Patriot Battery Metals (ASX:PMT) has intercepted its widest mineralised intersection to date at its Corvette Property in Quebec, Canada, as part of an infill drilling program.
The $507.96 million market capitalisation company has reported core assays for the first series of drillholes completed at the CV5 spodumene pegmatite as part of its ongoing 2023 summer-fall drilling program.
Patriot says the results, which come from 13 drillholes over the western extension at CV5, have highlighted well-mineralised drill intersections from outside of the June 2023 Mineral Resource Estimate (MRE) of 109 million tonnes (Mt) @ 1.42% lithium oxide (inferred).
Key intercepts include hole CV23-199 with 172.4m @ 0.93% Li2O, including 34.5m @ 1.85% Li2O and 26.1m @ 1.81% Li2O; hole CV23-209 with 46.3m @ 1.2% Li2O and 34.8m @ 1.59% Li2O; and hole CV23-208 with 28.8m @ 1.63% Li2O including 13m @ 2.19% Li2O.
Patriot is still awaiting core sample assays for more than 140 holes drilled as part of its summer-fall campaign.
Drilling at Corvette is expected to be paused shortly through to early January due to the onset of winter conditions. Core processing will reportedly continue into December, with an organised ramp-up to 10 drill rigs beginning in early January 2024.
The company says summary drilling program updates for all holes completed as part of the summer-fall program at CV5, as well as at the CV13 and CV9 spodumene pegmatites, will be announced over the coming weeks.
Patriot Battery Metals President and Chief Executive Officer (CEO) Blair Way says high grades are being observed across ‘material widths’ over more than 4km of strike length.
“The Corvette Property continues to deliver, with our widest intercept to date. Returned core sample assays indicating wide and high-grade pegmatite intercepts continue to be returned at CV5.“
“The Corvette Property continues to deliver, with our widest intercept to date. Returned core sample assays indicating wide and high-grade pegmatite intercepts continue to be returned at CV5“
Patriot Battery Metals is a hard-rock lithium explorer focused on advancing its ‘district-scale’, wholly owned Corvette Property in the Eeyou Istchee James Bay region of Quebec, Canada.
The project hosts the CV5 spodumene pegmatite — the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE).
Patriot Battery Metals had roughly C$133.5 million cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly financial statement.
Write to Adam Drought at Mining.com.au
Images: Patriot Battery Metals
