Shaakichiuwaanaan PROPERTY
Shaakichiuwaanaan Property – Formerly known as Corvette Property, CV5 Spodumene Pegmatite (moving west)
100% owned, large, consolidated land package – 214 claims totalling 21,715 ha – strategically located in the James Bay Region of Quebec, covering ~50 km of prospective lithium pegmatite trend along the La Grande Greenstone Belt.
Location and Access
CV5 Spodumene Pegmatite is located central to the Property
The CV5 Pegmatite is accessible by winter road with an all-season access road fully permitted and expected to be finished construction by mid 2024.
An exploration camp at KM-270 of the Trans-Taiga Road, approximately 15 km north of the CV5 Pegmatite, has been constructed with an 80-person initial capacity. The camp is anticipated to expand to 150-person capacity in the second half of 2024.
Canadian Permitting Process:
Situated within the La Grande Greenstone Belt, the Shaakichiuwaanaan Property hosts significant mineral potential over multiple deposit types. Patriot Battery Metals owns 100% of a 217 km2 Shaakichiuwaanaan Property land package, covering ~50 km of prospective lithium pegmatite trend.
Exploration of the Property has outlined three primary mineral exploration trends, crossing dominantly east-west over large portions of the Property’s principal claim group – Golden Trend (gold), Maven Trend (copper, gold, silver), and CV Trend (Li-Cs-Ta Pegmatite). The Golden Trend is focused over the northern areas of the Property, the Maven Trend in the southern areas, and the CV Trend “sandwiched” between. Historically, the Golden Trend has received the exploration focus followed by the Maven Trend. However, the identification of the CV Trend and the numerous lithium-tantalum pegmatites discovered to date, represents a previously unknown lithium pegmatite district that was first recognized in 2016/2017 by Dahrouge Geological Consulting Ltd. and the Company.
Through 2022, seven distinct lithium pegmatite clusters have been discovered along the CV Lithium Trend at the Shaakichiuwaanaan Property – CV4, CV5, CV8, CV9, CV10, CV12, and CV13.
In excess of 70 lithium pegmatite outcrops identified over +20 km of trend evaluated to date.
Over 70 lithium pegmatite outcrops identified:50+ km of trend with only ~25 km evaluated through 2022, and more than 20 km remaining to be explored
Multiple distinct clusters of lithium pegmatite outcrop identified at the Property
As of September 2023, the CV5 Spodumene Pegmatite has been traced by drilling over a strike length of 4.35 km and remains open along strike at both ends, and to depth along a significant portion of its length
A mineral resource estimate for the Shaakichiuwaanann Project planned for mid 2024
* The CV5 mineral resource estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.
Through September 2023
*CV5 mineral resource (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.4% Li2O with effective date of June 25, 2023. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Refer to Mineral Resource Statement in Appendix. Largest lithium pegmatite in the Americas and 8th largest in the world based on contained LCE.
(Above) Side view of CV5 Spodumene Pegmatite geological model looking northerly (340°) – principal pegmatite and subordinate lenses.
*CV5 mineral resource (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.4% Li2O with effective date of June 25, 2023. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Refer to Mineral Resource Statement in Appendix. Largest lithium pegmatite in the Americas and 8th largest in the world based on contained LCE.
The CV5 mineral resource* block model, at a pit-constrained inferred level of confidence, incorporates ~3.4 km of the total 4.35 km long pegmatite as has been defined by drilling through September 2023.
(Above) Select views of the pit constrained, inferred classified block model.
*CV5 mineral resource (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.4% Li2O with effective date of June 25, 2023. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Refer to Mineral Resource Statement in Appendix. Largest lithium pegmatite in the Americas and 8th largest in the world based on contained LCE.
Cut-off grade sensitivity analysis defines very high-grade and significant tonnage at high cut-off grade, and excellent grade with significant tonnage at low cut-off grade:
* The CV5 mineral resource estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.
$109 million investment by Albemarle
Memorandum of Understanding
Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Refer Spodumene Pegmatite in Appendix, and announcement dated 23 November, Amended – Patriot Makes New Discovery at Shaakichiuwaanann Project – Formerly known as Corvette Project.
Shaakichiuwaanaan Property is Strategically Positioned to Feed the Growing Quebec and US markets
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Visual observations relating to the abundance of spodumene crystals logged in the drill core should not be considered a substitute for a laboratory analysis. Assay results are required to determine the grade of mineralisation identified in geological logging.
“The technical information herein has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed on behalf of the Company by Mr. Darren L. Smith, M.Sc., P.Geo., and Vice President of Exploration for Patriot Battery Metals., a Qualified Person and registered permit holder with the Ordre des Géologues de Québec”