Patriot Battery Metals Commences 2025 Winter Drill Program at the Shaakichiuwaanaan Property

Associated Press

09-02-2025

Highlights
The 2025 winter drill program at the Shaakichiuwaanaan Property is well underway, targeting a minimum of 15,000 m over the January to April period.
The winter drill program has three primary objectives:
Extend the high-grade Vega Zone (CV13 Pegmatite) westward along an interpreted structural corridor toward the CV12 Pegmatite,
Test the highly prospective CV5 to CV13 pegmatite corridor, and
Complete condemnation drilling at two proposed waste rock pile locations in support of the ongoing Feasibility Study at the CV5 Pegmatite.
Up to four (4) drill rigs are anticipated to support the winter program.
Majority of the drill program anticipated to be ground supported, through a combination of all-season and winter road.
Core assay results remain to be reported for 98 drill holes (31,513 m) from the CV5 Pegmatite completed in fall 2024.
The Company is on track to provide a Feasibility Study and maiden Ore Reserve Estimate to the market in the third quarter of 2025.
Darren L. Smith, Executive and Vice President of Exploration for the Company, comments: '2025 will be a less drill intensive year compared to 2024; however, exploration drilling along the CV Trend remains a key component of the Company's flowthrough spend strategy as the CV5 Pegmatite advances through development. The primary focus for the winter drill program will be further delineation and extension of the CV13 Spodumene Pegmatite, including the high-grade Vega Zone, and supporting the Feasibility and development needs for the CV5 Spodumene Pegmatite.'
VANCOUVER, BC, Feb. 9, 2025 /PRNewswire/ - February 10, 2025 – Sydney, Australia
Patriot Battery Metals Inc. (the 'Company' or 'Patriot') (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce it has commenced the 2025 winter drill program at its wholly owned Shaakichiuwaanaan Property (the 'Property' or 'Project'), located in the Eeyou Istchee James Bay region of Quebec, Canada.
The Shaakichiuwaanaan Property hosts a consolidated (CV5 &) Mineral Resource Estimate1 of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred. The CV5 Spodumene Pegmatite is accessible year-round by all-season road and is situated approximately 14 km from a major hydroelectric powerline corridor. The CV13 Spodumene Pegmatite is situated <3 km along geological trend of the CV5 Spodumene Pegmatite.
The 2025 winter drill program commenced in late January and is planned to continue through mid-April for an estimated total of 15,000 m of NQ size coring. The program will have three primary objectives (Figure 1):
Extend the high-grade Vega zone westward, along an interpreted structural corridor, toward the CV12 Pegmatite.
Test the highly prospective CV13 to CV5 pegmatite corridor.
Complete condemnation drilling at two proposed waste rock pile locations in support of the ongoing Feasibility Study at the CV5 Pegmatite.
A total of two (2) drill rigs will target the westward extension of the high-grade Vega-Zone and the <3 km corridor between the CV13 and CV5 spodumene pegmatites that remains to be drill tested. Both rigs commenced drilling in late January and are ground supported using a combination of all-season and winter road (Figure 2, Figure 3, and Figure 4). The overarching objective is mineral resource expansion and to demonstrate connectivity between spodumene pegmatite clusters.
An additional two (2) rigs will commence drilling later in February and target condemnation (eliminating the potential for mineralisation) within the area north of the CV5 Pegmatite at the proposed locations of two waste rock piles (Figure 1). The Company has already completed surface sampling and mapping over these areas and anticipate the condemnation drilling to conclude both sites are suitable for such infrastructure development.
The Company has engaged Forage Construction Muskw Inc. ('Muskw'), a Cree owned enterprise, to carry out the diamond drilling services. Muskw was formed in 2024 as a Joint Venture between Forage Fusion Drilling and Saskounan Construction.
The Company remains on track to provide a Feasibility Study and maiden Ore Reserve Estimate to the market in the third quarter of 2025, in addition to an updated Mineral Resource Estimate. Additionally, core assay results remain to be reported for 98 drill holes (31,513 m) from the CV5 Pegmatite completed in fall 2024. Announcement of these results, as well as that of the 2024 summer surface field program, are anticipated to be reported in the coming weeks.
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1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt at 1.31% Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.80% Li2O (underground CV13) with an Effective Date of August 21, 2024 (through drill hole CV24-526). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.
Qualified/Competent Person
The information in this news release that relates to exploration results for the Shaakichiuwaanaan Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.
Mr. Smith is an Executive and Vice President of Exploration for Patriot Battery Metals Inc. and holds common shares and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette) located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral Resource1, which includes the CV5 & CV13 spodumene pegmatites, totals 80.1 Mt at 1.44% Li2O Indicated, and 62.5 Mt at 1.31% Li2O Inferred, and ranks as the largest lithium pegmatite resource in the Americas, and the 8th largest lithium pegmatite resource in the world.
A Preliminary Economic Assessment ('PEA') was announced for the CV5 Pegmatite August 21, 2024, and highlights it as a potential North American lithium raw materials powerhouse. The PEA outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation ('DMS) only process flowsheet.
1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt at 1.31% Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.80% Li2O (underground CV13) with an Effective Date of August 21, 2024 (through drill hole CV24-526). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.
For further information, please contact us at [email protected] or by calling [phone], or visit www.patriotbatterymetals.com. Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.
This news release has been approved by the Board of Directors.
'KEN BRINSDEN'
Kenneth Brinsden, President, CEO, & Managing Director
Disclaimer for Forward-looking Information
This news release contains 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.
All statements, other than statements of historical fact included in this news release, regarding the Company's strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such as 'plan', 'expect', 'estimate', 'intend', 'anticipate', 'believe', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements in this release include, but are not limited to, statements on the Feasibility Study, including the timing of its release and the content thereof, the maiden ore reserve, the unreported results from the 2024 summer-fall drill campaign, and the objectives and anticipated results of the 2025 drill program.
Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, that proposed exploration and mineral resource estimate work on the Property will continue as expected, the accuracy of reserve and resource estimates, the classification of resources between inferred and indicated and the assumptions on which the reserve and resource estimates are based, long-term demand for spodumene supply, and that exploration and development results continue to support management's current plans for Property development and expectations for the Project.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the ability to execute on plans relating to the Company's Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's business plans, financial performance and condition and may not be appropriate for other purposes.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
Competent Person Statement (ASX Listing Rule 5.23)
The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on August 5, 2024. The Company confirms that, as of the date of this announcement, it is not aware of any new information or data verified by the competent person that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.
The production target referred to in this release was reported by the Company in accordance with ASX Listing Rule 5.16 on August 21, 2024. The Company confirms that, as of the date of this announcement, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed.