Patriot Discovers New High-Grade Zone at the CV13 Spodumene Pegmatite, Corvette Property, Quebec, Canada
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com TSX-V: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
LEGAL\63309512\1
Patriot Discovers New High-Grade Zone at the CV13 Spodumene
Pegmatite, Corvette Property, Quebec, Canada
October 18, 2023 – Vancouver, BC, Canada October 19, 2023 – Sydney, Australia
Highlights
• Discovery of new high-grade zone (with sample ranges including 3 – 5% Li2O) near-
surface at the CV13 Spodumene Pegmatite.
o 12.7 m at 2.46% Li 2O ( 73.3 m to 86.0 m), including 7.6 m at 3.82% Li 2O
(CV23-191).
o 8.0 m at 2. 86% Li 2O ( 57.2 m to 65.2 m), including 4.3 m at 5.03 % Li 2O
(CV23-195).
o 10.2 m at 2.70% Li 2O ( 56.3 m to 66.5 m), including 5.8 m at 4.48% Li 2O
(CV23-198)
o 10.7 m at 2.79% Li 2O (67.0 m to 77.7 m), including 7.3 m at 3.94% Li 2O
(CV23-200)
• The CV13 Spodumene Pegmatite trend extends over an approximate 2.3 km strike length
through multiple outcrop exposures, of which, approximately 1.1 km has now been traced
continuously by drilling – remains open along strike at both ends and to depth.
• With significant mineralization now delineated further west at CV5 and at CV13, there are
now several options for the mining starter pit.
• Company continues to drill westward from CV5 towards CV13 to test potential
connectivity.
• Thirty-seven (37) drill holes, totalling approximately 7,300 m, have been completed in
2023 through October 9 at the CV13 Spodumene Pegmatite.
• Additional rig now coring for a total of eight (8) drill rigs currently active at site – four (4)
at CV5, three (3) at CV13, and one (1) at CV9. Drilling is anticipated to ramp up further
after the holidays with ten (10) drill rigs anticipated by mid January 2024.
Darren L. Smith, Company Vice President of Exploration, comments: “Drilling at CV13 has
progressed steadily since our recommencement of activities in August, with results continuing to
support the interpretation of an extensive, shallow-dipping and near-surface spodumene pegmatite
dyke. The discovery announced today of a +3% Li 2O high-grade zone at CV13, now traced over
multiple drill holes, is reminiscent of the high -grade Nova Zone at CV5. As we continue to close
the distance between CV5 and CV13 through drilling, this newly discovered high -grade zone at
CV13, coupled with the large spodumene crystals observed (up to 1.3 m in drill core), supports
the interpretation that both share the same “plumbing” system.
Further highlights include;
• Metallurgy results to date provide a strong indication that material from both the CV13
Spodumene Pegmatite and CV5 Spodumene Pegmatite may be processed jointly using the
same design criteria and flowsheet, and therefore, processable at the same plant.
o Fe2O3 contents of <0.70% consistently demonstrated in final spodumene
concentrates produced from both the CV5 and CV13 pegmatites following heavy
liquid separation (HLS) and magnetic separation at the bench scale.
• Assays are pending for the vast majority of drill holes completed over the summer -fall
program. The Company will update the market as material sets of assays return from the
labs. The Company expects to provide an updated mineral resource estimate in mid-2024.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce core assays for the first series of drill
holes completed at the CV13 Spodumene Pegmatite as part of the ongoing 2023 summer-fall drill
program being completed at its wholly owned Corvette Property (the “Property” or “Project”),
located in the Eeyou Istchee James Bay region of Quebec. At the Property, the CV13 Spodumene
Pegmatite is located approximately 3.15 km along strike to the southwest of the CV5 Spodumene
Pegmatite. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate of 109.2 Mt
at 1.42% Li2O inferred1, is situated approximately 13.5 km south of the regional and all -weather
Trans-Taiga Road and powerline infrastructure.
Core assay results from the first series of drill holes completed this year at the CV13 Spodumene
Pegmatite have returned the highest -grade assays reported to date (Figure 1 and Figure 2, Table
1). Specifically, these drill holes have identified a newly discovered high- grade lithium zone –
12.7 m at 2.46% Li 2O, including 7.6 m at 3.82% Li 2O (CV23-191), 8.0 m at 2.86% Li 2O,
including 4.3 m at 5.03% Li 2O (CV23-195), 10.2 m at 2.70% Li 2O, including 5.8 m at 4.48%
Li2O (CV23-198), and 10.7 m at 2.79% Li 2O, including 7.3 m at 3.94% Li 2O (CV23-200).
Additionally, drill hole CV23-195 returned two (2) samples assaying greater than 6% Li 2O,
including 1.2 m at 6.41% Li2O.
The new high-grade zone at CV13 is located near-surface (~40-50 m vertical depth), and remains
open in multiple directions with a current strike length of approximately 170 m. Additionally, in
an adjacent drill hole (CV23-271), situated approximately 60 m to the west, an approximate 1.3 m
long, inclusion-free, and cream -white spodumene crystal was intersected (Figure 3) – assays
pending – and may represent an extension of this high-grade zone. Such high grades of lithium are
not typical in Li-Cs-Ta (“LCT”) pegmatite systems and this, coupled with the very large sizes of
spodumene crystals, highlight the unique and world-class nature of the LCT pegmatite system at
Corvette.
The discovery of a new and near-surface high-grade zone at CV13 provides multiple opportunities,
that the Company will investigate, for defining an initial production location(s) (i.e., mining starter
pit) that is complimentary to the CV5 mineral resource. With significant mineralization now
delineated further west at CV5 and at CV13, lake development at CV5 could come later in the
mine schedule.
The principal spodumene pegmatite dyke at CV13 (the “upper” dyke) is geologically modelled to
be shallowly dipping to the north, covering an extensive a rea, and remains open along strike at
both ends and to depth. A cross-section of the western portion of the CV13 Spodumene Pegmatite’s
current geological model is presented in Figure 4. The mineralized trend at CV13 extends for
approximately 2.3 km as defined by outcrop and drilling through 2022. The drill holes completed
in 2023 along this trend have now confirmed a continuous, variably mineralized spodumene
pegmatite extending along at least 1.1 km of this trend and remains open.
Pegmatite intersections of the upper dyke are up to 26 m (core length) over the thirty -seven (37)
drill holes (~ 7,300 m) completed in 2023 through October 9. A “lower” pegmatite dyke , which
also has a shallow and northerly dip, has been tested in multiple drill holes in 2023; however,
remains of secondary focus at this time due to more variability in thickness and mineralization.
The very high grades of lithium in drill core returned from CV13 to date, coupled with the large
spodumene crystals a s well as similar textures and gangue mineralogy as CV5, supports the
interpretation that both CV13 and CV5 share the same plumbing system and may potentially form
one continuous pegmatite body subsurface. However, a significant amount of drill testing remains
to be completed along this corridor to confirm this interpretation. Through September 18, 2023,
drilling had closed the gap between the CV13 and CV5 spodumene pegmatites to approximately
3.15 km (Figure 5, see news release dated September 24, 2023).
CV13 Metallurgy
A heavy liquid separation (HLS) test program assessed the liberation and recovery characteristics
of spodumene at different locations along the collective ~2.3- km trend that defines the CV13
Pegmatite (see news release dated July 4, 2023). The testwork returned very positive results with
lithium recoveries ranging from 67% to 77% at an interpolated spodumene concentrate grade of
6.00% Li2O and <0.70% Fe2O3. Recoveries also remained strong on the lower grade samples,
which is a testament to the coarse -grained nature of the spodumene making it more amenable to
liberation. Collectively, the preliminary HLS results strongly indicate that a dense media
separation (DMS) only operation at CV13 is applicable.
To date, the metallurgical data collected from CV5 and CV13 is highly encouraging and
demonstrates that a DMS only flowsheet is applicable to both pegmatites. Further, the data
suggests that both pegmatites could be jointly crushed and feed the same process plant, while
maintaining high recoveries into a marketable spodumene concentrate of +5.5% Li2O.
Due to the road closures in western parts of the Eeyou Istchee James Bay extending significantly
past the date in which the Company was able to re-commence drill operations at the Property, the
delivery of drill core samples to the laboratory was significantly delayed. However, core samples
from a large number of drill holes have now arrived at the laboratory with processing underway.
Results will be reported in batches as received.
Figure 1: Drill holes completed at the CV13 Spodumene Pegmatite through October 9, 2023.
Figure 2: Oblique view of the CV13 Spodumene Pegmatite’s geological model over the newly discovered
and near-surface high-grade zone.
Figure 3: Very ‘clean’ spodumene crystal of ~1.3 m in length – drill hole CV23-271 – at the CV13
Spodumene Pegmatite.
Figure 4: Cross-section of the CV13 Spodumene Pegmatite’s geological model, located at the western end
of the current drilling. Core assay results pending for CV23-238, 242, 263, and 269.
Figure 5: Proximity of the CV5 Spodumene Pegmatite to the CV13 Spodumene Pegmatite.
Table 1: Core assay summary for drill holes reported herein at the CV13 Spodumene Pegmatite
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments
CV23-191 73.3 86.0 12.7 2.46 147
incl. 75.8 83.5 7.6 3.82 145
CV23-195 57.2 65.2 8.0 2.86 378
incl. 58.2 62.5 4.3 5.03 261
or 61.3 62.5 1.2 6.41 154
238.4 242.8 4.5 0.04 80
CV23-198 56.3 66.5 10.2 2.70 265
incl. 57.2 63.0 5.8 4.48 265
CV23-200 67.0 77.7 10.7 2.79 99
incl. 68.0 75.3 7.3 3.94 99
CV23-204 50.0 54.8 4.8 1.94 599
incl. 52.0 54.0 2.0 4.39 1,273 Lepidolite zone
(1) All intervals are core length and presented for all pegmatite intervals >2 m