Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: RGDCF) (FSE: R9GA) is pleased to announce the Company has fulfilled all its obligations pursuant to the acquisition agreement for the Freeman Creek Gold Property (the “Property”), exercising its Option in full, and is now the 100% owner of the asset. The titles are now in the process of being transferred to a wholly owned US subsidiary of the Company. The Property is located 15 km northeast of Salmon, Idaho, and is road accessible year-round.
The Company is also pleased to announce it has completed the ground geophysical survey program at the Property, which was announced August 5th, 2021.
Blair Way, Company President and Director, states, “it is great to have finalized the acquisition of Freeman and achieve 100% ownership. I am really looking forward to the interpretation of the recently completed geophysical survey so we can target the next round of drill holes at the Property”
TMC Geophysics completed the IP-resistivity geophysical survey and the Company has retained Dynamic Discovery Geoscience Ltd., an expert geophysical group based in Ottawa, ON, to assist with survey data interpretation. The primary objective of the survey was to define targets for an inaugural drill program at Carmen Creek Prospect. It will also enable the company to refine drill hole locations for follow-up drilling at Gold Dyke Prospect.
The induced polarization and IP-resistivity survey was completed over both the Carmen Creek Prospect (~10-line km) and the Gold Dyke Prospect (~6-line km). IP-resistivity is a geophysical tool commonly used in gold and base metal exploration and is often effective at qualifying drill targets initially developed from surface mapping and sampling.
The geophysical surveys are expected to elucidate a chargeability response reflective of the sulphides present, which are associated with gold and silver mineralization at both prospects. This association is strongest at Carmen Creek, where sulphide content is higher. Areas of silicification or alteration, associated with the precious metal mineralization, may also elucidate a resistivity response. The geophysical responses over the currently known mineralized zones will be used as markers to detect similar responses over the area, which may highlight additional, yet to be discovered zones of mineralization.
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base and precious metals.
The Company’s flagship assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Québec, and the Freeman Creek Gold Property, located in Idaho, USA.
The Freeman Creek Property hosts two major advanced targets; the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
The Corvette-FCI Property includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc. The claim blocks are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
On Behalf of the Board of Directors,
“BLAIR WAY” “ADRIAN LAMOUREUX”
Blair Way, President & Director Adrian Lamoureux, CEO & Director
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release