Patriot Drills 56.6 m at 1.37% Li2O in Step-Out Hole and Completes Final Hole of 2023 Program at the CV5 Pegmatite, 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
Patriot Drills 56.6 m at 1.37% Li2O in Step-Out Hole and Completes
Final Hole of 2023 Program at the CV5 Pegmatite, Quebec, Canada
December 17, 2023 – Vancouver, BC, Canada December 18, 2023 – Sydney, Australia
Highlights
• Patriot continues to intersect well-mineralised zones in step -out drilling at the CV5
Pegmatite, with highlights:
o 56.6 m at 1.37% Li2O and 9.9 m at 3.58% Li2O (CV23-231).
o 50.1 m at 1.17% Li2O, 38.0 m at 1.44% Li2O, and 17.2 m at 2.20% Li2O
(CV23-223).
o 48.4 m at 1.21% Li2O, including 11.0 m at 3.42% Li2O (CV23-211).
o 29.2 m at 1.35% Li2O, including 8.4 m at 3.50% Li2O (CV23-240).
o 25.6 m at 1.98% Li2O and 33.4 m at 0.80% Li2O (CV23-222).
• Patriot continues to intersect well-mineralised zones in step -out drilling at the CV13
Pegmatite, with highlights:
o 19.2 m at 1.74% Li2O (CV23-215).
o 14.8 m at 1.36% Li2O (CV23-210).
• A total of 177 holes, for approximately 45,700 m, ha s been completed over the summer -
fall program. Assay results for 27 holes are reported herein. Assays remain to be reported
for more than 125 drill holes, including ~1.5 km of prospective pegmatite trend across
the CV5 and CV13 pegmatites.
o The Company is currently working to process a backlog of core, due to wildfires
and prioritization of drilling staff in accommodation. Core processing is continuing
at site and is expected to continue through to the holidays to clear the remaining
backlog.
o Going forward the Company will only report pegmatite drill intercepts at the same
time as the respective core assays are announced, in compliance with applicable
ASX and TSX-V rules. The change is intended to allow for reporting of results in
the most appropriate manner available between the ASX and TSX regulatory
regimes.
• The CV5 Spodumene Pegmatite has been traced to a 4.35 km strike length, which
remains open along strike and at depth ( see news release dated September 24, 2023 ) –
drill results for an additional 0.25 km of prospective strike length remain to be reported.
• The CV13 Spodumene Pegmatite has been traced to a ~1.1 km strike length, which
remains open along strike and at depth (see news release dated October 18, 2023) – drill
results for an additional ~1.2 km of prospective strike length remain to be reported.
• The CV9 Spodumene Pegmatite has been traced to a 0.45 km strike length following
initial drill testing , which remains open along strike and at depth (see news released
dated November 22, 2023).
• Multiple spodumene pegmatite outcrop clusters remaining to be drill tested – CV4, CV8,
CV10, and CV12 (only 1 shallow hole completed to date).
Blair Way , Company President, CEO, and Director , comments: “ It is hard to understate the
success of the 2023 drill campaign, including our recently completed summer-fall program. In
addition to underpinning a maiden mineral resource estimate mid year, which established CV5 as
a world class deposit and one of the largest lithium pegmatites globally, we have extended the
strike length of CV5 to 4.35 km with drill results over additional prospective strike remaining to
be reported. Further, drilling this summer-fall at CV13 has confirmed continuous pegmatite of at
least 1.1 km in strike length with drill results for an additional 1.2 km of prospective strike
remaining to be reported, and initial drill testing at CV9 has outlined a potentially large and fertile
pegmatite over at least 450 m of strike length . The 2023 program has firmly demonstrated the
world class scale of the system at Corvette, and is poised for continued growth over the next few
months as additional assays from the program are reported.”
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce further drill results , as well as
completion of the final hole of its 2023 drill campaign at the Corvette Property with core
processing continuing at site. The Corvette Property (the “Property” or “Project”), wholly owned
by the Company, is located in the Eeyou Istchee James Bay region of Quebec. The 2023 drill
campaign included holes completed at the CV5, CV13, and CV9 pegmatites. The CV5 Spodumene
Pegmatite, with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2O inferred 1, is
situated approximately 13.5 km south of the regional and all‑weather Trans -Taiga Road and
powerline infrastructure. The CV13 and CV9 spodumene pegmatite s are located approximately
3 km west-southwest and 14 km west of CV5, respectively (Figure 1).
A total of 266 holes, for approximately 78,100 m of coring, have been completed over the 2023
drill campaign. Of this, 177 holes, totalling approximately 45,700 m, have been completed during
the summer-fall program – 82 holes (~26,600 m) at CV5, 74 holes (~14,900 m) at CV13, 18 holes
(~4,050 m) at CV9, and 3 holes (~150 m) at the KM-270 camp. Collectively, to date, the Company
has now completed over 350 drill holes, totalling approximately 105,500 m, targeting lithium
pegmatite across the Property.
The Company continues to process drill core from the 2023 program on site and is expected to
have core samples from the final holes into the lab early in the new year. Going forward the
Company will only report pegmatite drill intercepts at the same time as the respective core assays
are announced, in compliance with applicable ASX and TSX -V rules. The change is intended to
allow for reporting of results in the most appropriate manner available between the ASX and TSX
regulatory regimes.
Drill core sample a ssay results for 2 7 holes are reported herein. Core sample assays for more
than 125 holes completed over the 2023 summer fall drill program remain to be announced.
Figure 1: Spodumene pegmatite occurrences at the Property.
CV5 Pegmatite
New drill results reported herein continue to demonstrate that the CV5 Spodumene Pegmatite
remains well mineralized over its previously announced western extension (see news release dated
September 24, 2023 ), and outside of the June 2023 mineral resource estimate block model (see
news released dated July 30, 2023). Results are presented in Table 1 and include:
• 56.6 m at 1.37% Li2O and 9.9 m at 3.58% Li2O (CV23-231).
• 50.1 m at 1.17% Li2O, 38.0 m at 1.44% Li2O, and 17.2 m at 2.20% Li2O (CV23-223).
• 48.4 m at 1.21% Li2O, including 11.0 m at 3.42% Li2O (CV23-211).
• 29.2 m at 1.35% Li2O, including 8.4 m at 3.50% Li2O (CV23-240).
• 25.6 m at 1.98% Li2O and 33.4 m at 0.80% Li2O (CV23-222).
Figure 2: Simplified geological cross-sections over the recently defined western extension at CV5.
Very strong grades over material widths are present over the western extension at CV5, including
at least four (4) intervals of 5+ m at 3. 4+% Li2O (drill holes CV23-208, 211, 231, and 240) in
assays reported to date. F urther drill delineation of the area is a high priority for the Company.
Geological cross-section interpretations for two fences of drill holes completed over the western
extension are presented in Figure 2.
Additionally, i nfill drilling at CV5 continues to return wide and well- mineralized spodumene
pegmatite intercepts. Results announced herein include 67.1 m at 1.56% Li2O, including 13.0 m
at 3.44% Li2O (CV23-241), and 63.0 m at 1.13% Li2O (CV23-230).
With the 2023 summer -fall drill program now completed, the Company has extended the CV5
Pegmatite to approximately 4.35 km total strike length and remains open (see news release
dated September 24, 2023 ) with drill results for an additional 0.25 km of prospective strike
length remaining to be reported ( Figure 3). The CV5 maiden mineral resource estimate
(109.2 Mt at 1.42% Li 2O, inferred1) includes only ~ 3.4 km of the current 4.35 km strike length,
thereby outlining significant and tangible potential for resource expansion. Already, the maiden
mineral resource estimate for CV5 denotes it as the largest lithium pegmatite deposit in the
Americas1 and is well positioned to become an important source of spodumene for the growing
battery-supply chain of North America.
Collectively, the 2023 summer-fall program has drill tested an additional 900 m of strike length
over the CV5 area with results reported for only 650 m of this. This drilling was completed in the
west as step-outs towards CV13, closing the gap remaining to be drill tested between the two
pegmatites to 2.9 km (Figure 4).
Figure 3: Drill holes completed through 2023 at CV5 Spodumene Pegmatite.
Table 1: Core assay summary for drill holes reported herein at the CV5 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
CV23-192 277.6 295.6 18.0 0.68 80 Hydrogeology hole CV23-223 60.5 98.4 38.0 1.44 128
300.5 317.0 16.6 2.02 69 Incl. 75.9 77.3 1.4 5.77 347
CV23-193 Results previously reported 102.8 113.7 10.9 0.23 180
CV23-194 Results previously reported 134.6 136.7 2.1 0.20 260
CV23-196 Results previously reported 256.7 259.2 2.6 0.05 73
CV23-197 Results previously reported 270.2 272.4 2.2 0.09 268
CV23-199 Results previously reported 273.4 290.6 17.2 2.20 223
CV23-201 Results previously reported 299.3 349.5 50.1 1.17 214
CV23-203 Results previously reported Incl. 322.9 344.0 21.2 2.04 211
CV23-205 Results previously reported 359.2 378.1 18.9 0.96 138
CV23-206 55.4 57.6 2.2 0.06 68 CV23-225 100.8 102.5 1.7 1.87 70
64.2 79.4 15.3 0.87 152 CV23-226 38.8 84.5 45.7 0.77 93
81.6 86.9 5.3 1.03 259 Incl. 39.5 66.4 26.9 1.07 112
119.1 121.2 2.1 0.05 206 268.4 279.1 10.7 1.32 106
139.9 151.8 11.9 0.20 316 CV23-228 55.6 61.9 6.3 0.04 145
154.6 159.3 4.7 0.48 199 95.9 100.4 4.5 0.03 132
182.2 188.8 6.6 0.55 225 CV23-230 46.7 109.8 63.0 1.13 226
195.7 198.3 2.6 0.98 146 155.1 159.6 4.6 1.23 141
200.9 206.8 5.9 0.52 219 210.3 223.8 13.5 1.30 103
224.3 228.8 4.5 0.05 187 CV23-231 53.6 68.1 14.5 0.90 141
237.3 241.2 3.8 0.24 489 84.0 104.3 20.4 2.07 139
283.4 291.3 8.0 0.02 270 Incl. 84.0 93.9 9.9 3.58 93
CV23-208 Results previously reported 266.2 322.8 56.6 1.37 161
CV23-209 Results previously reported Incl. 285.7 304.4 18.7 2.06 128
CV23-211 59.0 61.5 2.6 0.76 140 CV23-232 110.2 113.2 3.0 0.71 38
65.3 113.7 48.4 1.21 104 CV23-236 28.4 62.5 34.2 Assays pending
Incl. 97.5 108.5 11.0 3.42 180 64.4 68.5 4.1 Assays pending
127.3 138.8 11.5 0.72 125 217.6 224.7 7.2 Assays pending
150.2 160.9 10.6 0.22 383 CV23-240 87.4 116.6 29.2 1.35 215
242.8 259.6 16.8 1.47 171 Incl. 106.2 114.6 8.4 3.50 161
Incl. 242.8 247.7 4.9 3.49 233 281.3 283.8 2.4 0.46 225
360.5 364.7 4.2 0.46 202 292.0 297.6 5.6 0.91 150
407.2 409.7 2.5 0.03 273 CV23-241 60.1 75.4 15.3 1.59 178
410.4 413.8 3.3 0.00 339 98.8 104.4 5.6 0.80 293
CV23-212 Results previously reported 152.1 219.2 67.1 1.56 269
CV23-214 Results previously reported Incl. 179.1 192.1 13.0 3.44 255
CV23-217 Results previously reported 257.2 263.9 6.6 0.10 70
CV23-219 99.8 103.2 3.3 1.13 62 265.5 267.7 2.1 0.22 107
105.2 115.9 10.7 1.10 83 287.4 307.8 20.4(3) 1.42 110
Incl. 109.5 112.5 3.0 3.06 194 331.7 337.7 6.0 0.63 128
191.6 202.6 11.0 1.24 135 389.3 392.9 3.6 0.01 56
283.0 285.5 2.5 0.01 1228
291.8 294.7 2.9 0.06 10
CV23-220 128.1 138.0 9.9 1.62 108
CV23-222 55.9 81.4 25.6 1.98 137
86.0 91.0 5.0 2.53 108
263.4 266.8 3.4 0.10 395
280.2 313.6 33.4 0.80 197
Incl. 282.7 294.5 11.9 1.87 153
(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' completed to support a hydrogeological model for Project.
Figure 4: Remain to be drill tested corridor between the CV5 & CV13 spodumene pegmatites.
CV13 Pegmatite
At the CV13 Pegmatite, drill results continue to demonstrate a well- mineralized upper pegmatite
dyke of comparable widths to those reported in drill hole in 2022. Drill results announced herein
are presented in Table 2 and include:
• 19.2 m at 1.74% Li2O (CV23-215)
• 14.8 m at 1.36% Li2O (CV23-210)
• 11.2 m at 1.02% Li2O (CV23-235)
• 9.7 m at 1.07% Li2O (CV23-213)
The lower pegmatite dyke remains more variably mineralized compared to the upper dyke with
results including 10.0 m at 0.83% Li 2O (CV23-218). The Company will continue to strategically
test the lower pegmatite dyke for abrupt thickening (i.e., a blow-out) coincident with the presence
of spodumene mineralization.