Patriot Drills 83.7 m of 3.13% Li2O, including 19.8 m of 5.28% Li2O, and Extends High- Grade Nova Zone, 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
Patriot Drills 83.7 m of 3.13% Li2O, including 19.8 m of 5.28% Li2O, and Extends High-
Grade Nova Zone, Corvette Property, Quebec, Canada
March 29, 2023 – Vancouver, BC, Canada March 30, 2023 – Sydney, Australia
Highlights
• Extension of the high-grade Nova Zone eastwardly by 400 m – drill holes CV23-105, 106, 107, and 108.
o 83.7 m at 3.13% Li2O (222.7 m to 306.4 m), including 19.8 m at 5.28% Li2O and 5.1 m at 5.17%
Li2O (CV23-105).
o 132.2 m at 1.22% Li2O (274.1 m to 406.3 m), including 11.2 m at 2.99% Li2O and 6.0 m at 2.92%
Li2O (CV23-106).
o 65.4 m at 1.30% Li2O (293.2 m to 358.6 m), including 37.1 m at 2.09% Li2O or 3.0 m at 5.43%
Li2O (CV23-107).
o 54.0 m at 1.55% Li2O (294.7 m to 348.6 m), including 26.6 m at 2.44% Li2O or 5.0 m at 4.30%
Li2O (CV23-108).
o The Nova Zone has now been traced over a 750 m strike length, including a very high -grade
band of greater than 5% Li2O over a minimum 200 m strike length.
• Other significant intercepts include:
o 85.0 m at 1.04% Li2O (184.4 m to 269.4 m), including 39.4 m at 1.51% Li2O (CV23-110).
o 22.6 m at 2.13% Li2O (230.6 m to 253.1 m), including 6.5 m at 3.44% Li2O (CV23-115).
o 23.8 m at 1.61% Li2O (307.8 m to 331.6 m) (CV23-116).
• Several core sample assays exceeding 6% Li2O returned, including 1.3 m at 6.53% Li2O (CV23-115)
• Core samples for twenty-seven (27) additional drill holes have arrived at the analytical lab (SGS).
• Six (6) core drilling rigs currently active at the CV5 Pegmatite.
Darren L. Smith, Company Vice President of Exploration, comments: “The first core sample assays of our winter
drill program have confirmed the extension of the high-grade Nova Zone to the east, including a 20 m intersection at
greater than 5% Li2O in CV23-105. The lithium grades found in this zone are very significant, and include a 3 - 25 m
thick (core length) band of greater than 5% Li2O over a significant strike length of 200+ m. The Company continues
to delineate the Nova Zone and the overall CV5 Pegmatite, which remains open along strike at both ends and to depth
along most of its length. The size of the CV5 Pegmatite has grown substantially through the winter drill program
completed to date, and the results announced today further affirms Corvette as a globally significant hard rock lithium
pegmatite project.”
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF)
(FSE: R9GA) is pleased to announce core assays for sixteen (16) holes completed as part of the 2023 winter drill
program currently underway at its wholly owned Corvette Property (the “Property”), located in the James Bay Region
of Quebec. The winter phase of the drill campaign is focused on the CV5 Pegmatite, located approximately 13.5 km
south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
The sixteen (16) drill holes (NQ core size – 47.6 mm inside diameter) reported herein targeted the eastward extension
of the high-grade Nova Zone (25.0 m at 5.04% Li2O in CV22-083) situated in the eastern area of the currently defined
CV5 Pegmatite (Figure 1) (see news release dated January 29, 2023) . The recent drilling is interpreted to have
extended this zone along strike by approximately 400 m, through high-grade mineralized intersections in drill holes
CV23-105 (83.7 m at 3.13% Li2O including 19.8 m at 5.28% Li2O), CV23-106 (11.2 m at 2.99% Li2O and 6.0 m
at 2.92% Li2O), CV23-107 (37.1 m at 2.09% Li2O or 3.0 m at 5.43% Li2O), and CV23-108 (26.6 m at 2.44% Li2O
or 5.0 m at 4.30% Li 2O). The Nova Zone has now been traced in multiple drill holes over a strike length of
approximately 750 m (CV22-017 to CV23 -108), with geological modelling suppo rting a continuous spodumene
mineralized zone of variable thickness, at grades of 2 - 5+% Li2O, occurring between vertical depths of approximately
125 to 325 m. The high-grade Nova Zone includes an extremely high-grade sub-zone that is an approximate 3 - 25 m
thick (core length) band of 5+% Li2O spodumene pegmatite that has been traced (at 100 m drill spacing) over
a minimum 200 m strike length between drill holes CV22-083, 093, and CV23-105.
The intersections in drill holes CV22-093 and CV23-105, located 100 m along strike of each other, illustrates the swell
and pinch nature of pegmatite intrusive systems. Drill hole CV22-093 returned an aggregate pegmatite intersection of
81 m, including a continuous intersection of 52 m, w hile drill hole CV23 -105 returned an aggregate pegmatite
intersection of 1 52 m, including a continuous intersection of 84 m. Additionally, grades returned in drill hole
CV23-109, which tested the pegmatite closer to surface above hole CV23 -105, illustrate how relatively low to
moderate grade lithium pegmatite (i.e., CV23-109 – 60.1 m at 0.23% Li 2O, including 6.5 m at 0.90% Li 2O) may be
located in close proximity to very high -grade lithium pegmatite (i.e., CV23-105 – 83.7 m at 3.13% Li 2O including
19.8 m at 5.28% Li 2O). Both of these attributes are typical of lithium pegmatite intrusions (swelling, pinching, and
zonation) and are applicable to the intersection in drill hole CV23 -125 (29.8 m at 0.14% Li 2O) marking the eastern
end of the current drilling to date, where, coupled with encouraging indicator mineralogy as is present, suggest strong
potential for the system to continue at favourable grades.
Six (6) drill rigs are actively coring at the CV5 Pegmatite and will continue to operate until approximately April 20th
where drilling activities will be paused as requested by the local communities to accommodate the goose harvesting
season. The exploration activities at Corvette will resume in late May for the summer -fall portion of the 2023 dril l
campaign. Drill core processing and sample shipments to the analytical lab (SGS) will continue without disruption.
The primary objectives of the 2023 drill campaign are to further delineate the extent of the CV5 Pegmatite culminating
in an initial mineral resource estimate scheduled for Q2 2023 , as well as infill drilling to refine the geological model
to achieve indicated mineral resource confidence to support a Pre-Feasibility Study. Based on drill holes completed
through March 20, 2023, the CV5 Pegmatite has now been traced continuously by drilling (at ~50-150 m spacing)
over a lateral distance of at least 3.15 km (CV22-074 to CV23-125), remaining open along strike at both ends
and to depth along most of its length.
Core samples for twenty-seven (27) additional drill holes have arrived at the analytical lab (SGS) with core processing
ongoing at site. Core sample assay results for the sixteen (16) drill holes reported herein are presented in Table 1. Drill
holes attributes were previously presented in Table 2 of news release dated March 23, 2023.
Table 1: Mineralized drill intercept summary for drill holes reported herein as part of the 202 3 winter program
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm) Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
CV23-105 96.7 100.7 4.0 0.28 141 CV23-112 125.9 131.2 5.2 0.73 66
104.0 114.7 10.7 0.88 192 205.7 239.4 33.7 0.25 243
222.7 306.4 83.7 3.13 235 CV23-113 Assays pending
Incl. 246.9 252.1 5.1 5.17 288 CV23-114 Assays pending
Incl. 276.0 299.8 23.8 4.99 263 CV23-115 198.0 214.8 16.9 1.34 139
or 280.0 299.8 19.8 5.28 283 230.6 253.1 22.6 2.13 204
310.2 321.7 11.5 0.41 125 Incl. 231.5 238.0 6.5 3.44 77
338.0 357.2 19.2 1.09 221 Incl. 249.7 251.0 1.3 6.53 79
366.4 386.7 20.3 1.28 170 288.7 293.9 5.3 0.69 623
CV23-106 155.2 161.0 5.8 0.72 82 301.3 325.1 23.8 0.90 328
274.1 406.3 132.2(3) 1.22 156 CV23-116 306.8 378.8 71.9 0.78 311
Incl. 274.1 285.3 11.2 2.99 70 Incl. 307.8 331.6 23.8 1.61 321
Incl. 300.9 306.9 6.0 2.92 374 CV23-117 188.9 200.3 11.4 1.79 222
CV23-107 195.0 198.4 3.4 0.73 101 281.4 283.4 2.1 0.03 132
293.2 358.6 65.4 1.30 305 CV23-118
Incl. 306.5 343.6 37.1 2.09 271 CV23-119 136.8 139.7 2.9 1.39 148
or 310.0 313.0 3.0 5.43 441 225.6 231.8 6.1 1.09 71
378.0 380.5 2.6 0.11 129 CV23-120 Assays pending
CV23-108 294.7 348.6 54.0 1.55 235 CV23-121 Assays pending
Incl. 306.9 333.5 26.6 2.44 274 CV23-122 199.8 203.2 3.4 0.03 142
or 317.5 322.5 5.0 4.30 260 251.2 260.9 9.7 2.00 67
CV23-109 91.9 94.5 2.6 0.02 252 CV23-123 104.0 107.2 3.2 1.34 159
164.5 224.6 60.1 0.23 258 190.9 201.3 10.4 1.09 110
Incl. 216.5 223.0 6.5 0.90 407 CV23-124
CV23-110 125.4 130.9 5.5 0.80 123 CV23-125 450.6 480.4 29.8 0.14 181
184.4 269.4 85.0 1.04 231 CV23-126 No pegmatite intersected
Incl. 185.4 224.8 39.4 1.51 177
390.1 392.4 2.4 0.72 101
CV23-111 156.1 159.1 3.1 1.33 132
227.7 235.7 8.0 0.47 224
253.4 262.0 8.6 0.55 85
Assays pending
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
Figure 1: Drill hole locations completed through March 20, 2023, at the CV5 Pegmatite
Figure 2: High-grade lithium pegmatite intersection in drill hole CV23-105 – 19.8 m at 5.28% Li2O (red box)
Figure 3: Spodumene in pegmatite from drill hole CV23-105 (top), and high-grade lithium pegmatite intersection in
drill hole CV23-115 (bottom) – 1.3 m at 6.53% Li2O (blue box)
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 an d spans
more than 25 -km across the Corvette Property. The core area includes an approximate 3.15 km long spodumene
pegmatite (the ‘CV5 Pegmatite’) and multiple proximal secondary spodumene pegmatite lenses. This corridor has
returned drill intercepts of 156.9 m at 2.12% Li 2O, including 25.0 m at 5.04% Li 2O or 5.0 m at 6.36% Li 2O
(CV22-083), 159.7 m a t 1.65% Li 2O (CV22-042), 131.2 m at 1.96% Li 2O (CV22-100), and 83.7 m at 3.13% Li 2O
including 19.8 m at 5.28% Li2O (CV23-105).
To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Property – CV5 Pegmatite and
associated lenses, CV4, CV8 -12, CV9, CV10, and the recently discovered 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 expo sure of a single, larger pegmatite ‘outcrop’ subsurface. Further, the 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 pegm atite 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.
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 100% owned Corvette Property, located proximal to t he Trans-Taiga Road and
powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium
potential highlighted by the 3.15 km long CV5 spodumene pegmatite with drill intercepts of 156.9 m at 2.12% Li 2O,
including 25.0 m at 5.04% Li 2O or 5.0 m at 6.36% Li 2O (CV22-083), 159.7 m at 1.65% Li 2O (CV22-042), 131.2 m
at 1.96% Li2O (CV22-100), and 83.7 m at 3.13% Li2O including 19.8 m at 5.28% Li2O (CV23-105). Additionally, the
Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 7 m at 10.5 g/t Au 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 wh ich hosts two
prospective gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 12 m at 4.11 g/t Au and
33.0 g/t Ag, 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 (604) 279 -8709, or visit
www.patriotbatterymetals.com. Please also refer to the Company’s continuous disclosure filings, available under its
profile at www.sedar.com and www.asx.com.au, for available exploration data.
This news release has been approved by 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, including without limitation statements with respect mineral resource
estimate and pre -feasibility report preparation . There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Company’s expectations include the
results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company
with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual
results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue
reliance on any forward -looking information. Such informatio n, although considered reasonable by management at
the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made as of the date of this news release and the
Company will update or revise publicly any of the included forward -looking statements as expressly required by
applicable law.
No securities regulatory authority or stock exchange has reviewed nor accepts responsibility for the adequacy or
accuracy of the content of this news release.