432.0 200 -45 564057.2 5928154.3 403.9 NQ CV13
CV23-330 Land 215.1 200 -90 564180.7 5928213.2 412.1 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