Patriot Battery Metals Ships First Drill Core from the Corvette-FCI Property, James Bay Region, Quebec, Canada
The Company expects to receive its first set of assay results by mid-November
Vancouver, BC, Canada - October 1, 2021 – Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: RGDCF) (FSE: R9GA) is pleased to announce it has started shipping core from the completed first hole. The core boxes will be shipped to the lab for preparation and assay work. The core should be received by the lab late next week and assay results are expected by mid-November.
Blair Way, Company President and Director, comments: “It is great to have completed our first hole of the program and have excellent core recovery for the lab. The assay labs are exceptionally busy these days, so we are getting the core to the lab as quickly as possible to get in the lab production schedule. This first drill hole has delivered meaningful pegmatite intercepts and I look forward to the lab assay results.”
The first part of this drill program at the Corvette-FCI Property (the “Property”), located in the James Bay Region of Quebec (announced Sept 16, 2021 - https://patriotbatterymetals.com/patriot-battery-metals-announces-mobilization-of-drill-rig-to-the-corvette-fci-property-james-bay-region-quebec-canada/) is focused on the CV5-6 Spodumene Pegmatites, part of the more than 25 km long CV Lithium Trend.
This drill program is comprised of 15 to 20 drill holes for a total of approximately 2,000 m of NQ size coring. Approximately 1/3rd of the drill meterage will target the CV Lithium Trend and the remaining 2/3rd focused on the 10 km Maven Cu-Au-Ag Trend.
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor of numerous spodumene pegmatite occurrences, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop where eight samples collected average 3.00% Li2O and 154 ppm Ta2O5, including a peak assay of 4.06% Li2O and 564 ppm Ta2O5. The high number of well-mineralized pegmatites in this core area of the trend indicates a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present. The program’s initial series of drill holes will test at depth the CV5 and CV6 spodumene pegmatites and will mark the first ever drill testing of the CV Lithium Trend to date.
The Company notes that it has developed a COVID Management Plan for the program and will carry out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
Qualified Person
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base and precious metals.
The Company’s flagship assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Québec, and the 100% owned Freeman Creek Gold Property, located in Idaho, USA.
The Corvette-FCI Property includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc. The claim blocks are contiguous, and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
The 100% owned Freeman Creek Gold Property hosts two major advanced targets - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact us at [email protected] Tel: +1 (778) 945-2950 , or visit www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
“BLAIR WAY”
Blair Way, President & Director
“ADRIAN LAMOUREUX”
Adrian Lamoureux, CEO & Director
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release