After announcing their best drill intercepts to date on August 31st 2022, Patriot Battery Metals (PMET.V) today announced core assay results for 12 additional drill holes from its 2022 campaign at its wholly owned Corvette Property located in the James Bay Region of Quebec.

The drilling was focused at the CV5 pegmatite (see below), which is located around 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure. Two drills are currently on-going, and a third drill rig has been active at the CV13 pegmatite cluster since early September.

Here are the significant intercepts from the drill holes:

• Continued wide and high-grade drill intercepts returned from the CV5 Pegmatite over a significant lateral distance between holes
  • 0.97% Li₂O over 104.5 m (124.7 m to 229.3 m), including 1.52% Li₂O over 51.9 m (CV22-052)
  • 1.42% Li₂O over 61.9 m (214.0 m to 275.9 m), including 2.00% Li₂O over 30.0 m, and 1.01% Li₂O over 52.0 m (311.0 m 363.0 m) (CV22-040)
  • 1.42% Li₂O over 47.4 m (181.3 m to 228.7 m), including 1.96% Li₂O over 21.0 m (CV22-048)
  • 1.05% Li₂O over 30.7 m (107.3 m to 138.0 m) (CV22-053)
  • 1.26% Li₂O over 26.6 m (215.6 m to 242.2 m) (CV22-045)
  • 1.31% Li₂O over 25.4 m (40.6 m to 66.0 m) (CV22-054)

• Recent drilling has extended the strike length of the principal lithium pegmatite body (CV5) to at least 2,200 m, 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 m (311.0 m 363.0 m). It has been traced for approximately 700 m in strike length and remains open, pinching and swelling laterally and to depth, ranging in width from <5 m to ~68 m (core length)

As of October 5^th, 2022, a total of approximately 23,497 m over eighty (80) holes have now been completed over the 2022 drill campaign – 4,345 m over 20 holes in the winter/spring program, and 19,152 m over sixty (60) holes in the summer/fall program (17,554 m over fifty-one (51) holes at the CV5 Pegmatite and 1,599 m over nine (9) holes at the CV13 pegmatite cluster). Core samples for approximately thirty-seven (37) holes are currently en route to or in process at the analytical lab in Lakefield, ON (SGS Canada).

Drilling is expected to continue through to mid-October with the drill program concluding with final core processing on site and shipment to the lab for analysis. An aggressive drill campaign for 2023 at Corvette is in the works, and management will notify investors about the details in the coming weeks.

The stock had a tear post August after the best drill hole press release. The stock also technically broke above a trendline and we got a situation where both technicals and fundamentals aligned.

The breakout saw an over 190% gain from the end of Summer to the recent highs at $7.24.

The stock is beginning to consolidate and range just under $7.00. Currently, $6.50 appears to be near term resistance for the stock. $5.50 is near term support. It is all about what breaks first now. A move lower here allows those who missed the move to jump in and ride a potential breakout above $7.00. However, if the stock does close and break below $5.50, we could see a move back down to the $4.00 zone.