Preliminary Mineralogy Confirms Spodumene as the Dominant Li-bearing Mineral at the CV5 Pegmatite, Preliminary Metallurgical Program Initiated, Corvette Property, Quebec

Rhea-AI Summary

Patriot Battery Metals Inc. has released initial results from its Corvette Property, confirming spodumene as the primary lithium-bearing mineral. The samples from drill holes CF21-001, 002, 004, and 014 show that spodumene accounts for 86-99% of lithium deportment in samples with grades >0.4% Li₂O. The company has initiated a preliminary metallurgical program at SGS Canada using 225 kg of drill core samples, aiming to produce a spodumene concentrate with >6% Li₂O. The findings support the significant lithium potential at the Corvette Property.

Positive

• Spodumene is confirmed as the dominant lithium-bearing mineral, comprising 86-99% of lithium deportment in high-grade samples.
• Preliminary metallurgical program initiated, focusing on producing spodumene concentrate with >6% Li₂O.
• Initial mineral analysis supports significant lithium potential at the Corvette Property, enhancing the company's growth prospects.

Negative

• None.

Highlights

• Initial mineralogy completed on select samples from drill holes CF21-001 and 002 (CV5 Pegmatite), 004 (CV6 Pegmatite), and 014 (CV12 Pegmatite), indicate:
  • Spodumene is the dominant lithium-bearing mineral present – of the samples probed grading >0.4% Li₂O, spodumene accounts for 86-99% of the lithium deportment
  • No significant petalite, lithium-phosphate minerals, or apatite present
  • Columbite/tantalite are the dominant tantalum-bearing minerals present
• Preliminary Metallurgical program initiated at SGS Canada (Lakefield) supported by 225 kg of sample drill core from holes CF21-001 and 002 at the CV5 Pegmatite
  • Primary objective is to develop preliminary flowsheet to produce spodumene concentrate – grading >6% Li₂O – at high recovery
  • Focused on head sample characterization and mineralogy, grindability, heavy liquid separation (HLS), dense media separation (DMS), magnetic separation, and flotation
    

VANCOUVER, British Columbia, June 07, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce the results of initial mineralogical characterization of drill core samples from the Company’s wholly owned Corvette Property (the “Property”), as well as the commencement of a preliminary metallurgical test program. The Property is located proximal to the regional and all-weather Trans-Taiga Road and powerline infrastructure, within the James Bay Region of Quebec.

Initial mineralogical work was completed by SGS Canada on twenty-two (22) drill core analytical reject samples collected across four (4) of the first five (5) drill holes to target lithium pegmatite in 2021 – CF21-001 and 002 (CV5 Pegmatite), CF21-004 (CV6 Pegmatite), and CF21-014 (CV12 Pegmatite). All samples were analyzed by XRD (X-ray diffraction) for modal mineralogy, four (4) samples by TIMA-X (Quantitative Evaluation of Materials by Scanning Electron Microscopy) for mineral associations and elemental deportment, and four (4) samples by Electron Probe Micro-Analysis (EPMA) and Laser Ablation by Inductively Coupled Plasma Mass Spectrometry (LA by ICP-MS) for mineral chemistry. The purpose of the mineralogy work is to provide a preliminary characterization of the lithium pegmatite at Corvette, and to orient ahead of preliminary metallurgical (mineral processing) test work.

The modal mineralogies for the pegmatites, as determined by XRD, support geological core logging. The major minerals include quartz, feldspar (albite, microcline), and spodumene, with minor to accessory muscovite and tourmaline. Uncommon accessory minerals (typically <3% if present) include lepidolite, chlorite, biotite, and beryl.

The combined results of the mineralogy and mineral chemistry indicate that spodumene is the dominant lithium-bearing mineral at Corvette. No petalite or lithium phosphate minerals were observed from XRD; although, trace to minor lepidolite (Li mica) and lithium bearing muscovite and tourmaline are present in some samples. However, where spodumene is present, it is the dominant lithium-bearing mineral. Moreover, of the samples probed grading >0.4% Li₂O, spodumene accounts for 86-99% of the lithium deportment, further supporting that lithium grade is carried by spodumene. Collectively, these preliminary results indicate that the mineral spodumene carries the vast majority of the lithium at Corvette and supports the visual observations by the field geologists.

An additional suite of core billets and analytical rejects are being compiled for follow-up mineralogical analysis that will include XRD, TIMA-X, EPMA, LA by ICP-MS, as well as thin section analysis. The work will improve the understanding of the pegmatites at Corvette and guide metallurgical test programs.

In addition to the initial mineralogical work, a preliminary metallurgical test program is now underway at SGS Canada’s Lakefield, ON, facility. Approximately 225kg of quarter-core NQ samples, comprising mineralized intervals from drill holes CF21-001 and 002, have been received by the lab for the initial testwork. Material preparation has recently been completed and test work begun.

The testing is anticipated to include head sample characterization and mineralogy, grindability, heavy liquid separation (HLS), dense media separation (DMS), magnetic separation, and flotation. The primary objective of the preliminary metallurgical program is to evaluate the beneficiation performance of the Corvette material using a conventional lithium pegmatite flowsheet, and to produce a spodumene concentrate of >6% Li₂O and <1% Fe₂O₃, while maximizing lithium recovery.

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 (the CV5-1 Corridor), which is part of the more than 25-km long CV Lithium Trend extending across the Property. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, CV7, and CV11 pegmatites and has returned drill intercepts of 0.94% Li₂O and 117 ppm Ta₂O₅ over 155.1 m (CF21-002), and 2.22% Li₂O over 70.1 m, including 3.01% Li₂O over 40.7 m (CV22-017). Drilling to date indicates a principal pegmatite body of significant size and has been traced by drilling over a distance of at least 1.4 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 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 CV5-1 spodumene pegmatite corridor with drill intercepts of 0.94% Li₂O and 117 ppm Ta₂O₅ over 155.1 m (CF21-002), and 2.22% Li₂O over 70.1 m, including 3.01% Li₂O 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 (778) 945-2950 , 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 were the initial findings of Patriot Battery Metals regarding lithium mineralization at the Corvette Property?

Patriot Battery Metals found that spodumene is the dominant lithium-bearing mineral, accounting for 86-99% of lithium deportment in samples with grades >0.4% Li₂O.

What is the goal of the preliminary metallurgical program initiated by Patriot Battery Metals?

The goal is to develop a preliminary flowsheet to produce a spodumene concentrate with >6% Li₂O at high recovery rates.

How much material is being tested in the preliminary metallurgical program?

Approximately 225 kg of sample drill core from drill holes CF21-001 and 002 are being tested in the metallurgical program.

What is the significance of the CV Lithium Trend for Patriot Battery Metals?

The CV Lithium Trend is an emerging spodumene pegmatite district that has shown significant lithium potential, indicating a strong foundation for future mining operations.