VANCOUVER, BC, Nov. 12, 2023 /PRNewswire/ - November 13, 2023 – SYDNEY, Australia
Highlights
- Widest mineralized drill intersection to date at the Corvette Property, returned from infill drilling:
- 172.4 m at 0.93% Li2O, including 34.5 m at 1.85% Li2O and 26.1 m at 1.81% Li2O (CV23–199).
- Assays for the first series of holes completed over the recently announced western extension at CV5 have returned well-mineralized drill intersections, situated outside of the June 2023 mineral resource estimate1 (see news release dated July 30, 2023).
- 46.3 m at 1.20% Li2O and 34.8 m at 1.59% Li2O (CV23-209)
- 28.8 m at 1.63% Li2O, including 13.0 m at 2.19% Li2O (CV23-208)
- 17.0 m at 1.10% Li2O, 16.3 m at 0.99% Li2O, and 9.3 m at 2.55% Li2O (CV23–201)
- 18.7 m at 1.52% Li2O (CV23-205)
- Drilling at the Corvette Property will be paused shortly through to early January due to the onset of winter conditions. Core processing will continue into December, with an organized ramp up to ten (10) drill rigs beginning early January 2024.
- Summary drill program updates for all holes completed over the summer-fall program at the CV5, CV13, and CV9 spodumene pegmatites will be announced over the coming weeks and include hole locations and attributes, and pegmatite intervals.
- Core sample assays for thirteen (13) drill holes from CV5 are reported herein. Core sample assays remain to be announced for more than 140 drill holes from the summer-fall program.
Blair Way, Company Director, President, and CEO, comments: "The Corvette Property continues to deliver, with our widest intercept to date. Returned core sample assays indicating wide and high-grade pegmatite intercepts continue to be returned at CV5. The initial core assay results for the drill holes over the recently announced western extension at CV5 continue to demonstrate that high grades over material widths are present over a more than 4 km strike length. We would also like to thank our shareholders for their patience with reporting of analytical results this summer-fall. The wildfires prevented shipping of samples to the laboratory for much of the summer, and also impacted the restart of laboratories after the wildfires. The situation is improving, and assays are flowing more regularly from the laboratory. We will continue to announce results in batches to ensure clarity of locations to readers."
Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSXV: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce core assays for the first series of drill holes completed at the CV5 Spodumene Pegmatite as part of the ongoing 2023 summer-fall drill program being completed at its wholly owned Corvette Property (the "Property" or "Project"), located in the Eeyou Istchee James Bay region of Quebec. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1, is situated approximately 13.5 km south of the regional and all–weather Trans-Taiga Road and powerline infrastructure.
Core assay results from the first series of drill holes completed this year at the CV5 Spodumene Pegmatite (13 holes in total) are reported herein. These include drill holes completed for resource infill (i.e., to improve resource confidence from the inferred category to the indicated category), hydrogeological model support, as well as those completed over the recently announced western extension (see news release dated September 24, 2023). Analytical results for all holes reported herein for pegmatite intervals >2 m are presented in Table 1 and drill attributes in Table 2.
Recently Announced 650 m Western Extension at CV5
Core assay results are announced herein for seven (7) drill holes completed over the recently announced western extension at CV5 (see news release dated September 24, 2023). This series of holes represent approximately 500 m of the 650 m of new strike length (which remains open) and are not included in the June 2023 mineral resource estimate for CV5 (see news release dated July 30, 2023). These drill holes tested various depths from surface and confirm high grades of lithium continue in this direction (Figure 1 and Figure 2). A core photo of a well-mineralized interval from CV23–209 is presented in Figure 5. Results include:
- 46.3 m at 1.20% Li2O and 34.8 m at 1.59% Li2O (CV23-209),
- 28.8 m at 1.63% Li2O, including 13.0 m at 2.19% Li2O (CV23-208),
- 17.0 m at 1.10% Li2O, 16.3 m at 0.99% Li2O, and 9.3 m at 2.55% Li2O (CV23–201), and
- 18.7 m at 1.52% Li2O (CV23-205).
This initial batch of core assays returned from drill holes over the western extension supports that the interpreted bifurcation of the CV5 Pegmatite's principal dyke, into two (2) distinct dykes moving westerly, remains well-mineralized along each. For example, drill hole CV23-208 returned 7.6 m at 2.64% Li2O, including 5.1 m at 3.50% Li2O in one dyke, and 28.8 m at 1.63% Li2O, including 13.0 m at 2.19% Li2O in the other.
Infill Drilling at CV5
Drill hole CV23-199, primarily planned and completed as a hydrogeological hole, also doubled as a mineral resource infill hole for CV5 and returned the widest mineralized drill intersection to date on the Property at the CV5 Spodumene Pegmatite – 172.4 m at 0.93% Li2O, including 34.5 m at 1.85% Li2O and 26.1 m at 1.81% Li2O (Figure 1, Figure 2, and Figure 3). The 172.4 m intersection is comprised of a near-continuous pegmatite interval with only 1.8 m of non-pegmatite dilution. A core photo of a well-mineralized interval from CV23-199 is presented in Figure 4.
Since CV23-199 was designed as a vertical hole, it is more oblique to the dip of CV5 Pegmatite's principal dyke than is typical. True width of the pegmatite in the area of drill hole CV23-199 is estimated to approximate 125 m at a depth of 125 m.
Hydrogeological results to date at CV5 have not shown anything of concern. The initial field test program is now complete, which included multiple drill holes and observation wells in and around the deposit, permeability tests, and water level measurements. The hydrogeological numerical model and a preliminary report are now being prepared.
Although multiple land-based drill holes targeting resource infill have been completed over the summer-fall program, the majority of the infill drilling to date has focused on barge-based drilling over the shallow glacial lake, which covers a portion of the deposit. These holes targeted locations where ice formation in winter may not be sufficient to support ice-based drilling. Core sample assays results are pending for these holes.
Significant Drilling and Assays Results to Come
Drilling at the Property is anticipated to be paused shortly due to the onset of winter conditions. Work continues on the completion of the Company's exploration camp and all-season exploration access road to the CV5 Pegmatite. Core processing will continue into December, with a planned ramp up to ten (10) drill rigs beginning in early January 2024. The Company's exploration camp and all-season exploration access road to CV5 are anticipated to be completed this fall, ahead of the commencement of the 2024 drill program.
As announced September 24, 2023, the CV5 Spodumene Pegmatite has been traced continuously by drilling over a lateral distance of at least 4.35 km and remains open. Summary drill program updates for all holes completed over the 2023 summer-fall program at the CV5, CV13, and CV9 spodumene pegmatites will be announced over the coming weeks and will include hole locations and attributes, as well as listings of all core-length pegmatite intervals greater than 2 m. Through November 9, 2023, over the summer-fall program, approximately 42,900 m (166 holes) have been completed. This includes 25,200 m (78 holes) at CV5, 13,700 m (70 holes) at CV13, and 4,000 m (18 holes) at CV9.
Core assays for thirteen (13) drill holes from CV5 are reported herein. Core sample assays remain to be announced for more than 140 drill holes completed over the 2023 summer-fall program. The forest fires and road closures in western parts of the Eeyou Istchee James Bay significantly impacted the summer drill season with access prevented for almost 10 weeks. The Company was able to re-commence drill operations at the Property in August; however, sample shipments to the lab were not able to be resumed until several weeks later due to the continued road closures at the time. Core samples from a large number of drill holes have now arrived at the laboratory with processing underway, and shipments are now back to their regular weekly schedule. Results are anticipated to be reported in batches per pegmatite (CV5, CV13, and CV9) as received.
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.
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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 at a rate of approximately 5%. Additionally, analysis of pulp-split and coarse-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 Val-d'Or, QC, for sample preparation (code PRP89 special) which includes drying at 105°C, crush to 90% 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 (codes GE_ICP91A50 and GE_IMS91A50).
About the CV Lithium Trend
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 Property. The core area includes the approximate 4.35 km long CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1.
To date, seven (7) distinct clusters of lithium pegmatite have been discovered across the Property – CV4, CV5, CV8, CV9, CV10, CV12, and CV13. 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. Further, the high number of well-mineralized pegmatites along 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/Competent Person
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 Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.
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.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada, and proximal to regional road and powerline infrastructure. The Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1 and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of prospective trend that remain to be assessed.
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.
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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.
"BLAIR WAY"
Blair Way, President, CEO, & 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, financial position, 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. In particular and without limitation, this news release contains forward-looking statements pertaining to further exploration of the Property, including the drilling, processing and reporting of core assay samples, the development of the Company's exploration camp and all-season exploration access road to the Property, as well as statement concerning the future beliefs of the results to be returned and the interpretation of such results against the Property generally.
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 the total funding required to complete the development of the Company's lithium mineral project at the Corvette Property (the "Corvette Project"), including the drilling program.
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 previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.
Appendix 1 – JORC Code 2012 Table 1 information required by ASX Listing Rule 5.7.1
Section 1 – Sampling Techniques and Data
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 Val-d'Or, QC, for sample
preparation (code PRP89 special) which included
drying at 105°C, crush to 90% passing 2 mm, riffle split
250 g, and pulverize 85% passing 75 microns. Core
sample 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 (codes GE_ICP91A50
and GE_IMS91A50).
|
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 includes TCR, RQD,
ISRM, and Q-Method. Core recovery is very good and
typically exceeds 90%.
|
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 5% each. 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 at a secondary lab. - 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 Val-d'Or, QC, for standard
sample preparation (code PRP89 special) which
included drying at 105°C, crush to 90% passing 2 mm,
riffle split 250 g, and pulverize 85% passing 75
microns. Core sample 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 (codes
GE_ICP91A50 and GE_IMS91A50). - 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 temporarily using a handheld
GPS). - 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.
| - 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.
Subsurface pegmatite pierce points generally reflect the
collar spacing at CV5; however, are subject to typical
downhole deviation. - It is interpreted that the drill spacing will be 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. - Sample compositing has not been applied
|
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. - 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.
|
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 Val-d'Or, QC, being
tracked during shipment along with Chain of Custody.
Upon arrival at the laboratory, the samples were cross-
referenced with the shipping manifest to confirm all
samples were accounted for. At the laboratory, sample
bags are evaluated for tampering.
|
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, Quebec,
Canada", by Alex Knox, M.Sc., P.Geol., Issue Date of
June 27th, 2022.) - A review of the sample procedures through the
Company's 2023 winter drill program 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.
|
Section 2 – Reporting of Exploration Results
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 417 CDC claims
located in the James Bay Region of Quebec, with
Patriot Battery Metals Inc. the registered title holder for
all of the claims. The Property's northern border is
located within approximately 6 km to the south of the
Trans-Taiga Road and powerline infrastructure
corridor. At the Property, the CV5 Spodumene
Pegmatite is situated approximately 13.5 km south of
the regional and all-weather Trans-Taiga Road and
powerline infrastructure. The CV13 Spodumene
Pegmatite is located approximately 3.15 km along
strike to the southwest of the CV5 Spodumene
Pegmatite. - The Company holds 100% interest in the Property
subject to various royalty obligations depending on
original acquisition agreements. DG Resources
Management holds a 2% NSR (no buyback) on 76
claims, D.B.A. Canadian Mining House holds a 2%
NSR on 50 claims (half buyback for $2M) and Osisko
Gold Royalties holds a sliding scale NSR of 1.5-3.5%
on precious metals, and 2% on all other products, over
111 claims. The vast majority of the CV13 Spodumene
Pegmatite, as is currently delineated, is not subject to a
royalty. - 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 September 2024 to
September 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, James Bay Region, Québec,
Canada", 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.
|
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 and CV13, 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:- easting and northing of the drill hole
collar - elevation or RL (Reduced Level –
elevation above sea level in metres) of - the drill hole collar
- dip and azimuth of the hole
- down hole length and interception
depth - 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 Table 2
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 average 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').
|
- Geological modelling is ongoing on a hole-by-hole
basis as CV5 is drilled. 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') - 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 baseline
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
>70% recovery on both CV5 and CV13 pegmatite
material, indicating DMS as a viable primary process
approach, and that both CV5 and CV13 could
potentially feed the same process plant. A DMS test on
CV5 Spodumene Pegmatite material returned a
spodumene concentrate grading 5.8% Li2O at 79%
recovery, strongly indicating potential for a DMS only
operation to be applicable. - 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 Spodumene Pegmatite and adjacent subordinate
lenses, as well as the CV13 Spodumene Pegmatite. At
CV5, mineralization remains open along strike at both
ends, and to depth along a significant portion of its
length. At CV13, mineralization remains open along
strike at both ends, and to depth.
|
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SOURCE Patriot Battery Metals Inc
