High-grade mineralised intercepts including 100.5 m at 1.62% Li2O from in-fill
drilling at the cornerstone CV5 Deposit, plus extensive
geotechnical and hydrogeological drill programs completed
supporting the Feasibility Study
VANCOUVER, BC, Nov. 26,
2024 /CNW/ - November
27, 2024 – Sydney,
Australia
Highlights
- Extensive in-fill drilling program successfully completed at
the cornerstone CV5 Spodumene Pegmatite Deposit to support the
ongoing Feasibility Study.
- No further in-fill drilling is anticipated to achieve the
primary objective of upgrading Inferred Mineral Resources to the
Indicated category.
- Record 65,384 m drilled during
summer/fall program, for a total of 128,052
m during calendar 2024, further de-risking and advancing the
Project.
- Wide, well-mineralized, and high-grade pegmatite intercepts
from in-fill drilling at CV5.
- 124.5 m at 1.25%
Li2O, including 16.5
m at 2.32% Li2O (CV24-613).
- 100.5 m at 1.62%
Li2O, including 55.5
m at 2.01% Li2O (CV24-651).
- 77.3 m at 1.66%
Li2O, including 17.5
m at 2.16% Li2O (CV24-639).
- 67.2 m at 1.18%
Li2O, and 25.8 m at
2.65% Li2O, including 17.6
m at 3.30% Li2O (CV24-661).
- 55.1 m at 1.31%
Li2O, including 9.5
m at 2.07% Li2O (CV24-609).
- 44.3 m at 1.47%
Li2O and 58.1 m at
1.21% Li2O (CV24-591).
- 48.5 m at 1.85%
Li2O, including 8.5
m at 4.86% Li2O (CV24-616).
- Expansive geotechnical and hydrogeological drill campaigns
also now largely complete at CV5 and at proposed infrastructure
development sites – 70 holes (1,514
m) completed as part of the summer-fall program.
- Core assay results are reported in this announcement for 64
in-fill drill holes (22,408 m) at CV5
and 70 geotechnical & hydrogeological drill holes (1,514 m) to support CV5 development and the
ongoing Feasibility Study.
- Results for 98 drill holes (31,513 m) remain to be reported from CV5 – 90
in-fill (29,754 m) and 8
geomechanical (1,759 m).
- Results for 33 drill holes (9,950 m) remain to be reported from CV13 –
focused on extensions of the high-grade Vega Zone.
- Delivery of Feasibility Study and maiden Ore Reserve
Estimate for the CV5 Spodumene Pegmatite remains on
schedule for Q3-2025.
Darren L. Smith, Patriot
Executive and Vice President of Exploration, comments: "We are
extremely pleased with the considerable amount of work completed
and results to date from our 2024 summer-fall drill program, which
focused on advancing the CV5 Spodumene Pegmatite to Feasibility.
The team has done a phenomenal job executing the program
efficiently and cost effectively, delivering high-quality datasets
that have exceeded our expectations in many regards. The successful
completion of the 2024 drill programs at the cornerstone CV5
Spodumene Pegmatite marks a very significant milestone for the
Project, laying the foundations for the Feasibility Study and
maiden Ore Reserve Estimate, which remains on schedule for
Q3-2025.
"With the bulk of the in-fill and development drilling now
behind us, the team is focusing on other key workstreams and
objectives to advance the Project through development. We are
looking forward to a pivotal year ahead in 2025," added Mr.
Smith.
Patriot Battery Metals Inc. (the "Company" or "Patriot")
(TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased
to announce the completion of its 2024 summer-fall drill programs
and reporting of the first batch of core assay results for in-fill
holes at the CV5 Spodumene Pegmatite, which forms part of the
Company's wholly owned Shaakichiuwaanaan Property (the "Property"
or "Project"), located in the Eeyou Istchee James Bay region of
Quebec.
The Shaakichiuwaanaan Property hosts a consolidated Mineral
Resource Estimate ("MRE") of 80.1 Mt at 1.44% Li2O
Indicated and 62.5 Mt at 1.31% Li2O
Inferred1. The CV5 Spodumene Pegmatite is
accessible year-round by all-season road and is situated
approximately 14 km from a major hydroelectric powerline
corridor.
The focus of the 2024 summer-fall drill program at
Shaakichiuwaanaan was to collect all remaining drill data required
to support a Feasibility Study for the CV5 Spodumene Pegmatite,
scheduled for completion in Q3-2025. This included:
- Significant in-fill drilling at CV5 to underpin a Mineral
Resource update (focused on converting Inferred Resources to
Indicated Resources) to underpin a maiden Ore Reserve Estimate,
which will be declared as part of the Feasibility Study.
- Expansive geotechnical and hydrogeological drilling at CV5, and
areas of proposed infrastructure in support of development.
- Geomechanical drilling targeting various areas of the
anticipated open-pit and underground development at CV5.
Drill results for 64 in-fill drill holes at the CV5 Spodumene
Pegmatite are reported in this announcement (Figure 1).
Results continue to demonstrate that high grades and large
spodumene crystal sizes are consistently present along the 4.6 km
mineralized pegmatite strike length defined to date (Figure
2 and Figure 3).
|
___________________________________
|
|
1
Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1
Mt at 1.44% Li2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt at 1.31%
Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade
of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.80%
Li2O (underground CV13) with an Effective Date of August 21, 2024
(through drill hole CV24-526). Mineral Resources are not Mineral
Reserves as they do not have demonstrated economic
viability.
|
The in-fill drill program at CV5 was completed in early October
and targeted Inferred classified blocks within the current Mineral
Resource (see news release dated August 5,
2024), which are anticipated to be included in the
Feasibility Study mine plan.
Additionally, optical and acoustic televiewer data was collected
in more than 20 holes at CV5 during the program to capture oriented
structural data to support geological modelling and mine design.
The various datasets collected are currently undergoing final
validation and are being incorporated into an updated pegmatite and
host rock geological model.
The Company and its geological consultants are working closely
to finalize this geological model over the next few weeks as the
program's final assays are received, which will then advance
towards a classified block model (Indicated / Inferred) to underpin
Feasibility mine design.
From the summer-fall program, results for a total of 98 drill
holes (31,513 m) remain to be
reported from CV5 – 90 in-fill (29,754
m) and 8 geomechanical (1,759
m). Additionally, results for a total of 33 drill holes
(9,950 m) remain to be reported from
CV13 – focused on the high-grade Vega Zone (Figure 5)
(see news release dated July 7,
2024). Core sample assays for drill holes reported herein
are presented in Table 1 for all pegmatite intersections
>2 m. Drill-hole locations and
attributes are presented in Table 2.
In addition to the in-fill drilling at CV5, a large component of
the summer-fall program comprised an expansive geotechnical and
hydrogeological drill program at CV5 and areas of proposed
infrastructure in support of development and the ongoing
Feasibility Study. This included locations for the proposed process
plant, mining camp, stockpiles, waste rock and tailings management
facilities, as well as the envisioned open-pit and underground
development areas of the CV5 Spodumene Pegmatite (Figure
4).
The objective of the hydrogeological drilling is to characterize
the shallow and deep groundwater flow regime over the Project area.
The objective of the geotechnical drilling is to characterize the
overburden and immediate bedrock contacts to support infrastructure
build design. Often both hydrogeological and geotechnical data is
collected from the same drill hole. No mineralized pegmatite
intervals were encountered in these holes, as was expected due to
their typically very shallow nature (average depth of 22 m) and regional locations (see news release
dated October 27, 2024, for
additional program details).
A collective 70 drill holes were completed as part of the
summer-fall geotechnical and hydrogeological program, all reported
in this announcement. Location and attribute information for the
geotechnical and hydrogeological drill holes are presented in Table
3.
Table 1: Core assay summary for drill holes
reported herein at the CV5 Spodumene Pegmatite.
Table 2:Attributes for drill holes reported herein at
the CV5 Spodumene Pegmatite.
|
Hole
ID
|
Substrate
|
Total
Depth
(m)
|
Azimuth
(°)
|
Dip
(°)
|
Easting
|
Northing
|
Elevation
(m)
|
Core
Size
|
Cluster
|
|
|
|
CV24-559
|
Land
|
558.8
|
170
|
-53
|
572567.1
|
5931725.4
|
374.8
|
NQ
|
CV5
|
|
|
|
CV24-563
|
Land
|
459.2
|
157
|
-46
|
568571.5
|
5930137.8
|
390.6
|
NQ
|
CV5
|
|
|
|
CV24-564
|
Land
|
317.0
|
159
|
-46
|
568577.9
|
5929989.5
|
389.5
|
NQ
|
CV5
|
|
|
|
CV24-567
|
Land
|
334.9
|
160
|
-45
|
568868.6
|
5930091.3
|
397.2
|
NQ
|
CV5
|
|
|
|
CV24-573
|
Land
|
328.9
|
160
|
-45
|
568662.2
|
5930054.0
|
387.0
|
NQ
|
CV5
|
|
|
|
CV24-574
|
Land
|
502.4
|
158
|
-47
|
572567.8
|
5931725.4
|
374.8
|
NQ
|
CV5
|
|
|
|
CV24-576
|
Land
|
358.8
|
160
|
-45
|
568902.0
|
5930133.2
|
394.3
|
NQ
|
CV5
|
|
|
|
CV24-577
|
Land
|
418.5
|
155
|
-45
|
568665.2
|
5930158.2
|
388.4
|
NQ
|
CV5
|
|
|
|
CV24-581
|
Land
|
301.9
|
160
|
-45
|
568810.4
|
5930087.1
|
394.7
|
NQ
|
CV5
|
|
|
|
CV24-585
|
Land
|
480.3
|
180
|
-45
|
572566.5
|
5931726.1
|
374.8
|
NQ
|
CV5
|
|
|
|
CV24-586
|
Land
|
395.9
|
156
|
-45
|
568872.3
|
5930201.4
|
390.1
|
NQ
|
CV5
|
|
|
|
CV24-589
|
Land
|
468.0
|
155
|
-45
|
568616.1
|
5930217.1
|
390.1
|
NQ
|
CV5
|
|
|
|
CV24-591
|
Land
|
544.9
|
160
|
-50
|
570294.1
|
5930963.7
|
384.3
|
NQ
|
CV5
|
|
|
|
CV24-592
|
Land
|
395.1
|
160
|
-52
|
568787.4
|
5930140.6
|
392.8
|
NQ
|
CV5
|
|
|
|
CV24-596
|
Land
|
551.0
|
175
|
-65
|
572564.2
|
5931726.1
|
374.5
|
NQ
|
CV5
|
|
|
|
CV24-597
|
Land
|
287.1
|
157
|
-56
|
568963.7
|
5930244.4
|
386.5
|
NQ
|
CV5
|
|
|
|
CV24-598
|
Land
|
237.0
|
155
|
-45
|
568673.3
|
5930200.9
|
389.4
|
NQ
|
CV5
|
|
|
|
CV24-599
|
Land
|
257.3
|
156
|
-45
|
568955.3
|
5930122.4
|
393.4
|
NQ
|
CV5
|
|
|
|
CV24-600
|
Land
|
347.0
|
156
|
-45
|
569049.7
|
5930158.9
|
395.9
|
NQ
|
CV5
|
|
|
|
CV24-602
|
Land
|
219.0
|
155
|
-47
|
568714.9
|
5930207.4
|
388.6
|
NQ
|
CV5
|
|
|
|
CV24-603
|
Land
|
422.0
|
158
|
-45
|
569072.2
|
5930230.8
|
396.1
|
NQ
|
CV5
|
|
|
|
CV24-604
|
Water
|
365.0
|
0
|
-90
|
572400.8
|
5931363.4
|
373.1
|
NQ
|
CV5
|
|
|
|
CV24-606
|
Land
|
422.0
|
160
|
-55
|
568769.6
|
5930183.7
|
386.7
|
NQ
|
CV5
|
|
|
|
CV24-607
|
Land
|
236.0
|
156
|
-45
|
569093.9
|
5930179.0
|
398.0
|
NQ
|
CV5
|
|
|
|
CV24-609
|
Land
|
314.0
|
160
|
-46
|
570437.9
|
5930996.3
|
384.9
|
NQ
|
CV5
|
|
|
|
CV24-610
|
Land
|
566.0
|
170
|
-60
|
572564.4
|
5931725.5
|
374.5
|
NQ
|
CV5
|
|
|
|
CV24-612
|
Land
|
125.0
|
156
|
-45
|
569114.5
|
5930130.7
|
393.4
|
NQ
|
CV5
|
|
|
|
CV24-613
|
Water
|
364.9
|
156
|
-62
|
570030.5
|
5930662.8
|
373.4
|
NQ
|
CV5
|
|
|
|
CV24-614
|
Land
|
134.0
|
156
|
-45
|
569141.9
|
5930193.2
|
399.7
|
NQ
|
CV5
|
|
|
|
CV24-615
|
Water
|
409.8
|
0
|
-90
|
572357.9
|
5931408.6
|
373.0
|
NQ
|
CV5
|
|
|
|
CV24-616
|
Land
|
398.1
|
156
|
-45
|
569100.9
|
5930296.8
|
389.9
|
NQ
|
CV5
|
|
|
|
CV24-617
|
Land
|
458.0
|
158
|
-57
|
568808.3
|
5930221.3
|
383.3
|
NQ
|
CV5
|
|
|
|
CV24-618
|
Land
|
131.0
|
158
|
-45
|
569299.9
|
5930206.2
|
393.5
|
NQ
|
CV5
|
|
|
|
CV24-620
|
Land
|
413.0
|
160
|
-60
|
572214.9
|
5931531.8
|
373.1
|
NQ
|
CV5
|
|
|
|
CV24-621
|
Land
|
333.1
|
158
|
-48
|
570534.0
|
5931023.5
|
377.2
|
NQ
|
CV5
|
|
|
|
CV24-622
|
Land
|
107.0
|
156
|
-60
|
569410.4
|
5930198.9
|
385.0
|
NQ
|
CV5
|
|
|
|
CV24-623
|
Land
|
134.0
|
160
|
-45
|
569488.6
|
5930274.4
|
382.5
|
NQ
|
CV5
|
|
|
|
CV24-626
|
Land
|
245.5
|
10
|
-45
|
569488.6
|
5930276.8
|
383.9
|
NQ
|
CV5
|
|
|
|
CV24-627
|
Water
|
394.7
|
156
|
-50
|
570030.9
|
5930662.0
|
372.9
|
NQ
|
CV5
|
|
|
|
CV24-628
|
Land
|
572.0
|
156
|
-54
|
571747.8
|
5931540.3
|
393.5
|
NQ
|
CV5
|
|
|
|
CV24-629
|
Water
|
475.8
|
0
|
-90
|
572360.3
|
5931464.6
|
371.9
|
NQ
|
CV5
|
|
|
|
CV24-630
|
Land
|
539.0
|
178
|
-60
|
572564.5
|
5931724.9
|
374.6
|
NQ
|
CV5
|
|
|
|
CV24-631
|
Land
|
140.0
|
158
|
-50
|
570577.8
|
5931046.2
|
378.7
|
NQ
|
CV5
|
|
|
|
CV24-632
|
Land
|
170.0
|
160
|
-45
|
569680.8
|
5930329.9
|
381.9
|
NQ
|
CV5
|
|
|
|
CV24-635
|
Land
|
412.5
|
140
|
-60
|
572215.2
|
5931532.2
|
373.2
|
NQ
|
CV5
|
|
|
|
CV24-636
|
Land
|
537.3
|
155
|
-50
|
570159.1
|
5930879.4
|
381.2
|
NQ
|
CV5
|
|
|
|
CV24-637
|
Land
|
414.8
|
156
|
-45
|
569052.6
|
5930284.4
|
389.9
|
NQ
|
CV5
|
|
|
|
CV24-638
|
Land
|
314.1
|
338
|
-85
|
569855.8
|
5930433.4
|
378.0
|
NQ
|
CV5
|
|
|
|
CV24-639
|
Land
|
194.0
|
355
|
-60
|
569682.3
|
5930336.1
|
382.1
|
NQ
|
CV5
|
|
|
|
CV24-641
|
Land
|
302.0
|
161
|
-47
|
569599.0
|
5930401.7
|
382.0
|
NQ
|
CV5
|
|
|
|
CV24-644
|
Land
|
434.0
|
158
|
-60
|
572151.2
|
5931550.8
|
375.9
|
NQ
|
CV5
|
|
|
|
CV24-645
|
Land
|
296.0
|
152
|
-45
|
571748.5
|
5931540.1
|
393.4
|
NQ
|
CV5
|
|
|
|
CV24-646
|
Land
|
251.0
|
338
|
-65
|
569855.6
|
5930433.6
|
378.1
|
NQ
|
CV5
|
|
|
|
CV24-650
|
Land
|
206.2
|
156
|
-52
|
569167.5
|
5930265.5
|
397.0
|
NQ
|
CV5
|
|
|
|
CV24-651
|
Land
|
289.9
|
161
|
-75
|
569598.8
|
5930402.1
|
382.0
|
NQ
|
CV5
|
|
|
|
CV24-652
|
Water
|
362.0
|
158
|
-82
|
572424.0
|
5931416.3
|
371.9
|
NQ
|
CV5
|
|
|
|
CV24-654
|
Land
|
581.1
|
140
|
-52
|
571748.8
|
5931540.6
|
393.2
|
NQ
|
CV5
|
|
|
|
CV24-655
|
Land
|
197.5
|
338
|
-45
|
569855.4
|
5930434.1
|
378.0
|
NQ
|
CV5
|
|
|
|
CV24-659
|
Land
|
224.1
|
152
|
-55
|
569231.8
|
5930246.4
|
396.9
|
NQ
|
CV5
|
|
|
|
CV24-660
|
Land
|
389.3
|
152
|
-55
|
570036.3
|
5930782.6
|
377.8
|
NQ
|
CV5
|
|
|
|
CV24-661
|
Land
|
283.8
|
158
|
-50
|
569678.9
|
5930468.7
|
382.5
|
NQ
|
CV5
|
|
|
|
CV24-662
|
Land
|
217.5
|
156
|
-45
|
569856.7
|
5930430.8
|
378.1
|
NQ
|
CV5
|
|
|
|
CV24-664
|
Land
|
400.9
|
158
|
-58
|
572151.4
|
5931550.8
|
375.9
|
NQ
|
CV5
|
|
|
|
CV24-666
|
Water
|
467.2
|
0
|
-90
|
572401.4
|
5931430.2
|
373.0
|
NQ
|
CV5
|
|
|
|
(1) Coordinate
system NAD83 / UTM zone 18N; (2) All drill holes are diamond
drill; (3) Azimuths and dips presented are those 'planned' and may
vary off collar/downhole.
|
|
|
|
|
|
Table 3:
Attributes for geotechnical and hydrogeological drill holes
reported herein.
|
|
Hole
ID
|
Substrate
|
Total
Depth
(m)
|
Azimuth
(°)
|
Dip
(°)
|
Easting
|
Northing
|
Elevation
(m)
|
Core
Size
|
|
|
|
CV24-527
|
Water
|
8.6
|
0
|
-90
|
571468.7
|
5931004.9
|
372.8
|
NQ
|
|
|
|
CV24-528
|
Water
|
108.7
|
0
|
-90
|
571721.4
|
5930952.2
|
372.4
|
NQ
|
|
|
|
CV24-530
|
Water
|
12.0
|
0
|
-90
|
571443.6
|
5931037.8
|
373.0
|
NQ
|
|
|
|
CV24-531
|
Water
|
99.4
|
0
|
-90
|
572280.4
|
5931431.0
|
379.8
|
NQ
|
|
|
|
CV24-533
|
Land
|
51.9
|
0
|
-90
|
568982.8
|
5930569.5
|
378.5
|
HQ
|
|
|
|
CV24-534
|
Land
|
56.0
|
0
|
-90
|
569493.0
|
5929975.9
|
384.3
|
HQ
|
|
|
|
CV24-536
|
Land
|
53.0
|
0
|
-90
|
568354.6
|
5930071.6
|
397.6
|
HQ
|
|
|
|
CV24-537
|
Land
|
30.6
|
0
|
-90
|
570702.3
|
5931577.7
|
384.3
|
HQ
|
|
|
|
CV24-541
|
Water
|
13.1
|
0
|
-90
|
571882.6
|
5931252.9
|
371.9
|
NQ
|
|
|
|
CV24-542
|
Water
|
11.1
|
0
|
-90
|
571235.6
|
5930959.1
|
372.9
|
NQ
|
|
|
|
CV24-544
|
Land
|
14.7
|
0
|
-90
|
570578.9
|
5932300.1
|
393.4
|
HQ
|
|
|
|
CV24-547
|
Land
|
10.3
|
0
|
-90
|
570060.1
|
5931470.4
|
390.2
|
HQ
|
|
|
|
CV24-548
|
Land
|
14.8
|
0
|
-90
|
569250.7
|
5931589.7
|
375.1
|
HQ
|
|
|
|
CV24-552
|
Land
|
11.9
|
0
|
-90
|
568913.4
|
5931773.2
|
379.4
|
HQ
|
|
|
|
CV24-553
|
Land
|
29.6
|
0
|
-90
|
567712.6
|
5931916.6
|
375.1
|
HQ
|
|
|
|
CV24-557
|
Land
|
13.4
|
0
|
-90
|
569485.5
|
5932942.9
|
371.5
|
HQ
|
|
|
|
CV24-558
|
Land
|
11.0
|
0
|
-90
|
569570.6
|
5930824.8
|
370.9
|
NQ
|
|
|
|
CV24-560
|
Land
|
10.7
|
0
|
-90
|
569788.0
|
5932229.7
|
389.8
|
HQ
|
|
|
|
CV24-562
|
Land
|
11.0
|
0
|
-90
|
569602.1
|
5930842.2
|
371.3
|
NQ
|
|
|
|
CV24-566
|
Land
|
11.5
|
0
|
-90
|
571525.7
|
5932366.7
|
387.2
|
HQ
|
|
|
|
CV24-568
|
Land
|
8.4
|
0
|
-90
|
569900.5
|
5931287.3
|
382.2
|
NQ
|
|
|
|
CV24-569
|
Land
|
12.9
|
0
|
-90
|
572288.4
|
5933463.6
|
395.5
|
HQ
|
|
|
|
CV24-570
|
Land
|
27.8
|
0
|
-90
|
571873.0
|
5935191.4
|
425.0
|
NQ
|
|
|
|
CV24-575
|
Land
|
10.5
|
0
|
-90
|
573527.0
|
5932919.4
|
403.6
|
HQ
|
|
|
|
CV24-580
|
Land
|
100.4
|
0
|
-90
|
568133.9
|
5932019.0
|
370.3
|
PQ
|
|
|
|
CV24-584
|
Land
|
7.7
|
0
|
-90
|
571179.1
|
5934865.9
|
401.1
|
NQ
|
|
|
|
CV24-587
|
Land
|
6.5
|
0
|
-90
|
570955.9
|
5935075.6
|
417.5
|
NQ
|
|
|
|
CV24-588
|
Land
|
19.5
|
0
|
-90
|
574212.9
|
5933572.5
|
408.9
|
HQ
|
|
|
|
CV24-590
|
Land
|
15.6
|
0
|
-90
|
570789.0
|
5935141.1
|
396.0
|
NQ
|
|
|
|
CV24-593
|
Land
|
5.8
|
0
|
-90
|
573387.9
|
5935420.1
|
417.9
|
NQ
|
|
|
|
CV24-594
|
Land
|
13.3
|
0
|
-90
|
571181.4
|
5934661.8
|
398.4
|
HQ
|
|
|
|
CV24-595
|
Land
|
20.1
|
0
|
-90
|
572694.7
|
5935705.3
|
433.1
|
NQ
|
|
|
|
CV24-601
|
Land
|
13.3
|
0
|
-90
|
570458.3
|
5934571.0
|
386.0
|
HQ
|
|
|
|
CV24-605
|
Land
|
5.7
|
0
|
-90
|
574442.3
|
5935103.7
|
418.5
|
NQ
|
|
|
|
CV24-608
|
Land
|
13.4
|
0
|
-90
|
571154.9
|
5935798.0
|
406.0
|
HQ
|
|
|
|
CV24-611
|
Land
|
23.7
|
0
|
-90
|
572188.6
|
5935397.7
|
423.4
|
HQ
|
|
|
|
CV24-611A
|
Land
|
12.7
|
0
|
-90
|
572191.5
|
5935398.9
|
422.5
|
HQ
|
|
|
|
CV24-619
|
Land
|
5.4
|
0
|
-90
|
574471.1
|
5934941.5
|
418.6
|
HQ
|
|
|
|
CV24-624
|
Land
|
12.5
|
0
|
-90
|
573623.0
|
5935844.4
|
460.0
|
HQ
|
|
|
|
CV24-625
|
Land
|
16.2
|
0
|
-90
|
575047.3
|
5935565.6
|
427.5
|
HQ
|
|
|
|
CV24-633
|
Land
|
22.0
|
0
|
-90
|
574950.0
|
5935682.1
|
426.2
|
HQ
|
|
|
|
CV24-633A
|
Land
|
11.7
|
0
|
-90
|
574949.3
|
5935675.7
|
425.0
|
HQ
|
|
|
|
CV24-634
|
Land
|
7.0
|
0
|
-90
|
571727.5
|
5932923.2
|
406.3
|
NQ
|
|
|
|
CV24-640
|
Land
|
21.9
|
0
|
-90
|
572328.6
|
5933074.8
|
421.0
|
HQ
|
|
|
|
CV24-640A
|
Land
|
21.5
|
0
|
-90
|
572325.2
|
5933068.1
|
375.0
|
HQ
|
|
|
|
CV24-642
|
Land
|
13.3
|
0
|
-90
|
574465.6
|
5934939.2
|
418.6
|
HQ
|
|
|
|
CV24-647
|
Land
|
5.4
|
0
|
-90
|
572503.2
|
5932757.6
|
406.2
|
NQ
|
|
|
|
CV24-649
|
Land
|
4.3
|
0
|
-90
|
573399.1
|
5933215.4
|
441.3
|
NQ
|
|
|
|
CV24-653
|
Land
|
7.1
|
0
|
-90
|
569335.0
|
5932343.0
|
396.0
|
NQ
|
|
|
|
CV24-656
|
Land
|
10.1
|
0
|
-90
|
569129.9
|
5932518.5
|
375.0
|
NQ
|
|
|
|
CV24-657
|
Land
|
11.7
|
0
|
-90
|
570732.5
|
5931935.6
|
379.3
|
HQ
|
|
|
|
CV24-658
|
Land
|
8.5
|
0
|
-90
|
569236.1
|
5932857.1
|
365.6
|
NQ
|
|
|
|
CV24-665
|
Land
|
7.2
|
0
|
-90
|
569829.6
|
5932688.4
|
395.1
|
NQ
|
|
|
|
CV24-670
|
Land
|
8.7
|
0
|
-90
|
569999.7
|
5932838.7
|
380.8
|
NQ
|
|
|
|
CV24-672
|
Land
|
11.7
|
0
|
-90
|
569572.4
|
5931586.2
|
376.4
|
HQ
|
|
|
|
CV24-673
|
Land
|
9.2
|
0
|
-90
|
570188.5
|
5931687.4
|
384.0
|
NQ
|
|
|
|
CV24-696
|
Land
|
100.0
|
0
|
-90
|
570029.7
|
5930475.8
|
379.3
|
6 inch
|
|
|
|
CV24-729
|
Land
|
139.0
|
0
|
-90
|
570775.7
|
5932261.0
|
393.4
|
6 inch
|
|
|
|
CV24-772
|
Water
|
10.7
|
0
|
-90
|
571335.7
|
5931245.7
|
372.9
|
NQ
|
|
|
|
CV24-774
|
Land
|
12.8
|
0
|
-90
|
574322.7
|
5933055.3
|
383.5
|
NQ
|
|
|
|
CV24-775
|
Water
|
11.0
|
0
|
-90
|
571221.3
|
5931212.4
|
372.8
|
NQ
|
|
|
|
CV24-776
|
Land
|
7.2
|
0
|
-90
|
571646.5
|
5932200.9
|
380.4
|
NQ
|
|
|
|
CV24-778
|
Land
|
5.7
|
0
|
-90
|
571138.9
|
5933323.5
|
378.6
|
NQ
|
|
|
|
CV24-779
|
Water
|
13.0
|
0
|
-90
|
571098.5
|
5931194.9
|
372.8
|
NQ
|
|
|
|
CV24-780
|
Land
|
9.1
|
0
|
-90
|
570917.1
|
5931288.1
|
375.9
|
NQ
|
|
|
|
CV24-782
|
Land
|
10.2
|
0
|
-90
|
570962.2
|
5931304.3
|
376.8
|
HQ
|
|
|
|
CV24-784
|
Land
|
32.0
|
0
|
-90
|
569257.8
|
5930042.2
|
388.2
|
HQ
|
|
|
|
CV24-785
|
Land
|
3.9
|
0
|
-90
|
569751.1
|
5930197.0
|
387.0
|
NQ
|
|
|
|
CV24-786
|
Land
|
25.3
|
0
|
-90
|
568840.8
|
5929943.2
|
389.2
|
NQ
|
|
|
|
CV24-787
|
Land
|
18.5
|
0
|
-90
|
569063.2
|
5930258.1
|
392.4
|
NQ
|
|
|
|
(1) Coordinate
system NAD83 / UTM zone 18N; (2) All drill holes are diamond
drill except for CV24-696 and 729, which are rotary drill (open
hole) completed for long-duration pumping tests (3) Azimuths and
dips presented are those 'planned' and may vary off
collar/downhole.
|
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% each. 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, or
Radisson, QC, for sample
preparation (code PRP90 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).
Qualified/Competent Person
The information in this news release that relates to exploration
results for the Shaakichiuwaanaan 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 an Executive and 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
Shaakichiuwaanaan Property (formerly known as Corvette) located in
the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round
by all-season road and is proximal to regional powerline
infrastructure. The Shaakichiuwaanaan Mineral Resource1,
which includes the CV5 & CV13 spodumene pegmatites, totals
80.1 Mt at 1.44% Li2O Indicated, and 62.5 Mt
at 1.31% Li2O Inferred, and ranks as the largest lithium
pegmatite resource in the Americas, and the 8th largest
lithium pegmatite resource in the world.
A Preliminary Economic Assessment ("PEA") was announced for the
CV5 Pegmatite August 21, 2024, and
highlights it as a potential North American Lithium Raw Materials
Powerhouse. The PEA outlines the potential for a competitive and
globally significant high-grade lithium project targeting up to
~800 ktpa spodumene concentrate using a simple Dense Media
Separation ("DMS) only process flowsheet.
|
1 Shaakichiuwaanaan (CV5
& CV13) Mineral Resource Estimate (80.1 Mt at 1.44%
Li2O and 163 ppm
Ta2O5 Indicated, and 62.5 Mt at 1.31%
Li2O and 147 ppm
Ta2O5 ppm Inferred) is reported at a
cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.80%
Li2O (underground CV13)
with an Effective Date of August 21, 2024 (through drill hole
CV24-526). Mineral Resources are not Mineral Reserves as they do
not have demonstrated economic viability.
|
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 on the Feasibility Study, including
the timing of its release and the content thereof, the maiden ore
reserve, and the unreported results from the 2024 summer-fall drill
campaign.
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, without
limitation, that proposed exploration and mineral resource estimate
work on the Property will continue as expected, the accuracy of
reserve and resource estimates, the classification of resources
between inferred and the assumptions on which the reserve and
resource estimates are based, long-term demand for spodumene
supply, and that exploration and development results continue to
support management's current plans for Property development and
expectations for the Project.
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 5.23)
The mineral resource estimate in this release was reported by
the Company in accordance with ASX Listing Rule 5.8 on August 5, 2024. The Company confirms that, as of
the date of this announcement, it is not aware of any new
information or data verified by the competent person 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, as at the date of
this announcement, 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 gamma sondes, 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, or Radisson, QC, for sample preparation (code
PRP90 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).
|
- Most holes are NQ
or HQ size core diamond drilling with 1 PQ hole completed.
Additionally, 2 x 6 inch rotary drill (open hole) holes were
completed. 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 either to SGS Canada's
laboratory in Val-d'Or, QC, or Radisson, QC for standard sample
preparation (code PRP90 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 or Topcon
GR-5, with small number of holes by average handheld
GPS.
- 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 (Indicated) to 100 m
(Inferred) spacing.
- At CV13, drill hole
spacing is dominantly grid based, targetting ~100 m pegmatite
pierce points; 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, or Radisson, 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 2024 winter drill program
(through CV24-526) was completed by an independent Competent Person
with respect to the Shaakichiuwaanaan's Mineral Resource Estimate
(CV5 & CV13 pegmatites) and deemed adequate and acceptable to
industry best practices (discussed in a technical report titled "NI
43–101 Technical Report, Preliminary Economic Assessment for the
Shaakichiuwaanaan Project, James Bay Region, Quebec, Canada" by
Todd McCracken, P.Geo., Hugo Latulippe, P.Eng., Shane Ghouralal,
P.Eng., MBA, and Luciano Piciacchia, P.Eng., Ph.D., of BBA
Engineering Ltd., Ryan Cunningham, M.Eng., P.Eng., of Primero Group
Americas Inc., and Nathalie Fortin, P.Eng., M.Env., of WSP Canada
Inc., Effective Date of August 21, 2024, and Issue Date of
September 12, 2024.
- 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
Shaakichiuwaanaan Property (formerly called "Corvette") is
comprised of 463 CDC claims located in the James Bay Region of
Quebec, with Lithium Innova Inc. (wholly owned subsidiary of
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 accessible year-round by all-season road is
situated approximately 13.5 km south of the regional and
all–weather Trans-Taiga Road and powerline infrastructure. The CV13
and CV9 spodumene pegmatites 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), 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, and Azimut Exploration holds 2% on NSR on 39
claims.
- 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, Preliminary Economic Assessment for the
Shaakichiuwaanaan Project, James Bay Region, Quebec, Canada" by
Todd McCracken, P.Geo., Hugo Latulippe, P.Eng., Shane Ghouralal,
P.Eng., MBA, and Luciano Piciacchia, P.Eng., Ph.D., of BBA
Engineering Ltd., Ryan Cunningham, M.Eng., P.Eng., of Primero Group
Americas Inc., and Nathalie Fortin, P.Eng., M.Env., of WSP Canada
Inc., Effective Date of August 21, 2024, and Issue Date of
September 12, 2024.
|
|
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 Shaakichiuwaanaan 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 spodumene crystal size of the pegmatites is
typically decimetre scale, and therefore, very large. 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 a series of
sub-parallel trending sills with a flat-lying to 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.
|
- Please refer to the
table(s) included herein as well as those posted on the Company's
website.
- Results for
pegmatite intervals <2 m are not reported.
|
|
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.
- 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 significant 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. Additionally, a more expansive DMS pilot program has
been completed, including with non-pegmatite dilution, and has
produced results in line with prior testwork.
- Various mandates
required for advancing the Project towards Feasibility have been
initiated, including but not limited to, environmental baseline,
metallurgy, geomechanics, hydrogeology, hydrology, stakeholder
engagement, geochemical characterization, as well as mining,
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 Shaakichiuwaanaan
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.
