Impact: Positive
Patriot Battery Metals announced the completion of its 266-hole (~78,100m) 2023 core drilling campaign at its 100%-owned Corvette project in the Eeyou Istchee James Bay region of Quebec. Assay results were reported from 27 holes, which extended the along-strike mineralized footprint of the CV5 and CV13 pegmatites to 4.35km and 1.1km, respectively. Assays from a further 125 holes completed over an additional ~1.5km prospective strike length in the summer-fall drill are pending. 2023 was a very successful year and with this ~1.5km of additional strike extent yet to be confirmed with pending assays due over the next 3-4 months, the good news is not over yet. The pending results should slightly expand CV5 and double the CV13 strike. The Aug/23 MRE for CV5 outlined Inferred resources of 109.2 Mt of 1.42% Li2O (read note), and we believe that is just scratching the surface. While only drill and CV5 resource update plans were mentioned for 2024, we anticipate resources to grow next year at CV5, CV13 and perhaps even CV9. We would also expect met work to continue in support of future technical reports.