Patriot Collars in Spodumene Pegmatite over 22.4 m in First Drill Hole at CV13, and Extends Strike of Spodumene Mineralization to 2.1 km at the CV5 Corridor, Corvette Property, Quebec

Rhea-AI Summary

Patriot Battery Metals has announced significant progress in its 2022 drill campaign at the Corvette Property in Quebec. The first drill hole at the CV13 pegmatite cluster intersected spodumene pegmatite up to 25.5 m deep, with a second hole also showing promising mineralization. The CV5 pegmatite corridor has extended its strike length to approximately 2,100 m, including the discovery of the largest spodumene crystal to date, measuring 1.8 m. Overall, the drill campaign has produced around 19,199 m over 65 holes, indicating strong lithium potential.

Positive

• First drill hole at CV13 demonstrated spodumene pegmatite with 25.5 m of mineralization.
• Total spodumene pegmatite strike length at CV5 now approximately 2,100 m.
• Largest spodumene crystal of 1.8 m discovered in drill hole CV22-066.
• Strong lithium potential indicated by drill results from multiple holes.

Negative

• None.

Highlights

CV13 Pegmatite Cluster

• Spodumene pegmatite intersected in first drill hole (CV22-077) to target the CV13 pegmatite cluster
  • Spodumene pegmatite intercept from surface to 25.5 m (3.1 m to 25.5 m)
  • Drill hole located approximately 30 m from outcrop
  • Large, centimetre to decimetre scale spodumene crystals
  • Core currently being processed at site (no assays received)
• Approximately 2,500 m of drilling planned in 2022 for initial testing at depth of the CV13 pegmatite cluster

CV5 Pegmatite Corridor

• Spodumene-bearing pegmatite intersections in drill holes CV22-074 and 079 have extended the strike length of mineralized pegmatite at the CV5 corridor further to the west and east, respectively, for a collective mineralized pegmatite strike length of at least 2,100 m and remains open in all directions.
• Largest spodumene crystal to date (1.8 m) intersected in drill hole CV22-066
• As of September 15^th, 2022, a total of approximately 19,199 m over sixty-five (65) holes have now been completed over the 2022 drill campaign – 4,345 m over 20 holes in the winter program, and 14,854 m over forty-five (45) holes in the summer program.
  

VANCOUVER, British Columbia, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to provide an update on the 2022 drill campaign at its wholly owned Corvette Property (the “Property”), located in the James Bay Region of Quebec. The primary drill area is the CV5 pegmatite corridor, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure with two drills currently coring. The Company has recently positioned the third drill rig at the CV13 pegmatite cluster for initial drill testing.

Blair Way, CEO, President and Director, comments: “The summer drill program has been exceptional. I am at site this week with the team, including some of the board members, and look forward to going over in person what we have found to date this summer. It is an exciting time for the Company as we commence detailed planning for the winter drill program.”

CV13 Pegmatite Cluster

The CV13 pegmatite cluster is characterized by two (2) contiguous trends, totalling approximately 2.3 km in combined strike length, and are situated on geological trend between the CV5 pegmatite corridor and the CV8-12 pegmatite cluster. The initial drill hole at CV13 (CV22-077) targeted the largest outcrop (~100 m long x 15 m wide) of the cluster, situated within the apex of a regional structural flexure – a highly favourable geological setting for lithium pegmatite emplacement. The hole was collard approximately 30 m back from the outcrop – at an azimuth of 200° and dip of -45° – and collared in spodumene pegmatite to a depth of approximately 25.5 m (starting from 3.1 m) (Figures 1 and 2). A second hole (CV22-081) was completed at the same pad and azimuth at a dip of -80° to catch the lower contact of the pegmatite before stepping further back from the outcrop for the third hole, which will target both the upper and lower contacts of the pegmatite. This second drill hole (CV22-081) also collared in spodumene pegmatite to a depth of approximately 18.4 m.

A preliminary review of the core indicates that the mineralization style in both CV13 drill holes is similar to that of the principal pegmatite at the CV5 corridor, characterized by coarse-grained spodumene hosted within a quartz-feldspar pegmatite. The spodumene mineralization consists off-white to pale-green crystals of centimetre to decimetre scale, which are relatively free of inclusions (Figures 3, 4, and 5).

A total of approximately 2,500 m is planned over ten (10) to fifteen (15) drill holes at the CV13 pegmatite cluster this fall, weather permitting, and will test several areas along the trend where spodumene outcrop is present. The Company intends to follow-up on the results in a winter 2023 drill program.

CV5 Pegmatite Corridor

The Company continues to advance the drilling at the CV5 pegmatite corridor with two (2) drill rigs currently operating. Recent drill holes have targeted the westerly (CV22-074) and easterly (CV22-079) strike extensions of the mineralized body(s) with each intersecting spodumene pegmatite and, collectively, extend the strike length an additional 100 m for a total spodumene pegmatite strike length of approximately 2,100 m (Figure 6). Mineralization remains open along strike at both ends, and to depth.

In addition, the Company has intersected the largest spodumene crystal to date in drill core at 1.8 m (Figures 7 and 8). The crystal was encountered at a depth of 225 m (core length) in drill hole CV22-066 within a wide interval (113.4 m) of mineralized pegmatite. All core samples from CV22-066 are currently enroute to SGS Canada’s analytical laboratory in Lakefield, ON, for geochemical analysis. Drill hole CV22-066 is located at the eastern end of the CV5 pegmatite corridor.

A total of three (3) drill rigs are currently operating at the Corvette Property – two (2) targeting the CV5 pegmatite corridor and one (1) targeting the CV13 pegmatite cluster. As of September 15^th, 2022, a total of approximately 19,199 m over sixty-five (65) holes have now been completed over the 2022 drill campaign – 4,345 m over 20 holes in the winter program, and 14,854 m over forty-five (45) holes in the summer program.

Drilling is anticipated to continue through to mid-October, at which time the 2022 drill program will conclude with final core processing on site and shipment to the lab for analysis. The Company is currently planning an aggressive 2023 drill campaign at Corvette and will announce details in the coming weeks.

Figure 1: Drill hole map at the CV13 pegmatite cluster - 
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Figure 2: Drill hole CV22-077 targeting large outcrop at CV13 pegmatite cluster - 
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Figure 3: Coarse-grained spodumene crystals in drill hole CV22-077 at the CV13 pegmatite cluster - 
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Figure 4: Coarse-grained spodumene crystals in drill hole CV22-077 at the CV13 pegmatite cluster - 
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Figure 5: Spodumene pegmatite core at the drill from first hole to target the CV13 pegmatite cluster (CV22-077) - 
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Figure 6: Drill hole collar locations at the CV5 corridor for holes completed through September 15^th, 2022, as part of the 2021-2022 drill campaigns – CF21-001 through 004, and CV22-015 through 076, 078, 079, and 080. - 
https://www.globenewswire.com/NewsRoom/AttachmentNg/c1e1c35b-18ec-40d6-ab6e-3462724d7c81

Figure 7: A 1.8 m long spodumene crystal at a depth of 225 m in drill hole CV22-066 - 
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Figure 8: A piece of 1.8 m long spodumene crystal at a depth of 225 m in drill hole CV22-066 - 
https://www.globenewswire.com/NewsRoom/AttachmentNg/39989f95-07bd-4058-9d3a-c01b794b703b

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%. Additionally, analysis of pulp-split and course-split sample duplicates were completed to assess analytical precision at different stages of the laboratory preparation process, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.

All core samples collected were shipped to SGS Canada’s laboratory in Lakefield, ON, for standard sample preparation (code PRP89) which includes drying at 105°C, crush to 75% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50).

About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 2 km long corridor hosting numerous spodumene pegmatites, highlighted by the large CV1 and CV5 pegmatite outcrops, and has returned drill intercepts of 1.65% Li₂O and 193 ppm Ta₂O₅ over 159.7 m (CV22-042), 1.22% Li₂O and 138 ppm Ta₂O₅ over 152.8 m (CV22-030), 2.13% Li₂O and 163 ppm Ta₂O₅ over 86.2 m (CV22-044), and 2.22% Li₂O and 147 ppm Ta₂O₅ over 70.1 m, including 3.01% Li₂O and 160 ppm Ta₂O₅ over 40.7 m (CV22-017). Drilling to date indicates a principal spodumene-bearing pegmatite body of significant size and has been traced by drilling over a distance of at least 2.1 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 100% owned 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 spodumene pegmatite corridor with drill intercepts of 1.65% Li₂O and 193 ppm Ta₂O₅ over 159.7 m (CV22-042), and 2.22% Li₂O and 147 ppm Ta₂O₅ over 70.1 m, including 3.01% Li₂O and 160 ppm Ta₂O₅ 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 (604) 279-8709, 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 latest drilling results for PMETF at the CV13 pegmatite cluster?

The first drill hole at CV13 intersected spodumene pegmatite from 3.1 m to 25.5 m, showing strong mineralization.

How much drilling has been conducted at the Corvette Property by PMETF in 2022?

Patriot Battery Metals has completed approximately 19,199 m over 65 drill holes during its 2022 campaign.

What is the significance of the spodumene crystal found in drill hole CV22-066?

The spodumene crystal measured 1.8 m, marking the largest crystal recorded to date, indicating high mineral quality.

What is the current strike length of the CV5 pegmatite corridor for PMETF?

The CV5 pegmatite corridor has a total strike length of approximately 2,100 m as of the latest reports.

What are the drilling plans for PMETF at the Corvette Property in 2023?

Patriot Battery Metals plans to initiate an aggressive drilling campaign in 2023, following up on current results.