Field Crews Re-mobilize for Summer-Fall Drill and Surface Exploration Programs, Corvette Property, Quebec

Rhea-AI Summary

Patriot Battery Metals Inc. has re-mobilized field crews to the Corvette Property to initiate the summer-fall phase of its 2022 drill campaign. The primary focus is to delineate the spodumene pegmatite body in the CV5-1 Corridor, while secondary objectives target other lithium pegmatite occurrences. Previous drilling has shown significant results, with intercepts of 3.01% Li₂O over 40.7 m. The upcoming phase aims to complete at least 15,000 m of drilling, supported by the addition of a third drill rig and continued surface exploration starting mid-June.

Positive

• Successful winter-spring program achieved objectives with 4,345 m over 20 drill holes.
• Significant lithium assays reported, including 3.01% Li₂O over 40.7 m.
• Drilling expected to include at least 15,000 m of additional coring, indicating ongoing commitment to exploration.

Negative

• Drilling paused from April 20 to late May due to regional restrictions, impacting operational continuity.
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Highlights

• Field crews have re-mobilized to the Corvette Property for commencement of the summer-fall phase of its 2022 drill campaign
  • Primary objective is to further delineate the main spodumene pegmatite body within the 2+ km long CV5-1 Corridor
  • Secondary objectives include drill testing of multiple other lithium pegmatite occurrences identified on the Property
  • Field crews will mobilize within the next two weeks for commencement of its 2022 surface exploration programs
  • Surface exploration to consist of surface mapping proximal to the known lithium pegmatite occurrences, as well as prospecting of the more than 30 km trend that remains unexplored for lithium pegmatite
    

VANCOUVER, British Columbia, June 02, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that field crews have re-mobilized to site for the commencement of the summer-fall phase of its 2022 drill campaign at the Corvette Property (the “Property”). The Property is located proximal to the regional and all-weather Trans-Taiga Road and powerline infrastructure, within the James Bay Region of Quebec.

The mobilization of drill crews, geological staff, and support staff follows a brief pause in drilling from April 20^th through late May to comply with regional restrictions on exploration activity over the period as well as to allow for spring break-up. The Company utilized this time to further develop its geological model of the main lithium pegmatite body(s) and corridor being drill tested – the CV1, CV2, CV5, and CV6 pegmatites – as well as further refine the next series of drill holes and finalize plans for the pending surface exploration programs.

The winter-spring drill program was highly successful (4,345 m over 20 drill holes), achieving all its objectives, significantly expanding the mineralized pegmatite along strike and to depth. Specifically, the drilling traced the pegmatite across the lake from CV5 towards CV1 – a strike length of at least 1,400 m – and also indicates that the pegmatite body is widening at depth. Drill results reported to date from the program include 3.01% Li₂O and 160 ppm Ta₂O₅ over 40.7 m within a wider zone of 2.22% Li₂O and 147 ppm Ta₂O₅ over 70.1 m (CV22-017), and 1.17% Li₂O and 111 ppm Ta₂O₅ over 33.8 m within a wider zone of 0.80% Li₂O and 118 ppm Ta₂O₅ over 95.8 m (CV22-019) (see news releases dated May 17^th and 24^th, 2022). Core assays for the remaining sixteen (16) drill holes from the winter program remain to be reported.

The main pegmatite body remains open to the southwest, the northeast, and at depth, with a significant portion of the overall corridor of focus – containing the CV6, CV5, CV11, CV2, CV1, CV4, and CV7 pegmatite outcrops – remaining to be drill tested. To date, the main pegmatite body has been traced to a vertical depth of a least 180 m (CV22-030) and additional pegmatite encountered down to a vertical depth of approximately 265 m – ending in spodumene pegmatite.

The summer/fall phase of drilling is anticipated to include at least 15,000 m of additional coring. This drilling will focus on continued land-based infill and step-out holes at the CV5-1 corridor, as well as testing new regional targets (see news release dated March 8^th, 2022). The Company will add a third drill rig to the program, expected to arrive by mid-July, as well as a lake barge, which will allow continued focus on delineating the main pegmatite body beneath the shallow glacial lake between the CV5 and CV1 pegmatites.

The surface component of the 2022 exploration program will commence in mid-June with detailed outcrop mapping proximal to the known spodumene pegmatite outcrops present across the Property (CV1 through CV12). This data will help with local structural and geological interpretation and allow for refined drill hole targeting. Additionally, the new claim blocks recently acquired by the Company (Felix, Deca-Goose, and Corvette East) will be prospected for lithium pegmatite. Historically, pegmatite outcrops have been documented over these claim blocks; however, the large majority have not been assessed for lithium mineralization, representing more than 25-30+ km of prospective trend.

About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor (the CV5-1 Corridor), which is part of the more than 25-km long CV Lithium Trend extending across the Property. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, CV7, and CV11 pegmatites and has returned drill intercepts of 0.94% Li₂O and 117 ppm Ta₂O₅ over 155.1 m (CF21-002), and 2.22% Li₂O over 70.1 m, including 3.01% Li₂O over 40.7 m (CV22-017). Drilling to date indicates a principal pegmatite body of significant size and has been traced by drilling over a distance of at least 1.4 km, and therefore, is considerably larger than that observed in outcrop. The high number of well-mineralized pegmatites in this core area of the trend indicate a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.

Qualified Person

Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.

About Patriot Battery Metals Inc.

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.

The Company’s flagship asset is the Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the CV5-1 spodumene pegmatite corridor with drill intercepts of 0.94% Li₂O and 117 ppm Ta₂O₅ over 155.1 m (CF21-002), and 2.22% Li₂O over 70.1 m, including 3.01% Li₂O over 40.7 m (CV22-017). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.

The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.

The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.

For further information, please contact us at info@patriotbatterymetals.com Tel: +1 (778) 945-2950 , or visit www.patriotbatterymetals.com.

On Behalf of the Board of Directors,

“BLAIR WAY”

Blair Way, President, CEO, & Director

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

No securities regulatory authority or stock exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

 

FAQ

What are the objectives of Patriot Battery Metals' summer-fall drilling campaign?

The primary objective is to delineate the spodumene pegmatite body in the CV5-1 Corridor, while secondary objectives involve drill testing multiple other lithium pegmatite occurrences.

What recent drilling results has Patriot reported from the Corvette Property?

Recent drilling reported significant assays, including 3.01% Li₂O over 40.7 m and 2.22% Li₂O over 70.1 m.

How much drilling is planned for the upcoming phase at the Corvette Property?

Patriot plans to conduct at least 15,000 m of additional coring in the summer-fall phase of drilling.

What challenges did Patriot Battery Metals face in April and May 2022?

The company experienced a pause in drilling due to regional exploration restrictions and spring break-up.

Where is the Corvette Property located?

The Corvette Property is located in the James Bay Region of Quebec, near the Trans-Taiga Road and powerline infrastructure.