Patriot Battery Metals Inc. (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) produced high value assay results from its 2024 drilling campaign at the CV5 Spodumene Pegmatite in the James Bay region of Quebec.
Announced on Wednesday, the project carries a miaden mineral resource estimate (MRE) of 109.2 Mt at lithium dioxide inferred. The project is located 13.5 kilometers south of the Trans-Taiga Road and attendant powerline infrastructure.
The 2024 winter drill program at CV5 concentrated on resource infill, spanning approximately 3.9 km of the total 4.6 km pegmatite strike length defined so far. The main goal of the infill drilling was to enhance the confidence in the geological model at CV5, aiming to upgrade mineral resources from the inferred to the indicated category.
This effort involved delineating a coherent body of indicated mineral resources to support advanced development and upcoming economic studies at CV5.
The company collected drill results for 34 drill holes, completed during the recently completed 2024 winter drill program at the CV5 Spodumene Pegmatite. Highlights include:
- 126.3 m at 1.66per cent Li2O, including 54.9 m at 2.50per cent Li2O (CV24-374).
- 100.8 m at 1.97per cent Li2O, including 69.8 m at 2.52per cent Li2O (CV24-392).
- 90.2 m at 1.29per cent Li2O and 48.5 m at 1.25per cent Li2O (CV24-377).
The drill hole results show strong grades and continuity of spodumene pegmatite at CV5. Specifically, drill hole CV24-374 intercepted 126.3 m at 1.66 per cent Li2O. This is compared to the 86 m intercept predicted by the geological model in the June 2023 MRE.
The CV5 Spodumene Pegmatite. Image via Patriot Battery Metals.
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Winter campaign totalled 62,518m across 166 holes
The 2024 winter drill program at the property totalled 62,518 m across 166 holes—50,961 m in 121 holes at CV5, and 11,557 m in 45 holes at CV13, with results from 46,933 m in 132 holes still to be reported. Laboratories have now received core samples from all drill holes completed during the program, with analytical processing underway. Patriot Battery Metals is set to resume its infill drill program at CV5 in early summer.
The company intends on updating its MRE for the Corvette Project, and will include drilling through April 2024. The prospective update will also include both the CV5 and CV13 spodumene pegmatites. Additionally, the company expects to cover a total of 134,129 m across 369 holes and 29,121 m across 133 holes.
“The 2024 resource infill drilling at CV5 advanced very well over the recently completed winter program, with the first batch of assays producing some stellar results,” Darren L. Smith, vice president of Exploration, said.
“The team has done a phenomenal job, and all remaining core samples are now at the lab for processing. We are now focused on refining the pegmatite geological model and domaining through integration of the core assay data as it comes in.”
Collectively, through April 2024, drilling has traced the CV5 Spodumene Pegmatite over a strike length of 4.6 km. This pegmatite remains open along strike at both ends and to depth over a significant portion of its length.
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