Patriot Drills 104.5 m of 0.97% Li2O and 61.9 m of 1.42% Li2O, and Extends Strike Length of Mineralization to 2.2 km at the CV5 Pegmatite, Corvette Property, Quebec
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com TSX-V: PMET / OTC: PMETF / FSE: R9GA
Patriot Drills 104.5 m of 0.97% Li2O and 61.9 m of 1.42% Li2O, and
Extends Strike Length of Mineralization to 2.2 km at the CV5
Pegmatite, Corvette Property, Quebec
October 12, 2022 – Vancouver, BC, Canada
Highlights
Significant Intercepts
• Continued wide and high-grade drill intercepts returned from the CV5 Pegmatite over a significant lateral
distance between holes
o 0.97% Li2O over 104.5 m (124.7 m to 229.3 m), including 1.52% Li2O over 51.9 m (CV22-052)
o 1.42% Li2O over 61.9 m (214.0 m to 275.9 m ), including 2.00% Li2O over 30. 0 m, and 1.01%
Li2O over 52.0 m (311.0 m 363.0 m) (CV22-040)
o 1.42% Li2O over 47.4 m (181.3 m to 228.7 m), including 1.96% Li2O over 21.0 m (CV22-048)
o 1.05% Li2O over 30.7 m (107.3 m to 138.0 m) (CV22-053)
o 1.26% Li2O over 26.6 m (215.6 m to 242.2 m) (CV22-045)
o 1.31% Li2O over 25.4 m (40.6 m to 66.0 m) (CV22-054)
Drill Program Update
• Recent drilling has extended the strike length of the principal lithium pegmatite body (CV5) to at least
2,200 m, spanning laterally from drill hole CV22-074 through CV22-090/093, and remains open at both ends
and to depth
• Drilling to date has outlined several secondary and subparallel trending pegmatite lenses, the largest of which
was first discovered in drill hole CV22-040 (at the west end of the drill area) with an unexpected intersection
of 1.01% Li2O over 52.0 m (311.0 m 363.0 m). It has been traced for approximately 700 m in strike length
and remains open, pinching and swelling laterally and to depth, ranging in width from <5 m to ~ 68 m (core
length)
• As of October 5th, 2022, a total of approximately 23,497 m over eighty (80) holes have now been completed
over the 2022 drill campaign – 4,345 m over 20 holes in the winter/spring program, and 19,152 m over sixty
(60) holes in the summer/fall program (17,554 m over fifty-one (51) holes at the CV5 Pegmatite and 1,599 m
over nine (9) holes at the CV13 pegmatite cluster).
o All nine (9) drill holes completed at the CV13 pegmatite cluster have intersected spodumene
pegmatite of varying intervals – all assays pending
o Thirty-seven (37) drill holes are currently en route to or in process at the analytical lab
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA)
is pleased to announce core assay results for twelve (12) additional drill holes (CV22-040, 041, 045, 047 through 054,
and 056) from its 2022 drill campaign at its wholly owned Corvette Property (the “Property”), located in the James
Bay Region of Quebec. The primary drill area is focused at the CV5 Pegmatite, located approximately 13.5 km south
of the regional and all-weather Trans-Taiga Road and powerline infrastructure with two drills currently coring. A third
drill rig has been active at the CV13 pegmatite cluster for initial drill testing since early September.
CV5 Pegmatite
The mineralization along the CV5 P egmatite corridor (which is exposed over numerous outcrops) is highlighted by
the CV5 Pegmatite as well as several adjacent, sub -parallel trending, secondary pegmatite lenses. Drilling continues
to return wide and well- mineralized intercepts at depth across the CV5 Pegmatite, highlighted herein by drill hole
CV22-052 with 0.97% Li2O over 104.5 m (124.7 m to 229.3 m), including 1.52% Li2O over 51.9 m, and drill hole
CV22-040 with 1.42% Li 2O over 61.9 m (214.0 m to 275.9 m ) and 1.01% Li2O over 52.0 m (311.0 m 363.0 m) .
Assay interval highlights for the drill holes reported herein are presented in Table 1 and drill hole locations in Figure 1.
The Company continues to test the mineralized pegmatite over the drill area at approximately 100 m spacing with the
principal spodumene pegmatite body (CV5) now traced by drilling over a distance of a t least 2,200 m,
remaining open along strike at both ends and to depth along most of its length . The drill holes with core assays
reported herein test approximately 1.8 km of this strike length along the principal pegmatite body (CV5) , at near -
surface and depth, and emphasize the scale of the lithium mineralization throughout the system.
Additionally, drilling to date has outlined several secondary and subparallel trending pegmatite lenses, the largest of
which was first discovered in drill hole CV22- 040 (at the west end of the drill area ) with an unexpected intersection
of 0.87% Li2O over 68.0 m ( 303.6 m to 371.6 m), including 1.01% Li 2O over 52.0 m . This intersection occurred
following that of the principal pegmatite (CV5) downhole, which assayed 1.42% Li 2O over 61.9 m (214.0 m to
275.9 m) and which was the primary target of the drill hole. Since the discovery of this secondary lens , it has been
traced for approximately 700 m in strike length and remains open, pinching and swelling laterally and to depth, ranging
in width from <5 m to ~68 m (core length). The lens is located on the southwestern side of, and in close proximity to,
the principal pegmatite and is interpreted to outcrop at surface in one location; however, is mostly obscured by
overburden. The mineralogy and texture , as geological ly logged, mirror that of the principal CV5 P egmatite, with
centimetre- to- decimetre size spodumene crystals hosted within a quartz-feldspar pegmatite (Figures 2 and 3).
The discovery of this secondary lens , characterized by appreciable width, grade, and strike length , highlights the
potential for additional yet to be discovered pegmatite lens es to be present. To date, several secondary lenses have
been identified in drill hole at both the eastern and western ends , and to the north and south, of the principal CV5
Pegmatite, where drilling has been concentrated. It is possible, however, as drilling progresses at the central portions
of the drill area, that the currently known secondary lens es may connect from east to west, and/or additional lens es
may be discovered – see Figure 1.
The presence of tantalum continues to be prevalent throughout the CV5 Pegmatite body as well as the secondary
pegmatite lenses. Intersections and grades include 104.5 m of 128 ppm Ta2O5 (0.97% Li2O) in drill hole CV22-052,
37.7 m of 257 ppm Ta2O5 (0.22% Li2O) in drill hole CV22-041, and 46.3 m of 157 ppm Ta2O5 (1.41% Li2O) in drill
hole CV22-049. As assays are received for the remaining holes of the program, the distribution of tantalum zones with
respect to lithium zones in the pegmatite(s) will become clearer. Tantalum continues to be a secondary commodity of
strong interest at Corvette and recovery into a marketable concentrate will continue to be explored as flowsheet studies
are advanced.
CV13 Pegmatite Cluster
The CV13 pegmatite cluster is characterized by two (2) contiguous trends, totalling approximately 2.3 km in combined
strike length, which are situated on geological trend between the CV5 Pegmatite and the CV8 -12 pegmatite cluster.
The CV13 pegmatite cluster is also coincident with a regional structural flexure where several spodumene pegmatite
outcrops have been mapped at its apex. As of October 5 th, 2022, the Company has completed nine (9) drill holes
targeting these outcrops at the apex of this flexure as well as the north-eastern limb extend ing towards the CV5
Pegmatite (Figures 4 and 5).
The Company is pleased to report that each of the first nine (9) drill holes completed at the CV13 pegmatite cluster
have intersected intervals of spodumene pegmatite, ranging in width from approximately <2 m to 22.5 m (core length)
(Figure 6). Core assays for these holes remain pending. Geological modelling of the drill intersections suggests a
shallow to moderately dipping pegmatite body(s). However, the Company is awaiting receipt of Property-wide LiDAR
survey data which will allow for a significant refinement of the model and a clearer interpretation of the pegmatite
orientation.
A total of three (3) drill rigs are currently operating at the Corvette Property – two (2) targeting the CV5 P egmatite
corridor and one (1) targeting the CV13 pegmatite cluster. As of October 5th, 2022, a total of approximately 23,497 m
over eighty (80) holes have now been completed over the 2022 drill campaign – 4,345 m over 20 holes in the
winter/spring program, and 19,152 m over sixty (60) holes in the summer/fall program (17,554 m over fifty-one (51)
holes at the CV5 Pegmatite and 1,599 m over nine (9) holes at the CV13 pegmatite cluster ). Core samples for
approximately thirty-seven (37) holes are currently en route to or in process at the analytical lab in Lakefield, ON
(SGS Canada).
Drilling is anticipated to continue through to mid- October, at which time the 2022 drill program will conclude with
final core processing on site and shipment to the lab for analysis. The Company is currently planning an aggressive
2023 drill campaign at Corvette and will announce details in the coming weeks.
Table 1: Mineralized drill intercept summary highlights for drill holes completed as part of the 2022 summer program
Target Land /
Lake Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Total
Depth
(m)
Azimuth
(°)
Dip
(°) Date Reported
Land CV22-035 0.8 3.3 2.5(4) 0.62 155 281.0 158 -45 28-Jul-2022
123.9 223.8 100.0 1.22 117
incl. 185.5 212.5 27.0 2.53 130
or 202.5 212.5 10.0 3.29 177
Land CV22-036 176.5 183.8 7.3 2.00 167 334.8 158 -45 28-Jul-2022
193.1 211.3 18.2 0.17 105
232.7 238.1 5.4 1.35 63
249.3 252.3 3.0 0.27 70
260.6 287.6 27.0 1.38 99
320.8 324.0 3.1 0.06 145
Land CV22-037 35.6 46.1 10.6 0.63 177 311.0 158 -45 31-Aug-2022
incl. 40.0 44.2 4.2 1.21 232
145.2 197.2 52.0(5) 0.41 129
incl. 149.8 155.0 5.2 1.49 169
Land CV22-038 214.0 273.3 59.3 1.42 106 316.8 158 -45 31-Aug-2022
234.8 242.0 7.2 2.06 141
Land CV22-039 30.4 39.2 8.8 0.97 134 256.9 158 -45 31-Aug-2022
138.0 178.5 40.5 0.56 158
Incl. 141.0 151.8 10.8 1.55 244
186.8 191.3 4.4 0.06 258
Land CV22-040 214.0 275.9 61.9 1.42 99 403.8 158 -45 12-Oct-2022
incl. 215.0 245.0 30.0 2.00 117
303.6 371.6 68.0 0.87 110
incl. 311.0 363.0 52.0 1.01 113
377.3 383.9 6.6 0.03 143
Land CV22-041 52.9 63.2 10.3 1.42 123 295.9 158 -45 12-Oct-2022
163.9 201.6 37.7 0.22 257
Land CV22-042 54.8 59.8 5.1 0.67 340 393.0 158 -65 31-Aug-2022
131.8 291.5 159.7 1.65 193
incl. 238.5 275.5 37.0 3.04 209
or 249.5 258.5 9.0 4.12 162
Land CV22-043 201.5 206.3 4.8 0.40 216 513.6 158 -59 31-Aug-2022
258.6 262.2 3.7 1.57 62
319.4 342.2 22.7 1.68 91
incl. 327.5 334.5 7.0 3.13 75
422.9 425.1 2.2 0.01 53
Land CV22-044 136.0 142.7 6.7 1.89 91 414.5 158 -45 31-Aug-2022
244.4 330.7 86.2 2.13 163
incl. 308.5 326.5 18.0 3.07 265
Land CV22-045 215.6 242.2 26.6 1.26 150 377.4 158 -45 12-Oct-2022
266.7 268.8 2.1 0.04 215
311.9 336.3 24.4 0.24 117
Land CV22-046 463.9 158 -50 -
Land CV22-047 554.1 158 -59 12-Oct-2022
Land CV22-048 181.3 228.7 47.4 1.42 88 449.2 158.0 -45 12-Oct-2022
incl. 188.0 209.0 21.0 1.96 105
312.9 320.5 7.6 1.61 135
390.1 425.8 35.7 0.67 88
incl. 414.0 425.8 11.8 1.10 83
428.8 434.4 5.6 0.77 83
Land CV22-049 141.3 237.3 96.0 0.92 111 304.8 158 -45 12-Oct-2022
incl. 178.2 224.5 46.3 1.41 157
or 212.0 224.5 12.5 2.62 303
Land CV22-050 178.2 207.6 29.3 1.79 190 339.0 158 -60 12-Oct-2022
incl. 179.0 201.5 22.5 2.29 159
Land CV22-051 520.8 158 -58 12-Oct-2022
Land CV22-052 124.7 229.3 104.5 0.97 128 284.8 158 -45 12-Oct-2022
incl. 158.7 210.7 51.9 1.52 104
or 181.7 202.5 20.8 2.45 146
Lake CV22-053 88.4 189.8 101.4 0.57 121 218.5 158 -45 12-Oct-2022
incl. 107.3 138.0 30.7 1.05 136
Land CV22-054 32.0 35.8 3.8 0.79 311 126.4 158 -58 12-Oct-2022
40.6 66.0 25.4 1.31 167
73.8 81.0 7.2 1.12 243
Land CV22-055 320.0 158 -60 -
Lake CV22-056 96.8 186.3 89.5 0.50 160 241.9 158 -45 12-Oct-2022
incl. 102.8 112.3 9.6 1.14 198
incl. 129.1 138.0 8.9 1.61 233
(1) All drill holes are NQ core size; (2) All intervals are core length. True width of intervals is not confirmed. Geological modelling is ongoing.
(3) Azimuths and dips presented are those 'planned' and may vary off collar and downhole; (4) Collared in lithium pegmatite
(5) Includes minor intervals of non-pegmatite units
CV5
Corridor
Core assays pending
No appreciable mineralization
No appreciable mineralization
Core assays pending
Figure 1: Drill hole collar locations at the CV5 Pegmatite corridor for holes completed through October 5th, 2022, as
part of the 2021-2022 drill campaigns
Figure 2: Well mineralized drill core from the principal pegmatite body (CV5) – drill hole CV22-040 at 221.4 m to
238.7 m depth
Figure 3: Well mineralized drill core from the secondary pegmatite situated adjacent to the southwest of the
principal pegmatite body (CV5) – drill hole CV22-040 at 343.4 m to 360.7 m depth
Figure 4: Drill hole map at the CV13 pegmatite cluster
Figure 5: Drill hole CV22-077 targeting large outcrop at CV13 pegmatite cluster