Patriot Drills 122.6 m at 1.89% Li2O, including 8.1 m at 5.01% Li2O, and Extends High-Grade Nova Zone, at the CV5 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 Drills 122.6 m at 1.89% Li2O, including 8.1 m at
5.01% Li2O, and Extends High-Grade Nova Zone, at the CV5
Pegmatite, Corvette Property, Quebec, Canada
May 16, 2023 – Vancouver, BC, Canada May 17, 2023 – Sydney, Australia
Highlights
• Additional high-grade Zone discovered, marking interpreted western extension of the
Nova Zone – drill holes CV23-130, 132, 134, and 138:
o 122.6 m at 1.89% Li 2O (126.0 m to 248.5 m), including 8.1 m at 5. 01% Li2O
(CV23-138).
o 130.3 m at 1.56% Li 2O (164.0 m to 294.3 m), including 52.7 m at 2.45% Li 2O
(CV23-132).
o 101.3 m at 1.44% Li 2O (123.3 m to 224.6 m), including 28.1 m at 3.00% Li2O
(CV23-134).
o 101.2 m at 1.08% Li 2O (145.5 m to 246.7 m), including 10.1 m at 2.42% Li 2O
and 4.0 m at 4.13% Li2O (CV23-130).
• Other significant intercepts
o 101.2 m at 1.59% Li2O (240.3 m to 341.5 m), including 28.5 m at 4.14% Li2O or
8.8 m of 5.20% Li2O (CV23-141).
o 56.3 m at 2.34% Li 2O (251.4 m to 307.6 m), including 11.1 m at 4.06 % Li2O
(CV23-114).
o 57.7 m at 1.46% Li 2O (182.0 m to 239.7 m), including 13.3 m at 2. 65% Li2O
(CV23-168A).
o 43.5 m at 1.80% Li2O (239.5 m to 283.0 m), and 24.0 m at 2.04% Li2O (372.9 m
to 396.9 m) (CV23-127).
• A continuous 93 m interval of dominantly spodumene -bearing pegmatite in most
westerly drill hole completed to date at the CV5 Pegmatite – CV23-184 (assays pending).
• A continuous 139 m interval of dominantly spodumene-bearing pegmatite in final drill
hole of the 2023 winter program at the CV5 Pegmatite – CV23-190 (assays pending).
• Core sample assay results for 27 drill holes completed during the 2023 winter drill program
remain to be reported.
Blair Way, Company President and CEO, comments: “The drill bit continues to deliver for us as
confirmed by the strong grades and wide widths of mineralized pegmatite reported herein. With
our last hole providing the longest pegmatite intersection of the winter drill program (139 m), we
are certainly primed for continued success as we approach the beginning of our summer-fall drill
program, scheduled to commence later this month. With core sample assay s for numerous drill
holes remaining to be received, the Company ’s geological team is steadfast focused on final
validation of the CV5 Pegmatite’s geological model, inclusive of all drill holes completed to date,
ahead of an initial mineral resource estimate.”
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 next series of drill
holes completed as part of the 2023 winter drill program, which recently concluded, at its wholly
owned Corvette Property (the “Property”), located in the Eeyou Istchee James Bay region of
Quebec. The winter phase of the 2023 drill campaign was focused on the CV5 Pegmatite, located
approximately 13.5 km south of the regional and all -weather Trans-Taiga Road and powerline
infrastructure.
Core assays, for the drill holes reported herein (Figure 1), cover the CV5 Pegmatite’s recently
defined eastward extension (see news releases dated February 5 and March 23, 2023) (Figure 2),
the east-central area proximal to the CV1 outcrop (Figure 2), and the recently defined westward
extension (see news release dated May 1, 2023) (Figure 3).
The drill holes targeting the east-central area of the CV5 Pegmatite were completed during the
winter program to take advantage of more practical and cost -effective ground access. These drill
holes were highly successful with mineralized pegmatite intervals of 122.6 m at 1.89% Li 2O,
including 8.1 m at 5.01% Li2O (CV23-138), 130.3 m at 1.56% Li2O, including 52.7 m at 2.45%
Li2O (CV23-132), 101.3 m at 1.44% Li 2O, including 28.1 m at 3.00% Li 2O (CV23-134), and
10.1 m at 2.42% Li2O and 4.0 m at 4.13% Li2O (CV23-130). These four (4) drill holes define a
new high-grade zone, which is interpreted to represent a continuous 200+ m extension westward
of the high- grade Nova Zone (see news release dated March 29, 2023 ). Drill holes CV23-181
(108 m of continuous pegmatite) and CV23-148 ( 95 m of continuous pegmatite) tested the
connection of the zones (i.e., the area between), with assays pending for both. However, based on
logged modal spodumene content, the high-grade Nova Zone is now interpreted to extend
continuously from at least drill hole CV23 -132 to CV23 -108, a distance of approximately
1,100 m.
Assay results for two (2) drill holes completed over the recently discovered westward extension of
the CV5 Pegmatite (see news released dated May 1, 2023 ) confirm strong lithium grades over
moderate to wide intervals in this area – 38.4 m at 1.19% Li2O, 7.8 m at 3.01% Li2O, and 8.8 m
at 1.29% Li2O (CV23-176), and 33.4 m at 0.87% Li2O and 12.8 m at 1.25% Li2O (CV23-161).
The CV5 Pegmatite remains open along strike westwardly in this area with the westernmost drill
hole completed to date (CV23- 184) returning a continuous 93 m interval of dominantly
spodumene-bearing pegmatite. Additionally, the final hole of the winter program (CV23-190),
also completed in this area , returned a continuous 139 m interval of dominantly spodumene -
bearing pegmatite – the widest pegmatite intercept of the 2023 winter program at the CV5
Pegmatite. Core sample analysis for both CV23- 184 and 190 have not yet been reported. These
drill holes were also completed in opposite directions across the CV5 Pegmatite body, further
attesting to the sizable blow-out (i.e., sizable width) of the pegmatite in this area (Figures 1 and 3).
The 2023 winter drill program recently concluded with a total of 89 drill holes and 32,367 m
completed – drill holes CV23 -105 through 190. Through the 2023 winter program, t he CV5
Pegmatite has now been traced continuously by drilling (at approximately 50 to 150 m spacing)
as a principally continuous spodumene -mineralized body over a lateral distance of at least
3.7 km (CV23-184 to CV23-125) and remains open along strike at both ends and to depth along
most of its length.
Due to the continuity of the pegmatite confirmed by the 2023 winter drill program, all holes
completed to date at the CV5 Pegmatite (through CV23-190) will be included in the forthcoming
mineral resource estimate. The Company is targeting a July 2023 announcement and is dependent
on timely receipt of all outstanding core sample assays from the lab oratory, as well as final
database and model validation.
The Company’s summer-fall drill exploration program is scheduled to re-commence in late May
at the CV5 and CV13 pegmatites. The summer-fall surface program is scheduled to begin in early
June and continue through late September.
Core sample assay results for drill holes reported herein are presented in Table 1. Core assay results
remain to be reported for 27 drill holes completed during the winter program , with all drill core
samples having arrived at the analytical lab (SGS). Pegmatite intervals >2 m (core length) for all
drill holes completed during the winter program are presented in Table 2, and drill hole attributes
presented in Table 3. Tables 1, 2, and 3 will be posted to the Company’s website shortly. Select
core photos are presented in Figures 4 and 5.
Figure 1: Drill holes completed at the CV5 Pegmatite through the 2023 winter drill program
Figure 2: Drill holes completed at the CV5 Pegmatite through the 2023 winter drill program –
east-central, and eastern areas
Figure 3: Drill holes completed at the CV5 Pegmatite through the 2023 winter drill program –
western area
Table 1: Mineralized intercept summary for drill holes reported herein from the 2023 winter program
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments
CV23-113 195.5 198.7 3.2 0.02 5 9 CV23-128 101.5 131.4 29.9 0.51 126
235.8 252.6 16.9 0.10 393 Incl. 125.0 130.0 5.0 1.11 184
255.3 269.2 13.9 1.01 197 CV23-129 102.0 199.2 97.2 0.29 100
CV23-114 144.9 157.6 12.7 0.85 126 Incl. 161.1 173.6 12.5 1.13 146
251.4 307.6 56.3 2.34 162 CV23-130 145.5 246.7 101.2 1.08 152
Incl. 269.2 301.7 32.6 3.14 195 Incl. 184.7 194.8 10.1 2.42 115
or 288.7 299.8 11.1 4.06 287 Incl. 229.3 233.3 4.0 4.13 304
324.9 330.9 6.0 0.12 75 CV23-131 78.4 81.7 3.3 0.76 112
CV23-115 198.0 214.8 16.9 1.34 139 Previously reported 157.4 165.8 8.4 1.48 135
230.6 253.1 22.6 2.13 204 179.3 194.2 14.9 0.79 125
Incl. 231.5 238.0 6.5 3.44 77 CV23-132 145.7 154.9 9.2 0.15 247
Incl. 249.7 251.0 1.3 6.53 79 164.0 294.3 130.3 1.56 185
288.7 293.9 5.3 0.69 623 Incl. 175.6 228.4 52.7 2.45 168
301.3 325.1 23.8 0.90 328 Incl. 247.8 252.8 5.0 3.82 451
CV23-116 306.8 378.8 71.9 0.78 311 Previously reported CV23-133 542.7 546.6 3.9 0.90 65
Incl. 307.8 331.6 23.8 1.61 321 550.4 554.4 3.9 0.42 153
CV23-117 188.9 200.3 11.4 1.79 222 Previously reported CV23-134 6.1 8.8 2.7 0.01 67
281.4 283.4 2.1 0.03 132 123.3 224.6 101.3 1.44 104
CV23-118 241.1 272.0 30.8 0.45 981 Incl. 192.3 220.4 28.1 3.00 148
266.1 272.0 5.9 1.55 295 or 213.2 218.3 5.2 4.69 320
CV23-119 136.8 139.7 2.9 1.39 148 Previously reported CV23-135 46.0 55.0 9.0 0.15 66
225.6 231.8 6.1 1.09 71 CV23-136 325.6 351.2 25.6 0.82 90
CV23-120 239.9 242.2 2.3 0.08 364 Incl. 331.0 335.5 4.5 3.27 108
245.2 320.4 75.2 0.38 305 CV23-137 46.2 76.1 29.9(3)
0.39 183
CV23-121 104.3 112.4 8.2 0.56 1 15 Incl. 47.0 50.9 3.9 1.67 287
175.7 179.0 3.3 0.02 171 CV23-138 4.0 7.1 3.2 0.01 67
191.5 225.3 33.9 1.98 290 126.0 248.5 122.6 (3) 1.89 175
238.0 240.3 2.3 1.03 164 In cl. 157.1 239.1 82.0 2.58 207
245.2 277.6 32.4 2.42 107 or 194.7 202.8 8.1 5.01 274
CV23-122 199.8 203.2 3.4 0.03 142 Previously reported or 228.8 239.1 10.2 4.08 344
251.2 260.9 9.7 2.00 67 265.3 273.0 7.7 0.45 137
CV23-123 104.0 107.2 3.2 1.34 159 Previously reported CV23-139 390.1 429.6 39.5 0.42 182
190.9 201.3 10.4 1.09 110 Incl. 401.4 405.7 4.3 1.07 269
CV23-124 177.5 184.0 6.5 1.20 92 463.8 466.4 2.5 1.07 79
255.8 302.2 46.4 1.19 179 474.3 476.3 2.0 0.08 50
Incl. 259.8 276.0 16.2 2.04 138 CV23-140 334.8 339.6 4.8 0.17 41
304.6 309.5 4.9 0.39 214 344.6 378.1 33.5 0.28 312
467.1 469.7 2.5 0.05 60 389.1 400.2 11.1 0.40 171
523.8 528.5 4.7 0.79 59 402.6 406.6 4.0 0.03 115
577.1 588.3 11.2 0.67 101 CV23-141 125.6 133.0 7.4 1.33 167
CV23-125 450.6 480.4 29.8 0.14 181 Previously reported 240.3 341.5 101.2 1.59 246
CV23-126 No pegmatite intersected, hole lost Previously reported Incl. 249.3 277.7 28.5 4.14 246
CV23-127 125.7 128.5 2.8 0.48 177 or 260.4 269.2 8.8 5.20 303
239.5 283.0 43.5 1.80 238 362.0 378.2 16.2 1.37 140
Incl. 255.4 264.7 9.3 3.61 190
372.9 396.9 24.0(3) 2.04 97
Incl. 383.1 388.6 5.5 3.16 1 30
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments
CV23-142 169.7 193.1 23.4 0.67 152 CV23-169 169.7 173.1 3.4 0.01 135 Hydrogeology hole
Incl. 170.7 178.3 7.6 0.99 122 CV23-170 Assays pending
289.6 294.4 4.8 1.50 99 CV23-171 Assays pending
CV23-143 392.7 397.7 5.0 0.07 108 CV23-172 Assays pending
CV23-144 No pegmatite intersected Hydrogeology hole CV23-173 Assays pending
CV23-145 No pegmatite intersected Hydrogeology hole CV23-174 Assays pending Hydrogeology hole
CV23-146 297.5 301.0 3.5 0.37 185 CV23-175 Assays pending
306.0 312.1 6.1 0.43 108 CV23-176 90.2 128.6 38.4 1.19 148
CV23-147 No pegmatite intersected Hydrogeology hole Incl. 115.9 124.2 8.3 2.07 141
CV23-148 Assays pending 164.0 171.7 7.8 3.01 143
CV23-149 n/a Infrastructure hole 178.1 186.9 8.8 1.29 175
CV23-150 35.8 38.7 2.9 0.18 180 Hydrogeology hole 197.6 210.0 12.4 0.71 193
CV23-151 Assays pending 341.9 344.1 2.1 0.00 0
CV23-152 No pegmatite intersected CV23-177 Assays pending
CV23-153 No pegmatite intersected Hydrogeology hole CV23-178 Assays pending
CV23-154 Assays pending CV23-179 Assays pending
CV23-155 No pegmatite intersected Hydrogeology hole CV23-180 Assays pending
CV23-156 Assays pending CV23-181 Assays pending
CV23-157 No pegmatite intersected Hydrogeology hole CV23-182 Assays pending
CV23-158 n/a Infrastructure hole CV23-183 Assays pending
CV23-159 No pegmatite intersected Hydrogeology hole CV23-184 Assays pending
CV23-160 No pegmatite intersected Hole lost CV23-185 Assays pending
CV23-160A Assays pending CV23-186 No pegmatite intersected Hydrogeology hole
CV23-161 37.3 42.4 5.1 1.67 956 CV23-187 Assays pending
44.3 46.8 2.6 0.07 887 CV23-188 Assays pending
86.5 96.1 9.6 1.39 158 CV23-189 Assays pending
115.8 149.2 33.4 0.87 97 CV23-190 Assays pending
153.6 166.4 12.8 1.25 112
207.4 215.6 8.2 0.13 93
247.3 250.5 3.3 0.44 111
CV23-162 Assays pending
CV23-163 n/a Infrastructure hole
CV23-164 No pegmatite intersected Hydrogeology hole
CV23-165 Assays pending
CV23-166 Not sampled as hole re-collared as CV23-166A Hydrogeology hole
CV23-166A Assays pending , re-collar of CV23-166 Hydrogeology hole
CV23-167 No pegmatite intersected Hydrogeology hole
CV23-168 No pegmatite intersected Hole lost
CV23-168A 182.0 239.7 57.7 1.46 184
Incl. 200.7 214.0 13.3 2.65 220
(1) All intervals are core length and presented for all pegmatite intervals >2
m. True width of intervals is not confirmed. Geological modelling is ongoing;
(2) Collared in pegmatite; (3) Includes minor intervals of non-pegmatite units
(typically <3 m); (4) 'Hydrogeology holes' and 'infrastructure holes' completed
to support a hydrogeological model and proposed infrastructure layout for
Project, respectively.