Patriot Battery Metals Collars the First Drill Hole of its 2022 Drill Campaign at the Corvette Lithium Property, James Bay, Quebec

Rhea-AI Summary

Patriot Battery Metals Inc. (CSE: PMET, OTCQB: PMETF) has commenced its 2022 drill campaign at the Corvette Property in Quebec, targeting the CV Lithium Trend. The campaign includes two phases with a total of 15,000 to 20,000 meters of drilling, utilizing two rigs. The first phase focuses on areas northeast of the CV5-6 pegmatite, while the second will continue to assess the CV1-2 pegmatites and new regional targets. Previous drilling indicated strong lithium-tantalum mineralization, with notable intercepts of up to 1.25% Li2O. The company has engaged Forage Fusion Drilling for the project.

Positive

• Commencement of a significant 2022 drill campaign targeting CV Lithium Trend.
• Planned 15,000 to 20,000 meters of drilling indicates aggressive exploration strategy.
• Prior drilling results show strong mineralization with intercepts of 1.25% Li2O.

Negative

• None.

VANCOUVER, British Columbia, March 10, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that it has collared the first drill hole of the 2022 drill campaign at its wholly owned Corvette Property (the “Property”), located in the James Bay Region of Quebec. The target drill area – at the CV Lithium Trend – is located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.

The 2022 drill campaign will be completed in two phases – winter/spring and summer/fall – and is planned to include 15,000 to 20,000 m of NQ size coring utilizing two (2) drill rigs. The winter/spring drill program will test the areas northeast and along strike of the CV5-6 pegmatites, beneath a shallow lake, and extend to the CV1-2 pegmatites outcropping on the opposite shore. The primary objective will be to test for mineralized pegmatite along strike, potentially connecting CV5-6 with CV1-2, as well as testing the mineralization at depth. The summer/fall phase will focus on continued land-based infill and step-out drilling around CV5-6 and CV1-2, as well as testing new regional targets (see news release dated March 8^th, 2022).

The aggressive 2022 drill campaign is being completed as a direct follow-up to the strong lithium-tantalum mineralization encountered in the first four (4) drill holes to test the CV5-6 pegmatite this past fall. Drill intercept highlights include 155.1 m at 0.94% Li₂O and 117 ppm Ta₂O₅ (CF21-002), and 58.1 m at 1.25% Li₂O and 194 ppm Ta₂O₅ (CF21-003) (see news releases dated January 27^th and February 3^rd, 2022).

The second drill rig has also now arrived on site and is currently mobilizing from the staging area to the drill site and is expected to begin coring shortly. The Company has engaged Forage Fusion Drilling Ltd. of Hawkesbury, Ont., to carry out the diamond drilling with the program being managed by Dahrouge Geological Consulting Ltd. of Edmonton, AB.

The Company notes that it has developed a COVID Management Plan for the program and will carry out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.

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, which is part of the more than 25-km long and Property-wide CV Lithium Trend. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop with drill intercepts of 155.1 m at 0.94% Li₂O and 117 ppm Ta₂O₅ (CF21-002), and 58.1 m at 1.25% Li₂O and 194 ppm Ta₂O₅ (CF21-003). Drilling indicates a pegmatite body approximating 60 m in true width, and therefore 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, which includes the wholly owned Corvette, FCI East, FCI West, Deca-Goose, Felix, and Corvette East claim blocks, located in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the CV5-6 spodumene pegmatite with drill intercepts of 0.94% Li₂O and 117 ppm Ta₂O₅ over 155.1 m (CF21-002), and 1.25% Li₂O and 194 ppm Ta₂O₅ over 58.1 m at (CF21-003). 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”                                “ADRIAN LAMOUREUX”

Blair Way, President & Director       Adrian Lamoureux, CEO & Director

Disclaimer for Forward-Looking Information

Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

FAQ

What is Patriot Battery Metals' stock symbol?

Patriot Battery Metals trades under the stock symbol PMETF.

Where is the Corvette Property located?

The Corvette Property is located in the James Bay Region of Quebec.

What is the focus of the 2022 drill campaign by Patriot Battery Metals?

The 2022 drill campaign aims to explore the CV Lithium Trend for lithium-tantalum mineralization.

How many meters of drilling are planned in the 2022 drill campaign?

The 2022 drill campaign plans to include 15,000 to 20,000 meters of drilling.

What were the highlights from previous drilling at the Corvette Property?

Previous drilling highlighted intercepts including 155.1 meters at 0.94% Li2O and 58.1 meters at 1.25% Li2O.