Market Trends

Historic Discovery of New High-Grade Spodumene Zone at CV13 Evokes Excitement

Introduction

VANCOUVER, BC, May 6, 2024 /PRNewswire/ - Patriot Battery Metals Inc. is thrilled to announce the uncovering of a new high-grade spodumene pegmatite zone at CV13 following completion of the fruitful winter drill program at the wholly owned Corvette Property, situated in Quebec’s prolific Eeyou Istchee James Bay region. This announcement has led to a significant leap in understanding the potential of this area, bolstering the company’s confidence in its project.

Discovery Highlights

A remarkable 34.4 meters intersection of 2.90% Li2O including a higher-grade subsection of 21.9 meters grading 3.58% Li2O has been discovered in drill hole CV24-470 at the CV13 zone. Marrying the impressive mineralization with the shallow starting point at approximately 125 meters vertical depth and a near-horizontal stratum open in multiple directions, this discovery is groundbreaking. The heightened anticipation for the pending results for the adjoining drill holes has mounted and is indicative of the enormous potential within the CV13 zone.

Strategic Winter Drilling Outcomes

The winter 2024 drilling endeavor at CV13 primarily aimed to bolster the impending maiden mineral resource estimate for the pegmatite. The apportioned 11,557 meters drilling over 45 holes largely targeted extensions of the main pegmatite body, displaying a propensity for thickening and stacking, especially along the eastern arm. As the vast 62,518 meter drill program concludes—encompassing CV5's 50,961 meters (121 holes) and CV13's 11,557 meters (45 holes)—with a staggering 46,651 meters (131 holes) yet to be reported, anticipation for an updated Q3 2024 mineral resource estimate is mounting.

Implication of the Discovery

The newly discovered zone at CV13, heralded by the exceptional intercept in drill hole CV24-470, serves as a catalyst for an updated mineral resource assessment. The Q3 2024 update aims at upgrading the resource classification at CV5 and factoring in the maiden resource at CV13. With both pegmatites primed for inclusion in this update, the Company's project pipeline demonstrates marked escalation in advancement.

Contextualizing the New High-Grade Zone

Darren L. Smith, Vice President of Exploration, remarks on the significance of the discovery, emphasizing the CV13's prospective growth in multiple dimensions and the impact of these findings on the region's potential, portraying it as significantly beyond initial estimates. The follow-up drilling executed subsequent to this discovery has culminated in the intersection of pegmatite between 23 to 47 meters (core length). Such thickening near the surface is but a tease for the eagerly-awaited assays that will shed light on the continuity and richness of the zone.

Vital Drilling Statistics

The strategic placement of the drill holes at CV13, which included follow-up holes amidst the northeastern section, yielded a highlight of a substantial interval with individual samples exceeding 5% Li2O in content. This indicates not only the high-grade nature of the discovery but also points to a robust potential for resource development within this newly identified zone at CV13.

Project Background from Vancouver and Sydney

The press release from Vancouver, BC and Sydney, Australia has particularly underscored the variable orientation and a newly identified significant grade accompanying the recent find. Providing a geological context, it's underscored that the pegmatite intercepts were identified to be rich in spodumene, demonstrating grades of lithium oxide of about 3.0% over the sampled interval and peaking at staggering figures of 6.33% Li2O. The data underpins the high-yield potential of the location, instilling optimism in the regional prospects for lithium.

Geology and Visualization Enhancements

Visual representations of the discoveries and drill holes, such as preliminary cross-sections of the geological model at CV13 and the spread of drill holes, provide compelling evidence of the mineralization. Images showcasing the zones of high-grade intercepts in core samples from CV13 and the presence of substantial spodumene crystals in quartz pegmatite from the same drill hole offer substantive clarity. All these insightful figures and infographics can be accessed directly through the URLs provided in the press release.

URLs with Relevant Images:

• Figures and images of CV13 geological model and drill holes: Image URLs

• High-grade spodumene pegmatite intercept in drill hole CV24-470 at CV13: Image URLs

• Large spodumene crystals in quartz pegmatite from CV24-470: Image URLs

• Core assay and drill hole summary tables: Image URLs

Quality Assurance and Control

Patriot Battery Metals Inc. has meticulously adhered to industry best practices concerning quality assurance and control protocols. These include systemic integration of quartz blanks, certified reference materials for batch sampling, precision assessments through pulp-split sample duplicates, and validation via secondary laboratory check analysis—all crucial for upholding the precision and integrity of the drilling and exploration process. The strategic partnership with SGS Canada has guaranteed meticulous sample preparation and elemental analysis using modern ICP-AES/MS technologies at their facilities.

The CV Lithium Trend Explained

Spanning over 50 kilometers within the Corvette Property, the CV Lithium Trend constitutes an unfolding district discovered in 2017. It is worth noting that the current CV5 spodumene pegmatite comprises a significant component of this trend. With a mineral resource estimate of over 109.2 Mt at 1.42% Li2O inferred, this constitutes the largest lithium pegmatite resource in the Americas, showcasing the exceptional scale of the venture.

Leading Exploration Teams and Competent Persons

Darren L. Smith, M.Sc., P.Geo., has received approval for the information germane to exploration results shared within this news release. A longstanding member of the Ordre des Géologues du Québec and the Association of Professional Engineers and Geoscientists of Alberta, his comprehensive experience underpins significant confidence in these results.

About Patriot Battery Metals Inc.

Patriot Battery Metals Inc. stands at the helm, pioneering in the hard-rock lithium exploration sphere with the extensive Corvette Property in Quebec, Canada. Proximate to seasoned road and powerline infrastructure, the Property takes pride in housing the CV5 Spodumene Pegmatite with a maiden mineral resource estimate that marks it as one of the world's top ten largest lithium pegmatite resources. The comprehensive property also boasts multiple other spodumene pegmatite clusters that await further exploration to unlock their potential.

Contact and Additional Information

For further exploration data, interested parties are encouraged to access the continuous disclosure filing available at www.sedarplus.ca and www.asx.com.au. Patriot Battery Metals Inc. stands ready to usher in a new era of lithium exploration with its latest discovery at CV13, rounding up the news with contact details for further inquiries and a directive from Kenneth Brinsden, President, CEO, & Managing Director.

A Forward-looking Odyssey

This discovery has fueled Patriot Battery Metals Inc’s resolve to deepen its exploration forays, augmented by forward-looking statements about potential operations advancements. The news release expansively outlines organizational strategies, developmental progressions, and the dynamism of geological assessments that enhance the comprehension of the Company's financial and operational trajectory.

A Comprehensive Assurance for Investors

The Company’s forward-looking statements incorporate meticulous assumptions and delve into identifying potential nuances in mineral resource estimates and anticipated developmental workflows. They also emphasize the precautionary measures regarding the integrity of data in light of known and unknown risks, serving as a testament to the Company’s accountability and diligence when orchestrating its venture.

JORC Code Compliance and Reporting Standards

Patriot Battery Metals Inc.’s meticulous adherence to the JORC Code, apparent in the detailed exploration reports, comes inclusive of the exploratory sampling techniques, data aggregation methodologies, and reporting of exploration results. Ensuring compliance with industry-recognized standards affirms the company's commitment to transparency and high-quality exploration programs.

Conclusion

The intricately woven fabric of the news release, bolstered by promising discoveries and visionary plans, portrays an impressive portrait of Patriot Battery Metals Inc.’s advancements in the exploration domain. Grounded in robust scientific processes and forward-looking testimony, the declaration of the new high-grade zone at CV13 shines a beam of optimism on the future of lithium resources. Aspiring to step into uncharted territories, the company sets a benchmark for lithium exploration endeavors.

(The article could not be extended further to meet the 1500 words target without additional content or repetitiveness.)