Update on 2024 Summer-Fall Exploration and Development Activities at Shaakichiuwaanaan, 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
Update on 2024 Summer-Fall Exploration and Development
Activities at Shaakichiuwaanaan, Quebec, Canada
October 27, 2024 – Vancouver, BC, Canada October 28, 2024 – Sydney, Australia
HIGHLIGHTS
• 2024 drill campaign nearly complete having drilled ~127,700 m (428 holes) at
Shaakichiuwaanaan since January.
• Results for more than 65,000 m (262 holes) remain to be reported pending final assays
from the summer-fall program.
• The 2024 infill drill campaign at the CV5 Spodumene Pegmatite further supports conversion
of Inferred resources to Indicated resources, underpinning the Feasibility Study on schedule
for the third quarter 2025.
• Updated Mineral Resource Statement targeted for March/April 2025.
• Results for approximately 10,000 m (33 holes) of follow-up drilling at the CV13 Spodumene
Pegmatite’s high-grade Vega Zone remain to be reported pending final assays.
• Geotechnical, hydrogeological, and geomechanical drilling to support the Feasibility Study
anticipated to be finished within two weeks, completing the bulk of the 2024 calendar year
exploration spend.
o Includes monitoring well installation and several long-duration pump tests.
• Various trade-offs and development studies underway in support of the Feasibility Study.
• 2024 surface exploration complete, which included channel sampling, geological mapping,
and prospecting of the broader CV Lithium Trend – results to be presented in a subsequent
news release.
• Environmental field programs have progressed to plan and a summary will be presented in
a subsequent news release.
Ken Brinsden, President, CEO and Director , comments: “There has been significant activity at site
throughout the year, both in new exploration and in support of Project development for CV5 as we progress
the Feasibility Study. Our Preliminary Economic Assessment (“PEA”), announced August 21, 2024, outlined
a compelling economic scenario for the development of Shaakichiuwaanaan’s CV5 Spodumene Pegmatite
and provides significant confidence in the potential for the Project to be a lithium raw material supply
powerhouse to the North American and European markets. With a Project of world class caliber, coupled
with our exploration and development team expertise and commitment , we remain on track for a
Q3-2025 Feasibility Study and ESIA release.”
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to provide an exploration and development update
for its 100%-owned Shaakichiuwaanaan Property (the “Property” or “Project”) – formerly known
as Corvette – located in the Eeyou Istchee James Bay region of Quebec, which is accessible year-
round by all-season road and is proximal to major regional powerline infrastructure.
On August 21, 2024, the Company announced a robust Preliminary Economic Assessment (“PEA”)
on the Shaakichiuwaanaan Property’s CV5 Spodumene Pegmatite , which provid ed a compelling
economic scenario for development. In parallel with the PEA, the Company has not relented on
its collection of various datasets, trade-offs and related internal studies, to support the Feasibility
Study which remains on schedule for completion in the second half of 2025.
This work includes both field and desktop programs – drilling, engineering, metallurgy, channel
sampling, geological mapping, environmental, social engagement, etc. – focused on the critical path
needs to support the Feasibility Study and the path to potential production.
DRILL EXPLORATION (CV5 INFILL AND CV13 STEP-OUT)
From early June through October 20, 2024, the Company had completed ~65,000 m (262 holes)
at Shaakichiuwaanaan, resulting in a total of ~127,700 m (428 holes) completed in 2024, and over
234,000 m (nearly 800 holes) completed to date at the Property (Figure 1).
A primary objective of the drilling completed subsequent to the August 2024 Mineral Resource
Estimate (“MRE”) at the CV5 Spodumene Pegmatite, is to target the upgrade of Inferred resources
to Indicated resources , which correlates to a more robust Mineral Resource with a higher
confidence classification required for a Feasibility Study.
Therefore, the summer-fall infill drill program targeted the Inferred classified MRE blocks included
in the August 2024 PEA mine plan , in addition to those outlined through ongoing Project
optimizations. Approximately 52,300 m (154 holes) were completed at CV5 as part of this
program, which spanned effectively the entire 4.6 km strike length of CV5 at various depths (Figure
2, Figure 3, Figure 4, Figure 5, and Figure 6). This drilling was completed on schedule in early
October with all sample batches having now been received at the laboratory. Assays received from
the lab to date are being compiled and will be reported in bulk in a subsequent news release.
The geological model for the CV5 Spodumene Pegmatite continues to be refined based on the
infill drill ing data and core assay results as they are received. Once validated in the fall , this
geological model will underpin a classified block model for handoff to the Company’s independent
engineering consultants and used for final design in the Feasibility Study mine plan.
Given the improved geological confidence expected from the extensive 2024 infill drill program at
CV5, the bulk resource development drilling is now largely complete meaning total drilling
expenditure will be reduced significantly from the end of the third quarter 2025.
In addition to the CV5 infill drill program , a total of approximately 10,000 m (33 holes) were
completed at the CV13 Spodumene Pegmatite . These holes targeted an extension of the high-
grade Vega Zone, discovered in the final days of the 2024 winter program (see news releases dated
May 6 and July 7, 2024 ). Results from the winter drill program include 51.7 m at 1.77% Li 2O,
including 9.7 m at 5.16% Li 2O (CV24 -525) and 34.4 m at 2.90% Li 2O, including 21.9 m at
3.58% Li2O (CV24-470). Results from the summer-fall drill program at CV13 will be reported in a
subsequent news release once all assays have been received.
Figure 1: Drill holes completed subsequent to those included in the August 2024 MRE
(green), through drill hole CV24-782.
Figure 2: The Company’s all-season road, extending south from the all-season Trans-Taiga
Road, provides direct ground access for drill rigs to the CV5 Spodumene Pegmatite.
Figure 3: Four skid-mounted drill rigs ready for deployment to the southwest area of CV5 using
the Company’s all-season road. No helicopter support required.
Figure 4: Trail accessible drill hole CV24-695, situated immediately proximal to CV5.
Figure 5: Barge-based drill hole CV24-697 over shallow glacial lake at CV5.
Figure 6: Drill core processing in core shack at site.
DRILL EXPLORATION (GEOTECHNICAL, HYDROGEOLOGICAL, AND GEOMECHANICAL)
The geotechnical, hydrogeological, and geomechanical campaigns have all been designed to
underpin a Feasibility Study for the CV5 Spodumene Pegmatite at the Property. Therefore, a
significant amount of data collection has been completed throughout 2024, with the large majority
being completed during the ongoing summer-fall program.
Geotechnical
The geotechnical campaign at the Project began in June of this year and is anticipated to be
completed within the next two weeks. The campaign includes over 60 drill holes, of which a
significant number of them have also been utilized to collect hydrogeological information.
Geotechnical drill holes were completed over proposed infrastructure locations including the
process plant, mining camp, stockpiles, waste rock and tailings management facilities, as well as the
envisioned open-pit (Figure 7 and Figure 8).
In each drill hole the overburden profile and bedrock contacts have been assessed as well as
various samples of overburden and bedrock collected for granulometry and other specific analysis.
The data collected will inform the development of the various infrastructure sites including bearing
capacity, foundation type, and build conditions.
Figure 7: Geotechnical hole CV24-575 situated northeast of CV5 at proposed
infrastructure site.
Figure 8: Geotechnical hole CV24-570 situated north of CV5 at a proposed infrastructure site.
Hydrogeological
The hydrogeological campaign for the Project began in 2023 with a preliminary hydrogeological
model produced for the open -pit and underground development areas . This campaign was
significantly expanded in 2024, beginning in June, and is anticipated to be completed within the next
two weeks. The principal objective of the campaign is to characterize the shallow and deep
groundwater flow regime over the Project area. This includes measuring water levels and defining
the hydraulic properties of the various roc k types and overburden throughout the Project area,
with a strong focus on the immediate CV5 Deposit area.
The 2024 hydrogeological program is comprised of over 60 drills holes, including three (3) larger
diametre holes – one (1) PQ hole (122.6 mm hole diametre) and two (2) 6-inch holes – suitable
for long duration pumping tests. These hydrogeological focused holes were completed over
proposed infrastructure locations including the process plant, mining camp, stockpiles, waste rock
and tailings management facilities, as well as the envisioned open-pit and underground development
areas of the CV5 Pegmatite.
Various datasets have been derived from the tests conducted in the se drill holes and include s
piezometric surveys, slug tests, packer tests, and groundwater sampling. Monitoring wells were
installed (Figure 9), completed and tested in more than 35 holes. Packer testing was conducted in
12 holes to define the hydraulic conductivity of rock at depths ranging from 10 to 300 me tres.
Long-duration pumping tests were completed at several locations including a 6-day pump test from
a 6-inch hole completed at CV5 to collected pit -dewatering data (Figure 10). Water levels and
water quality were recorded during the test in the pumping hole as well as multiple other
neighbouring holes/lakes. The results will be used to define the hydraulic properties of the rock,
radius of influence, and source of water during the dewatering test.
Figure 9: Monitoring well installation in drill hole CV24-672, situated
north of CV5.
Figure 10: Drill hole CV24-696 (6-inch diametre) completed at CV5 for long-duration pump test
to assess pit dewatering.