Patriot Battery Metals Inc. [PMET-CSE, PMETF-OTCQB, R9GA-FSE] on Tuesday released the first series of analytical results for winter-spring drilling at its Corvette – FCI gold-copper-silver-lithium project in the James Bay Region of Quebec.
Assays announced on Tuesday are for holes designed to test the northeastern and down-dip extension of the lithium-tantalum mineralized zone at the CV5 Pegmatite.
The company said strong lithium and tantalum mineralization has been confirmed in the first series of core sample assays received for drill holes CV22-015, 016, 018 and 019, including 1.17% Li20 and 111 ppm Ta205 over 33.8 metres within a wider zone of 0.80% Li20 and 118 ppm over 95.8 metres (CV22-019).
Core assays confirm the lithium-tantalum mineralization extends approximately 250 metres along trend to the northeast form drill hole CF21-002, and continues down dip.
Patriot Battery Meals has been targeting the CV5 Spodumene Pegmatite, which is part of the more than 25-kilometre CV Lithium Trend.
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the company in 2017 and spans 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 Pegmatite – a large 220-metre long and 20-40 metres wide) well mineralized outcrop.
Previous drilling completed in October, 2021, included 15 holes, covering 2,48 metres spread over two prospective trends – the CV Lithium Trend (872 metres over five holes) and the Maven copper-gold-silver Trend (1,177 metres over 10 holes.
The latest batch of holes were designed to test the northeastern and down-dip extension of the lithium-tantalum mineralized zone at the CV5 Pegmatite.
“We are very excited to announce assays for the first series of holes of our 20-hole winter/spring drill program and look forward to announcing further assay results as they are received from the lab in the coming weeks,’’ said Patriot Battery President and CEO Blair Way.
“These independent assays, confirming lithium and tantalum mineralization within the CV5-1 Corridor, validate the company’s decision to add a third drill rig to our summer drilling program, which was made after geologists in the field identified spodumene crystals in the pegmatite intercepts as part of initial core logging,’’ he said.
“After drilling only 5,000 metres, Patriot has established lithium and tantalum mineralization across and approximate 900 metre strike length (within the core area of the pegmatite trend to a vertical depth of approximately 155 metres), which remains open at both ends and down dip.’’
Core assays an additional 16 drill holes from the winter program remain to be reported.
On May 16, 2022, Patriot Battery shares closed at $2.54 and currently trade in a 52-week range of $2.93 and 19.5 cents.
Patriot is set to launch a 15,000-metre summer/fall drill program in June (2022) and further delineate this discovery.