Patriot Announces Final 2023 Drill Hole Results for the CV13 and CV9 Pegmatites, Corvette, Quebec, Canada
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 Final 2023 Drill Hole Results for the CV13
and CV9 Pegmatites, Corvette, Quebec, Canada
April 7, 2024 – Vancouver, BC, Canada April 8, 2024 – Sydney, Australia
Highlights
CV13 Pegmatite
• Best drill hole of 2023 program at the CV13 Spodumene Pegmatite.
o 28.7 m at 1.49% Li2O, including 20.4 m at 2.03% Li2O (CV23-311).
o Represents new zone at shallow depth along the pegmatite’s eastern arm.
o Represents area of significant pegmatite stacking.
• Continued strong assays from western arm at CV13.
o 20.2 m at 1.16% Li2O, including 15.4 m at 1.49% Li2O (CV23-324).
• Through 2023, the CV13 Spodumene Pegmatite has been traced by drilling over a n
approximate 2.3 km strike length and remains open along strike at both ends and
to depth.
• Core assay results are reported herein for the remaining 20 drill holes completed in 2023
at CV13.
• An updated mineral resource estimate (“MRE”) for the Corvette Project, including both
the CV5 and CV13 spodumene pegmatites, is planned for Q3 2024. The MRE update will
focus on an increase in confidence from the inferred to indicated categories for CV5, as
well as a maiden estimate for CV13.
CV9 Pegmatite
• Wide intervals of variably mineralized spodumene- bearing pegmatite intersected in
maiden drill program at the CV9 Spodumene Pegmatite.
o 99.9 m at 0.39% Li2O, including 30.6 m at 0.80% Li2O (CV23-345).
o 15.7 m at 0.76% Li2O, including 10.8 m at 1.00% Li2O (CV23-267).
o 17.9 m at 0.69% Li2O, including 8.6 m at 1.03% Li2O (CV23-310).
o 7.7 m at 1.35% Li2O (CV23-333).
• The CV9 Pegmatite remains open along strike and at depth, with true widths of <5 m to
80+ m interpreted through drilling, which suggests strong tonnage potential.
• Core assay results are reported herein for all 18 drill holes completed in 2023 at the CV9
Spodumene Pegmatite.
• A total of 42 drill holes com pleted in 2023 remain to be reported , all from the CV5
Spodumene Pegmatite.
• At the Corvette Property in 2024, through April 4, approximately 57,000 m of drilling
have been completed – 47,000 m at CV5 and 10,000 m at CV13 – with eleven (11) drill
rigs active at site. The 2024 winter drill program is expected to wrap up by the end of
April with drilling at the Property scheduled to resume in early June.
Darren L. Smith, Vice President of Exploration for the Company, comments: “The 2023 drill
program at CV13 was very successful and confirmed spodumene pegmatite over an approximate 2.3 km
strike length, as well as down dip more than 300 m . The pegmatite remains open along strike and to
depth and has confirmed high-grade zones with multiple core samples over 5% Li2O (+60% spodumene).
The discovery in CV23-311 is also very significant, returning our best reported intersection to date (28.7 m
at 1.49% Li2O) at a depth not expected and with more cumulative width of pegmatite downhole than
any other hole at CV13 through the 2023 program. This is a high-priority area for follow-up.”
Mr. Smith continued, “The results of our maiden drill program at CV9 are very encouraging and have
demonstrated that the pegmatite can thicken dramatically up to 80 m interpreted true width, which is a
strong indication of tonnage potential of the system. Although variably mineralized in spodumene (typically
<5 to 15%), the drilling has demonstrated strong grades (>1% Li2O) over 7 to 10+ m intervals in addition
to wider, more moderately mineralized zones (e.g., 30.6 m at 0.80% Li2O in CV23-345). Given the nature
of lithium pegmatite systems, it is common for low to moderate grade zones to neighbour strongly
mineralized zones. Therefore, the combination of thick pegmatite intercepts with spodumene common in
the system is a key indicator of potential and we look forward to following up on these encouraging
results. CV9 remains open along strike at both ends and to depth.”
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 September to November 2023 at the CV13 and CV9 spodumene
pegmatites. 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 and CV9
spodumene pegmatites are located approximately 3 km west -southwest and 14 km west of the
CV5 Spodumene Pegmatite, respectively , 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 the remaining 20 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 and eastern limbs.
Results are highlighted by drill hole CV23-311 which returned 28.7 m at 1.49% Li2O, including
20.4 m at 2.03% Li2O, and represents a new ly discovered zone at shallow depth (~135 m
vertical depth from surface) (Figure 1 and Figure 2). This is the widest mineralized drill
intercept reported to date from CV13. Additionally, the sum of all pegmatite intercepts in
the hole totalled 71 m over 13 separate intervals, which is also the most pegmatite encountered
in a single drill hole at CV13 reported to date. Although some of these additional intercepts have
low to moderate spodumene contents, the presence of a marked increase in pegmatite intercepts
downhole is significant and indicates a stacking of pegmatite dykes. Stacking of pegmatite dykes is
an indicator of a potentially larger total volume of pegmatite which may have a reasonable
potential to thicken and /or coalesce into a larger body down-dip, up-dip, or along strike. This
area is of keen interest for follow-up.
The most eastern drill hole (CV23-365) completed in 2023 at CV13, also the final hole of the
2023 drill program, returned 19.7 m at 0.43% Li 2O, including 6.3 m at 1.22% Li 2O. This is
significant as it builds upon the 30+m pegmatite intersections from the 2022 drill holes in the
area that were only weakly mineralized. The mineralized interval in CV23 -365 supports a
thickening of the pegmatite in this area , which is also now confirmed to be accompanied by
material levels of spodumene mineralization. This area of CV13 is also of keen interest for follow-
up.
Moving north west along the western arm at CV13, drill hole CV23 -324 returned a strong
intercept of 20.2 m at 1.16% Li 2O, including 15.4 m at 1.49% Li 2O (Figure 1). Geological
cross-sections of this area interpret mineralized spodumene pegmatite traced down-dip at least
280 m (~130 m vertical depth from surface ) (Figure 3 and Figure 4). Moving further northwest
along the western arm, t he principal pegmatite thins to <5 m at places, although remains open
and often well mineralized. Results reported herein include 12.6 m at 0.80% Li2O, including 8.8 m
at 1.07% Li2O (CV23-346), 7.8 m at 1.53% Li2O (CV23-336), and 6.3 m at 0.82% Li 2O, including
2.5 m at 2.02% Li2O (CV23-360).
The CV13 Spodumene 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 <150 m). Through 2023, the CV13 Spodumene
Pegmatite has been traced by drilling over an approximate 2.3 km strike length and remains open
along strike at both ends and to depth (Figure 2, Figure 3, and Figure 4). Its most eastern drill
hole is situated ~3 km along geological trend to the southwest of the CV5 Spodumene Pegmatite
(Figure 5). This highly prospective corridor, also coincident with a local structural and
magnetic trend, remains to be drill tested.
In 2024, t hrough April 4, approximately 10,000 m in additional drilling has been completed at
CV13 with core assays remaining to be reported for all of these holes. A maiden mineral resource
estimate (“MRE”) for CV13 is planned to be announced in Q3 2024, which will form part of a
larger MRE for the Corvette Project including both the CV5 and CV13 spodumene pegmatites.
Core sample assays for drill holes reported herein from the CV13 Spodumene Pegmatite are
presented in Table 1 for all pegmatite intersections >2 m. Drill hole locations and attributes are
presented in Table 3.
Figure 1: Drill holes completed at the CV13 Spodumene Pegmatite through 2023.
Figure 2: Geological model of the CV13 Spodumene Pegmatite (as of end 2023), including cross-section
along the pegmatite’s eastern arm. Core assay results reported herein for CV23-311 and 322.
Figure 3: Geological model of the CV13 Spodumene Pegmatite (as of end 2023), including cross-section
along the pegmatite’s western arm. Core assay results reported herein for CV23-324.
Figure 4: Geological model of the CV13 Spodumene Pegmatite (as of end 2023), including cross-section
along the pegmatite’s western arm. Core assay results for drill holes are previously reported.
Figure 5: Highly prospective corridor for lithium pegmatite between CV5 and CV13, a distance of
approximately 3 km. Drill hole collars presented for those completed through 2023 (CV23-365).