The winter/spring phase of the 2022 drill campaign began in late February with two diamond drill rigs, which remain on site in preparation the summer/fall phase of the drilling expected to commence in early June. A total of twenty (20) NQ size diamond drill holes (4,352 m) were completed during the winter/spring phase and included seventeen (17) holes collared over ice, and three (3) holes collared over land. The geological team remains on site for final processing of the drill core received and to prepare the program’s final shipment of samples for transport to the laboratory for analysis. The Company is using SGS Canada (
The primary objective of the winter/spring drill program was to test for mineralized pegmatite along strike from surface outcrops, potentially connecting the CV5-6 pegmatites with the CV1-2 pegmatites, as well as testing the mineralization at depth. The Company is pleased to report that, based on drill holes completed to date, the geological 3D modelling indicates that pegmatite continues across the lake from CV5 towards CV1 – a strike length of at least 1,400 m. The lithium-bearing mineral spodumene has been field identified in multiple drill holes, including the final two (2) drill holes of the program. No core sample assays have been received.
In addition, the working geological model continues to indicate that the pegmatite body is thickening at depth, as is evidenced by drill holes CV22-016, 019, 031, and 028, which tested the down-dip extension of drill holes CV22-015, 018, 025, and 027, respectively, and returned significantly wider intercepts. Orientation of drill holes along with logged pegmatite intercepts are presented in Table 1. The location of drill holes completed to date are presented in Figure 1.
The summer/fall phase of the drilling is scheduled to begin
The aggressive 2022 drill campaign is being completed as a direct follow-up to the strong lithium-tantalum mineralization encountered in the first four (4) drill holes to test the CV5-6 pegmatite this past fall. Drill intercept highlights include 155.1 m at 0.94% Li2O and 117 ppm Ta2O5 (CF21-002), and 58.1 m at 1.25% Li2O and 194 ppm Ta2O5 (CF21-003) (see news releases dated
Table 1: Pegmatite intercepts logged in 2022 drill holes at the Corvette Property https://www.globenewswire.com/NewsRoom/AttachmentNg/ee6b4015-cff0-496f-a89d-3489f87f9390
The Company notes that it has developed a COVID Management Plan for the program and will carry out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in
Figure 1: 2022 drill hole collar locations
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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, which is part of the more than 25-km long and Property-wide CV Lithium Trend. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop with drill intercepts of 155.1 m at 0.94% Li2O and 117 ppm Ta2O5 (CF21-002), and 58.1 m at 1.25% Li2O and 194 ppm Ta2O5 (CF21-003). Drilling indicates a pegmatite body approximating 60 m in true width (at CF21-001 and 003), and therefore 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.
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The Company’s flagship asset is the Corvette Property, which includes the wholly owned Corvette, FCI East, FCI West, Deca-Goose, Felix, and Corvette East claim blocks, located in 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 (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.
Table 1:
Pegmatite intercepts logged in 2022 drill holes at the Corvette Property
Figure 1:
2022 drill hole collar locations
2022 GlobeNewswire, Inc., source