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126.3 m at 1.66% Li2O and 16.1 m at 5.02% Li2O in First Batch of 2024 Drill Results from CV5 at Corvette

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Patriot Battery Metals Inc. reports strong lithium mineralization results from CV5 at Corvette, with wide intervals and high Li2O grades. The 2024 winter drill program aimed to upgrade mineral resource confidence from inferred to indicated category. An updated mineral resource estimate is scheduled for Q3 2024.

Patriot Battery Metals Inc. riporta ottimi risultati di mineralizzazione di litio dal CV5 a Corvette, con intervalli ampi e alte concentrazioni di Li2O. Il programma di perforazione invernale del 2024 mira a migliorare la fiducia nelle risorse minerarie, passando dalla categoria inferita a quella indicata. È previsto un aggiornamento della stima delle risorse minerarie per il terzo trimestre del 2024.
Patriot Battery Metals Inc. informa de resultados fuertes en la mineralización de litio en CV5 en Corvette, con intervalos amplios y altas gradaciones de Li2O. El programa de perforación de invierno de 2024 tiene como objetivo elevar la confianza en los recursos minerales de la categoría inferida a la indicada. Se programó una actualización de la estimación de recursos minerales para el tercer trimestre de 2024.
Patriot Battery Metals Inc.가 Corvette의 CV5에서 리튬 광물화 결과를 보고했으며, 넓은 간격과 높은 Li2O 등급을 보였습니다. 2024년 겨울 시추 프로그램은 추론된 범주에서 나타난 범주로 광물 자원 신뢰도를 향상시키는 것을 목표로 하고 있습니다. 2024년 3분기에 광물 자원 추정치가 업데이트될 예정입니다.
Patriot Battery Metals Inc. rapporte d'excellents résultats de minéralisation en lithium de CV5 à Corvette, avec de larges intervalles et de hautes teneurs en Li2O. Le programme de forage hivernal de 2024 vise à améliorer la confiance dans les ressources minérales de la catégorie inférée à indiquée. Une estimation mise à jour des ressources minérales est prévue pour le troisième trimestre de 2024.
Patriot Battery Metals Inc. berichtet über starke Lithiummineralisierungsergebnisse von CV5 in Corvette, mit weiten Intervallen und hohen Li2O-Gehalten. Das Winterbohrprogramm 2024 zielt darauf ab, das Vertrauen in die mineralischen Ressourcen von der Kategorie 'angenommen' auf 'angezeigt' zu erhöhen. Eine aktualisierte Schätzung der Mineralressourcen ist für das dritte Quartal 2024 geplant.
Positive
  • Strong lithium mineralization results with wide intervals and high Li2O grades.

  • Focused winter drill program to upgrade mineral resource confidence from inferred to indicated category.

  • An updated mineral resource estimate is scheduled for Q3 2024.

Negative
  • None.

VANCOUVER, BC, May 1, 2024 /PRNewswire/ - May 1, 2024 – Sydney, Australia

Highlights

  • Strong lithium mineralization over wide intervals from infill drilling at CV5.
    • 126.3 m at 1.66% Li2O, including 54.9 m at 2.50% Li2O (CV24-374).
    • 100.8 m at 1.97% Li2O, including 69.8 m at 2.52% Li2O (CV24-392).
    • 90.2 m at 1.29% Li2O and 48.5 m at 1.25% Li2O (CV24-377).
    • 94.9 m at 1.10% Li2O, including 26.1 m at 2.16% Li2O (CV24-378).
    • 70.1 m at 2.44% Li2O, including 46.9 m at 3.53% Li2O or 16.1 m at 5.02% Li2O (CV24-401A).
  • Focus of 2024 winter drilling at CV5 was to support an upgrade in mineral resource confidence, from the inferred category to the indicated category.
  • Core assay results are reported herein for 34 drill holes completed at CV5 in 2024.
  • The 2024 winter drill program (now complete), totaled 62,518 m (166 holes), including 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13, of which 46,933 m (132 holes) remain to be reported.
  • An updated mineral resource estimate scheduled for Q3 2024 will focus on upgrading the resource category at CV5 and include a maiden resource at CV13, incorporating all drilling completed through to April 2024.

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce core assay results for drill holes completed in 2024 at the CV5 Spodumene Pegmatite. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate ("MRE") 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.

Darren L. Smith, Vice President of Exploration for the Company, comments: "The 2024 resource infill drilling at CV5 advanced very well over the recently completed winter program, with the first batch of assays producing some stellar results. The team has done a phenomenal job, and all remaining core samples are now at the lab for processing. We are now focused on refining the pegmatite geological model and domaining through integration of the core assay data as it comes in.

"The Company remains on schedule for a Q3 2024 update to the June 2023 maiden mineral resource estimate, which will include both the CV5 and CV13 spodumene pegmatites," added Mr. Smith.

Figure 1: Drill holes completed at the CV5 Spodumene Pegmatite through April 2024. (CNW Group/Patriot Battery Metals Inc)

Drill results for 34 drill holes, completed during the recently completed 2024 winter drill program at the CV5 Spodumene Pegmatite, are reported herein (Figure 1). Highlights include:

  • 126.3 m at 1.66% Li2O, including 54.9 m at 2.50% Li2O (CV24-374).
  • 100.8 m at 1.97% Li2O, including 69.8 m at 2.52% Li2O (CV24-392).
  • 90.2 m at 1.29% Li2O and 48.5 m at 1.25% Li2O (CV24-377).
  • 94.9 m at 1.10% Li2O, including 26.1 m at 2.16% Li2O (CV24-378).
  • 70.1 m at 2.44% Li2O, including 46.9 m at 3.53% Li2O or 16.1 m at 5.02% Li2O (CV24-401A).

The 2024 winter drill program at CV5 focused on resource infill and covered ~3.9 km of the total 4.6 km pegmatite strike length defined to date. The primary objective of the infill drilling is to improve the confidence of the geological model at CV5 to support an upgrade of mineral resources from the inferred category to the indicated category. This includes the delineation of a coherent body of indicated mineral resources to support advanced development and pending economic studies at CV5.

The drill hole results announced herein continue to demonstrate strong grades and continuity of spodumene pegmatite at CV5. In particular, drill hole CV24-374 returned a significantly wider interval of pegmatite than initially modelled based on the June 2023 MRE – 126.3 m (at 1.66% Li2O) intercept versus an expected 86 m intercept, as predicted by the June 2023 MRE's geological model. This additional metreage was also returned from outside of the conceptual pit constraint used in the June 2023 MRE and indicates an area of potential resource growth along strike at this depth in this area (Figure 2).

Additionally, at the far east end of the high-grade Nova Zone, situated between and at a similar depth to drill holes CV23-107 (37.1 m at 2.09% Li2O, including 3.0 m at 5.43% Li2O) and CV23–108 (26.6 m at 2.44% Li2O, including 5.0 m at 4.30% Li2O), hole CV24-401A returned a significantly wider, higher-grade intercept than expected – 46.9 m at 3.53% Li2O including 16.1 m at 5.02% Li2O within a wider high-grade zone of 70.1 m at 2.44% Li2O (Figure 3 and Figure 4).

The 2024 winter drill program, which concluded in mid-April at the Property, totalled 62,518 m (166 holes) – 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13, of which 46,933 m (132 holes) remain to be reported. Core samples for all drill holes completed during the program have now arrived at the laboratory with analytical processing underway. The infill drill program at CV5 is scheduled to resume early summer and continue into the fall of this year.

An updated MRE for the Corvette Project, incorporating drilling through April 2024, is scheduled for Q3 2024. This MRE update will include both the CV5 and CV13 spodumene pegmatites and a total anticipated metreage of 134,129 m (369 holes) and 29,121 m (133 holes), respectively.

Collectively, through April 2024, drilling has traced the CV5 Spodumene Pegmatite over a strike length of 4.6 km, which remains open along strike at both ends and to depth over a significant portion of its length.

Core sample assays for drill holes reported herein from the CV5 Spodumene Pegmatite are presented in Table 1 for all pegmatite intersections >2 m. Drill hole locations and attributes are presented in Table 2.

Figure 2: Geological cross-section of CV5 geological model presenting April 2024 pegmatite interpretation compared to the June 2023 pegmatite interpretation. (CNW Group/Patriot Battery Metals Inc)

Figure 3: High-grade, spodumene pegmatite drill intercept in hole CV24-401A at CV5. Core grades ~<percent>5.0%</percent> Li2O over interval presented (~320.7 m to 338.3 m) (CNW Group/Patriot Battery Metals Inc)

Figure 4: Large spodumene crystals with minor mafic inclusions in quartz pegmatite, drill hole CV24-401A at 318 m depth in Nova Zone at CV5. (CNW Group/Patriot Battery Metals Inc)

Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite. (CNW Group/Patriot Battery Metals Inc)

Table 2: Attributes for drill holes reported herein at the CV5 spodumene pegmatite. (CNW Group/Patriot Battery Metals Inc)

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. Largest lithium pegmatite resource in the Americas based on contained LCE.

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 sample duplicates was completed to assess analytical precision, 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 Corvette Property. The core area includes the approximate 4.6 km long CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1.

To date, eight (8) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, and the recently discovered CV14. 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.

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 remains 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. Largest lithium pegmatite resource in the Americas based on contained LCE.

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.

"KEN BRINSDEN"                                         

Kenneth Brinsden, President, CEO, & Managing 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, technical assessments, 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. Forward-looking statements in this release include, but are not limited to, statements concerning: an upgrade in mineral resource confidence, from the inferred category to the indicated category on the Property, the completion of an updated MRE on the Property, the processing and receipt of all remaining core samples and statements relating to the continuity of spodumene pegmatite at CV5.

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 that proposed exploration and mineral resource estimate work on the Property will continue as expected, and that exploration and development results continue to support management's current plans for Property development.

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 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 announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.

Appendix 1 – JORC Code 2012 Table 1 (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 gammasondes, 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 0.5 m
    and the maximum sample length is typically 2.0 m.
    Targeted individual pegmatite sample lengths are 1.0 to
    1.5 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 include 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 duplicates was completed to assess analytical
    precision, 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.

  • 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.

 

  • At CV5, drill hole collar spacing is dominantly grid
    based. Several collars are typically completed from the
    same pad at varied orientations targeting pegmatite
    pierce points of ~50 to 100 m spacing.

  • At CV13, drill hole spacing is dominantly grid based at
    ~100 m; however, collar locations and hole
    orientations may vary widely, which reflect the varied
    orientation of the pegmatite body along strike.

  • At CV9, drill hole collar spacing is irregular with varied
    hole orientations and multiple collars on the same pad.

  • It is interpreted that the large majority of the drill hole
    spacing at each pegmatite is sufficient to support a
    mineral resource estimate.

  • Core sample lengths typically range from 0.5 to 2.0 m
    and average ~1.0 to 1.5 m. Sampling is continuous
    within all pegmatite encountered in the drill hole.

 

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.

  • The principal mineralized bodies are relatively
    undeformed and very competent, although have some
    meaningful structural control.

  • 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.

  • At CV13, the principal pegmatite body has a shallow
    varied strike and northerly dip.

  • At CV9, the orientation and geometry of the pegmatite
    is not well understood. The pegmatite is currently
    interpreted to be comprised of a single principal dyke,
    which outcrops at surface, has a steep northerly dip,
    and is moderately plunging to the east-southeast.

 

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 (through CV23-
    190) 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 424 CDC
    claims located in the James Bay Region of Quebec, with
    Patriot Battery Metals Inc. being the registered title
    holder for all of the claims. The northern border of the
    Property's primary claim block is located within
    approximately 6 km to the south of the Trans-Taiga
    Road and powerline infrastructure corridor. 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 and CV9
    spodumenepegmatites are located approximately 3 km
    west-southwest and 14 km west of CV5, respectively.
  • 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 CV13Spodumene
    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 February 2025 to
    November 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, CV13, and CV9, 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 a table
    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 length
    weighted average grade 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').

 

  • At CV5, geological modelling is ongoing on a hole-by-
    hole basis and as assays are received. 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').

  • At CV13, geological modelling is ongoing on a hole-by-
    hole basis and as assays are received. However, current
    interpretation supports an upper and lower pegmatite
    body, each trending sub-parallel to each other with a
    shallow northerly dip (collectively, the 'CV13
    Spodumene Pegmatite').

  • At CV9, geological modelling is ongoing on a hole-by-
    hole basis and as assays are received. However, current
    interpretation indicates CV9 is comprised of a single
    principal dyke, which outcrops at surface, has a steep
    northerly dip, and is moderately plunging to the east-
    southeast. A strike length of 450 m has been delineated
    through drilling and outcrop.

  • 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 site
    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 Pegmatite and adjacent subordinate lenses, as well
    as the CV13 Pegmatite. A follow-up drill program at
    the CV9 Spodumene Pegmatite is also anticipated

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/126-3-m-at-1-66-li2o-and-16-1-m-at-5-02-li2o-in-first-batch-of-2024-drill-results-from-cv5-at-corvette-302132986.html

SOURCE Patriot Battery Metals Inc

FAQ

What are the key highlights of the 2024 drill results from CV5 at Corvette?

Core assay results show strong lithium mineralization with wide intervals and high Li2O grades.

Where is the Corvette Property located?

The Corvette Property is located in the Eeyou Istchee James Bay region of Quebec.

What is the stock symbol for Patriot Battery Metals Inc.?

The stock symbol for Patriot Battery Metals Inc. is PMETF.

When is the updated mineral resource estimate scheduled?

The updated mineral resource estimate is scheduled for Q3 2024.

Patriot Battery Metals Inc.

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