VANCOUVER, BC, May 1, 2024
/PRNewswire/ - May 1, 2024 –
Sydney, Australia
Highlights
- Strong lithium mineralization over wide intervals from infill
drilling at CV5.
-
- 126.3 m at 1.66%
Li2O, including 54.9
m at 2.50% Li2O (CV24-374).
- 100.8 m at 1.97%
Li2O, including 69.8
m at 2.52% Li2O (CV24-392).
- 90.2 m at 1.29%
Li2O and 48.5 m at
1.25% Li2O (CV24-377).
- 94.9 m at 1.10%
Li2O, including 26.1
m at 2.16% Li2O (CV24-378).
- 70.1 m at 2.44%
Li2O, including 46.9
m at 3.53% Li2O or 16.1 m at 5.02% Li2O
(CV24-401A).
- Focus of 2024 winter drilling at CV5 was to support an upgrade
in mineral resource confidence, from the inferred category to the
indicated category.
- Core assay results are reported herein for 34 drill holes
completed at CV5 in 2024.
- The 2024 winter drill program (now complete), totaled
62,518 m (166 holes),
including 50,961 m (121 holes) at
CV5, and 11,557 m (45 holes) at CV13,
of which 46,933 m (132 holes) remain
to be reported.
- An updated mineral resource estimate scheduled for Q3 2024 will
focus on upgrading the resource category at CV5 and include a
maiden resource at CV13, incorporating all drilling completed
through to April 2024.
Patriot Battery Metals Inc. (the "Company" or "Patriot")
(TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased
to announce core assay results for drill holes completed in 2024 at
the CV5 Spodumene Pegmatite. The Corvette Property (the "Property"
or "Project"), wholly owned by the Company, is located in the Eeyou
Istchee James Bay region of Quebec. The CV5 Spodumene Pegmatite, with a
maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42%
Li2O inferred1, is situated approximately
13.5 km south of the regional and all–weather Trans-Taiga Road and
powerline infrastructure.
Darren L. Smith, Vice President
of Exploration for the Company, comments: "The 2024 resource
infill drilling at CV5 advanced very well over the recently
completed winter program, with the first batch of assays producing
some stellar results. The team has done a phenomenal job, and all
remaining core samples are now at the lab for processing. We are
now focused on refining the pegmatite geological model and
domaining through integration of the core assay data as it comes
in.
"The Company remains on schedule for a Q3 2024 update to the
June 2023 maiden mineral resource
estimate, which will include both the CV5 and CV13 spodumene
pegmatites," added Mr. Smith.
Drill results for 34 drill holes, completed during the recently
completed 2024 winter drill program at the CV5 Spodumene Pegmatite,
are reported herein (Figure 1). Highlights include:
- 126.3 m at 1.66%
Li2O, including 54.9
m at 2.50% Li2O (CV24-374).
- 100.8 m at 1.97%
Li2O, including 69.8
m at 2.52% Li2O (CV24-392).
- 90.2 m at 1.29%
Li2O and 48.5 m at
1.25% Li2O (CV24-377).
- 94.9 m at 1.10%
Li2O, including 26.1
m at 2.16% Li2O (CV24-378).
- 70.1 m at 2.44%
Li2O, including 46.9
m at 3.53% Li2O or 16.1 m at 5.02% Li2O
(CV24-401A).
The 2024 winter drill program at CV5 focused on resource infill
and covered ~3.9 km of the total 4.6 km pegmatite strike length
defined to date. The primary objective of the infill drilling is to
improve the confidence of the geological model at CV5 to support an
upgrade of mineral resources from the inferred category to the
indicated category. This includes the delineation of a coherent
body of indicated mineral resources to support advanced development
and pending economic studies at CV5.
The drill hole results announced herein continue to demonstrate
strong grades and continuity of spodumene pegmatite at CV5. In
particular, drill hole CV24-374 returned a significantly wider
interval of pegmatite than initially modelled based on the
June 2023 MRE – 126.3 m (at 1.66% Li2O) intercept
versus an expected 86 m intercept, as
predicted by the June 2023 MRE's
geological model. This additional metreage was also returned from
outside of the conceptual pit constraint used in the June 2023 MRE and indicates an area of potential
resource growth along strike at this depth in this area (Figure
2).
Additionally, at the far east end of the high-grade Nova Zone, situated between and at a similar
depth to drill holes CV23-107 (37.1 m
at 2.09% Li2O, including 3.0
m at 5.43% Li2O) and CV23–108 (26.6 m at 2.44% Li2O, including
5.0 m at 4.30% Li2O), hole
CV24-401A returned a significantly wider, higher-grade intercept
than expected – 46.9 m at 3.53%
Li2O including 16.1
m at 5.02% Li2O within a wider
high-grade zone of 70.1 m at 2.44%
Li2O (Figure 3 and Figure 4).
The 2024 winter drill program, which concluded in mid-April at
the Property, totalled 62,518 m (166 holes) –
50,961 m (121 holes) at CV5, and
11,557 m (45 holes) at CV13, of which
46,933 m (132 holes) remain to be reported. Core samples for
all drill holes completed during the program have now arrived at
the laboratory with analytical processing underway. The infill
drill program at CV5 is scheduled to resume early summer and
continue into the fall of this year.
An updated MRE for the Corvette Project, incorporating drilling
through April 2024, is scheduled for
Q3 2024. This MRE update will include both the CV5 and CV13
spodumene pegmatites and a total anticipated metreage of
134,129 m (369 holes) and
29,121 m (133 holes),
respectively.
Collectively, through April
2024, drilling has traced the CV5 Spodumene Pegmatite over
a strike length of 4.6 km, which remains open along
strike at both ends and to depth over a significant portion of its
length.
Core sample assays for drill holes reported herein from the CV5
Spodumene Pegmatite are presented in Table 1 for all pegmatite
intersections >2 m. Drill hole
locations and attributes are presented in Table 2.
1 The CV5 mineral
resource estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a
cut-off grade of 0.40% Li2O with effective date of June 25,
2023 (through drill hole CV23-190). Mineral resources
are not mineral reserves as they do not have demonstrated economic
viability. Largest lithium pegmatite resource in the Americas based
on contained LCE.
|
Quality Assurance / Quality Control
(QAQC)
A Quality Assurance / Quality Control protocol following
industry best practices was incorporated into the program and
included systematic insertion of quartz blanks and certified
reference materials into sample batches at a rate of approximately
5%. Additionally, analysis of pulp-split sample duplicates was
completed to assess analytical precision, and external (secondary)
laboratory pulp-split duplicates were prepared at the primary lab
for subsequent check analysis and validation.
All core samples collected were shipped to SGS Canada's
laboratory in Val-d'Or, QC, for
sample preparation (code PRP89 special) which includes drying at
105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize
85% passing 75 microns. The pulps were shipped by air to SGS
Canada's laboratory in Burnaby,
BC, where the samples were homogenized and subsequently
analyzed for multi-element (including Li and Ta) using sodium
peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district
discovered by the Company in 2017 and is interpreted to span more
than 50 kilometres across the Corvette Property. The core area
includes the approximate 4.6 km long CV5 Spodumene Pegmatite, which
hosts a maiden mineral resource estimate of 109.2 Mt at 1.42%
Li2O inferred1.
To date, eight (8) distinct clusters of lithium pegmatite have
been discovered across the Corvette Property – CV4, CV5, CV8, CV9,
CV10, CV12, CV13, and the recently discovered CV14. Given the
proximity of some pegmatite outcrops to each other, as well as the
shallow till cover in the area, it is probable that some of the
outcrops may reflect a discontinuous surface exposure of a single,
larger pegmatite "outcrop" subsurface.
Qualified/Competent Person
The information in this news release that relates to exploration
results for the Corvette Property is based on, and fairly
represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a
Qualified Person as defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects, and member in
good standing with the Ordre des Géologues du Québec
(Geologist Permit number 01968), and with the Association of
Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith
has reviewed and approved the technical information in this news
release.
Mr. Smith is Vice President of Exploration for Patriot Battery
Metals Inc. and holds common shares and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the
style of mineralization, type of deposit under consideration, and
to the activities being undertaken to qualify as a Competent Person
as described by the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (the JORC Code). Mr.
Smith consents to the inclusion in this news release of the matters
based on his information in the form and context in which it
appears.
About Patriot Battery Metals
Inc.
Patriot Battery Metals Inc. is a hard-rock lithium exploration
company focused on advancing its district-scale 100% owned Corvette
Property located in the Eeyou Istchee James Bay region of
Quebec, Canada, and proximal to
regional road and powerline infrastructure. The Corvette Property
hosts the CV5 Spodumene Pegmatite with a maiden mineral resource
estimate of 109.2 Mt at 1.42% Li2O
inferred1 and ranks as the largest lithium pegmatite
resource in the Americas based on contained lithium carbonate
equivalent (LCE), and one of the top 10 largest lithium pegmatite
resources in the world. Additionally, the Corvette Property hosts
multiple other spodumene pegmatite clusters that remain to be drill
tested, as well as more than 20 km of prospective trend that
remains to be assessed.
1 The CV5 mineral resource
estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a
cut-off grade of 0.40% Li2O with effective date of June 25,
2023 (through drill hole CV23-190). Mineral resources
are not mineral reserves as they do not have demonstrated economic
viability. Largest lithium pegmatite resource in the Americas based
on contained LCE.
|
For further information, please contact us at
info@patriotbatterymetals.com or by calling +1 (604) 279-8709, or
visit www.patriotbatterymetals.com. Please also refer to the
Company's continuous disclosure filings, available under its
profile at www.sedarplus.ca and www.asx.com.au, for available
exploration data.
This news release has been approved by the Board of
Directors.
"KEN
BRINSDEN"
Kenneth Brinsden, President, CEO,
& Managing Director
Disclaimer for Forward-looking
Information
This news release contains "forward-looking information" or
"forward-looking statements" within the meaning of applicable
securities laws and other statements that are not historical facts.
Forward-looking statements are included to provide information
about management's current expectations and plans that allows
investors and others to have a better understanding of the
Company's business plans and financial performance and
condition.
All statements, other than statements of historical fact
included in this news release, regarding the Company's strategy,
future operations, technical assessments, prospects, plans and
objectives of management are forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
typically identified by words such as "plan", "expect", "estimate",
"intend", "anticipate", "believe", or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements in this release include, but
are not limited to, statements concerning: an upgrade in mineral
resource confidence, from the inferred category to the indicated
category on the Property, the completion of an updated MRE on the
Property, the processing and receipt of all remaining core samples
and statements relating to the continuity of spodumene pegmatite at
CV5.
Forward-looking information is based upon certain assumptions
and other important factors that, if untrue, could cause the actual
results, performance or achievements of the Company to be
materially different from future results, performance or
achievements expressed or implied by such information or
statements. There can be no assurance that such information or
statements will prove to be accurate. Key assumptions upon which
the Company's forward-looking information is based include that
proposed exploration and mineral resource estimate work on the
Property will continue as expected, and that exploration and
development results continue to support management's current plans
for Property development.
Readers are cautioned that the foregoing list is not exhaustive
of all factors and assumptions which may have been used.
Forward-looking statements are also subject to risks and
uncertainties facing the Company's business, any of which could
have a material adverse effect on the Company's business, financial
condition, results of operations and growth prospects. Some of the
risks the Company faces and the uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements include, among others, the ability to
execute on plans relating to the Company's Project, including the
timing thereof. In addition, readers are directed to carefully
review the detailed risk discussion in the Company's most recent
Annual Information Form filed on SEDAR+, which discussion is
incorporated by reference in this news release, for a fuller
understanding of the risks and uncertainties that affect the
Company's business and operations.
Although the Company believes its expectations are based upon
reasonable assumptions and has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information. As such,
these risks are not exhaustive; however, they should be considered
carefully. If any of these risks or uncertainties materialize,
actual results may vary materially from those anticipated in the
forward-looking statements found herein. Due to the risks,
uncertainties and assumptions inherent in forward-looking
statements, readers should not place undue reliance on
forward-looking statements.
Forward-looking statements contained herein are presented for
the purpose of assisting investors in understanding the Company's
business plans, financial performance and condition and may not be
appropriate for other purposes.
The forward-looking statements contained herein are made only as
of the date hereof. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except to the extent required by applicable law. The Company
qualifies all of its forward-looking statements by these cautionary
statements.
Competent Person Statement (ASX Listing Rule 5.22)
The mineral resource estimate in this release was reported by
the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023. The Company confirms it is not
aware of any new information or data that materially affects the
information included in the announcement and that all material
assumptions and technical parameters underpinning the estimates in
the announcement continue to apply and have not materially changed.
The Company confirms that the form and context in which the
competent person's findings are presented have not been materially
modified from the original market announcement.
Appendix 1 – JORC Code 2012 Table 1 (ASX Listing Rule
5.7.1)
Section 1 – Sampling Techniques and Data
Criteria
|
JORC Code
explanation
|
Commentary
|
Sampling
techniques
|
-
Nature and quality of
sampling (eg cut
channels, random chips, or specific
specialized industry standard
measurement tools appropriate to the
minerals under investigation, such as
down hole gammasondes, or handheld
XRF instruments, etc). These examples
should not be taken as limiting the
broad meaning of sampling.
-
Include reference to
measures taken to
ensure sample representivity and the
appropriate calibration of any
measurement tools or systems used.
-
Aspects of the
determination of
mineralization that are Material to the
Public Report.
-
In cases where
'industry standard'
work has been done this would be
relatively simple (eg 'reverse
circulation drilling was used to obtain 1
m samples from which 3 kg was
pulverized to produce a 30 g charge for
fire assay'). In other cases more
explanation may be required, such as
where there is coarse gold that has
inherent sampling problems. Unusual
commodities or mineralization types
(eg submarine nodules) may warrant
disclosure of detailed information.
|
- Core sampling
protocols meet industry standard
practices.
- Core sampling is
guided by lithology as determined
during geological logging (i.e., by a geologist). All
pegmatite intervals are sampled in their entirety (half
-core), regardless if spodumene mineralization is noted
or not (in order to ensure an unbiased sampling
approach) in addition to ~1 to 3 m of sampling into the
adjacent host rock (dependent on pegmatite interval
length) to "bookend" the sampled pegmatite.
- The minimum
individual sample length is typically 0.5 m
and the maximum sample length is typically 2.0 m.
Targeted individual pegmatite sample lengths are 1.0 to
1.5 m.
- All drill core is
oriented to maximum foliation prior to
logging and sampling and is cut with a core saw into
half-core pieces, with one half-core collected for assay,
and the other half-core remaining in the box for
reference.
- Core samples
collected from drill holes were shipped
to SGS Canada's laboratory in Val-d'Or, QC, for
sample preparation (code PRP89 special) which
included drying at 105°C, crush to 90% passing 2 mm,
riffle split 250 g, and pulverize 85% passing 75 microns.
Core sample pulps were shipped by air to SGS
Canada's laboratory in Burnaby, BC, where the
samples were homogenized and subsequently analyzed
for multi-element (including Li and Ta) using sodium
peroxide fusion with ICP-AES/MS finish (codes
GE_ICP91A50 and GE_IMS91A50).
|
Drilling
techniques
|
- Drill type (eg
core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details
(eg core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether
core is oriented and if so, by what
method, etc).
|
- NQ size core
diamond drilling was completed for all
holes. Core was not oriented.
|
Drill sample
recovery
|
-
Method of recording and
assessing
core and chip sample recoveries and
results assessed.
-
Measures taken to
maximize sample
recovery and ensure representative
nature of the samples.
-
Whether a relationship
exists between
sample recovery and grade and
whether sample bias may have
occurred due to preferential loss/gain
of fine/coarse material.
|
- All drill core was
geotechnically logged following
industry standard practices, and include TCR, RQD,
ISRM, and Q-Method. Core recovery is very good and
typically exceeds 90%.
|
Logging
|
-
Whether core and chip
samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource
estimation, mining studies and
metallurgical studies.
-
Whether logging is
qualitative or
quantitative in nature. Core (or
costean, channel, etc) photography.
-
The total length and
percentage of the
relevant intersections logged.
|
- Upon receipt at the
core shack, all drill core is pieced
together, oriented to maximum foliation, metre
marked, geotechnically logged (including structure),
alteration logged, geologically logged, and sample
logged on an individual sample basis. Core box photos
are also collected of all core drilled, regardless of
perceived mineralization. Specific gravity
measurements of pegmatite are also collected at
systematic intervals for all pegmatite drill core using the
water immersion method, as well as select host rock
drill core.
- The logging is
qualitative by nature, and includes
estimates of spodumene grain size, inclusions, and
model mineral estimates.
- These logging
practices meet or exceed current
industry standard practices.
|
Sub-sampling
techniques and
sample preparation
|
-
If core, whether cut or
sawn and
whether quarter, half or all core taken.
-
If non-core, whether
riffled, tube
sampled, rotary split, etc and whether
sampled wet or dry.
-
For all sample types,
the nature, quality
and appropriateness of the sample
preparation technique.
-
Quality control
procedures adopted
for all sub-sampling stages to maximize
representivity of samples.
-
Measures taken to
ensure that the
sampling is representative of the in situ
material collected, including for
instance results for field
duplicate/second-half sampling.
-
Whether sample sizes
are appropriate
to the grain size of the material being sampled.
|
-
Drill core sampling
follows industry best practices.
Drill core was saw-cut with half-core sent for
geochemical analysis and half-core remaining in the box
for reference. The same side of the core was sampled
to maintain representativeness.
-
Sample sizes are
appropriate for the material being
assayed.
-
A Quality Assurance /
Quality Control (QAQC)
protocol following industry best practices was
incorporated into the program and included systematic
insertion of quartz blanks and certified reference
materials (CRMs) into sample batches at a rate of
approximately 5% each. Additionally, analysis of pulp
-split duplicates was completed to assess analytical
precision, and external (secondary) laboratory pulp
-split duplicates were prepared at the primary lab for
subsequent check analysis and validation at a secondary
lab.
-
All protocols employed
are considered appropriate for
the sample type and nature of mineralization and are
considered the optimal approach for maintaining
representativeness in sampling.
|
Quality of assay
data and laboratory
tests
|
-
The nature, quality
and
appropriateness of the assaying and
laboratory procedures used and
whether the technique is considered
partial or total.
-
For geophysical tools,
spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations
factors applied and their derivation,
etc.
-
Nature of quality
control procedures
adopted (eg standards, blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (ie lack of bias) and precision
have been established.
|
-
Core samples collected
from drill holes were shipped
to SGS Canada's laboratory in Val-d'Or, QC, for standard
sample preparation (code PRP89 special)
which included drying at 105°C, crush to 90% passing
2 mm, riffle split 250 g, and pulverize 85% passing 75
microns. Core sample pulps were shipped by air to SGS
Canada's laboratory in Burnaby, BC, where the
samples were homogenized and subsequently analyzed
for multi-element (including Li and Ta) using sodium
peroxide fusion with ICP-AES/MS finish (codes
GE_ICP91A50 and GE_IMS91A50).
-
The Company relies on
both its internal QAQC
protocols (systematic use of blanks, certified reference
materials, and external checks), as well as the
laboratory's internal QAQC.
-
All protocols employed
are considered appropriate for
the sample type and nature of mineralization and are
considered the optimal approach for maintaining
representativeness in sampling.
|
Verification of
sampling and
assaying
|
- The verification of
significant
intersections by either independent
or alternative company personnel.
- The use of twinned
holes.
- Documentation of
primary data, data
entry procedures, data verification,
data storage (physical and electronic)
protocols.
- Discuss any
adjustment to assay data.
|
- Intervals are
reviewed and compiled by the VP
Exploration and Project Managers prior to disclosure,
including a review of the Company's internal QAQC
sample analytical data.
- Data capture
utilizes MX Deposit software whereby
core logging data is entered directly into the software
for storage, including direct import of laboratory
analytical certificates as they are received. The
Company employs various on-site and post QAQC
protocols to ensure data integrity and accuracy.
- Adjustments to data
include reporting lithium and
tantalum in their oxide forms, as it is reported in
elemental form in the assay certificates. Formulas used
are Li2O = Li x 2.153, and Ta2O5 =
Ta x 1.221.
|
Location of data
points
|
- Accuracy and
quality of surveys used to
locate drill holes (collar and down-hole
surveys), trenches, mine workings and
other locations used in Mineral
Resource estimation.
- Specification of
the grid system used.
- Quality and
adequacy of topographic
control.
|
-
Each drill hole's
collar has been surveyed with a RTK
Trimble Zephyr 3.
-
The coordinate system
used is UTM NAD83 Zone 18.
-
The Company completed a
property-wide LiDAR and
orthophoto survey in August 2022, which provides
high-quality topographic control.
-
The quality and
accuracy of the topographic controls
are considered adequate for advanced stage
exploration and development, including mineral
resource estimation.
|
Data spacing and
distribution
|
- Data spacing for
reporting of
Exploration Results.
- Whether the data
spacing and
distribution is sufficient to establish the
degree of geological and grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications applied.
- Whether sample
compositing has been
applied.
|
-
At CV5, drill hole
collar spacing is dominantly grid
based. Several collars are typically completed from the
same pad at varied orientations targeting pegmatite
pierce points of ~50 to 100 m spacing.
-
At CV13, drill hole
spacing is dominantly grid based at
~100 m; however, collar locations and hole
orientations may vary widely, which reflect the varied
orientation of the pegmatite body along strike.
-
At CV9, drill hole
collar spacing is irregular with varied
hole orientations and multiple collars on the same pad.
-
It is interpreted that
the large majority of the drill hole
spacing at each pegmatite is sufficient to support a
mineral resource estimate.
-
Core sample lengths
typically range from 0.5 to 2.0 m
and average ~1.0 to 1.5 m. Sampling is continuous
within all pegmatite encountered in the drill hole.
|
Orientation of data
in relation to
geological structure
|
- Whether the
orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this
is known, considering the deposit type.
- If the relationship
between the drilling
orientation and the orientation of key
mineralized structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.
|
-
No sampling bias is
anticipated based on structure
within the mineralized body.
-
The principal
mineralized bodies are relatively
undeformed and very competent, although have some
meaningful structural control.
-
At CV5, the principal
mineralized body and adjacent
lenses are steeply dipping resulting in oblique angles of
intersection with true widths varying based on drill
hole angle and orientation of pegmatite at that
particular intersection point. i.e., the dip of the
mineralized pegmatite body has variations in a vertical
sense and along strike, so the true widths are not
always apparent until several holes have been drilled (at
the appropriate spacing) in any particular drill-fence.
-
At CV13, the principal
pegmatite body has a shallow
varied strike and northerly dip.
-
At CV9, the orientation
and geometry of the pegmatite
is not well understood. The pegmatite is currently
interpreted to be comprised of a single principal dyke,
which outcrops at surface, has a steep northerly dip,
and is moderately plunging to the east-southeast.
|
Sample
security
|
- The measures taken
to ensure sample
security.
|
-
Samples were collected
by Company staff or its
consultants following specific protocols governing
sample collection and handling. Core samples were
bagged, placed in large supersacs for added security,
palleted, and shipped directly to Val-d'Or, QC, being
tracked during shipment along with Chain of Custody.
Upon arrival at the laboratory, the samples were cross-
referenced with the shipping manifest to confirm all
samples were accounted for. At the laboratory, sample
bags are evaluated for tampering.
|
Audits or
reviews
|
- The results of any
audits or reviews of
sampling techniques and data
|
- A review of the
sample procedures for the Company's
2021 fall drill program (CF21-001 to 004) and 2022
winter drill program (CV22-015 to 034) was
completed by an Independent Competent Person and
deemed adequate and acceptable to industry best
practices (discussed in a technical report titled "NI 43-
101 Technical Report on the Corvette Property,
Quebec, Canada", by Alex Knox, M.Sc., P.Geol., Issue
Date of June 27th, 2022.)
- A review of the
sample procedures through the
Company's 2023 winter drill program (through CV23-
190) was completed by an independent Competent
Person with respect to the CV5 Pegmatite's maiden
mineral resource estimate and deemed adequate and
acceptable to industry best practices (discussed in a
technical report titled " NI 43–101 Technical Report,
Mineral Resource Estimate for the CV5 Pegmatite,
Corvette Property" by Todd McCracken, P.Geo.,of
BBA Engineering Ltd., and Ryan Cunningham, M.Eng.,
P.Eng., of Primero Group Americas Inc., Effective Date
of June 25, 2023, and Issue Date of September 8, 2023
- Additionally, the
Company continually reviews and
evaluates its procedures in order to optimize and
ensure compliance at all levels of sample data collection
and handling
|
Section 2 – Reporting of Exploration
Results
Criteria
|
JORC Code
explanation
|
Commentary
|
Mineral tenement
and land tenure
status
|
- Type, reference
name/number,
location and ownership including
agreements or material issues with
third parties such as joint ventures,
partnerships, overriding royalties,
native title interests, historical sites,
wilderness or national park and
environmental settings.
- The security of the
tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.
|
- The Corvette
Property is comprised of 424 CDC
claims located in the James Bay Region of Quebec, with
Patriot Battery Metals Inc. being the registered title
holder for all of the claims. The northern border of the
Property's primary claim block is located within
approximately 6 km to the south of the Trans-Taiga
Road and powerline infrastructure corridor. The CV5
Spodumene Pegmatite is situated approximately 13.5
km south of the regional and all–weather
Trans-Taiga
Road and powerline infrastructure. The CV13 and CV9
spodumenepegmatites are located approximately 3 km
west-southwest and 14 km west of CV5, respectively.
- The Company holds
100% interest in the Property
subject to various royalty obligations depending on
original acquisition agreements. DG Resources
Management holds a 2% NSR (no buyback) on 76
claims,D.B.A. Canadian Mining House holds a 2%NSR
on 50 claims (half buyback for $2M) and Osisko Gold
Royalties holds a sliding scale NSR of 1.5-3.5% on
precious metals, and 2% on all other products, over
111 claims. The vast majority of the CV13Spodumene
Pegmatite, as is currently delineated, is not subject to a
royalty.
- The Property does
not overlap any atypically sensitive
environmental areas or parks, or historical sites to the
knowledge of the Company. There are no known
hinderances to operating at the Property, apart from
the goose harvesting season (typically mid-April to mid-
May) where the communities request helicopter flying
not be completed, and potentially wildfires depending
on the season, scale, and location.
- Claim expiry dates
range from February 2025 to
November 2026.
|
Exploration done
by other parties
|
- Acknowledgment and
appraisal of
exploration by other parties
|
-
No core assay results
from other parties are disclosed
herein
-
The most recent
independent Property review was a
technical report titled "NI 43-101 Technical Report,
Mineral Resource Estimate for the CV5 Pegmatite,
Corvette Property, James Bay Region, Québec,
Canada", by Todd McCracken, P.Geo., of BBA
Engineering Ltd., and Ryan Cunningham, M.Eng., P.Eng.,
of Primero Group Americas Inc., Effective Date of June
25, 2023, and Issue Date of September 8, 2023
|
Geology
|
- Deposit type,
geological setting and
style of mineralization.
|
-
The Property overlies a
large portion of the Lac Guyer
Greenstone Belt, considered part of the larger La
Grande River Greenstone Belt and is dominated by
volcanic rocks metamorphosed to amphibolite facies.
The claim block is dominantly host to rocks of the
Guyer Group (amphibolite, iron formation,
intermediate to mafic volcanics, peridotite, pyroxenite,
komatiite, as well as felsic volcanics). The amphibolite
rocks that trend east-west (generally steeply south
dipping) through this region are bordered to the north
by the Magin Formation (conglomerate and wacke) and
to the south by an assemblage of tonalite, granodiorite,
and diorite, in addition to metasediments of the Marbot
Group (conglomerate, wacke). Several regional-scale
Proterozoic gabbroic dykes also cut through portions
of the Property (Lac Spirt Dykes, Senneterre Dykes).
-
The geological setting
is prospective for gold, silver,
base metals, platinum group elements, and lithium over
several different deposit styles including orogenic gold
(Au), volcanogenic massive sulfide (Cu, Au, Ag),
komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and
pegmatite (Li, Ta).
-
Exploration of the
Property has outlined three primary
mineral exploration trends crossing dominantly east-
west over large portions of the Property – Golden
Trend (gold), Maven Trend (copper, gold, silver), and
CV Trend (lithium, tantalum). The CV5 and CV13
spodumene pegmatites are situated within the CV
Trend. Lithium mineralization at the Property,
including at CV5, CV13, and CV9, is observed to occur
within quartz-feldspar pegmatite, which may be
exposed at surface as high relief 'whale-back'
landforms. The pegmatite is often very coarse-grained
and off-white in appearance, with darker sections
commonly composed of mica and smoky quartz, and
occasional tourmaline.
-
The lithium pegmatites
at Corvette are categorized as
LCT Pegmatites. Core assays and ongoing
mineralogical studies, coupled with field mineral
identification and assays, indicate spodumene as the
dominant lithium-bearing mineral on the Property, with
no significant petalite, lepidolite, lithium-phosphate
minerals, or apatite present. The pegmatites also carry
significant tantalum values with tantalite indicated to be
the mineral phase
|
Drill hole
Information
|
- A summary of all
information material
to the understanding of the exploration
results including a tabulation of the
following information for all Material
drill holes:
-
- easting and
northing of the drill hole
collar.
- elevation or RL
(Reduced Level
– elevation above sea level in metres) of
the drill hole collar.
- dip and azimuth of
the hole.
- down hole length
and interception
depth.
- hole
length.
- If the exclusion of
this information is
justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
explain why this is the case.
|
- Drill hole
attribute information is included in a table
herein.
- Pegmatite
intersections of <2 m are not typically
presented as they are considered insignificant.
|
Data aggregation
methods
|
-
In reporting
Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (eg cutting of high grades)
and cut-off grades are usually Material
and should be stated.
-
Where aggregate
intercepts
incorporate short lengths of high grade
results and longer lengths of low grade
results, the procedure used for such
aggregation should be stated and some
typical examples of such aggregations
should be shown in detail.
-
The assumptions used
for any
reporting of metal equivalent values
should be clearly stated.
|
- Length weighted
averages were used to calculate grade
over width.
- No specific grade
cap or cut-off was used during grade
width calculations. The lithium and tantalum length
weighted average grade of the entire pegmatite interval
is calculated for all pegmatite intervals over 2 m core
length, as well as higher grade zones at the discretion
of the geologist. Pegmatites have inconsistent
mineralization by nature, resulting in some intervals
having a small number of poorly mineralized samples
included in the calculation. Non-pegmatite internal
dilution is limited to typically <3 m where relevant and
intervals indicated when assays are reported.
- No metal
equivalents have been reported.
|
Relationship
between
mineralization
widths and
intercept lengths
|
-
These relationships are
particularly
important in the reporting of
Exploration Results.
-
If the geometry of the
mineralization
with respect to the drill hole angle is
known, its nature should be reported.
-
If it is not known and
only the down
hole lengths are reported, there should
be a clear statement to this effect (eg '
down hole length, true width not known').
|
-
At CV5, geological
modelling is ongoing on a hole-by-
hole basis and as assays are received. However, current
interpretation supports a principal, large pegmatite
body of near vertical to steeply dipping orientation,
flanked by several subordinate pegmatite lenses
(collectively, the 'CV5 Spodumene Pegmatite').
-
At CV13, geological
modelling is ongoing on a hole-by-
hole basis and as assays are received. However, current
interpretation supports an upper and lower pegmatite
body, each trending sub-parallel to each other with a
shallow northerly dip (collectively, the 'CV13
Spodumene Pegmatite').
-
At CV9, geological
modelling is ongoing on a hole-by-
hole basis and as assays are received. However, current
interpretation indicates CV9 is comprised of a single
principal dyke, which outcrops at surface, has a steep
northerly dip, and is moderately plunging to the east-
southeast. A strike length of 450 m has been delineated
through drilling and outcrop.
-
All reported widths are
core length. True widths are not
calculated for each hole due to the relatively wide drill
spacing at this stage of delineation and the typical
irregular nature of pegmatite, as well as the varied drill
hole orientations. As such, true widths may vary widely
from hole to hole.
|
Diagrams
|
- Appropriate maps
and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These should
include, but not be limited to a plan
view of drill hole collar locations and
appropriate sectional views.
|
- Please refer to the
figures included herein as well as
those posted on the Company's website.
|
Balanced
reporting
|
- Where comprehensive
reporting of all
Exploration Results is not practicable,
representative reporting of both low
and high grades and/or widths should
be practiced to avoid misleading
reporting of Exploration Results.
|
|
Other substantive
exploration data
|
- Other exploration
data, if meaningful
and material, should be reported
including (but not limited to): geological
observations; geophysical survey
results; geochemical survey results;
bulk samples – size and method of
treatment; metallurgical test results;
bulk density, groundwater,
geotechnical and rock characteristics;
potential deleterious or contaminating
substances.
|
- The Company is
currently completing site
environmental work over the CV5 and CV13
pegmatite area. No endangered flora or fauna have
been documented over the Property to date, and
several sites have been identified as potentially suitable
for mine infrastructure.
- The Company has
completed a bathymetric survey
over the shallow glacial lake which overlies a portion
of the CV5 Spodumene Pegmatite. The lake depth
ranges from <2 m to approximately 18 m, although the
majority of the CV5 Spodumene Pegmatite, as
delineated to date, is overlain by typically <2 to 10 m
of water.
- The Company has
completed preliminary metallurgical
testing comprised of HLS and magnetic testing, which
has produced 6+% Li2O spodumene concentrates at
>70% recovery on both CV5 and CV13 pegmatite
material, indicating DMS as a viable primary process
approach, and that both CV5 and CV13 could
potentially feed the same process plant. A DMS test on
CV5 Spodumene Pegmatite material returned a
spodumene concentrate grading 5.8% Li2O at 79%
recovery, strongly indicating potential for a DMS only
operation to be applicable.
- Various mandates
required for advancing the Project
towards economic studies have been initiated,
including but not limited to, environmental baseline,
metallurgy, geomechanics, hydrogeology, hydrology,
stakeholder engagement, geochemical characterization,
as well as transportation and logistical studies.
|
Further work
|
- The nature and
scale of planned further
work (eg tests for lateral extensions or
depth extensions or large-scale step-
out drilling).
- Diagrams clearly
highlighting the areas
of possible extensions, including the
main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive.
|
- The Company intends
to continue drilling the
pegmatites of the Corvette Property, focused on the
CV5 Pegmatite and adjacent subordinate lenses, as well
as the CV13 Pegmatite. A follow-up drill program at
the CV9 Spodumene Pegmatite is also anticipated
|
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SOURCE Patriot Battery Metals Inc