The Company is currently planning a 15,000 to 20,000 m two-drill rig campaign to aggressively follow-up on the success of the 2021 drill program. The 2022 drill campaign will be completed in two phases – winter/spring and summer/fall. The winter/spring phase is expected to begin in late February and will target the areas northeast and along strike of CV5-6, beneath a shallow lake, and extend to the CV1-2 pegmatites outcropping on the opposite shore. The primary objective will be to test for mineralized pegmatite along strike, potentially connecting CV5-6 with CV1-2, as well as testing the mineralization at depth. The summer/fall phase will focus on continued land-based infill and step-out drilling around CV5-6 and CV1-2.
The Company also intends to drill test several other spodumene pegmatite occurrences on the Property as well as complete follow-up drilling along the Maven Copper-Gold-Silver Trend. The Company completed 1,177 m over ten (10) drill holes at the Maven Trend in 2021 with core sample analysis for all holes yet to be received.
In addition to the drill campaign, the Company intends to complete LiDAR and/or satellite imagery acquisition over the core areas of the Property, as well as geological mapping to aid in regional exploration and geological modelling. Regional prospecting over a recently acquired claim block, located contiguous to the eastern claims of the Property, will also be completed.
In late 2021, the Company completed a strategic financing, securing
As previously noted, core sample assays have yet to be received for the remaining drill holes of the 2021 program (CF21-002 through CF21-014). Analytical laboratories in the industry continue to be constrained, which has dramatically impacted turn-around times on the order of weeks to months. The Company is in close contact with the lab and expects final geochemical results to be issued for the next batch of holes over the next 4 -6 weeks.
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The Company’s flagship asset is the Corvette-FCI Property which includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc., located in the
The Company also holds the Freeman Creek Property in
The Company’s other assets include the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; 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 (778) 945-2950 , or visit www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
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Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release
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