Patriot Drills 26.1 m at 1.21% Li2O in Step-Out Hole at the CV13 Pegmatite, 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 Drills 26.1 m at 1.21% Li2O in Step-Out Hole at the CV13
Pegmatite, Quebec, Canada
January 31, 2024 – Vancouver, BC, Canada February 1, 2024 – Sydney, Australia
Highlights
• Patriot continues to intersect spodumene at the CV13 Pegmatite, with highlights:
o 26.1 m at 1.21% Li2O (CV23-286).
o 18.3 m at 1.33% Li2O (CV23-249).
o 17.8 m at 1.11% Li2O (CV23-269).
o 19.1 m at 1.00% Li2O (CV23-250).
o 16.4 m at 1.51% Li2O (CV23-294).
o 15.2 m at 1.29% Li2O (CV23-263).
o 21.3 m at 0.85% Li2O, including 12.2 m at 1.33% Li2O (CV23-238).
• Previously identified higher-grade zone has been extended to at least 200+ m strike
length.
o 15.7 m at 1.52% Li2O, including 10.6 m at 1.99% Li2O or 2.5 m at 5.28%
Li2O (CV23-271).
• The CV13 Pegmatite has been traced to a 2.3 km strike length, as defined by multiple
outcrop exposures and drilling completed to date, and remains open along strike at both
ends and to depth.
• Additional step-out drilling is planned at the CV13 Spodumene Pegmatite as part of the
2024 winter program currently underway at the Property, along strike and downdip of the
principal pegmatite body.
• Assays are reported herein for 22 drill holes completed in 2023 at the CV13 Spodumene
Pegmatite.
• For drill holes completed in 2023, results remain to be reported for an additional 35 holes
at the CV13 Pegmatite, 54 holes at the CV5 Pegmatite, and 18 holes at the CV9 Pegmatite.
Figure 1: Drill holes completed through 2023 at CV13 Spodumene Pegmatite.
Figure 2: Cross-section of the CV13 Spodumene Pegmatite’s geological model along its western arm.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce additional drill results from the 2023
program completed at the CV13 Spodumene Pegmatite 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 CV13 Spodumene Pegmatite is located approximately
3 km west-southwest of the CV5 Spodumene Pegmatite, which hosts a maide n mineral resource
estimate of 109.2 Mt at 1.42% Li 2O inferred1 and is situated approximately 13.5 km south of the
regional and all‑weather Trans-Taiga Road and powerline infrastructure.
Drill results for 22 drill holes completed in 2023 at the CV13 Spodumene Pegmatite are reported
herein ( Figure 1). These holes primarily target the near- surface and downdip extension of the
principal pegmatite body in the apex of the regional host structure, as well as the immediate
western limb. Results include:
• 26.1 m at 1.21% Li2O (CV23-286),
• 18.3 m at 1.33% Li2O (CV23-249),
• 19.1 m at 1.00% Li2O (CV23-250), and
• 16.4 m at 1.51% Li2O (CV23-294).
The drilling continues to trace spodumene pegmatite at CV13 to the west -northwest along
geological trend and remains open along strike and downdip in this area. The most westerly drill
result reported to date in this area include 19.1 m at 1.00% Li 2O (CV23-250), as announced
herein. The mineralized pegmatite in this area has a shallow northeasterly dip resulting in
pegmatite being traced down dip for over 250 m with minimal drilling, while still only being
approximately 100 m vertical depth below surface (see geological cross- sections in Figure 2 and
Figure 3).
Additionally, the drill results reported herein have extended the previously identified higher-grade
zone at the CV13 Spodumene Pegmatite (see news release dated October 18, 2023 ). Drill hole
CV23-271 returned 10.6 m at 1.99% Li 2O or 2.5 m at 5.28% Li 2O within a wider interval of
15.7 m at 1.52% Li2O. This higher-grade zone now extends northeasterly along the eastern limb
of the principal pegmatite for at least 200+ m, is present at shallow depth ( typically within 40 -
50 m vertical depth ) and remains open in several directions. Results of previously reported drill
holes from this zone include 12.7 m at 2.46% Li 2O (CV23-191), 8.0 m at 2.86% Li2O
(CV23-195), 10.2 m at 2.70% Li2O (CV23-198), 10.7 m at 2.79% Li2O (CV23-200), 14.0 m at
2.14% Li2O (CV22-092), and 7.0 m at 1.98% Li2O (CV22-095).
The CV13 Pegmatite is currently interpreted to be characterized by a principal “upper” dyke and
a secondary “lower” dyke, as well as several subordinate sub -parallel dykes, and are collectively
geologically modelled to be shallowly dipping northerly. The principal dyke (the “upper” dyke) ,
which hosts the higher-grade zone, dips typically between 20-25° and has been traced at depth to
at least 300 m down-dip (vertical depth from surface of ~140 m) and remains open.
Additional step -out drilling is planned at the CV13 Spodumene Pegmatite as part of the 2024
winter program currently underway at the Property. This is anticipated to include step-out drilling
along strike and downdip of the principal pegmatite body (Figure 4), as well as delineation drilling
at the higher-grade zone.
Core sample assays for drill holes reported herein are presented in Table 1 for all pegmatite
intersections >2 m. Drill hole locations and attributes are presented in Table 2. For drill holes
completed in 2023, results remain to be reported for the CV13 Pegmatite (35 holes), the CV5
Pegmatite (54 holes), and the CV9 Pegmatite (18 holes). The Company has completed processing
of the drill core backlog from the 2023 program with the final samples to arrive on the lab shortly.
Figure 3: Cross-section of the CV13 Spodumene Pegmatite’s geological model along its western arm.
Core assay results pending for CV23-305 and 312.
Table 1: Core assay summary for drill holes reported herein at the CV13 Spodumene Pegmatite
Table 2: Attributes for drill holes reported herein at the CV13 Spodumene Pegmatite
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Comments
CV23-191 Results previously reported CV23-253 73.7 97.7 24.0 0.42 59
CV23-195 Results previously reported incl. 78.0 82.6 4.6 1.01 51
CV23-198 Results previously reported CV23-255 70.8 91.7 21.0 0.59 246
CV23-200 Results previously reported incl. 83.9 86.9 3.0 3.21 64
CV23-202 88.5 98.2 9.7 1.16 91 CV23-257 65.0 69.5 4.5 0.42 73
243.0 250.3 7.3 0.14 32 78.9 88.3 9.4 0.21 90
CV23-204 Results previously reported CV23-258 No >2 m pegmatite intersections
CV23-207 Results previously reported CV23-263 53.3 68.5 15.2 1.29 113
CV23-210 Results previously reported CV23-266 82.5 84.7 2.2 Assays pending
CV23-213 Results previously reported CV23-269 49.3 67.1 17.8 1.11 99
CV23-215 Results previously reported CV23-270 66.7 81.0 14.3 0.76 37
CV23-216 Results previously reported incl. 67.7 75.0 7.3 1.31 43
CV23-218 Results previously reported CV23-271 57.1 72.8 15.7 1.52 1,437
CV23-221 Results previously reported incl. 58.1 68.7 10.6 1.99 1,925
CV23-224 Results previously reported or 58.1 60.6 2.5 5.28 31
CV23-227 Results previously reported CV23-276 83.6 86.0 2.5 0.02 50
CV23-229 Results previously reported CV23-277 68.3 82.1 13.8 0.39 55
CV23-233 Results previously reported CV23-280 No >2 m pegmatite intersections
CV23-235 Results previously reported CV23-282 No >2 m pegmatite intersections
CV23-238 100.7 121.9 21.3 0.85 62 CV23-286 42.1 68.2 26.1(3) 1.21 75
incl. 103.1 115.3 12.2 1.33 67 78.9 83.0 4.1 0.04 115
CV23-242 92.9 107.6 14.7 0.44 48 CV23-288 2.7 4.8 2.1 0.01 102
incl. 96.4 100.0 3.7 0.94 92 208.7 211.3 2.6 0.04 82
CV23-245 51.8 61.6 9.8 - - Not sampled CV23-293 45.4 48.1 2.7 Assays pending
CV23-245A 52.2 70.9 18.7 0.80 131 CV23-294 35.4 51.8 16.4 1.51 72
incl. 56.7 62.3 5.6 1.19 175 157.1 162.4 5.3 0.07 59
CV23-249 74.2 92.5 18.3 1.33 81
211.4 217.5 6.1 0.43 38
CV23-250 43.6 62.7 19.1 1.00 85
incl. 47.6 58.4 10.9 1.56 113
(1) All intervals are core length and presented for all pegmatite intervals >2 m. Geological
modelling is ongoing; (2) Collared in pegmatite; (3) Includes minor intervals of non-
pegmatite units (typically <3 m); drill hole CV23-245 lost at shallow depth and re-collared
as 245A.
Hole ID Substrate Total Depth (m) Azimuth (°) Dip (°) E asting Northing Elevation (m) Core Size Cluster Comments
CV23-202 Land 302.0 220 -4 5 565054.8 5927953.3 419.4 NQ CV13
CV23-238 Land 176.2 200 -45 564466.0 5928113.6 409.4 NQ CV13
CV23-242 Land 161.0 200 -75 564466.5 5928114.2 409.4 NQ CV13
CV23-245 Land 61.6 200 -45 564339.9 5928050.1 405.0 NQ CV13
CV23-245A Land 142.9 200 -45 564339.9 5928050.1 405.0 NQ CV13
CV23-249 Land 224.0 160 -45 564934.8 5927940.8 417.2 NQ CV13
CV23-250 Land 116.0 200 -85 564340.5 5928051.4 405.0 NQ CV13
CV23-253 Land 161.1 200 -45 564619.1 5927947.5 402.2 NQ CV13
CV23-255 Land 131.2 80 -45 564936.2 5927944.4 417.7 NQ CV13
CV23-257 Land 161.0 200 -85 564619.4 5927948.4 402.2 NQ CV13
CV23-258 Land 296.0 0 -90 564935.3 5927944.3 417.6 NQ CV13
CV23-263 Land 86.0 200 -45 564434.5 5928018.3 401.2 NQ CV13
CV23-269 Land 83.0 200 -85 564434.9 5928019.4 401.6 NQ CV13
CV23-270 Land 119.0 200 -45 564527.9 5927979.6 404.0 NQ CV13
CV23-271 Land 149.2 110 -75 565068.5 5927999.1 429.0 NQ CV13
CV23-276 Land 182.0 140 -45 565180.4 5928160.3 441.7 NQ CV13
CV23-277 Land 287.0 200 -85 564528.6 5927980.6 404.1 NQ CV13
CV23-280 Land 209.0 200 -45 565178.1 5928159.7 441.5 NQ CV13
CV23-282 Land 184.9 70 -45 565181.4 5928163.8 441.8 NQ CV13
CV23-286 Land 95.0 200 -45 564804.5 5927873.3 402.3 NQ CV13
CV23-288 Land 314.0 0 -90 565180.8 5928163.4 441.8 NQ CV13
CV23-294 Land 170.2 200 -85 564804.9 5927874.2 402.3 NQ CV13
(1) Coordinate system NAD83 / UTM zone 18N; (2) All drill holes are diamond drill; (3) Azimuths and dips presented are those 'planned' and may vary off collar/downhole
Figure 4: Corridor remaining to be drill tested between the CV5 & CV13 spodumene pegmatites.
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at
a cut-off grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole CV23-190). Mineral
resources are not mineral reserves as they do not have demonstrated economic viability. Largest in the
Americas based on contained LCE.
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 at a rate of approximately 5%. Additionally, analysis of pulp- split
and coarse-split sample duplicates were 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 sample
preparation (code PRP89 special) which includes drying at 105°C, crush to 90% passing 2 mm,
riffle split 250 g, and pulverize 85% passing 75 microns. The pulps w ere 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 is interpreted to span more than 50 kilometres across the Corvette Property. The core
area includes the approximate 4.35 km long CV5 S podumene Pegmatite, which hosts a maiden
mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1.
To date, seven (7) distinct clusters of lithium pegmatite have been discovered across the Corvette
Property – CV4, CV5 , CV8, CV9, CV10, CV12, and CV13. Given 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.
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 – Standards of Disclosure for
Mineral Projects, and member in good standing with the Ordre des Géologues du Québec
(Geologist Permit number 01968), 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 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 Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (the JORC Code). 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.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a hard -rock lithium exploration company focused on advancing its
district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of
Quebec, Canada, and proximal to regional road and powerline infrastructure. The Corvette
Property hosts the CV5 Spodumene Pegmatite with a maiden mineral resource estimate of
109.2 Mt at 1.42% Li 2O inferred 1 and ranks as the largest lithium pegmatite resource in the
Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest
lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other
spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of
prospective trend that remains to be assessed.
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2O and 160 ppm Ta 2O5 inferred) is
reported at a cut-off grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole
CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated
economic viability.