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Corvette – FCI Property

Corvette – FCI Property

Gold, Copper, Silver, Lithium

  • Corvette (100%) and FCI (Option to earn 75% from O3 Mining)
  • Staged earn-in – $2.25M in exploration over 3 years for 50%, plus next $2M of JV for additional 25%
  • Multiple prospective exploration trends identified
  • Maven Copper-Gold-Silver Trend – more than 10 km
  • Lithium Trend – more than 25 km
  • Gold Trend – more than 20 km

The Elsass and Lorraine copper-gold-silver prospects are new 2019 discoveries and are located on the FCI West claim block, in an area not historically prospected, approximately 2.5 km southeast of the Golden Gap Prospect, and within the Maven Copper-Gold-Silver Exploration Trend. The main trend contains the new 2019 Lorraine (8.15% Cu, 1.33 g/t Au, & 171 g/t Ag), Elsass (3.63% Cu, 0.64 g/t Au, & 52.3 g/t Ag), and Black Forrest (1.13% Cu, 0.05 g/t Au, and 19.5 g/t Ag) discoveries, as well as the historical Lac Smokycat-SO (1.75% Cu, 1.47 g/t Au, & 40.5 g/t Ag) and Tyrone T-9 showings (3.36% Cu, 0.82 g/t Au, & 38.4 g/t Ag), collectively spanning a strike length of over 5 km. The trend continues for another 3+ km to the southeast with the incorporation of the newly discovered Hund Showing (3.28% Cu, 0.78 g/t Au, & 30.1 g/t Ag) and additional proximal historical showings, for a collective prospective copper-gold-silver trend of more than 8 km.

Corvette-FCI Summary - Click to Enlarge

GEOLOGY

  • Situated within the La Grande Greenstone Belt, the Corvette-FCI Property hosts significant mineral potential over multiple deposit types
  • Orogenic gold (greenstone/lode)
  • Volcanogenic Massive Sulphide
  • Lithium pegmatite
  • Komatiite (ultramafic) Ni-Cu-PGE
  • Magmatic-hydrothermal
Maven Trend - Click to Enlarge

Maven Copper-Gold-Silver Exploration Trend

The Elsass and Lorraine copper-gold-silver prospects are new 2019 discoveries and are located on the FCI West claim block, in an area not historically prospected, approximately 2.5 km southeast of the Golden Gap Prospect, and within the Maven Copper-Gold-Silver Exploration Trend. The main trend contains the new 2019 Lorraine (8.15% Cu, 1.33 g/t Au, & 171 g/t Ag), Elsass (3.63% Cu, 0.64 g/t Au, & 52.3 g/t Ag), and Black Forrest (1.13% Cu, 0.05 g/t Au, and 19.5 g/t Ag) discoveries, as well as the historical Lac Smokycat-SO (1.75% Cu, 1.47 g/t Au, & 40.5 g/t Ag) and Tyrone T-9 showings (3.36% Cu, 0.82 g/t Au, & 38.4 g/t Ag), collectively spanning a strike length of over 5 km. The trend continues for another 3+ km to the southeast with the incorporation of the newly discovered Hund Showing (3.28% Cu, 0.78 g/t Au, & 30.1 g/t Ag) and additional proximal historical showings, for a collective prospective copper-gold-silver trend of more than 8 km.

Maven Trend - Click to Enlarge
Maven Trend (Core Trend) - Click to Enlarge

ELSASS & LORRAINE PROSPECTS

High-grade chalcopyrite mineralization in outcrop within amphibolite host at Elsass and Lorraine Cu-Au-Ag prospects.

Elsass: 1.86% Cu, 1.12 g/t Au, 32.6 g/t Ag - Click to Enlarge
Elsass: 2.68% Cu, 0.20 g/t Au, 43.9 g/t Ag - Click to Enlarge
Lorraine: 8.15% Cu, 1.33 g/t Au, 171.0 g/t Ag - Click to Enlarge
Lorraine: 0.23% Cu, 3.55 g/t Au, 37.7 g/t Ag - Click to Enlarge

Golden Gap Prospect

The Golden Gap Prospect is an auriferous horizon associated with a deformation zone in a volcano-sedimentary sequence. Mineralization is associated with deformed quartz veins and pyrrhotite-pyrite-arsenopyrite sulphide assemblage. Historical sampling at Golden Gap, completed by Virginia Mines Inc., returned 3 to 108.9 g/t Au in outcrop and 10.5 g/t Au over 7 m in drill hole. In 2019, surface sampling by the Company discovered two new areas of outcrop exposure assaying 1.87 g/t and 2.81 g/t Au and indicate a possible western surface extension of the main Golden Gap occurrence. The newly discovered showings are located approximately 200 and 750 m, respectively, to the west of the westernmost drill hole completed at Golden Gap.

Visible gold in folded quartz vein – returned 14.15 g/t Au over 0.5 m (drill hole FCI-10-010) - Click to Enlarge
Golden Gap Prospect Geology - Click to Enlarge
Golden Gap Prospect - Click to Enlarge

Lac Bruno Prospect

Historical sampling at the Lac Bruno Prospect identified a number of angular gold-bearing boulders, initially interpreted as frost-heave, with thirteen (13) samples assaying >1.0 g/t Au, including a sample of 38.1 g/t Au. The mineralized boulders consist predominately of mineralized amphibolite over a small area. Two historical drill holes completed directly under the boulder field failed to intersect mineralization, with the source subsequently re-interpreted to be further to the northeast, in the up-ice glacial direction.

The 2019 program at Lac Bruno involved confirmatory re-sampling of the historical boulder field showing, as well as prospecting, rock sampling, and soil sampling in the up-ice direction. The field work was successful with 11.9 g/t Au sampled at the main showing, confirming historical grades, as well as an outcrop discovery of a mineralized quartz vein within an amphibolite host returning 1.4 g/t Au. In addition, the results of the soil sample grid highlight an anomalous gold trend towards the east, in potential source area where little to no historical exploration has been completed. Follow-up surface work is targeted over this area to identify the source of the high-grade boulder field.

Lac Bruno Prospect - Click to Enlarge

Platinum – Palladium

The Corvette-FCI Property hosts a strong potential for platinum group element mineralization (PGEs); however, PGEs have seen only limited exploration attention historically, with most samples collected from the Property not analyzed for PGEs. The potential is highlighted by a historical sample of outcrop which assayed 3.1 g/t Au, 1.06 g/t Pd, 0.005 g/t Pt, 7.5 g/t Ag, 0.24% Cu, 0.19% Ni, and 411 g/t Co (Lac Long Sud showing). This unit is located at the eastern end of the more-than-10-kilometre-long Maven trend where significant Cu-Au-Ag mineralization in outcrop was discovered during the company’s 2019 summer exploration program, including 8.15% Cu, 1.33 g/t Au and 171 g/t Ag, and 3.63% Cu, 0.64 g/t Au and 52.3 g/t Ag. The historical samples with PGE enrichment are interpreted to be associated with komatiite (ultramafic) bodies. Numerous additional ultramafic bodies have been mapped across the Property and remain to be assessed for their PGE potential.

Platinum-Palladium Potential - Click to Enlarge

Lithium – Tantalum Pegmatites

To date, a total of eleven (11) well mineralized spodumene pegmatites – seven (7) of which were discovered in 2019 – have been identified on the Corvette-FCI Property with the discoveries outlining a prospective lithium exploration corridor across the entirety of the Corvette-FCI Property – in excess of 25 km of prospective trend.

The potential is highlighted by the CV1 and CV5-6 pegmatite occurrences, which outline a core lithium trend in excess of two kilometres.

The CV5 spodumene pegmatite is the largest and most well-mineralized occurrence discovered to date on the Property, with approximate exposed dimensions of 220 m long x 20-40 m wide, with CV1 similar in size.

Discovered in 2019, a total of eight (8) samples have been collected from CV5, averaging 3.00% Li2O and 154 ppm Ta2O5, including a peak assay of 4.06% Li2O and 564 ppm Ta2O5.

There are a high number of well-mineralized pegmatites indicate a strong potential that a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene pegmatites, with significant lateral and depth extent, may be present.

The exploration trend remains unexplored for lithium over most of its length with the pegmatites discovered to date typically hosting a strong tantalum component in addition to the lithium. No drill testing of pegmatites has been completed to date.

Lihtium Pegmatites - Click to Enlarge
Core Lithium Trend - Click to Enlarge
Spodumene crystals at CV1 Pegmatite - Click to Enlarge
CV8 Pegmatite: 2.06% Li2O and 205 ppm Ta2O5 - Click to Enlarge
CV5 Pegmatite (~220 m x 20-40 m exposure) – all pegmatite samples collected in 2019 average 3.00% Li2O and 154 ppm Ta2O5 - Click to Enlarge

Darren L. Smith, V.P. Exploration, at Metals Investors Forum

Darren L. Smith’s Presentation

Darren L. Smith’s Interview

Note: Patriot Battery Metals was formerly known as Gaia Metals Corp.

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