- Patriot Battery Metals (PMET) commences the inaugural drill program at the Corvette-FCI Property
- The program is focused on the CV Lithium Trend
- This drill program will be comprised of 15 to 20 drill holes for a total of approximately 2,000 m of NQ size coring
- Upon completion of the planned 2021 work programs, the company expects to have earned a 50 per cent interest in the FCI East and West claim blocks
- The company has developed a COVID Management Plan for the program
- Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects
- Patriot Battery Metals Inc. (PMET) opened trading at C$0.50 per share
Patriot Battery Metals (PMET) has mobilized the drill rig to commence the inaugural drill program at the Corvette-FCI Property.
The program is focused on the CV5-6 Spodumene Pegmatites, part of the more than 25 km long CV Lithium Trend, as well as the core area of the more than 10 km long Maven Copper-Gold-Silver Trend.
This drill program marks the first drill testing to date along these two highly prospective trends as well as the first drill program by the company on the property to date.
This drill program will be comprised of 15 to 20 drill holes for a total of approximately 2,000 m of NQ size coring. Approximately 1/3rd of the drill meterage is expected to target the CV Lithium Trend and the remaining 2/3rd focused on the Maven Cu-Au-Ag Trend.
The company has engaged Forage Fusion Drilling Ltd. to carry out the diamond drilling with the program being managed by Dahrouge Geological Consulting Ltd. of Edmonton, AB.
Blair Way, Company President and Director, commented on the progress.
“With the drill rig mobilization, we are hitting our next milestone to advance the property and gain a deeper understanding of these two important lithium and copper trends. This work also takes us one step closer to gaining 50 per cent ownership of the FCI claim groups under the Option Agreement with O3 Mining Inc.”
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 recently completed an IP-resistivity geophysical survey over the core area of the Maven Trend as a final exploration tool to refine initial drill hole targets. A final reporting and interpretation of this data is anticipated shortly.
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks.
The core area includes an approximate 2 km long corridor of numerous spodumene pegmatite occurrences, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop where eight samples collected average 3.00 per cent Li2O and 154 ppm Ta2O5, including a peak assay of 4.06% Li2O and 564 ppm Ta2O5. The high number of well-mineralized pegmatites in this core area of the trend indicates a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present. The CV Lithium Trend, including the CV5 pegmatite, has never been drill tested.
Upon completion of the planned 2021 work programs, the company expects to have earned a 50 per cent interest in the FCI East and West claim blocks from O3 Mining Inc., having exceeded the minimum $2.25M in exploration expenditures.
Under the terms of the option agreement, Patriot may acquire an additional 25 per cent interest in the FCI East and West claim blocks, for a collective 75 per cent interest, by funding the next $2M in exploration expenditures.
The company 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.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base and precious metals.
Patriot Battery Metals Inc. (PMET) opened trading at C$0.50 per share.
