Patriot Battery Metals Drills 1.25% Li2O over 58.1 m, including 1.80% Li2O over 33.0 m, in Third Hole at the Corvette-FCI Property, James Bay, QC

Rhea-AI Summary

Patriot Battery Metals Inc. has announced assay results from its third and fourth drill holes at the Corvette-FCI Property in Quebec. Drill hole CF21-003 returned significant results, including 1.25% Li₂O over 58.1 m and a peak of 1.80% Li₂O over 33.0 m. The fourth hole CF21-004 achieved 0.64% Li₂O over 63.6 m, indicating a potentially substantial lithium resource. The drilling enhances understanding of the CV Lithium Trend, suggesting greater dimensions and mineral potential than previously estimated.

Positive

• CF21-003 returned 1.25% Li₂O over 58.1 m, including 1.80% Li₂O over 33.0 m.
• CF21-004 recorded 0.64% Li₂O over 63.6 m, indicating a strong mineralization.
• The assay results suggest a larger pegmatite body and enhanced potential for significant lithium resources.

Negative

• None.

VANCOUVER, British Columbia, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce the assay results from the third and fourth holes of its inaugural drill program at the Company’s Corvette-FCI Property (the “Property” or "Project"), located in the James Bay Region of Quebec. The third drill hole (CF21-003) targeted the CV5 Spodumene Pegmatite outcrop from the opposite side, on the same section, as the first drill hole (CF21-001). The fourth drill hole (CF21-004) targeted the CV6 Pegmatite outcrop, which is located approximately 550 m along strike west-southwest of drill holes CF21-001 and 003, and approximately 650 m along strike from drill hole CF21-002. The CV5-6 pegmatites form part of the more than 25 km long CV Lithium Trend that is host to multiple spodumene pegmatite occurrences. Drill core sample assay highlights from the third and fourth holes of the 2021 program are outlined in Table 1 and include:

• CF21-003 – 1.25% Li₂O and 194 ppm Ta₂O₅, over 58.1 m (from 23.0 m to 81.1 m), including,
  • 1.80% Li₂O and 264 ppm Ta₂O₅ over 33.0 m (from 27.0 m to 60.0 m)
• CF21-004 – 0.64% Li₂O and 223 ppm Ta₂O₅ over 63.6 m (from 38.0 m to 101.6 m), including
  • 1.13% Li₂O and 180 ppm Ta₂O₅ over 30.0 m (from 41.0 m to 71.0 m), including,
  • 1.69% Li₂O and 210 ppm Ta₂O₅ over 10.0 m (from 41.0 m to 51.0 m)
    

Blair Way, Company President and Director, comments: “This third drill hole gives us a clear insight as to the thickness of the CV5 Pegmatite as indicated from cross-sections. The coming winter drill program will focus on the shallow glacial lake between CV5 and CV1 to better determine the dimensions, depth extent, and potential for pegmatite at this location. The initial drilling and geological modelling have made it clear that the true thickness of the CV5 pegmatite is significantly larger than the surface outcrop.”

The third drill hole of the program (CF21-003) was collared approximately 20 m from the CV5 Pegmatite outcrop, on its north side. As the first two drill holes (CF21-001 and 002), collared on the southside of CV5, indicated the pegmatite had a conformable strike; however, a non-conformable dip to the local geological fabric, the third hole was designed to constrain the dip direction at this location. Drill hole CF21-003 returned a well mineralized pegmatite interval assaying 1.25% Li₂O and 194 ppm Ta₂O₅ over 58.1 m, including 1.80% Li₂O and 264 ppm Ta₂O₅ over 33.0 m. The drill hole indicates a moderate to steep dip to the north-northwest at this location, and infers a true width of the pegmatite to approximate 60 m. However, additional drilling, planned to commence this quarter (see news release dated January 20, 2022), is required to establish the true orientation of the pegmatite. Additional assay highlights are presented below in Table 1 and Figure 1. A cross-section of the pegmatite along drill holes CF21-001 and 003 is presented in Figure 3.

Table 1: Core sample assay highlights from drill holes CF21-001, 002, 003 at the CV5 Pegmatite and 004 at CV6:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a9af2650-2c07-4b7f-b664-5dce0a98209c

Core sample assay highlights from drill holes CF21-001, 002, 003 at the CV5 Pegmatite and 004 at CV6

The fourth drill hole of the program (CF21-004) was collared approximately 20 m from the CV6 Pegmatite outcrop, on its south side, approximately 550 m west-southwest and along strike of drill holes CF21-001 and 003, and returned a pegmatite intersection of 63.6 m assaying 0.64% Li₂O and 223 ppm Ta₂O₅, including 30 m at 1.13% Li₂O and 180 ppm Ta₂O₅. With over 223 ppm Ta₂O₅ across the entire length of pegmatite at this location, the potential for a highly fractionated pegmatite with discrete zones of unique mineralization is implied for the CV Lithium Trend.

Geological modelling and the magnitude of drill intersections suggests that the CV5 and CV6 pegmatites are connected and may form part of a singular, larger pegmatite body. Additional drilling is required to confirm the Company’s interpretation and is a primary objective of the 2022 drill campaign (see news release dated January 20, 2022). To date, four (4) drill holes at the CV5-6 pegmatites have been completed with analytical results for all four (4) drill holes now reported. Coupled with the surface sampling data, the analytical results indicate a pegmatite body with significant lateral and depth potential and collectively emphasize the size of the mineralizing system present within this portion of the overall CV Lithium Trend. It is anticipated that drilling throughout 2022 will confirm the magnitude of the CV5 and CV6 pegmatites, as well as the numerous other lithium pegmatites found throughout the Property.

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 indicates 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.

Quality Assurance / Quality Control (QAQC)

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, as well as collection of quarter-core duplicates, at a rate of approximately 5%. The Company also intends to submit approximately 4-5% of the core samples for check analysis at a secondary lab. A total of 1,766 samples, including QAQC, have been submitted for geochemical analysis to the primary lab.

All pegmatite encountered in drill holes CF21-001, 002, 003, and 004 was sampled, including ‘book-end’ sampling of adjacent rock, for a total of 613 samples including QAQC, and were shipped to Activation Laboratories in Ancaster, ON for analysis. Core samples collected were submitted for multi-element analysis (including lithium) by four-acid digestion with ICP-OES finish (package 1F2) and tantalum by INAA (code 5B), with any samples returning >8,000 ppm lithium by 1F2 then reanalysed for lithium by code 8-4 Acid ICP-OES Assay. Industry standard drill core sample preparation was completed and was comprised of crushing to 80% passing 10 mesh, followed by a 250 g riffle split and pulverizing to 95% passing 105 µ (package RX1). 

The Company notes that it carried out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic, and successfully navigated the process to enter the James Bay Region to complete its planned field activities. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec. The Company is also pleased to report that no cases of COVID-19 were documented with respect to the 2021 exploration program.

Figure 1: Aerial view of the CV5-6 pegmatites, looking north-west
https://www.globenewswire.com/NewsRoom/AttachmentNg/d5a53c15-f9b3-4042-84d9-8ad4433d01bb

Figure 2: Preliminary cross-section of drill holes CF21-001 and 003
https://www.globenewswire.com/NewsRoom/AttachmentNg/47583d13-4fc4-43ec-82d5-794f701f89a7

Figure 3: Drill hole locations – CV5-6 pegmatites
https://www.globenewswire.com/NewsRoom/AttachmentNg/855ad32c-7557-4598-8ddb-10569faee2e5

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 projects containing battery, base, and precious metals.

The Company’s flagship asset is the Corvette-FCI Property which includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc., located in the James Bay Region of Québec. The claim blocks are contiguous, and host significant lithium potential highlighted by the assay results of the first drill hole (CF21-001) completed by the Company on the Property, which returned a 146.8 m interval of near continuous pegmatite, assaying 0.93% Li2O and 114 ppm Ta2O5, including 1.09% Li2O and 108 ppm Ta2O5 over 73.0 m, and 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m. 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 the Freeman Creek Property in Idaho, 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; the Golden Silica Property, BC; 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 are the assay results from the third drill hole CF21-003 at Patriot Battery Metals?

CF21-003 returned 1.25% Li₂O over 58.1 m, including 1.80% Li₂O over 33.0 m.

What did drill hole CF21-004 achieve at the Corvette-FCI Property?

Drill hole CF21-004 achieved 0.64% Li₂O over 63.6 m, with a peak of 1.13% Li₂O over 30.0 m.

How do the drill results impact the potential of the CV Lithium Trend?

The results enhance understanding of the CV Lithium Trend, suggesting larger dimensions and significant mineral potential.

What is the significance of the lithium content in the drill results?

The high lithium content in both drill holes indicates a substantial mineralization, pointing to a potential for a large lithium resource.

What is the next step following the drill results?

Additional drilling is planned to further define the size and extent of the pegmatite body at the CV Lithium Trend.