Patriot Completes Highly Successful In -Fill & Development Drill Program Propelling Shaakichiuwaanaan Down the Development Pipeline High-grade mineralised intercepts including 100.5 m at 1.62% Li2O from in -fill drilling at the cornerstone CV5
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 Completes Highly Successful In -Fill & Development Drill
Program Propelling Shaakichiuwaanaan Down the Development Pipeline
High-grade mineralised intercepts including 100.5 m at 1.62% Li2O from in -fill drilling at the cornerstone CV5
Deposit, plus extensive geotechnical and hydrogeological drill programs completed supporting the Feasibility Study
November 26, 2024 – Vancouver, BC, Canada November 27, 2024 – Sydney, Australia
Highlights
• Extensive i n-fill drilling program successfully completed at the cornerstone
CV5 Spodumene Pegmatite Deposit to support the ongoing Feasibility Study.
o No further in-fill drilling is anticipated to achieve the primary objective of upgrading
Inferred Mineral Resources to the Indicated category.
• Record 65,384 m drilled during summer/fall program, for a total of 128,052 m during
calendar 2024, further de-risking and advancing the Project.
• Wide, well-mineralized, and high-grade pegmatite intercepts from in-fill drilling at CV5.
o 124.5 m at 1.25% Li2O, including 16.5 m at 2.32% Li2O (CV24-613).
o 100.5 m at 1.62% Li2O, including 55.5 m at 2.01% Li2O (CV24-651).
o 77.3 m at 1.66% Li2O, including 17.5 m at 2.16% Li2O (CV24-639).
o 67.2 m at 1. 18% Li 2O, and 25.8 m at 2. 65% Li 2O, including 17.6 m at
3.30% Li2O (CV24-661).
o 55.1 m at 1.31% Li2O, including 9.5 m at 2.07% Li2O (CV24-609).
o 44.3 m at 1.47% Li2O and 58.1 m at 1.21% Li2O (CV24-591).
o 48.5 m at 1.85% Li2O, including 8.5 m at 4.86% Li2O (CV24-616).
• Expansive geotechnical and hydrogeological drill campaigns also now largely
complete at CV5 and at proposed infrastructure development sites – 70 holes (1,514 m)
completed as part of the summer-fall program.
• Core assay results are reported in this announcement for 64 in-fill drill holes (22,408 m)
at CV5 and 70 geotechnical & hydrogeological drill holes (1,514 m) to support CV5
development and the ongoing Feasibility Study.
o Results for 98 drill holes (31,513 m) remain to be reported from CV5 – 90
in-fill (29,754 m) and 8 geomechanical (1,759 m).
o Results for 33 drill holes ( 9,950 m) remain to be reported from CV 13 –
focused on extensions of the high-grade Vega Zone.
• Delivery of Feasibility Study and maiden Ore Reserve Estimate for the CV5
Spodumene Pegmatite remains on schedule for Q3-2025.
Darren L. Smith, Patriot Executive and Vice President of Exploration, comments: “We are extremely
pleased with the considerable amount of work completed and results to date from our 2024 summer-fall
drill program, which focused on advancing the CV5 Spodumene Pegmatite to Feasibility . The team has
done a phenomenal job executing the program efficiently and cost effectively, delivering high-quality
datasets that ha ve exceeded our expectations in many regards. The successful completion of the 2024
drill programs at the cornerstone CV5 Spodumene Pegmatite marks a very significant milestone for the
Project, laying the foundations for the Feasibility Study and maiden Ore Reserve Estimate, which remains
on schedule for Q3-2025.
“With the bulk of the in -fill and development drilling now behind us, the team is focusing on other key
workstreams and objectives to advance the Project through development. We are looking forward to a
pivotal year ahead in 2025,” added Mr. Smith.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce the completion of its 2024 summer-
fall drill programs and reporting of the first batch of core assay results for in-fill holes at the CV5
Spodumene Pegmatite, which forms part of the Company’s wholly owned Shaakichiuwaanaan
Property (the “Property” or “Project”), located in the Eeyou Istchee James Bay region of Quebec.
The Shaakichiuwaanaan Property hosts a consolidated Mineral Resource Estimate (“MRE”) of
80.1 Mt at 1.44% Li 2O Indicated and 62.5 Mt at 1.31% Li 2O Inferre d1. The CV5 Spodumene
Pegmatite is accessible year-round by all-season road and is situated approximately 14 km from a
major hydroelectric powerline corridor.
The focus of the 2024 summer-fall drill program at Shaakichiuwaanaan was to collect all remaining
drill data required to support a Feasibility Study for the CV5 Spodumene Pegmatite, scheduled for
completion in Q3-2025. This included:
• Significant in-fill drilling at CV5 to underpin a Mineral Resource update (focused on
converting Inferred Resources to Indicated Resources) to underpin a maiden Ore Reserve
Estimate, which will be declared as part of the Feasibility Study.
• Expansive geotechnical and hydrogeological drilling at CV5 , and areas of proposed
infrastructure in support of development.
• Geomechanical drilling targeting various areas of the anticipated open-pit and underground
development at CV5.
Drill results for 64 in-fill drill holes at the CV 5 Spodumene Pegmatite are reported in this
announcement (Figure 1). Results continue to demonstrate that high grades and large spodumene
crystal sizes are consistently present along the 4.6 km mineralized pegmatite strike length defined
to date (Figure 2 and Figure 3).
1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt
at 1.31% Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground
CV5), and 0.80% Li2O (underground CV13) with an Effective Date of August 21, 2024 (through drill hole CV24 -526). Mineral
Resources are not Mineral Reserves as they do not have demonstrated economic viability.
The in-fill drill program at CV5 was completed in early October and targeted Inferred classified
blocks within the current Mineral Resource (see news release dated August 5, 2024), which are
anticipated to be included in the Feasibility Study mine plan.
Additionally, optical and acoustic televiewer data was collected in more than 20 holes at CV5
during the program to capture oriented structural data to support geological modelling and mine
design. The various datasets collected are currently undergoing final validation and are being
incorporated into an updated pegmatite and host rock geological model.
The Company and its geological consultants are working closely to finalize this geological model
over the next few weeks as the program’s final assays are received , which will then advance
towards a classified block model (Indicated / Inferred) to underpin Feasibility mine design.
Figure 1: Drill holes completed to date at CV5 with result highlights in this announcement.
Figure 2: Very high-grade spodumene pegmatite interval with very large spodumene crystals
from the western area of CV5 (drill hole CV24 -616), located approximately 2 km west of the high -
grade Nova Zone. The core grades 4.76% Li2O over 8.5 m (286.9 m to 295.4 m).
Figure 3: Very large, near inclusion free, spodumene crystals in quartz pegmatite at CV5 from drill-hole
CV24-627 (depth of 166.5 m).
From the summer-fall program, results for a total of 98 drill holes (31,513 m) remain to be
reported from CV5 – 90 in-fill (29,754 m) and 8 geomechanical (1,759 m). Additionally, results
for a total of 33 drill holes (9,950 m) remain to be reported from CV13 – focused on the
high-grade Vega Zone (Figure 5) (see news release dated July 7, 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.
In addition to the in-fill drilling at CV5, a large component of the summer-fall program comprised
an expansive geotechnical and hydrogeological drill program at CV5 and areas of proposed
infrastructure in support of development and the ongoing Feasibility Study. This included locations
for the proposed process plant, mining camp, stockpiles, waste rock and tailings management
facilities, as well as the envisioned open-pit and underground development areas of the CV5
Spodumene Pegmatite (Figure 4).
The objective of the hydrogeological drilling is to characterize the shallow and deep groundwater
flow regime over the Project area. The objective of the geotechnical drilling is to characterize the
overburden and immediate bedrock contacts to support infrastructure build design. Often both
hydrogeological and geotechnical data is collected from the same drill hole. No mineralized
pegmatite intervals were encountered in these holes , as was expected due to their typically very
shallow nature (average depth of 22 m) and regional locations (see news release dated October
27, 2024, for additional program details).
A collective 70 drill holes were completed as part of the summer -fall geotechnical and
hydrogeological program, all reported in this announcement. Location and attribute information
for the geotechnical and hydrogeological drill holes are presented in Table 3.
Figure 4: Geotechnical and hydrogeological drill holes completed in support of CV5 development.
Figure 5: Drill holes completed during 2024 at the CV5 and CV13 spodumene pegmatites.
Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite.
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
CV24-559 424.2 439.9 15.8 0.76 218 CV24-591 223.2 229.3 6.1 0.17 90
447.4 467.5 20.1 0.32 341 338.6 382.9 44.3 1.47 84
CV24-563 122.8 127.3 4.4 0.35 386 incl. 344.5 365.5 21.0 2.29 93
327.6 357.4 29.9 1.11 175 409.6 467.7 58.1 1.21 78
incl. 346.2 351.4 5.2 2.65 130 incl. 434.5 457.5 23.0 1.99 104
387.1 389.5 2.4 0.27 145 CV24-592 78.4 95.4 17.0 0.83 52
433.3 437.9 4.6 2.22 508 103.4 115.9 12.5 1.23 183
CV24-564 13.1 51.5 38.5 (2) 1.61 137 160.9 167.1 6.2 0.01 144
incl. 13.1 25.7 12.7 2.99 188 290.3 299.1 8.8 0.84 190
201.6 211.8 10.3 1.10 170 372.8 377.6 4.8 0.12 192
CV24-567 115.4 117.6 2.2 0.02 8 CV24-596 488.9 509.8 20.9 0.22 82
233.4 236.9 3.5 0.01 394 CV24-597 241.9 257.0 15.2 1.23 165
279.8 285.2 5.4 0.87 302 261.2 265.8 4.6 0.23 185
CV24-573 48.7 81.3 32.6 0.20 106 CV24-598
252.9 260.6 7.7 2.39 158 CV24-599 168.0 171.5 3.5 1.12 168
CV24-574 433.6 452.4 18.8 1.60 118 245.4 247.5 2.1 0.05 378
incl. 433.6 447.3 13.7 2.09 98 CV24-600 31.5 55.4 23.9 1.66 213
CV24-576 147.0 149.1 2.1 0.02 12 185.4 200.5 15.1 1.36 206
184.1 199.3 15.2 0.58 281 CV24-602 No >2 m pegmatite intersections
CV24-577 124.1 127.4 3.3 0.39 176 CV24-603 97.7 111.2 13.5 0.34 95
135.3 140.4 5.1 0.36 174 118.9 131.7 12.8 0.70 131
315.9 317.9 2.0 1.20 139 135.6 138.9 3.3 1.80 387
321.7 347.4 25.7 (3) 1.41 125 143.8 149.2 5.4 0.92 121
CV24-581 74.1 76.3 2.2 0.13 33 244.7 259.6 14.9 0.96 190
219.6 221.7 2.1 0.03 224 CV24-604 216.8 220.2 3.3 0.04 106
233.9 236.6 2.8 0.02 13 232.7 239.3 6.6 0.23 86
281.3 285.0 3.8 1.13 184 CV24-606 299.6 307.8 8.3 0.85 343
CV24-585 416.2 439.1 22.9 0.30 86 336.2 357.3 21.1 0.40 176
CV24-586 82.4 85.6 3.1 0.34 71 363.2 368.7 5.5 0.24 92
111.7 115.0 3.3 0.40 594 CV24-607 52.5 75.4 22.9 0.74 115
131.8 144.2 12.4 1.85 223 195.8 207.9 12.1 0.32 91
incl. 131.8 137.3 5.6 3.35 168 CV24-609 205.1 260.2 55.1 1.31 112
152.9 161.3 8.3 0.40 281 incl. 211.0 220.5 9.5 2.07 176
269.3 275.1 5.8(3) 1.77 978 CV24-610 463.0 474.9 12.0 0.04 240
339.0 344.8 5.8 0.86 105 480.5 492.7 12.2 0.05 141
CV24-589 351.7 355.2 3.6 0.04 134 CV24-612 20.4 36.2 15.9 (2) 1.10 146
No >2 m pegmatite intersections
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
CV24-613 87.6 212.1 124.5 (3) 1.25 147 CV24-628 No >2 m pegmatite intersections
incl. 143.5 160.0 16.5 2.32 203 CV24-629 356.4 367.5 11.1 0.18 100
247.7 251.6 3.9 0.01 222 464.2 466.8 2.6 0.01 80
268.9 276.6 7.8 1.50 113 CV24-630 459.0 484.1 25.2(3) 0.48 107
282.2 289.4 7.2 0.06 84 incl. 474.8 484.1 9.3 (3) 1.16 160
CV24-614 28.5 35.7 7.2(2) 0.89 199 CV24-631 No >2 m pegmatite intersections
66.5 89.6 23.1 0.98 208 CV24-632 20.0 29.5 9.5 0.81 151
incl. 80.6 85.9 5.4 2.12 366 101.8 107.9 6.1 0.45 96
CV24-615 278.9 285.8 7.0 0.63 205 139.0 142.3 3.3 0.25 109
325.6 355.1 29.5 0.15 202 CV24-635 332.5 390.8 58.3 0.63 250
CV24-616 85.1 88.8 3.7 0.56 104 incl. 334.5 347.5 13.0 1.29 341
96.9 102.2 5.2 2.18 272 CV24-636 205.3 227.0 21.7 0.44 117
156.7 177.5 20.8 0.06 298 incl. 221.6 227.0 5.4 1.53 74
265.7 314.2 48.5 1.85 197 368.9 446.8 77.9 0.66 141
incl. 275.0 301.3 26.3 3.04 200 incl. 372.1 409.2 37.1 1.09 121
or 286.9 295.4 8.5 4.76 208 479.8 505.9 26.1 0.22 119
329.9 334.5 4.6 1.08 186 522.1 527.8 5.7 0.01 65
337.4 342.7 5.2 2.79 251 CV24-637 94.5 110.1 15.7 1.53 200
CV24-617 250.5 257.2 6.7 0.79 217 164.2 168.0 3.8 0.86 139
260.4 263.6 3.3 0.01 160 208.2 216.1 7.9 0.31 240
CV24-618 35.7 38.3 2.6 1.23 84 241.9 263.5 21.6 2.16 110
49.0 78.9 30.0 0.84 113 269.0 276.8 7.8 0.90 203
incl. 49.0 59.0 10.0 1.42 108 294.9 313.0 18.1 (3) 1.22 206
CV24-620 316.3 354.0 37.8 0.85 305 incl. 306.2 313.0 6.8 2.25 223
incl. 323.0 336.4 13.4 1.73 346 CV24-638 68.9 143.9 75.0(3) 0.81 121
362.0 376.7 14.7 0.18 163 incl. 114.0 141.0 27.0 (3) 1.28 127
CV24-621 209.5 268.1 58.6 (3) 1.08 110 197.5 249.8 52.3(3) 0.80 81
incl. 261.5 267.5 6.0 2.35 81 incl. 197.5 225.0 27.5 1.18 98
CV24-622 12.9 15.7 2.8(2) 0.91 100 CV24-639 92.7 170.0 77.3 1.66 155
46.7 56.6 9.9 1.86 130 incl. 150.5 168.0 17.5 2.16 160
CV24-623 48.7 57.2 8.5(3) 0.45 92 CV24-641 17.6 21.2 3.7(2) 2.74 1044
85.1 88.0 2.8 0.32 125 68.1 108.9 40.8 1.09 77
CV24-626 26.1 140.7 114.6 (2) 0.30 209 162.4 170.9 8.5 0.38 88
incl. 103.0 139.0 36.0 0.76 148 202.3 205.9 3.6 0.59 103
CV24-627 112.5 149.3 36.8 1.62 108 CV24-644 322.2 360.2 38.0 1.64 267
incl. 115.6 133.1 17.5 2.37 128 incl. 341.2 349.0 7.8 3.94 241
161.3 179.6 18.2 1.39 175 CV24-645 253.5 260.0 6.5 1.59 96
258.4 266.7 8.3 1.08 121 CV24-646 153.9 203.6 49.7 (3) 1.49 97
336.3 348.2 11.9(3) 0.11 82 incl. 158.8 184.0 25.2 1.96 109
372.9 375.1 2.2 0.01 58