- Mobilization for the 2023 drill campaign has commenced targeting a minimum of 20,000 m over the January to April period (the ‘winter program’)
- At least five (5) drill rigs will be utilized to complete the winter program – largest single lithium drill program undertaken in recent times in
Quebec - Objective is to extend the 2,200 m strike length of the CV5 Pegmatite system to the east and west and to continue delineation of the recent CV13 discovery, situated ~4.3 km along geological trend to the west-southwest
- Construction of winter road almost complete – will improve efficiency and reduce helicopter costs
- Core assay results for thirty-eight (38) drill holes from the 2022 drill campaign remain to be reported – twenty-four (24) at the CV5 Pegmatite cluster and fourteen (14) at the CV13 Pegmatite cluster
The 2023 winter drill program will be more expansive than the 2022 winter drill program, beginning with three (3) drill rigs in January and increasing to five (5) drill rigs from early February through mid-April. A minimum meterage of 20,000 m (NQ core size) is anticipated to be completed over the period. The primary objectives of the drill program are to further delineate the extent of the CV5 Pegmatite, as well as infill drilling to improve the geological model to achieve indicated mineral resource confidence to support a future prefeasibility study. The winter drilling will primarily target the eastern extensions of the CV5 spodumene pegmatite and secondary lenses, moving towards the CV4 Pegmatite cluster situated approximately 2.5 km along strike. An understanding of the near-surface lateral behavior of the CV5 Pegmatite is needed to refine locations of certain infrastructures required for Prefeasibility level advancement, as well as help define associated field programs planned for 2023.
The construction of the approximately 20 km long winter road is nearing completion and will provide direct road access from the all-season
The overall 2023 field campaign will have multiple facets including advancing the CV5 Pegmatite to an initial mineral resource estimate, scheduled for the first half of 2023, in addition to further delineation at the CV13 Pegmatite Cluster. The drill programs will be coupled with numerous multi-disciplinary studies (environmental, hydrological, hydrogeological, geomechanical, metallurgical, etc.) as the Project advances aggressively towards Prefeasibility (see news release dated
“This is a significant milestone for the Company as we embark on the second winter drill season on the
The first drill hole collar of the 2023 drill campaign is anticipated shortly, with the first three (3) drill rigs and equipment currently on site and crews now being mobilized. The two (2) additional drill rigs are anticipated to arrive on site later in early February as the winter freeze up continues and lake ice thickens sufficiently to support drilling over the shallow glacial lake that overlies portions of the deposit.
Figure 1: Segment of winter road extending from the
Figure 2: Proximal infrastructure at the Corvette Property, including the recently constructed winter road extending from the all-season
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 2.2 km long spodumene pegmatite (the ‘CV5 Pegmatite’) and multiple proximal secondary spodumene pegmatite lenses. This corridor has returned drill intercepts of 159.7 m at 1.65% Li2O and 193 ppm Ta2O5 (CV22-042), 152.8 m at 1.22% Li2O and 138 ppm Ta2O5 (CV22-030), 86.2 m at 2.13% Li2O and 163 ppm Ta2O5 (CV22-044), and 70.1 m at 2.22% Li2O and 147 ppm Ta2O5, including 40.7 m at 3.01% Li2O and 160 ppm Ta2O5 (CV22-017).
The Company has completed ninety-five (95) NQ core size drill holes, totalling 27,470 m, at targets along the CV Lithium Trend – eighty (80) drill holes totalling 24,709 m at the CV5 Pegmatite and proximal lenses, fourteen (14) drill holes totalling 2,647 m at the CV13 Pegmatite cluster, and one (1) drill hole totalling 114 m at the CV12 Pegmatite cluster. Core assay results for thirty-eight (38) drill holes remain to be reported – twenty-four (24) at the CV5 Pegmatite cluster and fourteen (14) at the CV13 pegmatite cluster.
To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Property – CV5 Pegmatite and associated lenses, CV4, CV8-12, CV9, CV10, and the recently discovered 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.
About
The Company’s flagship asset is the 100% owned Corvette Property, located proximal to the
The Company also holds 100% ownership of the Freeman Creek Gold Property in
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
For further information, please contact us at info@patriotbatterymetals.com Tel: +1 (604) 279-8709, or visit www.patriotbatterymetals.com.
Please refer to the Company’s continuous disclosure filings, available under its profile at www.sedar.com and asx.com.au, for available exploration data.
This news release has been approved by the Board of Directors,
“
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, including but not limited to references to a proposed mineral resource estimate and prefeasibility study, 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f63dc78-691f-4881-a8f5-70249a59a8ac
https://www.globenewswire.com/NewsRoom/AttachmentNg/2367bb84-bca7-4f2a-a3eb-78101145c47e
![](https://ml.globenewswire.com/media/NmQzMGRlMDctOTY0YS00ZWYzLTliMWItMGI3OTM2OThjOWRlLTEyMzQ3NjI=/tiny/Patriot-Battery-Metals.png)
Figure 1
![](https://ml.globenewswire.com/media/8f63dc78-691f-4881-a8f5-70249a59a8ac/medium/figure-1.jpg)
: Segment of winter road extending from the Trans-Taiga Road to the drill area at CV5
Figure 2
![](https://ml.globenewswire.com/media/2367bb84-bca7-4f2a-a3eb-78101145c47e/medium/figure-2.jpg)
Proximal infrastructure at the Corvette Property, including the recently constructed winter road extending from the all-season Trans-Taiga Road to the drill area at CV5
2023 GlobeNewswire, Inc., source