- 0.93% Li2O and 114 ppm Ta2O5 over 146.8 m (from 26.0 to 172.8 m), including
- 1.09% Li2O and 108 ppm Ta2O5 over 73.0 m, and
- 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m
- 1.39% Li2O and 107 ppm Ta2O5 over 11.5 m (from 202.0 to 213.4 m)
The first drill hole of the program (CF21-001) was collared approximately 30 m back from CV5 and returned a 146.8 m interval of near continuous pegmatite, assaying 0.93% Li2O and 114 ppm Ta2O5, including 1.09% Li2O and 108 ppm Ta2O5 over 73.0 m, and 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m. This interval returned numerous samples over 2.0% Li2O, including a peak assay of 4.16% Li2O and 233 ppm Ta2O5 over 1.01 m. Additional assay highlights are presented below in Table 1, as well as Figure 1.
Table 1: Core sample assay highlights from drill hole CF21-001 at the CV5 Pegmatite
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The outcrop exposure of the CV5 Pegmatite trends for approximately 220 m and varies between 20-40 m in width; however, its orientation is not well constrained. Based on the recent drilling, the CV5 Pegmatite does not appear to conform to the dip of the regional geology as measured at surface, and thus additional drilling is required to constrain the contact of the pegmatite with the host rock. Therefore, at this time, true thickness of the pegmatite body is not known.
The assay results from drill hole CF21-001 are consistent with surface sampling results completed in 2019 and confirm the lithium mineralization extends from surface to significant depth. In addition to the primary mineralized quartz-feldspar pegmatite intersection at CV5, a second interval of pegmatite at depth returned 1.39% Li2O and 107 ppm Ta2O5 over 11.5 m, including 3.11% Li2O and 125 ppm Ta2O5 over 4.1 m and a peak sample assay of 5.43% Li2O (over 1.0 m). Further, drill holes CF21-002, 003, and 004 each intersected wide intervals of pegmatite containing varying amounts of spodumene mineralization (assays pending), ranging from 59.1 m to 126.5 m core length. Collectively, the grades returned to date at surface and from CF21-001, coupled with the wide widths of spodumene pegmatite observed in core over several drill holes along strike, emphasize the size of the mineralizing system and indicate the Company has tapped into a mineralized body of potentially considerable significance.
The lithium mineralization is also accompanied by moderate to strong tantalum mineralization and includes wide intervals over 100 ppm Ta2O5 (Table 1). Depending on the mineralizing system, tantalum may or may not be present in addition to lithium. However, where present it may be recoverable as a by-product using common ‘off the shelf’ mineral processing techniques such as magnetic separation.
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor, which is part of the more than 25-km long CV lithium trend. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop with a drill intercept of 146.8 m at 0.93% Li2O and 114 ppm Ta2O5 returned from the first drill hole to test the target. The high number of well-mineralized pegmatites in this core area of the trend indicates a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.
The 2021 drill program, completed in September-October, included fifteen (15) holes totalling 2,048 m spread over two prospective trends – the CV Lithium Trend (872 m over 5 holes) and the Maven Copper-Gold-Silver Trend (1,177 m over 10 holes). Assays for the remaining drill holes have not yet been received, with all core samples in process at the analytical lab.
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, as well as collection of quarter-core duplicates, at a rate of approximately 5%. The Company also intends to submit approximately 5% of the core samples for check analysis at a secondary lab. A total of 1,766 samples, including QAQC, have been submitted for geochemical analysis to the primary lab.
Drill hole CF21-001 was sampled from top to bottom (2.28 m to 229.14 m), for a total of 261 samples including QAQC, and were shipped to
The Company notes that it carried out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic, and successfully navigated the process to enter the
Figure 1: Drill hole locations – CV5-6 pegmatites
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About
The Company’s flagship assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining Inc.) located in the
The Corvette-FCI Property includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc. The claim blocks are contiguous, and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
The 100% owned Freeman Creek Gold Property hosts two major advanced targets - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in
For further information, please contact us at info@patriotbatterymetals.com, Tel: +1 (778) 945-2950, or visit www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
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Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release
Table 1
Core sample assay highlights from drill hole CF21-001 at the CV5 Pegmatite
Figure 1
Drill hole locations – CV5-6 pegmatites
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