Patriot Battery Metals Inc. [PMET-TSXV; PMT-ASX; PMETF-OTCQX; R9Ga-FSE] reported core assays for the final set of drill holes completed as part of the 2023 winter drill program at its wholly owned Corvette Property in the Eeyou Istchee James Bay region of northern Quebec. The winter phase of the 2023 drill campaign was focused on the CV5 Pegmatite, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
Core assays, for the drill holes reported cover the CV5 Pegmatite’s recently defined eastward extension the high-grade Nova Zone and the recently defined westward extension.
Highlights: Additional high-grade intersections at the Nova Zone, which has been defined over a strike length of at least 1.1 km; 108.0 metres at 2.44% Li2O (195.5 m to 303.5 m), including 37.5 metres at 3.58% Li2O, or 16.0 metres at 4.08% Li2O (CV23-181); 115.3 metres at 1.81% Li2O (175.0 m to 290.3 m), including 89.6 metres at 2.20% Li2O (CV23-177).
Wide widths and strong grades in most westwardly drill hole completed to date at the CV5 Pegmatite – 78.9 metres at 1.00% Li2O, including 34.8 metres at 1.40% Li2O (CV23-184).
Wide widths and strong grades in final drill hole completed during the 2023 winter drill program – 139.2 m at 1.26% Li2O, including 36.2 metres at wide widths and strong grades returned in one of the most eastwardly drill holes completed to date at the CV5 Pegmatite, highlighting the strong potential of area – 36.0 m at 1.36% Li2O, including 17.0 m at 2.31% Li2O (CV23-165).
All core sample assay results for drill holes completed during the 2023 drill winter program have now been reported.
The company is anticipating an announcement in a few weeks time for the initial mineral resource estimate at CV5, which will include all drill holes completed through April 17, 2023 (i.e., the recently completed winter drill program).
Darren L. Smith, Vice President of Exploration, commented: “These final core assay results from the recently completed winter program continue to outpace the industry norm. The CV5 Pegmatite has grown considerably over this program – from 2.2 km to 3.7 km, drill hole to drill hole – with some of the highest grades reported to date at CV5, including numerous significant intervals over 5% Li2O. As we wait for the wildfire situation in Quebec to abate, the team is steadfast focused on delivering an initial mineral resource estimate for CV5 in the coming weeks, which will include all drill holes from the 2023 winter program.”
Blair Way, President and CEO, csaid: “We are very pleased to have received the last batch of assay results from the winter drill program which means our imminent release of the resource remains on track. I am confident that the upcoming maiden resource will demonstrate the significance of the Corvette discovery to the evolving North American and European lithium raw materials markets.”
The company is advancing towards an initial mineral resource estimate for the CV5 Pegmatite.
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the company in 2017 and spans more than 25 km across the Corvette Property. The core area includes an approximate 3.7 km long spodumene pegmatite (the CV5 Pegmatite) and multiple proximal secondary spodumene pegmatite lenses.
To date, six distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV5 Pegmatite and associated lenses, CV4, CV8/12, CV9, CV10, 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.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Corvette Property. The Corvette Property is one of the largest and highest-grade hard rock lithium projects being explored, with over 50 km of strike length over a 214 km2 land package and over 70 lithium-bearing pegmatite outcrops identified to date.
The Corvette Property is situated proximal to the all-weather Trans Taiga Road and Hydro-Québec power line infrastructure in the Eeyou Istchee James Bay region of Quebec. The CV5 Pegmatite has been traced by drilling over a strike length of at least 3.7 km with spodumene pegmatite encountered as deep as 425 metres vertical depth.
In morning trading shares of Patriot Battery Metals gained $0.79 to $15.21.
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