Patriot Extends Strike of the CV5 Pegmatite, Drills 34.2 m at 1.06% Li2O in Step-Out Hole and 11.6 m at 3.25% Li2O in Infill Hole, Quebec, Canada
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
Patriot Extends Strike of the CV5 Pegmatite, Drills 34.2 m at
1.06% Li2O in Step-Out Hole and 11.6 m at 3.25% Li2O in Infill
Hole, Quebec, Canada
February 6, 2024 – Vancouver, BC, Canada February 7, 2024 – Sydney, Australia
Highlights
• The CV5 Spodumene Pegmatite has now been traced over a 4.4 km strike length and
remains open along strike at both ends and to depth – results of 2023 drill holes for an
additional 0.2 km of prospective strike length remain to be reported.
• In addition to infill, further step -out drilling is planned at the CV5 Spodumene Pegmatite
as part of the 2024 winter program currently underway at the Property . Approximately
3 km of highly prospective geological trend remains to be drill tested between the CV5 and
CV13 pegmatites.
• Strong grades continue to be returned over the western extension and outside of the June
2023 mineral resource estimate at CV5:
o 34.2 m at 1.06% Li2O, including 14.2 m at 1.83% Li2O (CV23-236).
o 27.7 m at 1.20% Li2O and 7.2 m at 1.27% Li2O (CV23-243).
o 10.2 m at 1.47% Li2O and 6.7 m at 2.27% Li2O (CV23-259).
• Strong infill drill results, including very high grades, returned outside of the Nova Zone.
o 89.5 m at 1.01% Li2O, 17.9 m at 1.31% Li2O, and 19.0 m at 2.56% Li2O,
including 11.6 m at 3.25% Li2O (CV23-246).
o 37.2 m at 1.02% Li2O (CV23-251).
• The most eastern line of holes completed to date at CV5 returned a well mineralized
interval of 36 .0 m at 1.36% Li 2O, including 17.0 m at 2.31% Li 2O (CV23-165) – see
news release dated July 10, 2023 – indicating significant potential remains in this area
outside of the June 2023 mineral resource estimate. Several drill holes are planned during
the ongoing winter 2024 program to further delineate this area.
• Assays are reported herein for 12 drill holes completed in 2023 at the CV 5 Spodumene
Pegmatite.
• Results for 35 holes at the CV13 Pegmatite, 42 holes at the CV5 Pegmatite, and 18 holes
at the CV9 Pegmatite , from the 2023 drill program remain to be reported, and will be
released to the market in accordance with the Company’s usual processes.
Figure 1: Drill holes completed through 2023 at CV5 Spodumene Pegmatite.
Figure 2: Cross-section of the CV5 Spodumene Pegmatite’s geological model along its western extension,
outside of the June 2023 mineral resource estimate.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce additional drill results from the 2023
program completed at the CV 5 Spodumene Pegmatite at the Corvette Property. The Corvette
Property (the “Property” or “Project”), wholly owned by the Company, is 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 and is currently
accessible by winter road.
Drill results for 12 drill holes completed in 2023 at the CV5 Spodumene Pegmatite are reported
herein (Figure 1). These holes primarily target the western extension of CV5 (CV23-236, 243,
248, 259, and 268), as well as resource infill to improve the confidence of the geological model to
support an upgrade of mineral resource s from the inferred category to the indicated category
(CV23-246, 251, and 256). Several holes were also completed over the eastern, near-surface areas
of CV5 to test for an up-dip extension of the principal pegmatite body to surface (CV23-244, 252,
and 260), as well as a hydrogeology hole (CV23- 262) situated immediately south of CV5 and
within the conceptual open-pit.
Drilling over the western extension was very successful and confirms well-mineralized spodumene
pegmatite at CV5 continues along strike westwardly with results including:
• 34.2 m at 1.06% Li2O, including 14.2 m at 1.83% Li2O (CV23-236),
• 27.7 m at 1.20% Li2O and 7.2 m at 1.27% Li2O (CV23-243), and
• 10.2 m at 1.47% Li2O and 6.7 m at 2.27% Li2O (CV23-259).
A geological cross -section of the western extension along drill holes CV23 -236 and 243 is
presented in Figure 2. These mineralized drill intercepts confirm an extension of the CV5
Pegmatite’s strike length to 4.4 km, with results from drill holes completed in 2023 for an
additional 0.2 km of highly prospective strike length yet to be reported.
Drill holes targeting mineral resource infill also returned significant results highlighted by:
• An aggregate collective pegmatite interval of 134 m in drill hole CV23-246 – core assay
results of 89.5 m at 1.01% Li 2O, 17.9 m at 1.31% Li 2O, 19.0 m at 2.56% Li 2O,
including 11.6 m at 3.25% Li2O, and 7.4 m at 0.82% Li2O.
• 37.2 m at 1.02% Li2O (CV23-251), and
• 11.3 m at 1.54% Li2O (CV23-256).
Drilling over the eastern areas of CV5 with the objective of tracing the pegmatite to surface ,
partially outside of the 2023 mineral resource estimate block model, was met with limited success.
Drill holes CV23-244, 252, and 260 intersected only minor pegmatite intervals (<2 m) in this area.
Current interpretation indicates the pegmatite may be plunging in this area and variably flares to
surface, while remaining open along strike and at depth.
The eastern portion of the CV5 Spodumene Pegmatite did not fall within the recent June 2023
maiden mineral resource estimate partially due to lack of drill density. However, the most eastern
line of holes completed to date returned a well mineralized interval of 36 .0 m at 1.36% Li 2O,
including 17.0 m at 2.31% Li2O (CV23-165) indicating significant potential remains in this area.
Several drill holes are planned during the ongoing winter 2024 program to further delineate this
area.
In addition to infill, further step- out drilling is planned at the CV5 Spodumene Pegmatite as part
of the 2024 winter program currently underway at the Property. Approximately 3 km of highly
prospective geological trend remains to be drill tested between the CV5 and CV13 pegmatites
(Figure 3).
Core sample assays for drill holes reported herein are presented in Table 1 for all pegmatite
intersections >2 m. Drill hole locations and attributes are presented in Table 2. For drill holes
completed in 2023, results remain to be reported for the CV13 Pegmatite (35 holes), the CV5
Pegmatite (42 holes), and the CV9 Pegmatite (18 holes). The Company has completed the on-site
processing of the drill core backlog from the 2023 program with all samples now at the lab.
Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite
Table 2: Attributes 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
CV23-236 28.4 62.5 34.2 1.06 79 CV23-248 96.1 101.9 5.8 1.08 1,151
Incl. 44.0 58.2 14.2 1.83 80 CV23-251 40.7 77.9 37.2 1.02 170
64.4 68.5 4.1 0.03 98 CV23-252 No >2 m pegmatite intersections
217.6 224.7 7.2 0.81 174 CV23-256 43.2 54.5 11.3 1.54 104
CV23-240 Previously reported CV23-259 79.3 81.8 2.5 0.91 292
CV23-241 Previously reported 111.8 121.9 10.2 1.47 967
CV23-243 30.2 61.8 31.7 0.23 89 272.6 274.8 2.2 0.89 451
64.2 71.4 7.2 1.27 174 277.6 281.1 3.4 0.01 131
74.9 82.6 7.6 1.15 246 293.2 300.0 6.7 2.27 67
254.3 261.2 6.9 0.59 180 CV23-260 No >2 m pegmatite intersections
268.4 296.1 27.7 1.20 171 CV23-262 No pegmatite intersected Hydrogeology hole
CV23-244 No >2 m pegmatite intersections CV23-265 63.8 74.1 10.3 Assays pending
CV23-246 16.3 105.8 89.5 1.01 177 Hydrogeology hole CV23-268 85.2 95.7 10.4 0.30 998
109.3 116.8 7.4 0.82 195 249.5 255.0 5.5 1.33 95
151.5 170.4 19.0 2.56 187
Incl. 156.0 167.7 11.6 3.25 223
266.8 284.6 17.9 1.31 103
(1) All intervals are core length and presented for all pegmatite intervals >2 m. Geological
modelling is ongoing; (2) Collared in pegmatite; (3) Includes minor intervals of non-
pegmatite units (typically <3 m)
Hole ID Substrate Total Depth (m) Azimuth (°) Dip (°) Easting Northing Elevation (m) Core Size Cluster Comments
CV23-236 Land 383.1 158 -45 568615.9 5930016.6 387.6 NQ CV5
CV23-243 Land 395.0 158 -65 568615.8 5930017.1 3 87.4 NQ CV5
CV23-244 Water 313.0 158 -45 572125.2 5931345.5 372.9 NQ CV5
CV23-246 Land 431.0 0 -90 570215.1 5930649.7 382.3 NQ CV5 Hydrogeology hole
CV23-248 Land 466.1 158 -65 568636.9 5930100.4 391.6 NQ CV5
CV23-251 Water 160.9 158 -45 570938.7 5930950.0 373.2 NQ CV5
CV23-252 Water 281.0 158 -45 572214.3 5931370.1 372.2 NQ CV5
CV23-256 Water 296.2 158 -45 571043.3 5930964.1 372.1 NQ CV5
CV23-259 Land 383.0 158 -45 568550.1 5930065.0 393.5 NQ CV5
CV23-260 Water 260.0 158 -45 572336.8 5931379.7 372.1 NQ CV5
CV23-262 Land 245.1 0 -90 571313.5 5930901.0 377.6 NQ CV5 Hydrogeology hole
CV23-268 Land 417.6 158 -65 568550.3 5930064.6 393.4 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
Figure 3: Corridor remaining to be drill tested between the CV5 & CV13 spodumene pegmatites.
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. Largest in the
Americas based on contained LCE.
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%. Additionally, 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 w ere 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 Corvette Property. The core
area includes the approximate 4.4 km long CV5 S podumene 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 Corvette
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.
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
Ore Reserves (the JORC Code). 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 hard -rock lithium exploration company focused on advancing its
district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of
Quebec, Canada, and proximal to regional road and powerline infrastructure. The Corvette
Property hosts the CV5 Spodumene Pegmatite with a maiden mineral resource estimate of
109.2 Mt at 1.42% Li 2O inferred 1 and ranks as the largest lithium pegmatite resource in the
Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest
lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other
spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of
prospective trend that remains to be assessed.
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2O and 160 ppm Ta 2O5 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.
For further information, please contact us at [email protected] or by calling +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.sedarplus.ca and www.asx.com.au, for
available exploration data.
This news release has been approved by the Board of Directors.
“KEN BRINSDEN”
Kenneth Brinsden, President, CEO, & Managing Director
Brad Seward
Vice President, Investor Relations
T: +61 400 199 471
Olivier Caza-Lapointe
Head, Investor Relations – North America
T: +1 (514) 913-5264
Disclaimer for Forward-looking Information
This news release contains “forward -looking information” or “forward-looking statements” within the
meaning of applicable securities laws and other statements that are not historical facts. Forward-looking
statements are included to provide information about management’s current expectations and plans that
allows investors and others to have a better understanding of the Company’s business plans and financial
performance and condition.
All statements, other than statements of historical fact included in this news release, regarding the
Company’s strategy, future operations, technical assessments, prospects, plans and objectives of
management are forward -looking statements that involve risks and uncertainties. Forward -looking
statements are typically identified by words such as “plan”, “expect”, “estimate”, “intend”, “anticipate”,
“believe”, or variations of such words and phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In particular and without
limitation, this news release contains forward-looking statements pertaining to the 2024 winter program
currently underway at the Corvette Property, the release of additional results from the 2023 drill program,
predictions of a single, larger pegmatite “outcrop” subsurface, and prospective beliefs about the strike
length remaining to be reported.
Forward-looking information is based upon certain assumptions and other important factors that, if untrue,
could cause the actual results, performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such information or statements. There
can be no assurance that such information or statements will prove to be accurate. Key assumptions upon
which the Company’s forward-looking information is based include the total funding required to complete
the development of the Company’s lithium mineral project at the Corvette Property.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may
have been used. Forward -looking statements are also subject to risks and uncertainties facing the
Company’s business, any of which could have a material adverse effect on the Company’s business,
financial condition, results of operations and growth prospects. Some of the risks the Company faces and
the uncertainties that could cause actual results to differ materially from those expressed in the forward -
looking statements include, among others, the ability to execute on plans relating to the Company’s