Patriot Battery Metals Inc. [PMET-TSXV; PMETF-OTC; R9GA-FWB] reported core assay results for 12 additional drill holes (CV22-040, -041, -045 and -047 through -054 and -056) from its 2022 drill campaign at its wholly owned Corvette property, located in the James Bay region of northern Quebec.
The primary drill area is focused at the CV5 pegmatite, located approximately 13.5 km south of the regional and all-weather Trans-Taiga road and power line infrastructure with two drills currently coring. A third drill rig has been active at the CV13 pegmatite cluster for initial drill testing since early September.
Significant intercepts include continued wide and high-grade drill intercepts returned from the CV5 Pegmatite over a significant lateral distance between holes. Hole CV22-052 returned 0.97% Li2O over 104.5 metres (124.7 to 229.3 m), including 1.52% Li2O over 51.9 metres.
Hole CV22-040 returned 1.42% Li2O over 61.9 metres (214.0 to 275.9 m), including 2.00% Li2O over 30.0 metres, and 1.01% Li2O over 52.0 metres (311.0 m 363.0 m). Hole CV22-048 returned 1.42% Li2O over 47.4 metres (181.3 to 228.7 m), including 1.96% Li2O over 21.0 metres.
Hole CV22-053 returned 1.05% Li2O over 30.7 metres (107.3 to 138.0 m). Hole CV22-045 returned 1.26% Li2O over 26.6 metres (215.6 to 242.2 m). Hole CV22-054 returned 1.31% Li2O over 25.4 metres (40.6 to 66.0 m).
Recent drilling has extended the strike length of the principal lithium pegmatite body (CV5) to at least 2,200 metres, spanning laterally from drill hole CV22-074 through CV22-090/093, and remains open at both ends and to depth.
Drilling to date has outlined several secondary and subparallel trending pegmatite lenses, the largest of which was first discovered in drill hole CV22-040 (at the west end of the drill area) with an unexpected intersection of 1.01% Li2O over 52.0 metres (311.0 to 363.0 m). It has been traced for approximately 700 metres in strike length and remains open, pinching and swelling laterally and to depth, ranging in width from <5 metres to ~68 metres (core length).
As of October 5, 2022, a total of approximately 23,497 metres over 80 holes have now been completed over the 2022 drill campaign – 4,345 metres over 20 holes in the winter/spring program, and 19,152 metres over 60 holes in the summer/fall program (17,554 m over 51 holes at the CV5 Pegmatite and 1,599 metres over 9 holes at the CV13 pegmatite cluster).
All nine drill holes completed at the CV13 pegmatite cluster have intersected spodumene pegmatite of varying intervals with all assays pending.
Thirty-seven drill holes are currently en route to or in process at the analytical lab.
The presence of tantalum continues to be prevalent throughout the CV5 Pegmatite body as well as the secondary pegmatite lenses. Intersections and grades include 104.5 metres of 128 ppm Ta2O5 (0.97% Li2O) in drill hole CV22-052, 37.7 metres of 257 ppm Ta2O5 (0.22% Li2O) in drill hole CV22-041, and 46.3 metres of 157 ppm Ta2O5 (1.41% Li2O) in drill hole CV22-049.
A total of three drill rigs are currently operating at the Corvette Property – two targeting the CV5 Pegmatite corridor and one targeting the CV13 pegmatite cluster. As of October 5, 2022, a total of approximately 23,497 metres over 80 holes have now been completed over the 2022 drill campaign – 4,345 metres over 20 holes in the winter/spring program, and 19,152 metres over 60 holes in the summer/fall program (17,554 m over 51 holes at the CV5 Pegmatite and 1,599 metres over nine holes at the CV13 pegmatite cluster). Core samples for approximately 37 holes are currently en route to or in process at the analytical lab in Lakefield, ON (SGS Canada).
Drilling is anticipated to continue through to mid-October, at which time the 2022 drill program will conclude with final core processing on site and shipment to the lab for analysis. The Company is currently planning an aggressive 2023 drill campaign at Corvette and will announce details in the coming weeks.
To date, six distinct clusters of lithium pegmatite have been discovered across the Property – CV5 Pegmatite and associated lenses, CV4, CV8-12, CV9, CV10, and the recently discovered CV13.
The company’s flagship asset is the Corvette property. Additionally, the property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t gold from outcrop and 10.5 g/t gold over 7 metres in drill hole, and the Maven Trend with 8.15% copper, 1.33 g/t gold, and 171 g/t silver in outcrop.
In morning trading, Patriot Battery shares gained $0.15 to $6.18.
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