Patriot Discovers New Spodumene-Pegmatite Occurrence (CV14) at 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 Discovers New Spodumene-Pegmatite Occurrence
(CV14) at Corvette, Quebec, Canada
March 24, 2024 – Vancouver, BC, Canada March 25, 2024 – Sydney, Australia
Highlights
REGIONAL
• New spodumene pegmatite occurrence discovered (herein termed “CV14”) ,
situated along geological trend of the CV9 and CV10 spodumene pegmatite clusters.
o Grab samples assays of 0.94% Li2O and 0.86% Li2O.
o CV14 spodumene pegmatite outcrop ~33 m x 9 m in size.
o ~3.6 km long prospective trend extending from CV9, through CV10, to CV14.
• Significant areas of the Property remain to be evaluated for lithium pegmatite.
• The 2024 surface exploration program is planned to consist of channel sampling of known
LCT pegmatites (including CV14), detailed geological mapping over the CV5 & CV13
spodumene pegmatites, and regional prospecting over unexplored areas of the Property.
CV5 PEGMATITE
• Extensive spodumene pegmatite boulder field, discovered south of the CV5 Spodumene
Pegmatite, strengthens interpretation of CV 5 trending eastward towards CV4, and
indicates additional yet to be discovered spodumene pegmatite(s) to the south
and outside of the currently discovered pegmatite.
• A tightly spaced ground-magnetic survey completed over the CV5 through CV13 corridor
has further resolved local trends and will provide strong guidance as drilling advances
through this area.
CV13 PEGMATITE
• A total of 147 m of channel sampling completed at the CV13 Spodumene Pegmatite with
results including:
o 13.4 m at 1.22% Li2O; 6.4 m at 1.44% Li2O; and 5.4 m at 1.93% Li2O.
o 16.7 m at 0.80% Li2O, including 8.1 m at 1.36% Li2O.
o Data will help constrain the geological model for CV13 ahead of a maiden mineral
resource estimate scheduled for Q3 2024.
Darren Smith, V ice President of Exploration for the Company, comments: “ The 2023 surface
program, albeit significant ly reduced in scope due to the unprecedented wildfires in the province , was
successful in identifying a new spodumene pegmatite occurrence (CV14) along trend of the CV9 and
CV10 spodumene pegmatites. The discovery highlights the extensive nature of the spodumene
mineralized system along the CV Lithium Trend, which extends across the Property where a large portion
remains unexplored for lithium pegmatite. We are excited to follow-up this area with systematic surface
exploration as this local prospective lithiu m pegmatite trend has now been extended to approximately
3.6 km. Coupled with the numerous spodumene pegmatite boulders discovered over the Property, there
remains strong potential for additional discoveries at Corvette.”
Figure 1: Spodumene pegmatite clusters west of the CV5 Pegmatite – CV8, 9, 10, 12, 13, and the
recently discovered CV14.
Figure 2: Spodumene crystal at CV14, a new spodumene pegmatite outcrop discovery in 2023.
Figure 3: Spodumene crystals at CV14, a new spodumene pegmatite outcrop discovery in 2023, in a
matrix of feldspar and smoky quartz.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce results from its 2023 surface
exploration campaign 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 CV5 Spodumene Pegmatite, with a maiden mineral resource estimate of 109.2 Mt
at 1.42% Li2O inferred1, is situated central to the Property, approximately 13.5 km south of the
regional and all‑weather Trans-Taiga Road and powerline infrastructure.
The 2023 surface exploration program at Corvette included ground geophysics, geological
mapping, channel sampling, and regional prospecting. The program was completed sporadically
over the summer- fall field season due to the unprecedented wildfires in the province, which
significantly reduced the program’s scope.
Despite the disruptions, the 2023 surface exploration at Corvette continued to build upon prior
success, highlighted by the discovery of a new spodumene pegmatite occurrence, herein
termed “CV14”, located southwest along the same magnetic trend as the CV9 and CV10
spodumene pegmatite clusters (Figure 1). Grab sample assays from the principal pegmatite
outcrop (~33 m x 9 m), comprised of spodumene hosted in a smoky -quartz and feldspar
groundmass, include 0.94% Li2O and 0.86% Li2O (Figure 2 and Figure 3). Collectively, CV14
forms part of an approximate 3. 6 km long prospective spodumene pegmatite trend
extending through CV10, and to the CV 9 Spodumene Pegmatite. This discovery at CV14
highlights a local trend of growing significance and prospectivity, and requires additional
prospecting and mapping.
Additionally, approximately 450 m up- ice to the northeast of CV14 a mineralized pegmatite
boulder was discovered ( 0.53% Li2O). Based on interpreted glacial ice direction in the area, it
may suggest the potential for a yet to be discovered lithium pegmatite to be present
to the north -northeast of the primary CV 9-CV10-CV14 trend. Limited surface
exploration has been completed in this area to date.
A total of 47 4 surface rock grab/chip samples were collected over the course of the 2023
prospecting program. In addition to the discovery of the CV14 spodumene pegmatite occurrence
(outcrop), a plethora of spodumene mineralized pegmatite boulders were discovered south of
the CV5 S podumene Pegmatite with 29 boulders, dominantly subangular and 1- 3 m in size,
assaying between 0.49% Li2O to 3.22% Li2O (Figure 4 and Figure 5). Interpretation of glacial ice
movement over the Property indicates that, although many of these boulders are undoubtedly
sourced from the principal CV5 Pegmatite body, a significant number indicate spodumene
pegmatite(s) is present near -surface immediately south of CV5, and along strike
eastwardly of the principal CV5 pegmatite body towards CV4, where it remains open.
Other mineralized boulders on the property also suggest undiscovered spodumene
pegmatite to the north of the primary CV Lithium Trend (Figure 4). These include a
large (2 m x 2 m) mineralized boulder (1.00% Li2O) discovered in 2019 to the north of the CV5-13
corridor, suggesting potential for yet to be discovered spodumene pegmatite north of CV5. Also,
two mineralized boulders (2.20% and 2.69% Li2O), discovered in 2021, located northeast of the
CV8 Spodumene Pegmatite suggest potential for yet to be discovered spodumene pegmatite
northeast of CV12 and north of CV13.
Figure 4: Interpreted high-potential areas for at or near-surface spodumene pegmatite based on down-
ice mineralized boulders.
Figure 5: Top – spodumene pegmatite boulder situated ~2 km south of CV5, indicating potential for yet
to be discovered spodumene pegmatite to the south and/or east of CV5’s current known extent. Sample
collected assayed 2.2% Li2O. Bottom – spodumene crystal from same boulder.
A tightly spaced (50 m) ground magnetic survey over the CV5 through CV13 corridor was also
completed in 2023. The data has further resolved local geological trends along the
corridor and will provide strong guidance as drilling advances through this area
(Figure 6). There is a distinct lack of outcrop over the corridor due to glacial till cover , further
highlighting the value of the magnetic dataset to assist in understanding the local structure and
trends which can be used as a general proxy to interpret pegmatite location.
At CV13, the surface channeling campaign, which began in 2022, continued in 2023 with 147 m
of channel sampling completed. R esults in 2023 include 13.4 m at 1.22% Li 2O, 6.4 m at
1.44% Li2O, 5.4 m at 1.93% Li 2O, and 16.7 m at 0.80% Li 2O, including 8.1 m at
1.36% Li2O. A peak sample of 6.43% Li2O (over 0.5 m) was also collected . Of the 147 m of
channel sampling completed in 2023 at CV13, a total of 139 m consisted of pegmatite and
collectively averaged 0.51% Li2O and 120 ppm Ta2O5. The channel sampling data, which effectively
approximates a horizontal drill hole, will help constrain the geological model for CV13 ahead of
a maiden mineral resource estimate scheduled for Q3 2024.
The 2023 surface work also included initial prospecting over approximately 1/3 of the Property’s
Corvette East claim block. Although a significant amount of pegmatite was discovered in this area
of the Property, no spodumene pegmatite was identified. However, multiple samples returned
anomalous pathfinder geochemistry, including low K/Rb ratios indicating evolved and highly
fractionated pegmatites are present. The area remains of high interest for continued surface
exploration with a significant number of LiDAR derived targets remaining to be prospected
(Figure 7).
The 2024 surface exploration campaign is currently being designed; however, is anticipated to
include:
• Follow-up of the CV14 Spodumene Pegmatite discovery with targeted prospecting
traverses and mapping, as well as channel sampling.
• Follow-up of the multiple boulder fields indicating yet to be discovered spodumene
pegmatite.
• Additional detailed geological mapping of the CV5 Spodumene Pegmatite to further
constrain the geological model at surface.
• Continued channel sampling of the CV5 and CV13 pegmatites to constrain the geological
model near surface and support an indicated mineral resource classification.
Figure 6: 2023 ground magnetic data presented atop property-wide airborne magnetic data, highlighting
local trends along the CV5 to CV13 corridor (cool to colours = lows to high magnetic intensity).