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- Patriot Battery Metals’ (PMT) first round of drilling this year at its Corvette Property in Canada has hit spodumene pegmatite ranging between eight to 132 metres wide
- The results come from geological logging of the first four drill holes completed at the CV5 pegmatite and extend the main pegmatite body by 400 metres
- The early results take the strike length of the pegmatite to 2.6 kilometres, remaining open along strike and at depth
- Four drill rigs are on site to complete a targeted 20,000 metres of drilling by April and a fifth drill rig is due to be collared shortly
- Company shares are up 15.7 per cent, trading at $1.92 at 11:55 am AEDT
Patriot Battery Metals’ (PMT) first round of drilling this year at its Corvette Property in Canada has hit spodumene pegmatite ranging between eight to 132 metres wide.
The winter phase of the company’s 2023 drilling campaign is focused on the CV5 pegmatite. Based on geological logging, the first four drill holes completed have extended the strike of the main pegmatite body by 400 metres to the east.
The early results take the strike length of the pegmatite to 2.6 kilometres and remains open along strike and at depth.
Company President, CEO and Director Blair Way said the results mark a great start to PMT’s 2023 drill program.
“We are collaring at wide step-outs of 100 metres on this first series of holes to the east and have now extended the principal spodumene pegmatite body at least another 400 metres.
“With four drill rigs now active on site, and earlier than anticipated, we will continue to advance aggressively as we look ahead to an initial mineral resource estimate targeted for the first half of 2023,” Mr Way said.
The company reported eight drill holes for around 3400 metres had been completed as at January 30, and a minimum of 20,000 metres was targeted to be completed by April.
In particular, step out drilling is planned to continue along strike eastwardly towards the CV4 Pegmatite cluster, which is now within approximately two kilometres of the easternmost drill hole from CV5.
To help with the workload, Patriot said a fifth drill rig would be collared shortly.
Company shares were up 15.7 per cent to trade at $1.92 at 11:55 am AEDT.
