Vancouver, BC, Canada – Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: RGDCF) (FSE: R9GA) is pleased to provide an update on the Corvette-FCI drill program currently underway at the Company’s flagship Corvette-FCI Property (the ‘Property’). The objectives of the program are to complete initial drill testing of the CV5 and CV6 spodumene pegmatites on the CV Lithium Trend, as well as drill test the numerous copper-gold-silver occurrences along the Maven Trend.
A total of four (4) NQ size diamond drill holes (~758 m) have now been completed at the CV5 (3 holes) and CV6 (1 hole) pegmatites. Spodumene pegmatite has been encountered in each drill hole. Sample processing is continuing, with the first two drill holes having been shipped for analysis to Activation Laboratories in Ancaster, ON. The drill rig has now mobilized from the CV5-6 area to the eastern portions of the Maven Trend (Lac de la Corvette and Tyrone targets), where drilling of the third hole at Maven, hole 7 of the overall drill program, is ongoing.
Blair Way, Company President and Director, comments: “The lithium drill core processing is nearly complete with the first two holes having been shipped to the lab, and I look forward to reporting assay results. The labs are exceptionally busy these days, so I expect some of these results to push up against Christmas and into the new year. However, I do expect results by late November for the first hole. It is very exciting to be putting holes down in the never before drilled CV and Maven trends and I look forward to providing further updates on our progress.”
The Maven-Cu-Au-Ag Trend hosts numerous mineralized showings and prospects over a more than 10 km long corridor across the Property. Surface sample assay highlights (and corresponding showing/prospect) include: 3.63% Cu, 0.64 g/t Au, and 52.3 g/t Ag(Elsass), 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag (Lorraine), 3.28% Cu, 0.78 g/t Au, and 30.1 g/t Ag (Hund), 3.36% Cu, 0.82 g/t Au, 38.4 g/t Ag (Tyrone-T9) and 1.75% Cu, 1.47 g/t Au, and 40.5 g/t Ag (Lac Smokycat-SO). The Company has recently completed an IP-resistivity geophysical survey over the core area of the trend as a final targeting tool to refine initial drill hole locations (see news release dated August 19th, 2021). The dominant rock type at Maven is amphibolite with a chalcopyrite – quartz ± pyrrhotite accessory mineral assemblage. The chalcopyrite is often associated with quartz and is present as disseminations within quartz veins, or as semi-massive veinlets. The Maven Trend had never been drill tested prior to the current program.
The Company notes that it has developed a COVID Management Plan for the program and will carry-out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
JWC Market Awareness Group Marketing Services Update
In addition, the Company has accelerated some aspects of the marketing services provided by JWC Market Awareness Group, Inc. (“JWC”) to raise awareness of the Company activities. The last 8 weeks of marketing services provided excellent exposure to new shareholders as the Company continues to advance the drill program on its flagship Corvette-FCI Property. The Company has committed to an additional US$500,000 in marketing spend towards another 6 month program. JWC will utilize social media, digital advertising, SMS, email and push notifications. The various online programs aim to increase greater following, increase Company awareness and ideally attract new investors.
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 100% owned Freeman Creek Gold Property, located in Idaho, USA.
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.
The 100% owned Freeman Creek Gold 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.
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