Patriot Battery Metals Completes Winter Drill Program, Extends Main Pegmatite Body to over 1.4 km in Length, and Returns Wider Intersections at Depth – Corvette Lithium Property, James Bay, Quebec
Patriot Battery Metals Inc. has completed the winter/spring phase of its 2022 drill campaign at the Corvette Property, with 20 drill holes totaling 4,352 m. Geological modeling shows pegmatite extending over 1,400 m between CV5 and CV1, with indications of thickening at depth. The summer/fall drilling is set to begin on June 1, focusing on additional infill and step-out holes. Previous drill results indicated strong lithium-tantalum mineralization, including intercepts of 155.1 m at 0.94% Li2O. The company is preparing for further assays and potential expansion of its drilling capacity.
- Drill holes indicate a significant pegmatite extension of at least 1,400 m.
- Thickening of the pegmatite body at depth, suggesting strong mineral potential.
- 20 drill holes completed, totaling 4,352 m, laying a strong foundation for future results.
- Expected summer/fall drilling to add approximately 15,000 m of exploration.
- No assay results have been received from the drill core samples yet.
VANCOUVER, British Columbia., April 21, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that it has concluded the winter/spring component of the 2022 drill campaign at its wholly owned Corvette Property (the “Property”). Further, the Company is pleased to report that, based on drill holes completed to date, the geological 3D modelling indicates that pegmatite continues across the lake from CV5 towards CV1 – a strike length of at least 1,400 m – and the working geological model continues to indicate that the pegmatite body is thickening at depth. 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, within the James Bay Region of Quebec.
The winter/spring phase of the 2022 drill campaign began in late February with two diamond drill rigs, which remain on site in preparation the summer/fall phase of the drilling expected to commence in early June. A total of twenty (20) NQ size diamond drill holes (4,352 m) were completed during the winter/spring phase and included seventeen (17) holes collared over ice, and three (3) holes collared over land. The geological team remains on site for final processing of the drill core received and to prepare the program’s final shipment of samples for transport to the laboratory for analysis. The Company is using SGS Canada (Lakefield, ON, and Burnaby, BC facilities) as their primary analytical lab.
The primary objective of the winter/spring drill program was to test for mineralized pegmatite along strike from surface outcrops, potentially connecting the CV5-6 pegmatites with the CV1-2 pegmatites, as well as testing the mineralization at depth. The Company is pleased to report that, based on drill holes completed to date, the geological 3D modelling indicates that pegmatite continues across the lake from CV5 towards CV1 – a strike length of at least 1,400 m. The lithium-bearing mineral spodumene has been field identified in multiple drill holes, including the final two (2) drill holes of the program. No core sample assays have been received.
In addition, the working geological model continues to indicate that the pegmatite body is thickening at depth, as is evidenced by drill holes CV22-016, 019, 031, and 028, which tested the down-dip extension of drill holes CV22-015, 018, 025, and 027, respectively, and returned significantly wider intercepts. Orientation of drill holes along with logged pegmatite intercepts are presented in Table 1. The location of drill holes completed to date are presented in Figure 1.
The summer/fall phase of the drilling is scheduled to begin June 1st, and detailed planning is underway for the remaining approximately 15,000 m campaign. This drilling will focus on continued land-based infill and step-out holes around CV5-6 and CV1-2, as well as testing new regional targets (see news release dated March 8th, 2022). The Company is also evaluating the addition of a third drill rig to enable increased production during the summer/fall program.
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
Table 1: Pegmatite intercepts logged in 2022 drill holes at the Corvette Property https://www.globenewswire.com/NewsRoom/AttachmentNg/ee6b4015-cff0-496f-a89d-3489f87f9390
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.
Figure 1: 2022 drill hole collar locations
https://www.globenewswire.com/NewsRoom/AttachmentNg/54ef63a4-68f2-4cdc-950a-cfb8cce60a55
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
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
The Company also holds
The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a
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 are the results of Patriot Battery Metals' winter/spring drill campaign in 2022?
When will the summer/fall drilling campaign for Patriot Battery Metals start?
What mineralization was identified during the drilling at Corvette Property?
What is the significance of the CV Lithium Trend for PMETF?
How much drilling is planned for the summer/fall phase of Patriot Battery Metals' campaign?
