Patriot Drills 113.4 m of 1.61% Li2O, including 2.0 m of 6.41% Li2O, 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 / ASX: PMT / OTC: PMETF / FSE: R9GA
Patriot Drills 113.4 m of 1.61% Li2O, including 2.0 m of
6.41% Li2O, at the CV5 Pegmatite, Corvette Property, Quebec
December 14, 2022 – Vancouver, BC, Canada
Highlights
Significant Drill Intercepts
• Twelve (12) drill holes (NQ core) are reported herein from the CV5 Pegmatite and targeted mineralization
at shallow to mid-level depths over a significant strike length. Results include some of the highest individual
lithium sample grades returned to date in drill hole.
o 113.4 m at 1.61% Li2O (162.1 m to 275.5 m), including 38.0 m at 2.17% Li2O (CV22-066)
Interval contains twenty (20) individual samples over 3.00% Li 2O including two (2)
adjacent samples grading >6% Li2O, averaging 2.0 m at 6.41% Li2O
o 60.0 m at 1.52% Li2O (25.3 m to 85.3 m), including 18.0 m at 2.16% Li2O (CV22-062)
o 119.1 m at 0.89% Li2O (57.3 m to 176.4 m), including 19.0 m at 2.05% Li2O, and 15.0 m at
1.72% Li2O (304.9 m to 319.9 m) (CV22-059)
o 42.2 m at 1.52% Li2O (77.4 m to 119.5 m), 17.8 m at 2.53% Li2O (160.5 m to 178.3 m), and
29.1 m at 1.21% Li2O (183.4 m to 212.5 m) , and 10.9 m at 1.18% Li2O (220.2 m to 231.1 m)
(CV22-064)
o 24.3 m at 1.14% Li2O (29.6 m to 53.8 m) (CV22-060)
o 39.9 m at 1.30% Li2O (69.9 m to 109.8 m), including 18.0 m at 2.28% Li2O (CV22-063)
• Continued strong tantalum grades intersected including 18.0 m at 316 ppm Ta2O5 (and 2.16% Li2O) (CV22-
062) and 42.2 m at 300 ppm Ta2O5 (and 1.52% Li2O) (CV22-064)
• Drill h oles CV22 -063 and CV2 2-066 continue to extend mineralization to the east -northeast at the CV5
Pegmatite, flanked by several secondary lenses, traced over a strike length of at least 2,200 m . The
mineralization remains open along strike at both ends and to depth along most of the pegmatite length.
2023 Exploration and Development Program
• Drilling at the Property to re-commence in January 2023 with up to five (5) drill core rigs in February
• Permits have been received and construction underway for a winter road extending south from the Trans -
Taiga all-season road to the primary drill area at the CV5 Pegmatite, expediting the winter drill program and
reducing helicopter usage.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (ASX: PMT) (OTCQB: PMETF)
(FSE: R9GA) is pleased to announce core assay results for twelve (12) additional drill holes (CV22-046, 055, and
057 through 066) 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.
Blair Way, Company President, CEO and Director, comments:
“The Corvette Property continues to deliver with these latest assay results, which include some of our highest grades
to date. In addition, the strike length of the CV5 Pegmatite system remains open in all directions with wide widths and
strong grades encountered along its currently defined 2.2 km length. I am happy to be back on track with regular
news releases of our assay results from the summer- fall drill program. With 38 holes yet to be received from the lab,
and re-commencement of drilling in January, we will have continuous news flow on the Property for some time”
The twelve (12) drill holes (NQ core size – 47.6 mm inside diametre) reported herein targeted mineralization at shallow
to mid-level depths over a significant strike length of the CV5 Pegmatite (Figure 1). Drilling continues to return wide
and well -mineralized intercepts at these depths , highlighted herein by drill hole CV22- 066 with 113.4 m at
1.61% Li2O (162.1 m to 275.5 m), including 38.0 m at 2.17% Li2O and 28.6 m at 2.31% Li2O. Additionally, drill
hole CV22-066 contains twenty (20) individual samples over 3.00% Li2O including two (2) adjacent samples grading
>6% Li 2O, averaging 2.0 m at 6.41% Li 2O, which contains a single spodumene crystal of approximately 1.8 m
(Figures 2, and 3). This is the largest spodumene crystal discovered to date in drill core at the Property and was first
reported in news release dated September 19, 2022.
The high-grade pegmatite in drill hole CV22-066 is interpreted to continue to surface as evidenced by CV22-063 with
39.9 m at 1.30% Li2O (69.9 m to 109.8 m), including 18.0 m at 2.28% Li2O, returned at shallow depths (Figure 1).
The pegmatite remains open at depth at this location with CV 22-069 returning 45.3 m of spodumene pegmatite at
depth below CV22-066 – assays remaining to be reported.
Additionally, drill hole CV22 -062 returned 60.0 m at 1.52% Li 2O (25.3 m to 85.3 m), including 18.0 m at
2.16% Li2O, at shallow depths proximal to the CV5 Pegmatite outcrop (Figure 4). These high grades continue at
depth below CV22- 062 with drillhole CV22 -064 returning 42.2 m at 1.52% Li2O (77.4 m to 119.5 m), 17.8 m at
2.53% Li2O (160.5 m to 178.3 m), 29.1 m at 1.21% Li2O (183.4 m to 212.5 m), and 10.9 m at 1.18% Li2O (220.2 m
to 231.1 m) . Drill hole CV22 -059 continued to demonstrate strong grades and wide intersections below the CV5
Pegmatite outcrop at moderate depths with 119.1 m at 0.89% Li 2O (57.3 m to 176.4 m), including 19.0 m at
2.05% Li2O and 15.0 m at 1.72% Li2O (304.9 m 319.9) (Figure 1).
Strong grades of tantalum continue to be returned from drilling at the CV5 Pegmatite with individual one (1) metre
samples grading >1,000 ppm Ta 2O5 returned from six (6) of the twelve (12) drill holes reported herein – CV22-055,
062, 063, 064, 065, and 066 – with a sample high of 3,293 ppm Ta2O5 returned from CV22-055. High-grade lithium-
tantalum intervals include 18.0 m at 2.16% Li2O and 316 ppm Ta 2O5 (CV22-062) and 42.2 m at 1.52% Li2O and
300 ppm Ta2O5 (CV22-064). The prevalence of tantalum is widespread at the CV5 Pegmatite with its zonation to be
more clearly defined upon receipt of the remaining 2022 drill core assays. 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.
The 2022 drill campaign at Corvette has significantly expanded lithium mineralization at the CV5 Pegmatite. The
drilling to date has largely been completed at approximately 100 m spacing (down to ~50 m in some places) with the
principal spodumene pegmatite body (CV5) , flanked by several secondary lenses, currently traced by drilling
over a distance of at least 2,200 m, remaining open along strike at both ends and to depth along most of its
length.
To date, the Company has completed ninety-five (95) NQ core size drill holes, totalling 27,470 m, at targets along the
CV Lithium Trend – eighty (80) drill holes totalling 24,709 m at the CV5 Pegmatite and proximal lenses , fourteen
(14) drill holes totalling 2,647 m at the CV13 Pegmatite cluster, and one (1) drill hole totalling 114 m at the CV12
Pegmatite cluster. For the drill holes reported herein, c ore assays for pegmatite intervals greater than two ( 2) m are
presented in Table 1 and drill hole locations in Figure 1. Drill hole coordinates and other attributes are available in
Table 1 and the Company’s website, which also lists assay results from prior drill holes. Core assay results for thirty-
eight (38) drill holes remain to be reported – twenty-four (24) at the CV5 Pegmatite cluster and fourteen (14) at the
CV13 pegmatite cluster.
2023 Exploration and Development Program
The Company is currently planning to re-commence drilling at the CV5 Pegmatite in January, with three (3) drill rigs
currently on site, and will increase to five (5) drill rigs in February. The primary objectives of the drill program are to
further delineate the extent of the CV5 Pegmatite, as well as infill drill to improve the geological model to achieve
indicated mineral resource confidence to support a subsequent Prefeasibility Study. Permits have been received and
construction underway for a n ~19.3 km winter road extending south from the Trans -Taiga all- season road to the
primary drill area at the CV5 Pegmatite , which will reduce transportation costs and improve access to the Property
over the winter portion of the 2023 exploration campaign.
BBA Inc. (“BBA”), a multi -disciplinary engineering and project development group, has been retained to complete
an inaugural mineral resource estimate at the CV5 Pegmatite – anticipated to be delivered in the first half of 2023 –
as well as carry -out development studies at the Property as it advances towards Prefeasibility. These studies include
site environmental, hydrogeological model, pit design, infrastructure layout, and tailings management. BBA has
significant experience in lithium pegmatite development studies in addition to their work at active mine-sites globally.
The Company will provide further details on the 2023 exploration and development programs in the new year, which
is anticipated to include significant resource delineation drilling, multi-disciplinary desktop and field studies in support
of advancing through Prefeasibility, and various lithium pegmatite surface exploration programs. Although at least
six (6) distinct lithium pegmatite clusters have been disc overed on the Property to date, there remains more than 20
km of trend yet to be evaluated for lithium pegmatite. Further, only three (3) of these lithium clusters have been drill
tested – CV5 (80 holes), CV13 (14 holes), and CV12 (1 hole).
Table 1: Mineralized drill intercept summary for drill holes reported herein as part of the 2022 summer-fall program
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Total
Depth
(m)
Azimuth
(°)
Dip
(°) Easting Northing Elevation
(m)
CV22-046 213.9 218.7 4.8 0.58 121 463.9 158 -50 570344 5930959 383.3
408.7 415.1 6.4 0.23 117
439.8 449.4 9.6 0.05 95
CV22-047 through 054 were reported on October 12, 2022
CV22-055 96.8 186.3 89.5 0.50 160 320.0 158 -60 571042 5931112 375.5
incl. 102.8 112.3 9.6 1.14 198
incl. 129.1 138.0 8.9 1.61 233
CV22-056 was reported on October 12, 2022
CV22-057 23.0 30.6 7.5 0.70 164 443.1 158 -45 570014 5930567 379.0
41.1 56.4 15.3 1.09 92
67.9 70.6 2.7 0.70 209
226.0 232.1 6.2 0.01 85
CV22-058 104.9 119.9 15.0 0.25 159 299.0 158 -45 571170 5931057 376.4
124.4 130.2 5.8 0.95 101
CV22-059 57.3 176.4 119.1 0.89 97 352.9 158 -45 570300 5930796 373.2
incl. 66.0 85.0 19.0 2.05 120
304.9 319.9 15.0 1.72 148
CV22-060 29.6 53.8 24.3 1.14 164 147.1 158 -45 570149 5930635 383.4
94.9 97.5 2.6 0.70 126
116.7 119.2 2.5 0.32 171
CV22-061 86.8 97.4 10.6 0.63 114 340.9 158 -45 571279 5931068 378.9
CV22-062 25.3 85.3 60.0 1.52 195 220.8 158 -45 570233 5930694 375.8
incl. 26.0 44.0 18.0 2.16 316
146.5 152.3 5.8 0.65 149
CV22-063 69.9 109.8 39.9 1.30 141 325.4 158 -45 571581 5931234 376.5
incl. 77.0 95.0 18.0 2.28 121
174.3 189.6 15.3 0.25 88
CV22-064 77.4 119.5 42.2 1.52 300 340.7 158 -53 570199 5930782 373.2
incl. 80.3 102.5 22.2 2.27 209
141.5 143.6 2.1 0.16 62
160.5 178.3 17.8 2.53 167
183.4 212.5 29.1 1.21 125
215.2 219.4 4.3 0.40 237
220.2 231.1 10.9 1.18 177
240.5 246.7 6.2 0.05 130
248.8 252.9 4.1 0.07 11
313.8 321.8 8.0 0.54 77
CV22-065 7.2 42.0 34.8 0.68 197 242.0 158 -45 570332 5930722 381.7
incl. 16.0 30.0 14.0 1.21 161
54.7 74.6 19.9 1.04 117
168.6 171.5 2.9 0.30 151
CV22-066 54.1 62.9 8.7 1.24 185 437.0 158 -48 571560 5931300 377.0
162.1 275.5 113.4 1.61 139
incl. 188.0 226.0 38.0 2.17 164
or 224.0 226.0 2.0 6.41 26
incl. 244.0 272.6 28.6 2.31 164
(1) All drill holes are NQ core size; (2) All intervals are core length and presented for all pegmatite intersections ≥ 2 m. 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)
Coordinate System NAD83 Zone18
Figure 1: Drill hole collar locations at the CV5 Pegmatite for holes completed to date
Figure 2: Well mineralized drill core intersection (~2.5% Li2O average) in CV22-066 with a 2.0 m at 6.41% Li2O
interval (224.0 to 226.0 m) containing an ~1.8 m long spodumene crystal (highlighted in red box)
Figure 3: Segment of 1.8 m spodumene crystal at ~225 m depth in CV22- 066
Figure 4: Interval of 18.0 m at 2.16% Li2O (26.0 to 44.0 m) within a wider zone of 60.0 m at 1.52% Li2O (25.3 m to
85.3 m) in drill hole CV22-062