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- Patriot Battery Metals (PMT) strikes more than 52 metres at 3.34 per cent lithium oxide within its Corvette property in Quebec
- The company has received assays from 10 holes drilled at the CV5 pegmatite that have extended the Nova Zone by at least 100 metres to the east
- A different hole delivered a 16.9-metre intersection grading two per cent lithium oxide on the far west of the CV5 pegmatite, showing high grades at both ends of the system
- PMT’s CEO, Blair Way, says the company “couldn’t be more thrilled with the results”, and it has now begun its 2023 drill campaign to further extend the system
- PMT shares are up 15.6 per cent to trade at $1.60 at 11:41 am AEDT
Patriot Battery Metals (PMT) has reported high-grade lithium mineralisation at the CV5 pegmatite within its Corvette property in Quebec.
The company received assays from 10 holes drilled last year that targeted mineralisation in the eastern area of CV5, as well as at depth over the central and eastern areas.
Among the 10 holes was CV22-093, which was the easternmost hole within this program. It returned a 52.2-metre intercept grading 3.34 per cent lithium oxide from 219.1 metres, including 15 metres at 5.1 per cent lithium oxide.
The company said the CV22-093 results confirmed the extension of the Nova Zone by at least 100 metres to the east. The zone has a strike length that now spans roughly 350 metres, and it remains open.
To the west of the CV5 pegmatite, CV22-074 returned 16.9 metres at two per cent lithium oxide, which, together with CV22-093, shows high grades at both ends of the extensive pegmatite system.
Patriot Battery Metals President, CEO and Director Blair Way said the company “could not be more thrilled with the results”.
“We have exceeded all of our program objectives, expanding the known mineralised system from a few hundred metres along strike in 2021, to at least 2.2 kilometres in 2022, remaining open and demonstrating high grades at both ends,” Mr Way said.
The company is waiting on assays for 14 holes drilled at the CV13 pegmatite. It has since begun its 2023 drilling program to extend the 2200-metre CV5 system and continue to define the CV13 discovery.
PMT shares were up 15.6 per cent to trade at $1.60 at 11:41 am AEDT.
