- 0.94% Li2O and 117 ppm Ta2O5 over 155.1 m (from 77.9 m to 233.0 m), which includes the entire intersection of pegmatite, including higher grade intervals of:
- 1.38% Li2O and 160 ppm Ta2O5 over 38.0 m (from 124 m to 162 m), including,
- 3.91% Li2O and 308 ppm Ta2O5 over 5.0 m (from 157 m to 162 m)
- 1.14% Li2O and 104 ppm Ta2O5 over 44.0 m (from 189.0 m to 233.0 m)
- 1.38% Li2O and 160 ppm Ta2O5 over 38.0 m (from 124 m to 162 m), including,
The second drill hole of the program (CF21-002) was collared approximately 107 m east of the first hole (CF21-001), and approximately 35 m back from the CV5 pegmatite outcrop (see Figures 1, 2, and 3), and returned a 155.1 m interval of near continuous pegmatite, assaying 0.94% Li2O and 117 ppm Ta2O5, including 1.38% Li2O and 160 ppm Ta2O5 over 38.0 m, and 1.14% Li2O and 104 ppm Ta2O5 over 44.0 m. This 155.1 m interval returned twenty-five (25) individual 1-metre samples grading over 2.0% Li2O, including a peak assay of 4.67% Li2O and 186 ppm Ta2O5. Additional assay highlights are presented below in Table 1, as well as Figure 1.
Table 1: Core sample assay highlights from drill hole CF21-001 and 002 at the CV5 Pegmatite
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Preliminary geological modelling indicates that the pegmatite has a moderate to steep dip to the northwest, which is unconformable with the regional geological dip direction, although shares a similar east-northeast strike. Additional drilling, planned to commence this quarter (see news release dated
As in hole CF21-001, the lithium mineralization is also accompanied by moderate to strong tantalum mineralization and includes wide intervals over 100 ppm Ta2O5 (Table 1). Moreover, the grades of lithium and tantalum encountered in drill hole CF21-002 (0.94% Li2O and 117 ppm Ta2O5 over 155.1 m) are very consistent with that returned from drill hole CF21-001 (0.93% Li2O and 114 ppm Ta2O5 over 146.8 m – see news release dated
The 2021 drill program, completed in September-October, included fifteen (15) holes totalling 2,048 m spread over two prospective trends – the CV Lithium Trend (872 m over 5 holes) and the Maven Copper-Gold-Silver Trend (1,177 m over 10 holes). Assays for the remaining drill holes have not yet been received, including for lithium focused drill holes CF21-003 (CV5 Pegmatite) and CF21-004 (CV6 Pegmatite).
The Company is currently planning a 15,000 to 20,000 m two-drill rig campaign, targeted to begin in late February, to aggressively follow-up on the success of the 2021 drill program (see news release dated
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 a drill intercept of 146.8 m at 0.93% Li2O and 114 ppm Ta2O5 returned from the first drill hole to test the target. The high number of well-mineralized pegmatites in this core area of the trend indicates 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.
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, as well as collection of quarter-core duplicates, at a rate of approximately 5%. The Company also intends to submit approximately 4-5% of the core samples for check analysis at a secondary lab. A total of 1,766 samples, including QAQC, have been submitted for geochemical analysis to the primary lab.
All pegmatite encountered in drill holes CF21-001, 002, 003, and 004 was sampled, including ‘book-end’ sampling of adjacent rock, for a total of 613 samples including QAQC, and were shipped to
The Company notes that it carried out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic, and successfully navigated the process to enter the
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Figure 1: Drill hole locations – CV5-6 pegmatites
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Figure 2: Aerial view of the CV5-6 pegmatites, looking north-west
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Figure 3: Aerial view of the CV1-2 and CV5-6 pegmatites, looking south-west
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About
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
Table 1
Core sample assay highlights from drill hole CF21-001 and 002 at the CV5 Pegmatite
Figure 1
Drill hole locations – CV5-6 pegmatites
Figure 2
Aerial view of the CV5-6 pegmatites, looking north-west
Figure 3
Aerial view of the CV1-2 and CV5-6 pegmatites, looking south-west
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