Final 2023 Drill Hole Results for CV5 at Corvette including 133.9 m at 1.21% Li2O and Extending Strike to 4.6 km
- Strong assay results from infill drilling at CV5, including 133.9 m at 1.21% Li2O and high-grade intercepts such as 3.22% Li2O.
- CV5's mineralization has been traced over a 4.6 km strike length and remains open along strike and to depth.
- The 2024 winter drill program totaled 62,518 m (166 holes) and focused on upgrading the resource category at CV5.
- The Company completed 134,129 m (369 holes) at CV5 since fall 2021, with only 56,461 m included in the June 2023 MRE.
- An updated MRE in Q3 2024 will include both CV5 and CV13 spodumene pegmatites, aiming to increase confidence in the resource category at CV5.
- None.
Highlights
- Strong assay results over wide intervals from infill drilling at CV5.
- 133.9 m at
1.21% Li2O, including 41.5 m at1.52% Li2O; and 42.2 m at1.59% Li2O, including 10.1 m at3.22% Li2O (CV23-298). - 50.5 m at
1.42% Li2O, including 11.4 m at3.13% Li2O; and 38.7 m at2.06% Li2O, including 15.6 m at3.26% Li2O (CV23-285). - High-grade intercepts at CV23-298 and 285 are located further west and outside of the previously delineated Nova Zone.
- 133.9 m at
- Assays and the continuity of mineralization along CV5's western extension are encouraging and situated outside of the June 2023 mineral resource estimate ("MRE").
- 30.5 m at
0.77% Li2O, including 14.2 m at1.57% Li2O; and 21.0 m at0.81% Li2O, including 11.0 m at1.46% Li2O (CV23-283) – collared in pegmatite. - 21.3 m at
0.88% Li2O, including 6.4 m at1.87% Li2O; and 24.9 m at0.83% Li2O, including 11.1 m at1.80% Li2O (CV23-295).
- 30.5 m at
- Through 2023, CV5 mineralization has been traced by drilling over a 4.6 km strike length and remains open along strike at both ends and to depth.
- The 2024 winter drill program (now complete), totaled 62,518 m (166 holes), including 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13 (with first assays to be reported shortly).
- Since discovery (fall 2021) through to the recently completed 2024 winter drill program, the Company had completed 134,129 m (369 holes) at CV5, of which only 56,461 m (166 holes) were included in the June 2023 MRE.
- An updated MRE in Q3 2024 will focus on upgrading the resource category at CV5 and include a maiden resource at CV13, incorporating all drilling through to April 2024.
Darren L. Smith, Vice President of Exploration for the Company, comments: "The 2023 drilling at CV5 has more than doubled the spodumene pegmatite's strike from 2.2 km at the end of 2022, to 4.6 km at the end of 2023 and remains open. To put this further into perspective, the maiden mineral resource estimate for CV5 – announced July 2023 – covered only ~3.7 km of this strike length and highlights the deposit's growth potential over time. While much work has been done, in many respects it feels like we are only just beginning to unlock the potential at Corvette."
Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the remaining core assay results for drill holes completed in 2023 at the CV5 Spodumene Pegmatite. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of
Drill results for the remaining 42 drill holes completed in 2023 at the CV5 Spodumene Pegmatite are reported herein (Figure 4). This drilling included both infill holes as well as holes completed over the western extension of the pegmatite body, discovered subsequent to the June 2023 MRE. Collectively, through to the end of 2023, drilling has traced the CV5 Spodumene Pegmatite over a strike length of 4.6 km, which remains open along strike at both ends and to depth (Figure 1). Highlights for the holes reported herein include:
- 133.9 m at
1.21% Li2O, including 41.5 m at1.52% Li2O; and 42.2 m at1.59% Li2O, including 10.1 m at3.22% Li2O (CV23-298). - 50.5 m at
1.42% Li2O, including 11.4 m at3.13% Li2O; and 38.7 m at2.06% Li2O, including 15.6 m at3.26% Li2O (CV23-285). - 123.5 m at
0.72% Li2O, including 35.5 m at1.07% Li2O; and 12.9 m at1.30% Li2O, (CV23-272A). - 76.7 m at
0.69% Li2O, including 34.1 m at0.98% Li2O (CV23-327).
Drill holes CV23-298 and CV23-285 returned sub-intervals of very high grade at 10.1 m at
- 30.5 m at
0.77% Li2O, including 14.2 m at1.57% Li2O; and 21.0 m at0.81% Li2O, including 11.0 m at1.46% Li2O (CV23-283) – collared in pegmatite. - 21.3 m at
0.88% Li2O, including 6.4 m at1.87% Li2O; and 24.9 m at0.83% Li2O, including 11.1 m at1.80% Li2O (CV23-295).
Over the western extension at CV5, the principal pegmatite is interpreted to have bifurcated into two (2) sub-parallel trending bodies, both of which remain mineralized and open to the west and at depth. This is illustrated via a simplified geological cross-section for drill holes CV23-283 and 295 (Figure 7 and Figure 8). Additionally, very high-grade intervals continue to be discovered over the extension including 3.9 m at
Through 2023, the CV5 and CV13 spodumene pegmatites have been traced by drilling to within approximately 2.9 km of each other (Figure 10). This highly prospective corridor between the two spodumene pegmatites, also coincident with a local structural and magnetic trend, remains to be drill tested.
In 2023 at the Corvette Property, the Company completed a total of 78,213 m (266 holes), including 58,460 m (168 holes) at CV5, 14,917 m (74 holes) at CV13, 4,071 m (18 holes) at CV9, and 765 m (6 holes) at Camp Shaakichiuwaanan.
The 2024 winter drill program, which recently concluded at the Property, totalled 62,518 m (166 holes) – 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13. All results for this drilling remain to be reported. A summary update on the program is anticipated to be announced shortly.
Since discovery (fall 2021) through to the recently completed 2024 winter drill program, the Company had completed 134,129 m (369 holes) at CV5, of which only 56,461 m (166 holes) were included in the June 2023 MRE. The majority of the drilling completed since the June 2023 MRE has been focused on infill rather than resource growth in order to upgrade the resource category from inferred to indicated at CV5.
An updated MRE for the Corvette Project, incorporating drilling through April 2024, is planned for Q3 2024. This MRE update will include both the CV5 and CV13 spodumene pegmatites and a total anticipated metreage of 134,129 m (369 holes) and 29,121 m (133 holes), respectively. The primary objective of the Q3 2024 MRE update is to increase confidence in resource category at CV5, from inferred to indicated, to further support development studies underway.
Core sample assays for drill holes reported herein from the CV5 Spodumene Pegmatite are presented in Table 1 for all pegmatite intersections >2 m. Drill hole locations and attributes are presented in Table 2.
1 | The CV5 mineral resource estimate (109.2 Mt at |
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
All core samples collected were shipped to SGS Canada's laboratory in
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
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 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.
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
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.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale
1 The CV5 mineral resource estimate (109.2 Mt at
For further information, please contact us at info@patriotbatterymetals.com 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
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.
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 that proposed exploration and mineral resource estimate work on the Corvette Property will continue as expected, and that exploration and development results continue to support management's current plans for Corvette Property development
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 Corvette Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's business plans, financial performance and condition and may not be appropriate for other purposes.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
Competent Person Statement (ASX Listing Rule 5.22)
The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023. The Company confirms it is not aware of any new information or data that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.
Criteria | JORC Code explanation | Commentary |
Sampling techniques | • Nature and quality of sampling (eg cut channels, random chips, or specific specialized industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralization that are Material to the Public Report. • In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverized to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralization types (eg submarine nodules) may warrant disclosure of detailed information. | • Core sampling protocols meet industry standard practices. • Core sampling is guided by lithology as determined during geological logging (i.e., by a geologist). All pegmatite intervals are sampled in their entirety (half-core), regardless if spodumene mineralization is noted or not (in order to ensure an unbiased sampling approach) in addition to ~1 to 3 m of sampling into the adjacent host rock (dependent on pegmatite interval length) to "bookend" the sampled pegmatite. • The minimum individual sample length is typically 0.3-0.5 m and the maximum sample length is typically 2.0 m. Targeted individual pegmatite sample lengths are 1.0 m. • All drill core is oriented to maximum foliation prior to logging and sampling and is cut with a core saw into half-core pieces, with one half-core collected for assay, and the other half-core remaining in the box for reference. • Core samples collected from drill holes were shipped to SGS Canada's laboratory in |
Drilling techniques | • Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). | • NQ size core diamond drilling was completed for all holes. Core was not oriented. |
Drill sample recovery | • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximize sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | • All drill core was geotechnically logged following industry standard practices, and include TCR, RQD, ISRM, and Q-Method. Core recovery is very good and typically exceeds |
Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. | • Upon receipt at the core shack, all drill core is pieced together, oriented to maximum foliation, metre marked, geotechnically logged (including structure), alteration logged, geologically logged, and sample logged on an individual sample basis. Core box photos are also collected of all core drilled, regardless of perceived mineralization. Specific gravity measurements of pegmatite are also collected at systematic intervals for all pegmatite drill core using the water immersion method, as well as select host rock drill core. • The logging is qualitative by nature, and includes estimates of spodumene grain size, inclusions, and model mineral estimates. • These logging practices meet or exceed current industry standard practices. |
Sub-sampling techniques and sample preparation | • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximize representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. | • Drill core sampling follows industry best practices. Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. The same side of the core was sampled to maintain representativeness. • Sample sizes are appropriate for the material being assayed. • A Quality Assurance / Quality Control (QAQC) protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately • All protocols employed are considered appropriate for the sample type and nature of mineralization and are considered the optimal approach for maintaining representativeness in sampling. |
Quality of assay data and laboratory tests | • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. | • Core samples collected from drill holes were shipped to SGS Canada's laboratory in • The Company relies on both its internal QAQC protocols (systematic use of blanks, certified reference materials, and external checks), as well as the laboratory's internal QAQC. • All protocols employed are considered appropriate for the sample type and nature of mineralization and are considered the optimal approach for maintaining representativeness in sampling. |
Verification of sampling and assaying | • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. | • Intervals are reviewed and compiled by the VP Exploration and Project Managers prior to disclosure, including a review of the Company's internal QAQC sample analytical data. • Data capture utilizes MX Deposit software whereby core logging data is entered directly into the software for storage, including direct import of laboratory analytical certificates as they are received. The Company employs various on-site and post QAQC protocols to ensure data integrity and accuracy. • Adjustments to data include reporting lithium and tantalum in their oxide forms, as it is reported in elemental form in the assay certificates. Formulas used are Li2O = Li x 2.153, and Ta2O5 = Ta x 1.221. |
Location of data points | • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. | • Each drill hole's collar has been surveyed with a RTK Trimble Zephyr 3 or RTK Topcon GR-5. • The coordinate system used is UTM NAD83 Zone 18. • The Company completed a property-wide LiDAR and orthophoto survey in August 2022, which provides high-quality topographic control. • The quality and accuracy of the topographic controls are considered adequate for advanced stage exploration and development, including mineral resource estimation. |
Data spacing and distribution | • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. | • At CV5, drill hole collar spacing is dominantly grid based at ~100 m; however, tightens to ~50 m in multiple areas, and widens to ~150 m in a small number of areas. Several collars are typically completed from the same pad at varied orientations resulting in more varied pegmatite pierce points at depth. • At CV13, drill hole spacing is dominantly grid based at ~100 m; however, collar locations and hole orientations may vary widely, which reflect the varied orientation of the pegmatite body along strike. • At CV9, drill hole collar spacing is irregular with varied hole orientations and multiple collars on the same pad. • It is interpreted that the large majority of the drill hole spacing is sufficient to support a mineral resource estimate. • Core sample lengths typically range from 0.5 to 1.5 m and average ~1 m. Sampling is continuous within all pegmatite encountered in the drill hole. |
Orientation of data in relation to geological structure | • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralized structures is considered to have introduced a sampling bias, this should be assessed and reported if material. | • No sampling bias is anticipated based on structure within the mineralized body. • The principal mineralized bodies are relatively undeformed and very competent, although have some meaningful structural control. • At CV5, the principal mineralized body and adjacent lenses are steeply dipping resulting in oblique angles of intersection with true widths varying based on drill hole angle and orientation of pegmatite at that particular intersection point. i.e., the dip of the mineralized pegmatite body has variations in a vertical sense and along strike, so the true widths are not always apparent until several holes have been drilled (at the appropriate spacing) in any particular drill-fence. • At CV13, the principal pegmatite body has a shallow varied strike and northerly dip. • At CV9, the orientation and geometry of the pegmatite is not well understood. The pegmatite is currently interpreted to be comprised of a single principal dyke, which outcrops at surface, has a steep northerly dip, and is moderately plunging to the east-southeast. |
Sample security | • The measures taken to ensure sample security. | • Samples were collected by Company staff or its consultants following specific protocols governing sample collection and handling. Core samples were bagged, placed in large supersacs for added security, palleted, and shipped directly to |
Audits or reviews | • The results of any audits or reviews of sampling techniques and data. | • A review of the sample procedures for the Company's 2021 fall drill program (CF21-001 to 004) and 2022 winter drill program (CV22-015 to 034) was completed by an Independent Competent Person and deemed adequate and acceptable to industry best practices (discussed in a technical report titled "NI 43-101 Technical Report on the Corvette Property, • A review of the sample procedures through the Company's 2023 winter drill program (through CV23-190) was completed by an independent Competent Person with respect to the CV5 Pegmatite's maiden mineral resource estimate and deemed adequate and acceptable to industry best practices (discussed in a technical report titled " NI 43–101 Technical Report, Mineral Resource Estimate for the CV5 Pegmatite, Corvette Property" by Todd McCracken, P.Geo., of BBA Engineering Ltd., and Ryan Cunningham, M.Eng., P.Eng., of Primero Group Americas Inc., Effective Date of June 25, 2023, and Issue Date of September 8, 2023. • Additionally, the Company continually reviews and evaluates its procedures in order to optimize and ensure compliance at all levels of sample data collection and handling. |
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status | • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. | • The Corvette Property is comprised of 424 CDC claims located in the • The Company holds • The Property does not overlap any atypically sensitive environmental areas or parks, or historical sites to the knowledge of the Company. There are no known hinderances to operating at the Property, apart from the goose harvesting season (typically mid-April to mid-May) where the communities request helicopter flying not be completed, and potentially wildfires depending on the season, scale, and location. • Claim expiry dates range from February 2025 to November 2026. |
Exploration done by other parties | • Acknowledgment and appraisal of exploration by other parties. | • No core assay results from other parties are disclosed herein. • The most recent independent Property review was a technical report titled "NI 43-101 Technical Report, Mineral Resource Estimate for the CV5 Pegmatite, Corvette Property, |
Geology | • Deposit type, geological setting and style of mineralization. | • The Property overlies a large portion of the Lac Guyer Greenstone Belt, considered part of the larger La Grande River Greenstone Belt and is dominated by volcanic rocks metamorphosed to amphibolite facies. The claim block is dominantly host to rocks of the Guyer Group (amphibolite, iron formation, intermediate to mafic volcanics, peridotite, pyroxenite, komatiite, as well as felsic volcanics). The amphibolite rocks that trend east-west (generally steeply south dipping) through this region are bordered to the north by the Magin Formation (conglomerate and wacke) and to the south by an assemblage of tonalite, granodiorite, and diorite, in addition to metasediments of the Marbot Group (conglomerate, wacke). Several regional-scale Proterozoic gabbroic dykes also cut through portions of the Property (Lac Spirt Dykes, Senneterre Dykes). • The geological setting is prospective for gold, silver, base metals, platinum group elements, and lithium over several different deposit styles including orogenic gold (Au), volcanogenic massive sulfide (Cu, Au, Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and pegmatite (Li, Ta). • Exploration of the Property has outlined three primary mineral exploration trends crossing dominantly east-west over large portions of the Property – Golden Trend (gold), Maven Trend (copper, gold, silver), and CV Trend (lithium, tantalum). The CV5 and CV13 spodumene pegmatites are situated within the CV Trend. Lithium mineralization at the Property, including at CV5, CV13, and CV9, is observed to occur within quartz-feldspar pegmatite, which may be exposed at surface as high relief 'whale-back' landforms. The pegmatite is often very coarse-grained and off-white in appearance, with darker sections commonly composed of mica and smoky quartz, and occasional tourmaline. • The lithium pegmatites at Corvette are categorized as LCT Pegmatites. Core assays and ongoing mineralogical studies, coupled with field mineral identification and assays, indicate spodumene as the dominant lithium-bearing mineral on the Property, with no significant petalite, lepidolite, lithium-phosphate minerals, or apatite present. The pegmatites also carry significant tantalum values with tantalite indicated to be the mineral phase. |
Drill hole Information | • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. | • Drill hole attribute information is included in a table herein. • Pegmatite intersections of <2 m are not typically presented as they are considered insignificant. |
Data aggregation methods | • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. | • Length weighted averages were used to calculate grade over width. • No specific grade cap or cut-off was used during grade width calculations. The lithium and tantalum length weighted average grade of the entire pegmatite interval is calculated for all pegmatite intervals over 2 m core length, as well as higher grade zones at the discretion of the geologist. Pegmatites have inconsistent mineralization by nature, resulting in some intervals having a small number of poorly mineralized samples included in the calculation. Non-pegmatite internal dilution is limited to typically <3 m where relevant and intervals indicated when assays are reported. • No metal equivalents have been reported. |
Relationship between mineralization widths and intercept lengths | • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralization with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). | • At CV5, geological modelling is ongoing on a hole-by-hole basis and as assays are received. However, current interpretation supports a principal, large pegmatite body of near vertical to steeply dipping orientation, flanked by several subordinate pegmatite lenses (collectively, the 'CV5 Spodumene Pegmatite') • At CV13, geological modelling is ongoing on a hole-by-hole basis and as assays are received. However, current interpretation supports an upper and lower pegmatite body, each trending sub-parallel to each other with a shallow northerly dip (collectively, the 'CV13 Spodumene Pegmatite') • At CV9, geological modelling is ongoing on a hole-by-hole basis and as assays are received. However, current interpretation indicates CV9 is comprised of a single principal dyke, which outcrops at surface, has a steep northerly dip, and is moderately plunging to the east-southeast. A strike length of 450 m has been delineated through drilling and outcrop. • All reported widths are core length. True widths are not calculated for each hole due to the relatively wide drill spacing at this stage of delineation and the typical irregular nature of pegmatite, as well as the varied drill hole orientations. As such, true widths may vary widely from hole to hole. |
Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. | • Please refer to the figures included herein as well as those posted on the Company's website. |
Balanced reporting | • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. | • Please refer to the table(s) included herein as well as those posted on the Company's website. • Results for pegmatite intervals <2 m are not reported. |
Other substantive exploration data | • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. | • The Company is currently completing site environmental work over the CV5 and CV13 pegmatite area. No endangered flora or fauna have been documented over the Property to date, and several sites have been identified as potentially suitable for mine infrastructure. • The Company has completed a bathymetric survey over the shallow glacial lake which overlies a portion of the CV5 Spodumene Pegmatite. The lake depth ranges from <2 m to approximately 18 m, although the majority of the CV5 Spodumene Pegmatite, as delineated to date, is overlain by typically <2 to 10 m of water. • The Company has completed preliminary metallurgical testing comprised of HLS and magnetic testing, which has produced 6+% Li2O spodumene concentrates at > • Various mandates required for advancing the Project towards economic studies have been initiated, including but not limited to, environmental baseline, metallurgy, geomechanics, hydrogeology, hydrology, stakeholder engagement, geochemical characterization, as well as transportation and logistical studies. |
Further work | • The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. | • The Company intends to continue drilling the pegmatites of the Corvette Property, focused on the CV5 Pegmatite and adjacent subordinate lenses, as well as the CV13 Pegmatite. A follow-up drill program at the CV9 Spodumene Pegmatite is also anticipated. |
View original content to download multimedia:https://www.prnewswire.com/news-releases/final-2023-drill-hole-results-for-cv5-at-corvette-including-133-9-m-at-1-21-li2o-and-extending-strike-to-4-6-km-302122832.html
SOURCE Patriot Battery Metals Inc
FAQ
What are the highlights of the final 2023 drill hole results at CV5 for Patriot Battery Metals Inc.?
Where is the CV5 Spodumene Pegmatite located?
What is the Company planning to release in Q3 2024?
How much drilling has the Company completed at CV5 since fall 2021?
What was the focus of the 2024 winter drill program for Patriot Battery Metals Inc.?
