Patriot Battery Metals (TSXV: PMET; ASX: PMT; OTCQX: PMETF) is beginning one among Quebec’s largest winter lithium drilling packages at its Corvette property close to James Bay because it prepares an preliminary useful resource estimate for the top of June.
The Vancouver-based firm plans to make use of 5 rigs to drill 20,000 metres within the interval to April, it mentioned in a information launch on Thursday. It needs to elongate a 2.2-km strike it calls CV5 and hyperlink targets alongside a 4.3-km development of spodumene pegmatite it found in 2017.
Patriot mentioned drilling on the web site about 300 km east of James Bay is geared toward revealing the near-surface lateral behaviour of the CV5 pegmatite to find out the place infrastructure can be situated in a possible prefeasibility examine, in addition to assist outline associated discipline packages for this 12 months.
“The 2022 drilling has outlined one thing very particular at Corvette and this winter season will additional broaden on this important discovery,” Patriot president and chief government officer Blair Method mentioned within the launch. “The 12 months 2023 might be a transformative 12 months for the corporate as we advance to an preliminary mineral useful resource.”
Patriot is amongst a rising group of explorers and builders drawn to the booming trade of battery metals for electrical automobiles and different clear power applied sciences. Lithium costs have soared in a market that Tesla boss Elon Musk has known as “insane” whereas he and different producers scramble for provides.
The explorer has accomplished 95 drill holes totaling 27,470 metres at targets alongside the Corvette development. Assays reported final month embody gap CV22-066 chopping 113.4 metres grading 1.61% lithium oxide (Li2O) from 162.1 metres depth, together with 38 metres grading 2.17% Li2O.
Gap CV22-062 returned 60 metres grading 1.52% Li2O from 25.3 metres downhole, together with 18 metres at 2.16% Li2O.
Patriot is within the last levels of setting up a 20-km winter street from the all-season Trans-Taiga street to the Corvette drill space. It’ll scale back a dependence on helicopters.
Three rigs are on web site and two extra are anticipated in early February as ice thickens to assist drilling over the shallow glacial lake that covers components of the deposit, Blair mentioned.
“We might be higher positioned to proceed to drill out the CV5 pegmatite cluster at an aggressive tempo, whereas additionally additional testing the CV13 pegmatite cluster.”