Patriot Battery Metals (CSE: PMET)(OTC: PMETF) President Blair Way on Initial Assays, Upcoming Drill Program & Working Towards a 100 Million Tonne Resource in 2022

Blair Way: I'm great, Gerardo. How are you doing?

Blair Way: Yeah, that's quite a mouthful. As you know, this is our first assay release from the winter drill program, so now we've got a pipeline of assays which will keep flowing in sort of proportional to the way that we submitted them to the lab over the drill program this winter. But yeah, we couldn't be happier with these first four holes, which are essentially the step out from CV5, working our way east towards CV1. Obviously there's the other rig that was also on site, which started drilling a little bit after this rig. So that's hole number 17 and the subsequent ones will be following in later assay reports.

But yeah, we couldn't be happier. This is demonstrating our expectations as we advance our way along the body. We're seeing the pegmatite, we're seeing the mineralization in the pegmatite. I mean, we couldn't be happier with the numbers that we're seeing and it's just starting to grow the scale of what we have here.

Blair Way: For sure. I mean, the goal is, as you mentioned, we've got this delineation between CV5 and CV1 that we've been working on all winter with the drill program and that works out to 1.4 kilometers. We're just working our way from each end to cover that 1.4 kilometers. So by adding these first four holes and assays, it's just confirming us as we grow the scale of what we understand is underground.

And what's really great about this is that so far, the modeling that we're doing is showing it to be a relatively straightforward ore body, or deposit. So as we add the assays to it, that model will continue to evolve. And we'll be able to share that at some point, but it's still too early with the assays pending. But we have a 1.4 kilometer zone as the maps on our news release are showing and then if we include the distance to CV6, so we go from CV6 to CV5 to CV1, that's a total two kilometers.

So the goal is with the assays that we've done from the drilling this winter, that will provide us with insights into that 1.4 kilometer and help us grow that scale and then as soon as the drilling starts in early June, we'll continue to work our way west from CV5 to CV6, because those are land based holes. And that actually gives us the opportunity to prove up what we have in this two kilometer section.

And the scale of this is starting to really sink in and I think investors are seeing it as well. There certainly is a great potential for this pegmatite body to demonstrate the mineralization. We've got something pretty substantial here. Let alone the fact that we have a number of other satellite outcrops, at least 11 other individual outcrops that we've identified on parts of our ground that we have been on. In addition to that, there's a bunch of ground that we haven't been on that we acquired earlier this year. So we have a ton of field work mapping going on and at the same time we've got a third rig, as we've mentioned in previous press releases. Third rig coming in and that third rig’s job is going to be testing some of these other outcrops so we can see what sort of occurrences we have, scale of occurrences we have at these other outcrops.

Blair Way: Yeah, we are subject to the time that the lab takes and to be honest, sometimes when they take longer, it's a good thing. There's over limit testing, it means they have to go back and just double check and triple check. But certainly we seem to be in a groove and I expect it at least to be weekly, but if it's every week, week and a half, we'll have another fresh batch of holes come through and we'll report them as soon as we can sort of tally up the numbers and make sure everything's right. And yeah, we'll be definitely sharing it with investors as soon as we can.

Blair Way: Absolutely. And this is a thing that maybe some people aren't fully aware of if they're new to the company. It's just the scale of the ground that we have here, this area that we're working on and we've definitely focused in for drilling to delineate what we have, but it is just 5% of the total ground that we hold. There is another 11 outcrops, some of which we may be able to connect in a similar way. So that third rig, that is going to be a big part of its job when it arrives to site. Obviously the first two rigs are already at site. The third rig will be mobilized once the snow is gone, but the first two rigs are going to focus on working on the CV5, CV1 area.

But yeah, as soon as that third rig comes in and we've had a chance to spend a bit of time on the ground so that we can prioritize which one of the outcrops or outcrops we are going to drill in between or around. But really the goal is that third rig is working mostly on the lithium outcrops, the outcrops that we haven't done any work on. The other two rigs are working on our CV5, CV6 area or CV5 to CV1. And it really is from CV6, CV5 to CV1, which is that two kilometer trend.

Blair Way: No, I think we've touched on all the hot tickets here. We've got assays coming. We've got drilling commencing in a few weeks time, so we're going to just have a continuous news flow. There'll be a gap in the assays from the next round of drilling, but we're going to have something to talk about for the whole summer into fall. And as we continue to grow the drilling, as we get the assay results on what we've drilled, I think we'll have a lot to talk about.

Blair Way: Fully funded. Absolutely. So we're well and truly funded with our flow through financing we did last year and that covers us for the full drill program into the new year.

Blair Way: Thanks, Gerardo. Great to catch up again.