Patriot Extends Strike Length to 4.35 km at the CV5 Spodumene Pegmatite, 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 Extends Strike Length to 4.35 km at the CV5 Spodumene
Pegmatite, Corvette Property, Quebec, Canada
September 24, 2023 – Vancouver, BC, Canada September 25, 2023 – Sydney, Australia
Highlights
• Extension of the CV5 Spodumene Pegmatite by 650 m to the west.
o Multiple drill holes have returned continuous core -length spodumene pegmatite
intersections exceeding 30 m, and up to 56.8 m (drill hole CV23-231).
o Multiple drill holes have returned composited core -length pegmatite intersections
(i.e., sum of all pegmatite intervals within the hole) of over 90 m, to a peak of
approximately 144 m (CV23-223).
• The CV5 S podumene Pegmatite has now been traced continuously by drilling over a
lateral distance of at least 4.35 km and remains open.
• Fifty-three (53) drill holes, totalling approximately 15,614 m, have been completed through
September 18, 2023, at the Corvette Project.
o Thirty (30) holes (~10,757 m) completed at the CV5 Spodumene Pegmatite.
o Twenty (20) holes (~4,707 m) completed at the CV13 Spodumene Pegmatite.
o Three (3) holes (~150 m) completed at KM-270 camp site (for hydrogeology).
• Initial drill testing of the CV9 Spodumene Pegmatite cluster has recently commenced.
• Assays are currently pending, however with core sample shipments on a weekly basis it is
anticipated that assay results will start to be received later in October. With such a high
volume of samples from across multiple drill targets , the results will be collected and
released by area for clarity.
• A total of seven (7) drill rigs are currently active at site – four (4) at CV5, two (2) at CV13,
and one (1) at CV9. Drilling is anticipated to continue into December and will recommence
after the holidays with ten (10) drill rigs targeted by mid January 2024.
Figure 1: Drill holes completed at the CV5 Spodumene Pegmatite through September 18, 2023.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on 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 Property hosts the CV5
Spodumene Pegmatite, with a maiden 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.
Since the completion of the winter drill program in April 2023 (through drill hole CV23-190), and
the release of a maiden mineral resource estimate for the CV5 Spodumene Pegmatite (see news
release dated July 30, 2023), drilling at the Property has focused on westerly step-outs and further
delineation at CV5 (30 holes totalling ~ 10,757 m), as well as continued delineation at the CV13
Spodumene Pegmatite (20 holes totalling ~4,707 m).
The Company is pleased to report that through September 18, 2023, the summer drill program at
CV5 has extended the spodumene pegmatite an additional 0.65 km along strike to the west.
The CV5 Spodumene Pegmatite has now been traced continuously by drilling (at approximately
50 to 150 m spacing) over a lateral distance of at least 4.35 km and remains open along strike
at both ends and to depth along most of its length ( Figure 1, Figure 2, and Figure 3). Over this
extension, multiple drill holes have returned continuous core-length spodumene pegmatite
intersections exceeding 30 m, and up to 56.8 m (drill hole CV23-231) (see Table 1 and Table 2).
Further, multiple drill holes over this westerly extension have returned composited core-
length pegmatite intersections (i.e., sum of all pegmatite intervals within the hole) of over 90 m,
to a peak of approximately 144 m (CV23-223), including an unexpected and sizable (50.2 m)
continuous mineralized pegmatite intersection at depth in drill hole CV23-223. This intersection,
coupled with those from other drill holes completed over the western extension of CV5, indicates
that the principal pegmatite is bifurcating into two significantly thick spodumene pegmatites
lenses.
The CV5 Spodumene Pegmatite has now been traced by drilling to within 3.15 km of the CV13
Spodumene Pegmatite (Figure 4). Further, mineralogy and textures in drill core, coupled with
geophysics and geomorphology of the area as inferred from LiDAR and orthophoto data, suggests
that that the CV5 and CV13 spodumene pegmatites form one continuous pegmatite body
subsurface. However, a significant amount of drill testing remains to be completed along this
corridor to confirm this interpretation.
An infill drill hole at CV5, completed primarily for hydrogeological purposes (CV23-199),
returned the thickest interval of pegmatite (dominantly spodumene pegmatite) to date at the Project
(Figure 2) . This hole returned a near -continuous pegmatite interval of 178.2 m (core length) ,
including only 4.3 m of non-pegmatite internal dilution spread over four (4) discreet intervals. This
hole was completed as a vertical hole and therefore more oblique to the dip of the CV5 Spodumene
Pegmatite than is typical. True width of the pegmatite in this area of drill hole CV23 -199 is
estimated to approximate 125 m at a depth of 125 m. Assays are currently pending.
At the CV13 Spodumene Pegmatite, the summer -fall drilling has successfully delineated a
continuous pegmatite dyke that has now been traced between three (3) of the four (4) areas initially
drill tested in 2022 (Figure 5). The CV13 Spodumene Pegmatite trend extends for approximately
2.3 km as defined by outcrop and drilling in 2022 . The drill holes completed in 2023 along this
trend at CV13 have now confirmed a continuous, variably mineralized spodumene pegmatite
extending along at least 1.1 km of this trend and remains open.
This principal dyke at CV13 (the “upper” dyke) is geologically modelled to be shallowly dipping
to the north and remains open at depth and along strike. Core length pegmatite intersections of
the upper dyke range up to 21.9 m over the twenty (20) drill holes (~4,707 m) completed in 2023
through September 18 (Table 1). A “ lower”, more variably mineralized shallow and northerly
dipping pegmatite dyke present at CV13 has been tested in multiple drill holes in 2023; however,
remains of secondary focus at this time.
With the unprecedented season of wildfires expected to be behind us, the Company has continued
to ramp up its operations at the Project. A total of seven (7) drill rigs are currently active at site –
four (4) at CV5, two (2) at CV13, and one (1) at CV9. In support of continued exploration ramp
up, the KM-270 exploration camp is actively under construction with the primary accommodation
modules now on site and installation underway. Additionally, the conversion of the winter road
route to an all -season exploration road is continuing to advance. Both the camp and road are
anticipated to be operational mid fall with the Company planning on continuing drilling operations
into December. Following a much-deserved break for the holidays, activities will recommence in
mid January 2024, where the Company intends to ramp up to at least ten (10) drill rigs at site.
Due to the road closures in western parts of the Eeyou Istchee James Bay extending significantly
past the date in which the Company was able to re-commence drill operations at the Property, the
delivery of drill core samples to the laboratory was significantly delayed. However, core samples
for a large number of drill holes have now arrived at the laboratory with processing underway.
Results will be reported as received.
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.
Figure 2: Drill holes completed at the CV5 Spodumene Pegmatite through September 18, 2023 – western
area.
Figure 3: Drill holes completed at the CV5 Spodumene Pegmatite through September 18, 2023 – east-
central, and eastern areas.
Figure 4: Proximity of the CV5 Spodumene Pegmatite to the CV13 Spodumene Pegmatite.
Figure 5: Drill holes completed at the CV13 Spodumene Pegmatite through September 18, 2023 – east-
central, and eastern areas.