Highlights
- Environmental baseline data collection continued on the Project this winter period, including a large mammal survey and winter bird survey.
- Environmental surveys are planned for the remainder of the year and will provide important baseline data for the CV5 Project impacts assessment.
- A Phase I hydrogeological program targeting the CV5 Pegmatite area is underway at site.
- Authorization for an all-season road is pending. Construction is anticipated to be completed in H2 2023, for use beginning in Q1 2024.
- Order has been placed for a camp (up to 80 persons) and is expected to be operational by early summer.
- Scheduling underway for summer-fall field and desktop component activities including a Phase II hydrogeological program, geotechnical drilling and sampling, infrastructure site selection, condemnation drilling, and various environmental surveys.
Blair Way, Company Director, President, and CEO, comments: “The winter period at the Project has been extremely busy. In the past three months we have drilled the same meterage that we did for the total drill program in 2022. In addition to advancing the exploration work, with six (6) drill rigs currently active at site, we have been focusing on various surveys and studies required to move the Project to Pre-Feasibility and commencement of the permitting process. The pace will continue through the summer-fall period with our initial mineral resource estimate at CV5 planned for late June. Delineation drilling, environmental baseline work, submission of a project description, and development studies will be a priority throughout 2023 and the new camp and all-season road are key milestones in expediting these activities. 2023 is shaping up to be a very busy year for the Company as we also advance the Corvette Property on environmental, geological, engineering, and permitting fronts.”
VANCOUVER, British Columbia and SYDNEY, Australia, April 12, 2023 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on its activities focused on the development of the CV5 Pegmatite, at its wholly owned Corvette Property (the “Property” or “Project”), toward Pre-Feasibility. The Property is located in Eeyou Istchee James Bay, Quebec, approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
Concurrent to the ongoing drill program at the CV5 Pegmatite (see news release dated March 29, 2023 ), the Company has been completing various activities and studies in support of advancing the CV5 Pegmatite toward Pre-Feasibility. These mandates are part of a broader work program including desktop and site environmental, hydrogeological, geotechnical, geomechanical, social, and various other disciplines required for evaluating economics and other pertinent factors in a potential development scenario of the Project at a Pre-Feasibility Study level (“PFS”).
Over the course of the winter program, environmental baseline data collection at the Project has continued, including a large mammal survey and a winter bird survey. The information collected from these surveys, which must be performed at a certain time of the year, will feed into an overall Environmental and Social Impact Assessment (“ESIA”) process for the Project. Various additional environmental surveys are planned over the remainder of the year and will collectively form a baseline in which to evaluate potential impacts of the Project under a select development scenario, as well as determining corresponding mitigation measures. The ESIA process is a key component in evaluating the potential development of a project and, therefore, the local community and indigenous peoples are involved throughout the entire process.
A hydrogeological drill program, comprised of a total of twelve (12) NQ-size holes is well-advanced at the CV5 Pegmatite, and is being completed to collect groundwater data in the envisioned pit area. Additionally, six (6) HQ-size drill holes will be completed for installation of monitoring wells to evaluate groundwater conditions over time. The data collected from tests (e.g., packer testing) at these drill holes sites will be used to determine a hydrogeological model for the envisioned open-pit at CV5 in support of advancing to Pre-Feasibility. Such information is required to determine pit stability and natural water infiltration and flow rates.
A formal authorization request for an all-season road, designed to follow closely that of the current winter road, has been submitted. Authorization is expected in the early summer with construction anticipated to be completed throughout the second half of 2023, for use starting in Q1 2024. The upgrade of the winter road to an all-season road will reduce dependency on helicopters and significantly reduce Project transportation costs by enabling direct access to the drill area at the CV5 Pegmatite. The all-season road will connect the drill area at the CV5 Pegmatite directly to the Trans-Taiga Road, which is connected to the provincial road network.
In order to optimize logistics and support the increase in activities planned at the Project, preparations have been advanced for a Phase I camp (up to 80 persons). This camp is anticipated to be located proximal to the Trans-Taiga Road, at the north end of the Company’s planned all-season road, located approximately 13.5 km north of the CV5 Pegmatite, and is expected to be ready for use by early summer. A Phase II expansion of the camp, for accommodation of up to 150 persons, is also being considered and is expected to be ready in Q4 2023, pending receipt of all required authorizations.
Other ongoing activities include a concentrate transportation study, geochemical characterization of pegmatite and non-pegmatite rock types, as well wetland mapping, and waste rock / tailings site selection. Planning is also underway for summer-fall field and desktop activities including a Phase II hydrogeological program, geotechnical drilling and sampling, infrastructure site selection, condemnation drilling, hydrology surveys, and various other environmental baseline surveys. The Company will provide further updates on the Project’s activities and studies related to its ongoing PFS as this work continues.
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 3.15 km long spodumene pegmatite (the ‘CV5 Pegmatite’) and multiple proximal secondary spodumene pegmatite lenses.
To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV5 Pegmatite and associated lenses, CV4, CV8-12, CV9, CV10, and the recently discovered CV13. 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. Further, the high number of well-mineralized pegmatites along the trend indicate 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.
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, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 1968), 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 a Senior Geologist and Project Manager with Dahrouge Geological Consulting Ltd. Mr. Smith 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 JORC Code, 2012. 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. 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 3.15 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,
“ BLAIR WAY ”
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 and PFS report 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.
