Patriot Drills Widest Mineralized Pegmatite Intersection to Date at the 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 Widest Mineralized Pegmatite Intersection to Date at
the Corvette Property, Quebec, Canada
November 12, 2023 – Vancouver, BC, Canada November 13, 2023 – Sydney, Australia
Highlights
• Widest mineralized drill intersection to date at the Corvette Property, returned from
infill drilling:
o 172.4 m at 0.93% Li 2O, including 34.5 m at 1.85% Li 2O and 26.1 m at
1.81% Li2O (CV23-199).
• Assays for the first series of holes completed over the recently announced western
extension at CV5 have returned well-mineralized drill intersection s, situated outside
of the June 2023 mineral resource estimate1 (see news release dated July 30, 2023).
o 46.3 m at 1.20% Li2O and 34.8 m at 1.59% Li2O (CV23-209)
o 28.8 m at 1.63% Li2O, including 13.0 m at 2.19% Li2O (CV23-208)
o 17.0 m at 1.10% Li2O, 16.3 m at 0.99% Li2O, and 9.3 m at 2.55% Li2O (CV23-201)
o 18.7 m at 1.52% Li2O (CV23-205)
• Drilling at the Corvette Property will be paused shortly through to early January due to the
onset of winter conditions. Core processing will continue into December, with an organized
ramp up to ten (10) drill rigs beginning early January 2024.
• Summary drill program updates for all holes completed over the summer -fall program at
the CV5, CV13, and CV9 spodumene pegmatites will be announced over the coming weeks
and include hole locations and attributes, and pegmatite intervals.
• Core sample assays for thirteen (13) drill holes from CV5 are reported herein. Core sample
assays remain to be announced for more than 140 drill holes from the summer-fall program.
Blair Way, Company Director, President, and CEO, comments: “The Corvette Property continues
to deliver, with our widest intercept to date . Returned core sample assays indicating wide and
high-grade pegmatite intercepts continue to be returned at CV5. The initial core assay results for
the drill holes over the recently announced western extension at CV5 continue to demonstrate that
high grades over material widths are present over a more than 4 km strike length. We would also
like to thank our shareholders for their patience with reporting of analytical results this summer-
fall. The wildfires prevented shipping of samples to the laboratory for much of the summer , and
also impacted the restart of laboratories after the wildfires. The situation is improving, and assays
are flowing more regularly from the laboratory. We will continue to announce results in batches
to ensure clarity of locations to readers.”
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 first series of drill
holes completed at the CV5 Spodumene Pegmatite as part of the ongoing 2023 summer-fall drill
program being completed at its wholly owned Corvette Property (the “Property” or “Project”),
located in the Eeyou Istchee James Bay region of Quebec. The CV5 Spodumene Pegmatite, with
a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1, is situated approximately
13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
Core assay results from the first series of drill holes completed this year at the CV 5 Spodumene
Pegmatite (13 holes in total) are reported herein. These include drill holes completed for resource
infill (i.e., to improve resource confidence from the inferred category to the indicated category) ,
hydrogeological model support, as well as those completed over the recently announced western
extension (see news release dated September 24, 2023 ). Analytical results for all holes reported
herein for pegmatite intervals >2 m are presented in Table 1 and drill attributes in Table 2.
Figure 1: Drill holes completed at the CV5 Spodumene Pegmatite as announced September 24, 2023.
Recently Announced 650 m Western Extension at CV5
Core assay results are announced herein for seven (7) drill holes comp leted over the recently
announced western extension at CV5 (see news release dated September 24, 2023). This series of
holes represent approximately 500 m of the 650 m of new strike length (which remains open) and
are not included in the June 2023 mineral resource estimate for CV5 (see news release dated July
30, 2023). T hese drill holes tested various depths from surface and confirm high grades of lithium
continue in this direction (Figure 1 and Figure 2). A core photo of a well-mineralized interval from
CV23-209 is presented in Figure 5. Results include:
• 46.3 m at 1.20% Li2O and 34.8 m at 1.59% Li2O (CV23-209),
• 28.8 m at 1.63% Li2O, including 13.0 m at 2.19% Li2O (CV23-208),
• 17.0 m at 1.10% Li2O, 16.3 m at 0.99% Li2O, and 9.3 m at 2.55% Li2O (CV23-201), and
• 18.7 m at 1.52% Li2O (CV23-205).
This initial batch of core assays returned from drill holes over the western extension supports that
the interpreted bifurcation of the CV5 Pegmatite’s principal dyke, into two (2) distinct dykes
moving westerly, remains well-mineralized along each. For example, drill hole CV23-208 returned
7.6 m at 2.64% Li2O, including 5.1 m at 3.50% Li2O in one dyke, and 28.8 m at 1.63% Li 2O,
including 13.0 m at 2.19% Li2O in the other.
Figure 2: Drill holes completed at the CV5 Spodumene Pegmatite as announced September 24, 2023. –
western area.
Infill Drilling at CV5
Drill hole CV23-199, primarily planned and completed as a hydrogeological hole, also doubled as
a mineral resource infill hole for CV5 and returned the widest mineralized drill intersection to date
on the Property at the CV5 Spodumene Pegmatite – 172.4 m at 0.93% Li2O, including 34.5 m at
1.85% Li 2O and 26.1 m at 1.81% Li 2O (Figure 1, Figure 2, and Figure 3). The 172.4 m
intersection is comprised of a near-continuous pegmatite interval with only 1.8 m of non-pegmatite
dilution. A core photo of a well-mineralized interval from CV23-199 is presented in Figure 4.
Since CV23-199 was designed as a vertical hole, it is more oblique to the dip of CV5 Pegmatite’s
principal dyke than is typical. True width of the pegmatite in th e area of drill hole CV23 -199 is
estimated to approximate 125 m at a depth of 125 m.
Hydrogeological results to date at CV5 have not shown anything of concern. The initial field test
program is now complete, which included multiple drill holes and observation wells in and around
the deposit, permeability tests , and water level measurements . The hydrogeological numerical
model and a preliminary report are now being prepared.
Although multiple land -based drill holes targeting resource infill have been completed over the
summer-fall program, the majority of the infill drilling to date has focused on barge-based drilling
over the shallow glacial lake, which covers a portion of the deposit. These holes targeted locations
where ice formation in winter may not be sufficient to s upport ice-based drilling. Core sample
assays results are pending for these holes.
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
CV23-193 86.9 91.3 4.5 0.04 112 CV23-205 79.8 92.0 12.2 1.51 124
96.8 115.7 18.9 0.43 99 Incl. 82.9 88.9 6.0 2.68 99
117.9 121.7 3.8 0.04 110 120.9 123.0 2.1 0.02 75
161.9 165.8 3.9 0.64 139 146.2 148.6 2.4 0.04 100
CV23-194 9.4 12.5 3.1 0.00 8 Hydrogeology hole 209.1 227.9 18.7 1.52 173
CV23-196 61.1 66.9 5.8 0.27 88 Incl. 211.6 215.0 3.4 3.10 75
96.7 99.0 2.3 0.10 0 CV23-208 91.8 99.4 7.6 2.64 411
CV23-197 No >2 m pegmatite intersections incl. 92.5 97.5 5.1 3.50 584
CV23-199 12.0 184.3 172.4(3) 0.93 121 Hydrogeology hole 180.5 191.8 11.3(3) 0.98 256
Incl. 73.1 99.2 26.1 1.81 222 196.9 225.7 28.8(3) 1.63 164
Incl. 149.1 183.5 34.5 1.85 121 incl. 196.9 209.9 13.0 2.19 154
185.4 188.2 2.8 0.02 109 CV23-209 125.0 127.5 2.5 0.03 175
CV23-201 89.0 102.9 13.9 1.10 181 217.3 263.6 46.3(3) 1.20 178
104.1 107.1 3.0 0.19 280 275.0 279.3 4.3 2.49 199
133.1 136.0 2.9 0.12 68 284.0 300.2 16.3 0.98 187
152.4 158.3 5.9 0.14 124 326.2 331.9 5.7 0.12 165
166.6 175.8 9.3 2.55 306 337.0 371.8 34.8 1.59 209
Incl. 168.1 174.7 6.6 3.52 304 CV23-212 135.4 141.8 6.4 1.78 106
176.5 180.7 4.2 0.03 265 CV23-214 No >2 m pegmatite intersections
187.3 190.8 3.6 0.01 202 CV23-217 81.0 94.7 13.7 1.18 46
200.4 216.6 16.3 0.99 165 Incl. 82.5 91.1 8.6 1.70 44
225.7 239.1 13.4 0.18 236 291.7 298.6 6.9 1.26 101
248.5 251.2 2.7 1.34 320
262.4 279.4 17.0 1.10 227
CV23-203 110.8 127.3 16.5 0.87 145
Incl. 112.5 125.2 12.7 1.09 171
129.9 132.8 2.9 1.04 131
133.8 138.3 4.5 1.20 352
(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 a for Project.
Significant Drilling and Assays Results to Come
Drilling at the Property is anticipated to be paused shortly due to the onset of winter conditions .
Work continues on the completion of the Company’s exploration camp and all-season exploration
access road to the CV5 Pegmatite . Core processing will continue into December, with a planned
ramp up to ten (10) drill rigs beginning in early January 2024. The Company’s exploration camp
and all-season exploration access road to CV5 are anticipated to be completed this fall , ahead of
the commencement of the 2024 drill program.
As announced September 24, 2023, the CV5 Spodumene Pegmatite has been traced continuously
by drilling over a lateral distance of at least 4.35 km and remains open. Summary drill program
updates for all holes completed over the 2023 summer-fall program at the CV5, CV13, and CV9
spodumene pegmatites will be announced over the coming weeks and will include hole locations
and attributes, as well as listings of all core- length pegmatite intervals greater than 2 m. Through
November 9, 2023, over the summer-fall program, approximately 42,900 m (166 holes) have been
completed. This includes 25,200 m (78 holes) at CV5, 13,700 m (70 holes) at CV13, and 4,000 m
(18 holes) at CV9.
Core assays for thirteen (13) drill holes from CV5 are reported herein. Core sample assays remain
to be announced for more than 1 40 drill holes completed over the 2023 summer-fall program.
The forest fires and road closures in western parts of the Eeyou Istchee James Bay significantly
impacted the summer drill season with access prevented for almost 10 weeks. The Company was
able to re-commence drill operations at the Property in August; however, sample shipments to the
lab were not able to be resumed until several weeks later due to the continued road closures at the
time. Core samples from a large number of drill holes have now arrived at the laboratory with
processing underway, and shipments are now back to their regular weekly schedule . Results are
anticipated to be reported in batches per pegmatite (CV5, CV13, and CV9) as received.
Figure 3: Drill holes completed at the CV5 Spodumene Pegmatite as announced September 24, 2023 –
east-central, and eastern areas.
Figure 4: Well mineralized spodumene pegmatite drill core grading ~2.6% Li2O from hole CV23-199
Figure 5: Well mineralized spodumene pegmatite drill core grading ~2.0% Li2O from hole CV23-209
(western extension)
Table 2: Attributes for drill holes reported herein at the CV5 Spodumene Pegmatite
Hole ID Substrate Total Depth (m) Azimuth (°) Dip (°) Easting Northing Elevation (m) Core Size Cluster Comments
CV23-193 Land 250.9 0 -90 569597.2 5930276.2 381.2 NQ CV5
CV23-194 Land 282.0 0 -90 570802.4 5930731.5 382.1 NQ CV5 Hydrogeology hole
CV23-196 Land 263.0 158 -45 569599.0 5930272.7 381.3 NQ CV5
CV23-197 Land 254.0 158 -45 570803.1 5930728.3 382.0 NQ CV5
CV23-199 Land 261.1 0 -90 570473.2 5930744.8 376.9 NQ CV5 Hydrogeology hole
CV23-201 Land 385.8 158 -45 569015.1 5930242.6 390.3 NQ CV5
CV23-203 Land 374.0 158 -45 569121.0 5930244.3 396.1 NQ CV5
CV23-205 Land 353.0 158 -60 569015.0 5930242.8 390.2 NQ CV5
CV23-208 Land 368.0 158 -45 568937.2 5930165.2 391.0 NQ CV5
CV23-209 Land 434.0 158 -45 569043.4 5930314.1 384.9 NQ CV5
CV23-212 Water 296.0 158 -45 571736.6 5931251.3 372.7 NQ CV5
CV23-214 Land 502.1 158 -55 569043.3 5930314.3 384.7 NQ CV5
CV23-217 Land 329.0 158 -45 568751.3 5930093.9 390.0 NQ CV5
(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; (4) 'Hydrogeology holes' completed to support a hydrogeological model for Project.
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.
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%. Addit ionally, 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 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 is interpreted to span more than 50 kilometres across the Property. The core area
includes the approximate 4.35 km long CV5 Spodumene 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 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. Further, the high number of well -mineralized pegmatites along the trend indicate a
strong potential for a series of relatively closely spac ed/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 - 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