Patriot Drills 70.1 m of 2.22% Li2O including an interval 40.7 m of 3.01% Li2O in First Drill Hole to Test the CV1 Pegmatite at the East End of the Winter Drilling Corridor at the Corvette Property, Quebec
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com CSE: PMET / OTC: PMETF / FSE: R9GA
Patriot Drills 70.1 m of 2.22% Li2O including an interval 40.7 m of
3.01% Li2O in First Drill Hole to Test the CV1 Pegmatite at the East
End of the Winter Drilling Corridor at the Corvette Property,
Quebec
May 24, 2022 – Vancouver, BC, Canada
Highlights
• Strongest lithium grades to date returned from drilling at the Property in first hole (CV22-017) to test
the CV1 Pegmatite
o 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m within a wider zone of 2.22% Li2O and 147 ppm
Ta2O5 over 70.1 m. The interval includes,
Nine (9) samples assaying >4% Li2O to a peak of 6.35% Li2O over 0.92 m.
Five (5) samples assaying >400 ppm Ta2O5 to a peak of 1,120 ppm Ta2O5 over 1.0 m.
• Drill hole targeted the CV1 Pegmatite, located approximately 1.1 km northeast of and on trend with
the CV5 Pegmatite.
o Geological modelling indicates the mineralized intercept in hole CV2 2-017 (70.1 m) is part of
the main pegmatite body trending through the CV5-1 Pegmatite corridor.
• Core assays for additional fifteen (15) drill holes from the winter/spring program remain to be
reported.
• The summer/fall drill program will resume in early June to progress the infill drilling of the CV5 -1
Pegmatite corridor with two drill rigs , including follow -up of the high-grade zone returned at
CV22-017. The drilling will further test the mineralized trend along strike, which is currently open to
the east, west, and at depth.
• The third drill rig will target the other spodumene pegmatite outcrops identified through exploration
to date, and any new discoveries identified as part of the 2022 surface exploration program.
• Surface exploration will include detailed outcrop mapping proximal to the known spodumene
pegmatites t o further refine drill hole targeting, a s well as prospecting of the recently acquired
Property blocks to identify and characterize pegmatite outcrop s present with the objective to find
additional lithium pegmatites.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF ) (FSE: R9GA) is
pleased to announce analytical results for CV22-017, the first hole completed by Rig #2 during the winter/spring drill
program at the Company’s wholly owned Corvette Property (the “Property”).
Drill hole CV22 -017 was designed to test the CV1 Pegmatite outcrop ’s mineralization at depth and is the first drill
hole to test the target, located approximately 1.1 km northeast of and on trend with the CV5 Pegmatite (Figure 1). The
drill hole was co llared over lake ice from the outcrop ’s northside at an orientation of 158°/45°, with an end-of-hole
depth of 344.7 m. The drill hole encountered pegmatite deeper than anticipated based on interpreted orientation of the
CV1 Pegmatite at the time, and returned the widest high-grade lithium mineralized interval to date at 3.01% Li2O
over 40.7 m within a wider zone of 2.22% Li2O over 70.1 m. The strong lithium grades were also accompanied by
strong tantalum grades of 160 ppm and 147 ppm Ta2O5, respectively.
Vice President of Exploration Darren L. Smith comments, “ Being able to finally drill the CV5 and CV1 Pegmatites ,
and test our interpretation of this mineralized system after several years of dedicated mineral exploration, is certainly
a highlight of my career . The grades and widths of mineralization continue to exceed expectations and confirm that
we have tapped into a very sizable lithium pegmatite system. Seeing the progress of this grassroots discovery that
started in 2016 with the CV1 Pegmatite and has since grown int o a new and emerging lithium pegmatite district of
considerable scale, is truly remarkable. Discoveries such as these are never less than a team effort and I applaud the
management team , exploration geologists, and support staff involved that , together, have enabled us to piece the
puzzle together and build this shareholder value . I am very excited for the weeks and months ahead , and to have the
security of cash on hand to enable us to carry out this aggressive drill campaign throughout 2022.
A summary of lithium (and tantalum) intercepts for drill hole CV22-017 is presented in Table 1 and Figure 2, and core
photos of the mineralized intercept in Figures 3 and 4. Drill hole locations for holes completed as part of the winter
program are in Figure 1.
Table 1: Mineralized drill intercept summary for holes completed in 2022 at the CV 5-1 Pegmatite corridor
In addition to returning the widest high- grade lithium mineralized interval to date from the Property – 3.01% Li2O
over 40.7 m within a wider zone of 2.22% Li2O over 70.1 m – drill hole CV22-017 also returned the highest grade
of lithium to date from an individual core sample at 6.3 5% Li2O over 0.92 m. This equates to a spodumene content
in the sample of approximately 80% . Further, drill hole CV22-017 returned nine (9) samples >4% Li2O and four (4)
samples >5% Li2O further demonstrating the high- grade potential the CV5 -1 Pegmatite corridor has. The drill
hole also returned five (5) core samples assaying >400 ppm Ta 2O5 to a peak of 1,120 ppm Ta 2O5 (2.07% Li2O) over
1.0 m.
Geological modelling indicates the mineralized intercept in hole CV21 -017 (70.1 m) is part of the main pegmatite
body trending through the pegmatite corridor, which connects to the CV5 Pegmatite to the west. Based on geophysical,
Target Land/Ice Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Total
Depth
(m)
Azimuth
(°)
Dip
(°) Date Reported
CV22-015 27.1 37.0 9.9 0.76 83
incl. 27.1 32.0 4.9 1.14 96
51.5 58.3 6.8 1.22 113
70.6 75.1 4.5 0.99 105
CV22-016 91.0 147.6 56.6 0.85 122
incl. 91.0 120.0 29.0 0.91 127
incl. 134.5 147.6 13.1 1.53 137
195.5 210.0 14.5 0.92 118
CV22-017 165.7 235.8 70.1 2.22 147
incl. 165.7 185.0 19.4 1.57 148
incl. 190.4 231.0 40.7 3.01 160
Ice CV22-018 55.0 80.8 25.8 1.01 100 149.9 158 -45 17-May-2022
CV22-019 110.2 206.0 95.8 0.80 118
incl. 110.2 144.0 33.8 1.17 111
incl. 192.0 204.0 12.0 1.23 103
(1) All drill holes are NQ core size.
(2) All intervals are core length. True width of intervals is not confirmed. Geological modelling is ongoing.
17-May-2022
17-May-2022
25-May-2022
17-May-2022
CV5-1
Corridor
Ice
Ice
252.1 158
Ice
344.7 158
230.9 158 -45
Ice
176.9 158 -45
-45
-45
surface, and drill data collected to date, the CV1 outcrop may represent a splay off the main pegmatite body at depth,
or a second sub-parallel trending body marked by a fault offset between. Additional drilling is required to refine
the geological model in this area , and the extent of this high- grade zone, and will be a high priority for the
summer/fall phase of drilling.
The CV4 lithium pegmatite outcrops – three (3) outcrops with recent sample assays ranging from 0.28-2.00% Li2O –
are located approximately 2.8 km along trend of the CV1 Pegmatite outcrop, which was targeted with drill hole
CV22-017. The current geological model and results of hole CV22- 017 suggest a strong potential along this corridor
through to CV4 and will be an additional focus of drill exploration in 2022 as a potential extension eastward along
this trend of the mineralized pegmatite and high-grade zone is tested.
The drill collar for hole CV22 -017 is located approximately 900 m along trend of drill hole CV22- 018 and is t he
easternmost drill hole with assays reported to date. When coupled with the 2021 drill holes, a total of nine (9) drill
holes, over along an approximate 1,800 m trend, have reported strong grades of lithium-tantalum mineralization. Core
assay results for an additional fifteen (15) drill holes over this trend completed as part of the winter/spring program
remain to be reported. The Company is using SGS Canada (Lakefield, ON, and Burnaby, BC, facilities) as t heir
primary analytical lab with all samples from the program having arrived at the lab.
The Company will continue its fully funded 2022 drill campaign June 1 st, with an additional 15,000 m of NQ coring
planned over the summer/fall period. This drilling will focus on continued land-based infill and step-out holes around
CV5-6 and CV1- 2, as well as testing new regional targets (see news release dated March 8 th, 2022). The Company
has secured a third drill rig for June/July, as well as a barge to a llow for continued delineation of the mineralized
pegmatite beneath the shallow lake between the CV5 and CV1 pegmatites , and potential extensions eastward. The
addition of the third rig will enable increased coring production and drill exploration of spodumene pegmatite
elsewhere at the Property.
The surface component of the 2022 drill program will commence in mid-June with detailed outcrop mapping proximal
to the known spodumene pegmatite outcrops present across the Property (CV1 through CV12). This data will help
with local structural interpretation and allow for refined drill hole targeting. Additionally, the new claim blocks of the
Property recently acquired by the Company (Felix, Deca- Goose, and Corvette East) will be prospected for lithium
pegmatite. Historically, pegmatite outcrops have been documented over these claim blocks; however, the large
majority have not been assessed for lithium mineralization, representing more than 2 5 km of prospective trend.
The Company notes that it has developed a COVID Management Plan for the program and will carry out its field
programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID -19 pandemic.
Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
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 c ertified 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 course-
split sample duplicates were completed to assess analytical precision at diff erent 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 Lakefield, ON, 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. Due to capacity issues, SGS forwarded several sample batches to alternate preparation labs
in Sudbury, ON, and Burnaby, BC. The pulps were shipped by air to SGS Canada’s laboratory in Burnaby, BC, where
the samples w ere homogenized (if preparation was not at Burnaby) and subsequently analyzed for mult i-element
(including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50).
Figure 1: 2022 drill hole collar locations
Figure 2: Core sample assay highlights for drill hole CV22-017
Figure 3: High-grade lithium-tantalum drill core from CV22-017 – 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m
Figure 3: Select high-grade lithium-tantalum drill core from CV22-017
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans
the FCI West, FCI East, and Corvette claim blocks. The core area i ncludes an approximate 2 km long corridor (the
CV5-1 Corridor), which is part of the more than 25 -km long CV Lithium Trend extending across the Property. It
consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, CV7 , and
CV11 pegmatites and has returned drill intercepts of 0.94% Li2O and 117 ppm Ta2O5 over 155.1 m (CF21-002), and
2.22% Li 2O over 70.1 m , including 3.01% Li 2O over 40.7 m ( CV22-017). Drilling to date indicates a principal
pegmatite body of significant size and has been traced by drilling over a dista nce of at least 1.4 km, and therefore, is
considerably larger than that observed in outcrop. The high number of well -mineralized pegmatites in this core area
of the trend indica te 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 Person
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the
Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43- 101, has reviewed the
technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral
properties containing battery, base, and precious metals.
The Company’s flagship asset is the Corvette Property, located proximal to the Trans -Taiga Road and powerline
infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential
highlighted by the CV5-1 spodumene pegmatite corridor with drill intercepts of 0.94% Li2O and 117 ppm Ta2O5 over
155.1 m (CF21-002), and 2.22% Li2O over 70.1 m, including 3.01% Li2O over 40.7 m (CV22-017). Additionally, the
Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7
m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.
The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two
prospective gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag
over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75%
Cu.
The Company’s other assets include the Pontax Lithium -Gold Property, QC; and the Hidden Lake Lithium Property,
NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact us at [email protected] Tel: +1 ( 778) 945-2950 , or visit
www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
“BLAIR WAY”
Blair Way, President, CEO, & Director
Disclaimer for Forward-Looking Information
This news release contains forward -looking statements and other statements that are not historical facts. Forward -looking statements are often
identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of
historical fact, included in this news release are forward -looking statements that involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events c ould differ materially from those anticipated in such statements.