Patriot Battery Metals Discovers New Lithium Pegmatites During 2021 Surface Exploration, and Samples 5,300 ppm Ta2O5 in Scoping Drill Hole, at the Corvette Property, Quebec
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com CSE: PMET / OTC: PMETF / FSE: R9GA
Patriot Battery Metals Discovers New Lithium Pegmatites During 2021 Surface Exploration,
and Samples 5,300 ppm Ta2O5 in Scoping Drill Hole, at the Corvette Property, Quebec
Vancouver, BC, Canada
March 8, 2022 – Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA)
is pleased to announce the results from the 2021 surface exploration program, as well as results for drill hole CF21-
014, which targeted a new lithium pegmatite discover y – termed ‘CV12’ – in a new area of the Property, situated
approximately 8.5 km west of the CV5-6 pegmatites. Field work was completed during late summer and fall of 2021,
on the Company’s flagship and wholly owned Corvette Property (the “Property”), located in the James Bay Region
of Quebec, proximal to the regional and all-weather Trans-Taiga Road and powerline infrastructure.
Over the course of approximately twenty-three (23) days, between August 20th and October 8th 2021, the Company
completed prospecting and rock sampling over a portion of the CV Lithium Trend, which extends across the Property.
The work resulted in the discovery of several new lithium pegmatite occurrences , accompan ied by significant
tantalum mineralization. Highlights follow (see Figure 1):
• New lithium pegmatite discovery – CV12 – eleven (11) outcrop samples ranged from nil to >5.0% Li 2O,
averaging 2.81% Li2O.
o Significant tantalum grades from 49 ppm to 1,478 ppm Ta2O5, averaging 438 ppm Ta2O5
o Main outcrop approximately 5 to 40 m in width and 140 m in length
o Additional lithium pegmatite outcrops discovered over approximate 1.0 km strike length
• New lithium pegmatite outcrop discovered approximately 120 m west-northwest of the CV8 Pegmatite,
with a grab sample assay of 5.21% Li2O and 86 ppm Ta2O5, significantly extending the potential strike length
of the CV8 occurrence.
• Two lithium pegmatite boulders discovered east-southeast of CV12 and CV8, assaying 2.69% Li 2O and
198 ppm Ta2O5, and 2.20% Li2O and 265 ppm Ta2O5 respectively, indicating additional yet to be discovered
pegmatites are present to the north east, and on trend with the Company’s recently acquired Deca -Goose
claim block.
Company President and Director , Blair Way, comments: “the more we explore, the more we are finding in this new
and emerging lithium pegmatite district. Our 2021 program focused on preliminary drilling at CV5-6; however, our
surface work has continued to uncover new pegmatite occurrences in the CV8 and CV12 area, located more than 8
km to the west . The surface results, coupled with results of drill hole CF21 -014 that targeted the CV12 Pegmatite,
highlight the considerable exploration upside the Property offers outside of our core area of focus at CV5-6. Further,
the pegmatites in the CV8-CV12 area host considerable tantalum, including an exceptionally high-grade core sample
of 5,300 ppm Ta 2O5. The geochemistry of surface and core sampl es along the CV Lithium Trend continue to
demonstrate that the Corvette Property is host to a lithi um mineraliz ing district of considerable magnitude and,
collectively, emphasize the potential for additional discovery.”
CV12 Lithium Pegmatite and Associated Trend (New Discovery)
In 2019, a single sample of pegmatite was collected in the area and returned a modest 0.27% Li2O and 55 ppm Ta2O5.
Based on location within the overall CV Lithium Trend, and potential pegmatite identified from satellite imagery, the
area was revis ited in 2021. The Company is pleased to report that lithium -tantalum mineralization in pegmatite
outcrops (visually identified as spodumene) were discovered over a strike length of at least 1.0 km, with the largest
outcrop ~140+ m in length by 5 to 40 m in width (the ‘CV12 Pegmatite’) (Figure 1, and Photo 1) . Eleven (11) grab
samples were collected in 2021 from the CV12 Pegmatite and associated trend and range from nil to 5.99% Li2O and
49 to 1,478 ppm Ta2O5, with an average of 2.81% Li2O and 438 ppm Ta2O5 (Table 1).
The final hole of the 2021 drill program tested the CV12 Pegmatite to gather additional information ahead of follow-
up field work planned for the summer of 2022. The hole intercepted a combined 9.3 m of pegmatite over a 55.6 m
interval – ranging in individual thickness from 0.1 to 4.6 m – and returned 0.60% Li 2O and 121 ppm Ta 2O5 over 5.1
m, including 2.78% Li2O and 192 ppm Ta2O5 over 0.4 m. In addition, at 70.5 m depth, an intercept of 0.38% Li2O and
5,300 ppm Ta2O5 over 0.4 m was returned, which is the highest tantalum grade reported to date from the Property
by a consi derable margin . When coupled with the consistently high- grade tantalum found in surface samples
proximal, the tantalum drill intercept at 5,300 ppm Ta 2O5 is a strong indication of the highly evolved nature of the
pegmatite and its potential to host tantalum and lithium mineralization. (Note, all drill intercepts noted are core
length, as true width is not known). The Company intends to continue surface mapping at the CV12 Pegmatite during
the spring/summer 2022, to be followed by a summer drill program.
The main CV12 pegmatite outcrop, as well as the multiple outcrops present on trend to the west-northwest, includes
several of the highest tantalum grades returned to date from the Property, including 5.55% Li2O and 813 ppm Ta2O5,
1.52% Li2O and 954 ppm Ta2O5, and 0.47% Li2O and 1,478 ppm Ta2O5. Collectively, the grades of tantalum returned
from the CV12 area are significant, extending over a strike length of approximately 1.0 km . Lithium pegmatites are
commonly fractionated with tantalum enriched zones often occurring proximal to lithium enriched zones. As well as
being a commonly recoverable by- product in lithium pegmatite operations, the presence of tantalum in pegmatite
is also very strong indicator of significant lithium mineralization.
Table 1: Samples collected to date at the CV12 Pegmatite and associated trend
The mineralized pegmatite outcrop present west-northwest and along trend of the main CV12 outcrop were only
discovered in the final days of the 2021 surface exploration program, and therefore, no follow -up has been
completed. As such, the Company intends to prospect and map the area in detail this summer, as well as channel
sample the outcrops present.
Year
Collected Sample ID Type Source Li2O (%) Ta2O5 (%) Comments
2021 124354 Grab Outcrop 5.55 813 On trend (Northwest)
2021 124355 Grab Outcrop 1.52 954 On trend (Northwest)
2021 124334 Grab Outcrop 0.09 166 On trend (Northwest)
2021 124333 Grab Outcrop 0.00 221 On trend (Northwest)
2021 124306 Grab Outcrop 5.99 194 Main Pegmatite Outcrop
2021 124304 Grab Outcrop 5.62 76 Main Pegmatite Outcrop
2021 124305 Grab Outcrop 5.08 162 Main Pegmatite Outcrop
2021 124307 Grab Outcrop 3.98 49 Main Pegmatite Outcrop
2021 124303 Grab Outcrop 2.48 192 Main Pegmatite Outcrop
2019 142151 Grab Outcrop 0.27 55 Main Pegmatite Outcrop
2021 124308 Grab Outcrop 0.47 1478 On trend (Southeast)
2021 124309 Grab Outcrop 0.13 515 On trend (Southeast)
CV8 Lithium Pegmatite (Strike Extended)
As part of the 2021 surface exploration, the CV8 Pegmatite, discovered in 2019, was revisited and prospected along
strike. The CV8 Pegmatite is located approximately 6 00 m south of the CV 12 Pegmatite (Figure 1, Photo s 2 & 3).
Approximately 1 20 m to the west-northwest of the CV8 outcrop , a new mineralized pegmatite outcrop –
approximately 4 x 6 m in size – was discovered and a single grab sample collected, assaying 5.21% Li2O and 86 ppm
Ta2O5. The Company intends to drill test the CV8 Pegmatite as part of its summer 2022 drill program , and continue
surface exploration along trend.
Regional Lithium Potential
In addition to the multiple pegmatite outcrops discovered in the CV 12 area, and the CV8 Pegmatite extension, the
2021 sampling outlined several other potential areas along the greater CV Lithium Trend where anomalous
geochemistry (Li, Sb, Ta, Be) is present and indicative of an LCT pegmatite environment. The Company intends to
complete follow-up surface exploration in these areas in the summer/fall of 2022.
Part of this surface exploration will include tracing of two lithium -tantalum mineralized pegmatite boulders
discovered east-southeast of the CV12 and CV8 pegmatites (Figure 1), assaying 2.69% Li2O and 198 ppm Ta2O5, and
2.20% Li2O and 265 ppm Ta 2O5, respectively. Based on glacial ice movement in the region, the discovery indicat es
additional yet to be discovered pegmatite outcrop is present to the northeast, and on strike with the Company’s
recently acquired Deca-Goose claim block.
A large majority of the CV Lithium Trend across the Property remains to be assessed for the presence of lithium
pegmatite. Historically, the focus over the area was gold and base metal exploration, and therefore, occurrences of
lithium – which are found in spodumene pegmatite along the trend – were never evaluated n or sampled. In 2017,
the Company confirmed the presence of high-grade spodumene pegmatite along the trend across the Property and,
to date, a total of twelve ( 12) distinct pegmatite occurrences have been discovered . The Company has recently
consolidated its land position over the area and now holds 100% interest in more than 50 km of prospective lithium
pegmatite trend (the ‘CV Lithium Trend’) – see news release dated February 15, 2022.
Quality Assurance / Quality Control (QAQC)
All rock samples collected were shipped to Activation Laboratories Ltd. in Ancaster, ON, for multi -element analysis
(including lithium) by four -acid digestion with ICP -OES finish (package 1F2) and tantalum by INAA (code 5B), with
over limits for Li determi ned by the code 8 -4 Acid ICP Assay. The Company has relied on the internal lab QAQC for
the surface sampling analysis.
Management cautions that prospecting surface rock samples (grab/chip) and associated assays, as discussed herein,
are selective by nature and represent a point location, and therefore may not necessarily be fully representative of
the mineralized horizon sampled.
About the CV Lithium Trend
The CV Lithium Trend is an emergi ng spodumene pegmatite district discovered by the Company in 2017 and spans
the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor, which
is part of the more than 25 -km long and Property -wide CV Lithium Trend. It consists of numerous spodumene
pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5
Pegmatite – a large (~220 m long and 20- 40 m wide), well -mineralized outcrop with drill intercepts of 155.1 m at
0.94% Li2O and 117 ppm Ta2O5 (CF21-002), and 58.1 m at 1.25% Li2O and 194 ppm Ta2O5 (CF21-003). Drilling indicates
a pegmatite body approximating 60 m in true width, and therefore considerably larger than that observed in outcrop.
The high number of well-mineralized pegmatites in this core area of 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.
Figure 1: Summary of the CV8 and CV12 lithium pegmatite areas
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com CSE: PMET / OTC: PMETF / FSE: R9GA
Q
ualified Person
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the
Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43 -101, has reviewed the
technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral
properties containing battery, base, and precious metals.
The Company’s flagship asset is the Corvette Property, which includes the wholly owned Corvette, FCI East, FCI West,
Deca-Goose, Felix, and Corvette East claim blocks, located in the James Bay Region of Québec. The land package
hosts significant lithium potential highlighted by the CV5-6 spodumene pegmatite with drill intercepts of 0.94% Li2O
and 117 ppm Ta 2O5 over 155.1 m (CF21 -002), and 1.25% Li 2O and 194 ppm Ta 2O5 over 58.1 m at (CF21 -003).
Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and
10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.
The Company also holds 100% ownership of the Freeman Creek Property in Idaho, USA which hosts two prospective
gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m,
and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property,
NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact us at [email protected] Tel: +1 ( 778) 945-2950 , or visit
www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
“BLAIR WAY” “ADRIAN LAMOUREUX”
Blair Way, President & Director Adrian Lamoureux, CEO & Director
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in
nature are intended to be, and are hereby identified as, “forward- looking statements”. Forward-looking statements may be identified by words
including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking
statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and
uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.