Patriot Battery (PMET.V) drills 96.9 metres of 1.25% Li2O at Corvette

Patriot Battery Metals (PMET.V), a Canadian-based mineral explorer, announced today that it had received core assay results from the summer phase of its 2022 drill campaign at its wholly owned Corvette Property.

Corvette is located in the James Bay region of Quebec approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure.

Results showed strong lithium grades over wide intervals from the first two holes completed in the summer phase:

1.25% Li2O and 118 ppm Ta2O5 over 96.9 metres including 2.53% Li2O and 130 ppm Ta2O5 over 27 metres.
1.38% Li2O and 99 ppm Ta2O5 over 27 metres, and 2.00% Li2O and 167 ppm Ta2O5 over 7.3 metres.

A third drill rig and barge have been mobilized to the drill area and is expected to collar shortly.

Thirty-six holes for a total depth of 10,355 metres have been completed over the 2022 campaign of which 20 holes for 4,345 metres depth over the winter program and 16 holes for 6,010 metres depth over the summer program.

Summer drilling has now traced the principal spodumene-bearing pegmatite body from the CV5 outcrop for a distance of approximately 500 metres.

The main pegmatite body has now been traced through drilling over a strike length of approximately 1,900 metres, extending from the CV6 outcrop to south of the CV1 outcrop and remains open in all directions.

The summer phase of the 2022 drill program began in early June with two diamond drill rigs operating along the CV5-1 pegmatite corridor.

Blair Way, president, CEO and director of Patriot, commented, “The summer drill program has had an excellent start with some very strong drill intersections in our first two holes completed. We have also now confirmed the that the principal pegmatite extends from the CV5 outcrop to the CV6 outcrop, which brings the total mineralized strike length tested by drilling to approximately 1.9 km and continues to remain open. This discovery continues to grow as we drill and with a third drill rig and accompanying barge now being mobilized, the pace of delineation will increase.”

The company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective gold prospects: the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 metres, and the Carmen Creek Prospect with similar sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.

Patriot’s other assets include the Pontax Lithium-Gold Property in Quebec and the Hidden Lake Lithium Property in Northwest Territories.

The junior began trading on the TSX Venture Exchange on Thursday July 14, 2022.

Currently, Patriot trades at $3.09 CAD per share for a market cap of $267.28 million.