Patriot Maintains Exploration & Development Momentum at Corvette with Extensive Summer-Fall Workplan
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 Maintains Exploration & Development Momentum at
Corvette with Extensive Summer-Fall Workplan
June 26, 2024 – Vancouver, BC, Canada June 27, 2024 – Sydney, Australia
Highlights
• 2024 Summer-Fall exploration program commences at Corvette:
o Two exploration rigs operating at the CV13 Pegmatite, primarily undertaking step-
out drilling targeting extensions of the recently discovered high-grade Vega Zone.
o Two drill rigs collecting geotechnical and hydrogeological information to support
advanced development and economic studies through feasibility.
o Surface exploration activities underway, including detailed mapping at CV5 and
CV13, channel sampling, and prospecting of prospective trends.
• Additional rigs to be added starting in early July, focused on continued infill and
geomechanical drilling at the CV5 Pegmatite.
• Successful commissioning of a 100% -owned exploration camp proximal to the Property
and all-season road access from the camp to the CV5 Pegmatite, reducing travel time and
significantly increasing exploration efficiency and cost effectiveness.
o Building on the successful relationship with the Cree, the new camp facilities have
adopted the name Shaakichiuwaanaan Camp.
• Environmental baseline data collection is being undertaken in partnership with First
Nations, representing a key milestone in progressing the Environmental and Social Impact
Assessment (ESIA), due for submission in September 2025.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on the 2024 Summer -Fall
exploration and development programs at its 100%-owned Corvette Property (the “Property” or
“Project”) located in the Eeyou Istchee James Bay region of Quebec. The Project, which hosts the
CV5 Spodumene Pegmatite with a maiden M ineral Resource Estimate (“MRE”) of 109.2 Mt at
1.42% Li 2O Inferred1, is situated approximately 13.5 km south of the regional and all ‑weather
Trans-Taiga Road and powerline infrastructure.
This multi -pronged and multi drill rig field work program has been designed to support the
continued exploration and development of the Corvette Project . Work is anticipated to include
step-out drilling at the recently discovered Vega Zone at the CV13 Pegmatite, infill drilling at the
CV5 Pegmatite, as well as surface mapping and prospecting.
Additionally, significant environmental baseline data collection will continue to build on previous
years in support of an Environmental and Social Impact Assessment (ESIA ) submission for the
Project, which is on schedule for September 2025
Summer-Fall Exploration Program Underway
CV13 Pegmatite (Vega Zone)
The 2024 Summer-Fall exploration program has commenced with two drill rigs now testing the
recently discovered Vega Zone at the CV13 Pegmatite (see news release dated June 10, 2024 ).
The objective of the program is to further expand and delineate the recently discovered high -
grade mineralization at Vega . Approximately 10,000 m of drilling is under consideration this
summer-fall targetting the CV13 Spodumene Pegmatite and immediate corridor towards the CV5
Spodumene Pegmatite.
Because the Vega Zone was discovered in the final days of the 2024 winter program, only limited
follow-up drilling has been completed. Results to date include 34.4 m at 2.90% Li2O (CV24-470),
and 33.4 m at 2.40% Li 2O, including 1.7 m at 7.01% Li 2O ( CV24-507). The high -grade
mineralization is relatively flat -lying to shallow dipping and remains open in multiple directions,
with the results of multiple step-out holes remaining to be reported.
CV5 Pegmatite
Infill drilling at the CV5 Pegmatite is scheduled to resume in early July and will continue through
late September. Several drill rigs will be deployed to support an increase in MRE confidence from
the Inferred category to the Indicated category . This drilling will target Inferred blocks as
categorized in the pending MRE update, with the ultimate objective of delineating a coherent body
of Indicated Mineral Resource blocks to underpin a Feasibility Study scheduled for the second half
of 2025.
The Company anticipates adding an additional rig in August to undertake geomechanical drilling at
CV5 to support advanced open-pit design . These drill holes will be completed at various
orientations proximal to CV5 and the conceptual pit, and will target specific host rock types and
structure, with optical and acoustics televiewer data to also be collected.
Additionally, several fences of drilling are planned across the conceptual open-pit to test for
mineralized pegmatite where waste rock has been modelled due to a lack of drill data.
In addition to the resource drilling, a n expansive hydrogeological and geotechnical drill program
commenced on site in early June. The program includes approximately 5 6 drill holes of various
size (NQ, HQ, PQ, and 6 inch), design, and depth.
The geotechnical drilling will test rock and overburden characteristics at various proposed
infrastructure locations to support the development of the Project. This includes areas for the
proposed mine camp, waste rock piles, process plant, and other ancillary infrastructure.
The hydrogeological drill program will include the installation of monitoring wells and down-hole
equipment, as well as packer testing (Figure 1) within the conceptual open-pit and other proposed
infrastructure locations. Additionally, three large diameter drill holes will be completed (two 6
inch and one PQ) in the CV5 area to conduct long-duration pumping tests for operational water
supply and pit dewatering design. The data will further refine the preliminary hydrogeological
model for CV5 developed in 2023.
Figure 1: Site of drill hole CV24 -537, situated north of CV5, completed for geotechnical purposes and
monitoring well installation.
An updated MRE for the Corvette Project, incorporating all drilling through April 2024, is
scheduled for release in August 2024. This update will include both the CV5 and CV13 spodumene
pegmatites underpinning a consolidated Mineral Resource statement for the Corvette Project.
Surface exploration began in late May and will include detailed geological mapping at CV5 and
CV13, in addition to channel sampling of pegmatite outcrop. Channel samples may effectively
approximate a “horizontal drill hole”, thereby further constraining the geological model at surface
with robust sample data.
Baseline Environmental Data Collection to Support the ESIA
In order to facilitate the completion of the Environment and Social Impact Assessment (ESIA), due
for submission to the regulators in September 2025, the Company is continuing baseline
environmental data gathering at the Corvette Project throughout the year (Figure 2).
Baseline environment data collection is being completed in partnership with local First Nations.
Key areas of focus include vegetation, wildlife, and fish. Field studies are designed to meet the
Project guidelines issued by the government of Quebec in April 2024. R eports on the field work
will be completed in June 2025 and will inform the placement of Project infrastructure, the
assessment of potential impacts, and the development of environmental mitigation measures.
Figure 2: Gantt chart of Environmental baseline work completed to date and planned to support the
submission of the ESIA.
Shaakichiuwaanaan Exploration Camp Phase One Completed
The Company has completed the first phase of its 100% -owned exploration camp at Corvette,
with a capacity of 80 persons , which supported the majority of its activities over the recently
completed winter program (Figure 3). This camp is currently being expanded to facilitate
accommodation for up to 150 persons and is anticipated to be operational later in the year.
Additional utilities infrastructure is being installed over the coming months to ensure that this
camp can be the sole operational cent re for all activities at the Corvette Project. The camp area
includes provision for accommodation, office facilities, a workshop for contractors , and a core
processing building inclusive of on-site core storage.
The new Shaakichiuwaanaan Camp is located closer to site than the previously utilized privately
owned camp (Mirage Outfitters Camp), significantly reducing exploration costs and ensuring year-
round accommodation for the Patriot team to ensure seamless operations at the Corvette Project.
Figure 3: Shaakichiuwaanaan Camp at KM-270 of the Trans-Taiga Road. Trans-Taiga Road (upper left) and
the Company’s all-season road (right).
In response to a request from the tallyman and the community of Chisasibi, Patriot is pleased to
name the camp Shaakichiuwaanaan. The name means ‘climbing a hill, or mountain’, three of which
are prevalent in the Project area (Figure 4).
Figure 4: Photo showing the three mountains/hills inspiring the camp’s name (Shaakichiuwaanaan)
For reference, a ll of these Project areas, including the camp, drilling (inclusive of CV13 and all
other known surface spodumene outcrops at Corvette), and planned infrastructure development
areas, all currently fall within trapline CH39 on the traditional territory of the Cree First Nation
of Chisasibi only.
On June 1, the Patriot Board, Executives, site workers, and members of the Cree community
shared a special celebration including building a sabtuan (long teepee) and sharing traditional food
at the Shaakichiuwaanaan Camp (Figure 5). The elders and members of the tallyman’s family
traveled by helicopter with Patriot team members to offer tobacco at the lake located near CV5.
Figure 5: Celebration ceremony at Camp Shaakichiuwaanaan in partnership with the local Cree Community
of Chisasibi.
All-Season Road Operational
The Company is pleased to announce that the CV5 Pegmatite is now road accessible year-
round through the successful connection of CV5 to Shaakichiuwaanaan Camp at KM-270 of the
Trans-Taiga Road. The Company continues to undertake maintenance ( and some improvement
works) on the ~ 20 km all-season gravel road, which now allows for access through to the
southwest side of the CV5 Deposit.
The construction of the all -season road to CV5 is a significant milestone for the Company ,
especially when coupled with Shaakichiuwaanaan Camp. This infrastructure has, and will continue
to, facilitate significant cost savings in exploration by reducing dependency on helicopters for the
movement of personnel , equipment , and logistical support , as well as dramatically reducing
distances to travel from staging to site (Shaakichiuwaanaan Camp versus Mirage Lodge).
The realization of these cost savings has already had a significant positive impact on the exploration
cost (measured by a $/m metric) since the camp became operational in January 2024.
Figure 6: The Company’s all -season road (~2 0 km in length) now operational and connecting the CV5
Deposit directly to KM-270 of the all-season Trans-Taiga Road and therefore the provincial road network.
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 4.6 km long CV5 Spodumene Pegmatite, which hosts a maiden
Mineral Resource estimate of 109.2 Mt at 1.42% Li2O Inferred1.
To date, eight (8) distinct clusters of lithium pegmatite have been discovered across the Corvette
Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, and the recently discovered CV14. Given
the proximity of some pegmatite outcrops to each other, as well as t he 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 infrast ructure. The Corvette
Property hosts the CV5 Spodumene Pegmatite with a maiden M ineral Resource Estimate of
109.2 Mt at 1.42% Li 2O Inferred1 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% Li2O and 160 ppm Ta2O5 Inferred) is reported at a cut-
off grade of 0.40% Li2O with an 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 lithium pegmatite resource
in the Americas based on contained LCE.
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