Patriot Drills 127.7 m at 1.78% Li2O and 95.3 m at 1.62% Li2O 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 127.7 m at 1.78% Li2O and 95.3 m at 1.62% Li2O at
the CV5 Pegmatite, Corvette Property, Quebec, Canada
June 14, 2023 – Vancouver, BC, Canada June 15, 2023 – Sydney, Australia
Highlights
• Additional high-grade intersection at the Nova Zone affirming interpreted 1.1 km
strike length.
o 95.3 m at 1.62% Li2O (137.3 m to 232.6 m), including 47.6 m at 2.09% Li2O, or
4.1 m at 4.44% Li2O (CV23-148).
• Other significant intercepts
o 127.7 m at 1.78% Li2O (61.9 m to 189.5 m), including 50.1 m at 2.43 % Li2O
(CV23-160A).
o 44.2 m at 0.99% Li 2O (221.5 m to 265.8 m), including 15.3 m at 2.58 % Li2O
(CV23-174).
• Core sample assay results for 12 drill holes completed during the 2023 winter drill program
remain to be reported.
• The Company remains on target for a July 2023 announcement for the initial mineral
resource estimate at CV5, which will include all drill holes completed through April 17,
2023 (i.e., the recently completed winter drill program).
Blair Way, Company President and CEO, comments: “ The final assay results for the recently
completed winter drill hole program continue to come in, with 12 holes now remaining to be
reported. Results continue to impress as we position for the release of our initial mineral resource
estimate at CV5.”
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 high-grade Nova Zone (see news release dated May 16, 2023 ) (Figure 2), and the recently
defined westward extension (see news release dated May 1, 2023) (Figure 3).
Drill hole CV23 -148 targeted the Nova Zone and returned a wide and high- grade intercept of
95.3 m at 1.62% Li2O, including 47.6 m at 2.09% Li2O or 4.1 m at 4.44% Li2O. The high-grade
result affirms the interpretation that the Nova Zone extends continuously over a strike length of at
least 1.1 km – from drill holes CV23-132 to 108 (Figures 1 and 2).
Strong grades and widths were returned in drilling over the recently defined westward extension
(Figure 3) , highlighted by drill hole CV23 -160A, which returned 127.7 m at 1.78% Li 2O,
including 50.1 m at 2.43% Li2O. Other drill holes in this area, with assays reported herein, include
CV23-172 ( 13.2 m at 1.14% Li 2O, and 15.7 m at 0.94% Li 2O), CV23-182 ( 14.8 m at
1.06% Li2O), and CV23-187 (14.1 m at 1.19% Li2O). Additionally, drill hole CV23-174, located
proximal to the westward extension, returned a strong intercept of 44.2 m at 0.99% Li 2O,
including 15.3 m at 2.58% Li2O.
Drill core sample assays for two (2) holes remain to be reported over the westward extension area
of the CV5 Pegmatite (Figure 1). This includes a continuous 93 m interval of dominantly
spodumene-bearing pegmatite in the most westerly drill hole completed through the end of the
winter program (CV23-184), and a continuous 139 m interval of dominantly spodumene -bearing
pegmatite in the final drill hole of the 2023 winter program (CV23-190).
Assay results for holes reported herein over the far eastern portion of CV5 (Figure 2) , as is
currently defined, returned variable grades and widths of lithium mineralized pegmatite. Results
include 51.2 m at 0.59% Li 2O, including 10.1 m at 0.87% Li 2O and 9.3 m at 0.91% Li 2O
(CV23-154), and 27.5 m at 0.40% Li 2O, including 3.2 m at 2.22% Li 2O (CV23-156). Internal
fractionation commonly leads to lower-grade pegmatite being immediately adjacent to higher -
grade pegmatite. Considering the wide and continuous widths of pegmatite in these holes (CV23-
154 and 156), at 49.9 m and 27.5 m, respectively, the grades returned are very encouraging with
respect to the potential for additional and proximal higher-grade zones to be present. The pegmatite
in this area remains open up-dip, down-dip, and along strike eastwardly.
Through the 2023 winter drill program , the CV5 Pegmatite has 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 and remains open along strike at
both ends and to depth along most of its length.
The Company remains on target for a July 2023 announcement for the initial mineral resource
estimate at CV5, which will include all drill holes completed through April 17, 2023 (i.e., the
recently completed winter drill program). The timing of the announcement remains dependent on
timely receipt of the final outstanding core sample assays from the lab oratory, as well as final
database and model validation.
Core sample assay results for drill holes reported herein are presented in Table 1. Core assay results
remain to be reported for twelve (12) drill holes completed during the winter program , with all
drill core samples having arrived at the analytical lab (SGS). Drill holes locations are available
from the Company’s website as well as news release dated May 16, 2023. 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
CV23-148 137.3 232.6 95.3 1.62 147 C V23-174 149.4 158.2 8.7 2.06 145 Hydrogeology hole
incl. 182.0 229.6 47.6 2.09 143 213.5 217.5 4.1 1.30 214
or 184.0 188.1 4.1 4.44 101 221.5 265.8 44.2 0.99 84
CV23-149 n/a Infrastructure hole incl. 221.5 236.9 15.3 2.58 128
CV23-150 Previously reported Hydrogeology hole 370.6 373.8 3.2 0.20 117
CV23-151 336.8 355.0 18.2 0.36 101 CV23-175 62.2 66.1 3.94(3) 1.05 210
360.7 364.7 4.0 0.20 129 69.4 74.2 4.8 1.30 264
CV23-152 Previously reported CV23-176 Previously reported
CV23-153 Previously reported Hydrogeology hole CV23-177 Assays pending
CV23-154 430.2 481.4 51.2(3)
0.59 113 CV23-178 132.6 136.3 3.6 1.86 154
incl. 434.0 444.0 10.1 0.87 153 C V23-179 Assays pending
incl. 472.2 481.4 9.3 0.91 84 CV23-180 92.0 98.8 6.8 1.27 190
CV23-155 Previously reported Hydrogeology hole 102.2 105.8 3.5 1.04 204
CV23-156 449.4 476.9 27.5 0.40 122 CV23-181 Assays pending
incl. 470.5 473.7 3.2 2.22 99 CV23-182 97.0 189.6 92.6 0.48 123
CV23-157 Previously reported Hydrogeology hole Incl. 171.9 186.7 14.8 1.06 124
CV23-158 n/a Infrastructure hole 216.7 227.0 10.3 0.55 160
CV23-159 Previously reported Hydrogeology hole CV23-183 Assays pending
CV23-160 Previously reported CV23-184 Assays pending
CV23-160A 61.9 189.5 127.7 1.78 158 CV23-185 Assays pending
incl. 79.6 129.7 50.1 2.43 190 CV23-186 Previously reported Hydrogeology hole
197.1 200.2 3.1 1.39 185 C V23-187 5.0 12.0 6.0(2)
0.73 249
251.6 253.8 2.2 0.56 68 96.4 110.5 14.1 1.19 70
326.8 330.8 4.0 0.04 165 120.2 125.3 5.1 1.37 147
CV23-161 Previously reported 171.2 181.0 9.8 0.45 82
CV23-162 Assays pending 213.0 218.3 5.4 0.01 101
CV23-163 n/a Infrastructure hole CV23-188 No appreciable mineralization
CV23-164 Previously reported Hydrogeology hole CV23-189 Assays pending
CV23-165 Assays pending CV23-190 Assays pending
CV23-166 Previously reported Hydrogeology hole
CV23-166A 19.1 25.2 6.2(2)
0.65 438 Hydrogeology hole
CV23-167 Previously reported Hydrogeology hole
CV23-168 Previously reported
CV23-168A Previously reported
CV23-169 Previously reported Hydrogeology hole
CV23-170 Assays pending
CV23-171 125.6 129.9 4.3 1.57 74
CV23-172 85.7 89.2 3.4 0.05 169
106.3 174.0 67.7(3) 0.37 146
Incl. 153.3 166.5 13.2 1.14 9 7
185.4 188.0 2.5 2.40 103
312.7 319.1 6.4 1.01 540
327.2 342.8 15.7 0.94 290
CV23-173 Assays pending
(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.
Figure 4: High-grade (~2.3% Li2O) spodumene pegmatite in drill hole CV23-160A
Figure 5: Massive spodumene crystals in drill hole CV23- 148, including a 1.1 m interval of
6.43% Li2O (185.0 to 186.1 m)
Quality Assurance / Quality Control (QAQC)
A Quality Assurance / Quality Control protocol following industry best practices was incorporated
into the program and included systematic insertion of quartz blanks and certified reference
materials into sample batches, as well as collection of quarter -core duplicates, at a rate of
approximately 5%. Additionally, analysis of pulp -split and coarse- split sample duplicates w ere
completed to assess analytical precision at different stages of the laboratory preparation process,
and external (secondary) laboratory pulp- split duplicates were prepared at the primary lab for
subsequent check analysis and validation.
All core samples collected were shipped to SGS Canada’s laboratory in Val-d’Or, QC, for standard
sample preparation (code PRP89) which includes drying at 105°C, crush to 75% passing 2 mm,
riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS
Canada’s laboratory in Burnaby, BC, where the samples were homogenized and subsequently
analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS
finish (codes GE_ICP91A50 and GE_IMS91A50).
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company
in 2017 and spans more than 25- km across the Corvette Property. The core area includes an
approximate 3.7 km long spodumene pegmatite (the ‘C V5 Pegmatite’) and multiple proximal
secondary spodumene pegmatite lenses.
To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Corvette
Property – CV5 Pegmatite and associated lenses, CV4, CV8 -12, CV9, CV10, and CV13. G iven
the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the
area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a
single, larger pegmatite ‘outcrop’ subsurface. Further, t he high number of well -mineralized
pegmatites along the trend indicate a strong potential for a series of relatively closely
spaced/stacked, sub-parallel, and sizable spodumene -bearing pegmatite bodies, with significant
lateral and depth extent, to be present.
Qualified/Competent Person
The information in this news release that relates to exploration results for the Corvette Property is
based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who
is a Qualified Person as defined by National Instrument 43- 101, and member in good standing
with the Ordre des Géologues du Québec (Geologist Permit number 1968), and with the
Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr.
Smith has reviewed and approved the technical information in this news release.
Mr. Smith is Vice President of Exploration for Patriot Battery Metals Inc. and a Senior Geologist
and Project Manager with Dahrouge Geological Consulting Ltd. Mr. Smith holds common shares
and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit
under consideration, and to the activities being undertaken to qualify as a Competent Person as
described by the JORC Code, 2012. Mr. Smith consents to the inclusion in this news release of the
matters based on his information in the form and context in which it appears.