VANCOUVER, British Columbia and SYDNEY, Australia, June 23, 2023 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) provides this update on the Company’s operations. The wildfires continue to impact Quebec resulting in suspension of all site based work activities on the Company’s wholly owned Corvette Property (the “Property” or “Project”), located in the Eeyou Istchee James Bay region of Quebec. All personnel have been demobilised until the situation improves. The wildfires are having minimal direct impact on the property however helicopters assigned to the Project have been requisitioned by the government for the fire fighting activities in the province. Until those helicopters are released the Company will be unable to conduct drilling activities on the property. The situation is evolving continuously and the Company is monitoring it very closely.
The Company continues to work on the Mineral Resource Estimate (“MRE”) scheduled for release in late July. The Quebec wildfires have impacted some of the work activities of the assay laboratory. Despite these negative impacts, the Company does not expect this impact on the release of the mineral resource to be significant.
Going forward, the Company is well positioned with a winter snow road which is now permitted for conversion to an all-weather exploration road. The upgrading of this road will be of critical importance to the Company. It will enable the drill program to be conducted through the months of October, November and December when fog in the region negatively impacts the transportation by helicopters. The Company is examining how quickly this road can be upgraded to facilitate a longer drilling season to make up for this lost time due to wildfire bans.
The Company is also advancing its 100% owned exploration camp to further enable a more efficient drilling program going forward. The new camp will decrease travel time significantly while reducing the dependency on the helicopters when combined with the all-weather exploration road. These initiatives will be progressed as soon as the wildfire bans are lifted by the authorities.
While the Company is disappointed that the exploration program is currently suspended, the focus on the health and safety of our employees and contractors remain the priority. Patriot is confident that the investments in the exploration camp and the all-season road will enable the achievements of this year’s exploration program and enhance shareholders’ value.
The 2023 summer-fall exploration includes both a drill and surface exploration program which commenced at the Property in late May. The multi-rig drill program is targeting further delineation of the CV5 and CV13 pegmatites, as well as drill testing other previously identified spodumene pegmatite clusters (i.e., CV4, CV8-12, CV9, and CV10). The surface program comprises mapping of the known spodumene pegmatite clusters and local trends as well as prospecting and rock sampling across a large portion of the remaining 20+ km of prospective lithium pegmatite trend.
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. The Corvette Property is one of the largest and highest-grade hard rock lithium projects being explored, with over 50 kilometres of strike length over a 214 square kilometre land package and over 70 lithium bearing pegmatite outcrops identified to date.
The Corvette Property is situated proximal to the all-weather Trans Taiga Road and Hydro-Québec power line infrastructure in the Eeyou Istchee James Bay region of Quebec. The Property hosts significant lithium potential highlighted by the CV5 Pegmatite, which has been traced by drilling over a strike length of at least 3.7 km with spodumene pegmatite encountered as deep as 425 m vertical depth.
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.sedar.com and www.asx.com.au , for available exploration data.
This news release has been approved by the Board of Directors,
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BLAIR WAY
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Blair Way, President, CEO, & Director
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties, including without limitation statements with respect to potential continuity of pegmatite bodies, and mineral resource estimate preparation. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company with securities regulators, available at www.sedar.com and www.asx.com.au. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
No securities regulatory authority or stock exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
