16:39:16 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Patriot Battery Metals Inc
Symbol PMET
Shares Issued 92,848,572
Close 2023-06-15 C$ 16.75
Market Cap C$ 1,555,213,581
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Patriot Battery to resume drilling at Corvette

2023-06-15 19:42 ET - News Release

Mr. Blair Way reports

PATRIOT PROVIDES OPERATIONAL UPDATE ON THE WORK PROGRAMS AT THE CORVETTE PROPERTY, QUEBEC, CANADA

Patriot Battery Metals Inc. has provided this update on its work programs and the lifting of the fire ban on the company's operations. The fires were more than 80 kilometres away from the company's properties and did not impact the properties. The company commenced the 2023 summer-fall drill and surface exploration programs in late May at its wholly owned Corvette property, located in the Eeyou Istchee James Bay region of Quebec.

Summary:

  • A communication has been issued by the Ministere des Ressources naturelles et des Forets advising the restrictions on forest access at the Corvette property due to the fire situation have been lifted effective June 14, 2023.
  • The company has commenced remobilization of the field exploration operations and the camp construction activities. Conditions will be closely monitored during remobilization and operations to ensure the safety of all personnel.
  • The fires in Quebec were over 80 kilometres away from the operations and did not impact the company properties.
  • The company anticipates remobilization and resumption of all activities at site by the end of June.
  • The company remains on target for a July, 2023, announcement for the initial mineral resource estimate at CV5, which will include all drill holes completed through April 17, 2023 (that is, the recently completed winter drill program).

The 2023 summer-fall exploration includes both a drill and surface exploration program which commenced at the property in late May. The multirig drill program is targeting further delineation of the CV5 and CV13 pegmatites, as well as drill testing of other previously identified spodumene pegmatite clusters (that is, CV4, CV8-12, CV9 and CV10). The surface program comprises mapping of the known spodumene pegmatite clusters and local trends as well as prospecting and rock sampling across a large portion of the remaining 20 plus kilometres of prospective lithium pegmatite trend.

About Patriot Battery Metals Inc.

Patriot Battery Metals is a hard-rock lithium exploration company focused on advancing its district-scale 100-per-cent-owned Corvette property located in the Eeyou Istchee James Bay region of Quebec, Canada. The Corvette property is one of the largest and highest-grade hard rock lithium projects being explored, with over 50 kilometres of strike length over a 214-square-kilometre land package and over 70 lithium-bearing pegmatite outcrops identified to date.

The Corvette property is situated proximal to the all-weather Trans Taiga Road and Hydro-Quebec power line infrastructure in the Eeyou Istchee James Bay region of Quebec. The property hosts significant lithium potential highlighted by the CV5 pegmatite, which has been traced by drilling over a strike length of at least 3.7 km with spodumene pegmatite encountered as deep as 425 metres vertical depth.

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