Patriot Battery launches large lithium drill program in Quebec
Patriot Battery Metals Inc. [PMET-CSE, PMETF-OTCQB, R9GA-FSE] has 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 wholly-owned Corvette – FCI gold-copper-silver-lithium project in the James Bay Region of Quebec.
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’s drilling plan was announced after the close of trading on December 5, 2023, when shares closed at $6.05. They currently trade in a 52-week range of $10.50 and 41 cents.
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, which is located approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and powerline infrastructure, with two drills currently coring.
Core assays for 38 drill holes from the 2022 campaign remain to be reported, including 24 at the CV5 pegmatite cluster and 14 at the CV13 pegmatite cluster.
Mineralization along the CV5 Pegmatite corridor (which is exposed over numerous outcrops) is highlighted by the CV5 Pegmatite as well as several adjacent, sub-parallel trending, secondary pegmatite lenses.
The company has said drilling continues to return wide and well-mineralized intercepts at depth across the CV5 Pegmatite, highlighted by drill hole CV22-052m which returned 0.97% Li20 over 104.5 metres (124.7 metres to 229.3 metres), including 1.52% Li20 over 51.9 metres, and drill hole CV220040, which returned 1.42% Li20 over 61.9 metres (214.0 metres to 275.9 metres) and 1.01% Li20 over 52 metres (311.0 metres to 363.0 metres).
The 2023 winter drill program will be more expansive than the 2022 winter drill program, starting with three drill rigs in January and increasing to five from early February through mid-April. A key objective is to improve the geological model to achieve indicated mineral resource confidence to support a future pre-feasibility study.
An understanding of the near-surface lateral behaviour of the CV5 is needed to refine locations of certain infrastructures required for prefeasibility level advancement, as well as help define associated field programs planned for 2023.