Patriot Battery hits 156.9 m of 2.12% Li20 in Quebec
Patriot Battery Metals Inc. [PMET-CSE, PMETF-OTCQB, R9GA-FSE] has released impressive drilling results from its wholly-owned Corvette – FCI gold-copper-silver-lithium project in the James Bay Region of Quebec.
Results from 14 additional drill holes from the 2022 drill campaign include the highest-grade intercept reported to date from the CV5 pegmatite target, which is located 13.5 kilometres south of the regional all-weather Trans-Taiga road and power line infrastructure.
Drill hole CV22-083 returned 156.9 metres at 2.12% Li20 (lithium dioxide) (176.4 metres to 333.4 metres), including 25 metres at 5.04% Li20 or 5.0 metres at 6.36% Li20.
The company said drill hole CV22-083 continues to extend mineralization eastwardly at the CV5 pegmatite and is interpreted to have intersected a large, high-grade zone within the overall pegmatite that now has been defined by several drill holes over a strike length of at least 250 metres.
“It is hard to find words to adequately describe the impressive nature of the lithium mineralization in drill hole CV22-083,’’ said Darren Smith, Patriot Battery’s vice-president, exploration. “Visual estimates of spodumene abundance may give you a sense, but assays are a true measure and have certainly astounded with this hole,” Smith said. “As we move east, we are defining a significant high-grade zone at a course drill spacing of 50 to 100 metres. The recently commenced winter drill program will continue to probe and delineate this area ahead of an initial mineral resource estimate planned for the first half of 2023.’’
Patriot Battery said it recently launched what it said will be the largest single lithium drill program undertaken in recent times in Quebec. The company said it is planning to complete a minimum of 20,000 metres of drilling at its Corvette – FCI gold-copper-silver-lithium project.
At least five drill rigs will be utilized to complete a winter program that will occur from January through April. The objective is to extend the 2,200-metre strike length of the CV5 pegmatite system to the east and west and to continue delineation of the recent CV13 discovery, situated about 4.3 kilometres along the geological trend to the southwest.
Patriot Battery Meals has been targeting the CV Lithium Trend, an emerging spodumene pegmatite district discovered by the company in 2017. It spans more than 25 kilometres across the Corvette Property, covering the FCE West, FCE East and Corvette claim blocks. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 and CV1 Pegmatite.
The company said the primary drill area has focused on the CV5 Pegmatite. The 14 drill holes reported Thursday targeted mineralization at the eastern and western areas of the currently defined CV5 pegmatite.
On January 18, 2023, Patriot Battery shares closed at $7.93 and currently trade in a 52-week range of $10.50 and 41 cents.