Patriot Battery Metals (TSXV: PMET) yesterday saw it fit to halt trading in the final hour of the day, before releasing the latest drill results from its flagship Corvette Property, which is found in the James Bay Region of Quebec. With two minutes to go during the regular session, the company reported “the highest grade lithium drill intercept” that it has hit to date.
A total of fourteen drill holes saw assays reported, with drilling conducted during a 2022 program. Drilling was focused on the CV5 Pegmatite. Highlights from the results include:
- CV22-069: 1.72% Li2O over 45.3 metres, including 2.11% Li2O over 31.0 metres
- CV22-070: 1.95% Li2O over 31.2 metres, including 2.78% Li2O over 9.0 metres
- CV22-080: 1.33% Li2O over 49.5 metres
- CV22-083: 2.12% Li2O over 156.9 metres, including 5.04% Li2O over 25.0 metres
The largest intercept, which occurred in hole CV22-083, is said to have intersected a high grade zone within the CV5 Pegmatite, which has now been defined over 250 metres. The hole was designed as a 100 metre step-out from hole CV22-066, which was previously indicated to have intersected 1.61% Li2O over 113.1 metres. The CV5 Pegmatite meanwhile has now been traced to a strike length of 2,200 metres with mineralization open at both ends and to depth.
“As we move east, we are defining a significant high-grade zone at a coarse drill spacing of 50 to 100 m. The recently commenced winter drill program will continue to probe and delineate this area ahead of an initial mineral resource estimate planned for the first half of 2023,” commented Darren Smith, VP of Exploration for Patriot Battery Metals.
Assays from a total of 24 holes from the 2022 drill program are yet to be reported, ten of which were conducted at the CV5 Pegmatite, with the remainder having been drilled at the CV13 Pegmatite cluster.
Patriot Battery Metals last traded at $7.93 on the TSX Venture.
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