Press Releases

Patriot Extends Vega Zone with Standout Intercepts including 9.7 m at 5.16% Li2O and 35.3 m at 2.40% Li2O

By Patriot Battery Metals Inc.
VANCOUVER, BC, July 7, 2024 /PRNewswire/ – July 8, 2024 – Sydney, Australia

Highlights

Significant expansion to the recently discovered high-grade Vega Zone at the CV13 Spodumene Pegmatite. Highlights from the 2024 winter drill program include:

51.7 m at 1.77% Li2O, including 9.7 m at 5.16% Li2O (CV24-525).

35.3 m at 2.40% Li2O, including 17.4 m at 3.12% Li2O (CV24-520).

34.8 m at 1.87% Li2O, including 19.1 m at 3.17% Li2O (CV24-524).

41.5 m at 2.00% Li2O, including 10.6 m at 3.50% Li2O (CV24-510).

Vega Zone is interpreted to be relatively flat-lying to shallowly dipping and near-surface, covering an area of ~380 m x 220 m with a true thickness of ~8 to 30+ m, hosted within a wider mineralized pegmatite body. It remains open in several directions.

Results for all drill holes completed during the 2024 winter program have now been reported – 50,961 m (121 holes) at CV5 and 11,557 m (45 holes) at CV13.

The Vega Zone is a key target for the ongoing summer-fall drill program, with the mineralization delineated to date remaining open in several directions.

Patriot remains on schedule for a Mineral Resource Estimate update for the Corvette Project in August 2024, including both the CV5 and CV13 spodumene pegmatites.

Darren L. Smith, Patriot’s Vice President of Exploration comments, “The final holes from our recently completed winter drill program at CV13 confirm a significant discovery of high-grade spodumene pegmatite at the Vega Zone, with high-grade mineralisation now defined over a significant area.”  

“With such high grades present at the Vega Zone – akin to what we see at the Nova Zone at CV5 – including a standout 9.7 m intercept grading over 5% Li2O, the new results clearly validate the considerable potential at CV13 as well as that of the larger mineralized system at Corvette. We intend to further delineate this discovery as part of our recently commenced summer-fall drill program,” added Mr. Smith.

Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the final batch of core assay results from the CV13 Spodumene Pegmatite from its 2024 winter drill program at the Corvette Property, including holes targeting the recently discovered high-grade Vega Zone.

The 100%-owned Corvette Property (the “Property” or “Project”) is located in the Eeyou Istchee James Bay region of Quebec. The CV13 Spodumene Pegmatite is located approximately 3 km west-southwest of the CV5 Spodumene Pegmatite, which hosts a maiden Mineral Resource Estimate (“MRE”) of 109.2 Mt at 1.42% Li2O Inferred1 and is situated approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure.

Core assay results for 16 drill holes, completed during the 2024 winter drill program at the CV13 Spodumene Pegmatite, are reported in this announcement (Figure 2 and Table 1). This is the final batch of core assay results for CV13 drill holes from this program. Highlights, each from the Vega Zone, include:

51.7 m at 1.77% Li2O, including 9.7 m at 5.16% Li2O (CV24-525).

35.3 m at 2.40% Li2O, including 17.4 m at 3.12% Li2O (CV24-520).

34.8 m at 1.87% Li2O, including 19.1 m at 3.17% Li2O (CV24-524).

41.5 m at 2.00% Li2O, including 10.6 m at 3.50% Li2O (CV24-510).

These four drill holes (CV24-510, 520, 524, and 525) were completed as follow-up to the discovery hole at the Vega Zone (CV24-470), which returned 34.4 m at 2.90% Li2O, including 21.9 m at 3.58% Li2O (see news release dated May 6, 2024), and drill holes reported on June 10, 2024 (CV24-498, 499, 507, and 513).

The highest-grade intercept (of significant width) to date from CV13 is reported in this announcement from drill hole CV24-525 (9.7 m at 5.16% Li2O), which was the last drill hole to target the Vega Zone during the 2024 winter program (Figure 5). This drill hole contains five individual core samples (each ranging from 1.1 m to 2.0 m in width) with assays >5% Li2O, and nine samples >3% Li2O. 

Geological modelling (see preliminary cross-sections in Figure 1, Figure 3, and Figure 4) indicates the Vega Zone to be relatively flat-lying to shallow dipping and near-surface (starting at ~100 m vertical depth from surface), covering an area of approximately 380 by 220 m (drill hole intercept to drill hole intercept) with an interpreted true thickness of ~8 to 30+ m, hosted within a wider moderately to strongly mineralized pegmatite body. The Vega Zone remains open in several directions following the 2024 winter drill program.

The high-grade Vega Zone at CV13 Pegmatite is situated approximately 6 km south-west and along geological trend of the high-grade Nova Zone at the CV5 Pegmatite. Both zones share several similarities including lithium grades and very coarse decimetre to metre size spodumene crystals (Figure 6). However, both pegmatite zones have distinct orientations whereby the Vega Zone is relatively flat-lying to shallow dipping while the Nova Zone is steeply dipping to vertical.  

Along the western arm of CV13, drill hole CV24-506 demonstrates that the pegmatite remains mineralized and open at depth in this area with an intercept of 8.2 m at 1.14% Li2O (Figure 7). The principal pegmatite in this area dips north-easterly at approximately 25° and ranges in thickness from approximately 7 m to 19 m.

To date, the CV13 Spodumene Pegmatite, through outcrop and drill hole data, is confirmed to extend over a strike length of at least 2.3 km and down-dip for at least 400 m, and remains open at both ends and to depth.

Results for all drill holes completed during the 2024 winter program have now been reported – 50,961 m (121 holes) at CV5 and 11,557 m (45 holes) at CV13. An updated MRE for the Corvette Project, incorporating drilling through April 2024 (i.e., end of the 2024 winter drill program) at both the CV5 and CV13 pegmatites, is scheduled for August 2024.

A follow-up drill program at CV13, focused on further delineation of the high-grade Vega Zone, is currently underway as part of this summer-fall drill program. Approximately 10,000 m of drilling is under consideration targeting the CV13 Spodumene Pegmatite’s Vega Zone and the immediate corridor eastwards towards the CV5 Spodumene Pegmatite.

However, the primary focus and objective of the summer-fall program will be drilling at the CV5 Spodumene Pegmatite to support an increase in MRE confidence from the Inferred category to the Indicated category. This work is designed to underpin a Mineral Resource Estimate of sufficient scale and confidence (i.e., Indicated classification) to support the Feasibility Study for the Project, which is currently scheduled for completion in the second half of 2025.

Core sample assays for drill holes reported herein from the CV13 Spodumene Pegmatite are presented in Table 1 for all pegmatite intersections >2 m. Drill hole locations and attributes are presented in Table 2.

1The CV5 Mineral Resource Estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 Inferred) is reported at a cut-off grade of 0.40% Li2O with effective date of June 25, 2023(through drill hole CV23-190). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

Quality Assurance / Quality Control (QAQC)

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches at a rate of approximately 5%. Additionally, analysis of pulp-split sample duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.

All core samples collected were shipped to SGS Canada’s laboratory in Val-d’Or, QC, or Radisson, QC, for sample preparation (code PRP90 special) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50).

About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and is interpreted to span more than 50 kilometres across the Corvette Property. The core area includes the approximate 4.6 km long CV5 Spodumene Pegmatite, which hosts a maiden Mineral Resource estimate of 109.2 Mt at 1.42% Li2O Inferred1.

To date, eight (8) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, and the recently discovered CV14. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite “outcrop” subsurface.

Qualified/Competent Person

The information in this news release that relates to exploration results for the Corvette Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.

Mr. Smith is Vice President of Exploration for Patriot Battery Metals Inc. and holds common shares and options in the Company.

Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.

About Patriot Battery Metals Inc.

Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada, and proximal to regional road and powerline infrastructure. The Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden Mineral Resource Estimate of 109.2 Mt at 1.42% Li2O Inferred1 and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as significant areas of prospective trend that remain to be assessed.

1The CV5 Mineral Resource Estimate (109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 Inferred) is reported at a cut-off grade of 0.40% Li2O with an Effective Date of June 25, 2023(through drill hole CV23-190). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

For further information, please contact us at [email protected] or by calling +1 (604) 279-8709, or visit www.patriotbatterymetals.com. Please also refer to the Company’s continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.

This news release has been approved by the Board of Directors.

“KEN BRINSDEN”                                          

Kenneth Brinsden, President, CEO, & Managing Director

Disclaimer for Forward-looking Information

This news release contains “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management’s current expectations and plans that allows investors and others to have a better understanding of the Company’s business plans and financial performance and condition.

All statements, other than statements of historical fact included in this news release, regarding the Company’s strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such as “plan”, “expect”, “estimate”, “intend”, “anticipate”, “believe”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this release include, but are not limited to, statements concerning: the completion and release of an updated MRE on the Property, the potential of the Vega Zone, statements relating to the continuity of spodumene pegmatite at CV5, and statements about the probability that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite “outcrop” subsurface.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include that proposed exploration and mineral resource estimate work on the Property will continue as expected, and that exploration and development results continue to support management’s current plans for Property development.

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the ability to execute on plans relating to the Company’s Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company’s most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company’s business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

Competent Person Statement (ASX Listing Rule 5.22)

The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023. The Company confirms that, as of the date of this announcement, it is not aware of any new information or data verified by the competent person that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person’s findings are presented have not been materially modified from the original market announcement. 

Appendix 1 – JORC Code 2012 Table 1 (ASX Listing Rule 5.7.1)

Section 1 – Sampling Techniques and Data

Criteria

JORC Code explanation

Commentary

Sampling techniques  

Nature and quality of sampling (eg cut channels, random chips, or specific specialized industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralization that are Material to the Public Report.

In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverized to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralization types (eg submarine nodules) may warrant disclosure of detailed information.

 

Core sampling protocols meet industry standard practices.

Core sampling is guided by lithology as determined during geological logging (i.e., by a geologist). All pegmatite intervals are sampled in their entirety (half-core), regardless if spodumene mineralization is noted or not (in order to ensure an unbiased sampling approach) in addition to ~1 to 3 m of sampling into the adjacent host rock (dependent on pegmatite interval length) to “bookend” the sampled pegmatite.

The minimum individual sample length is typically 0.5 m and the maximum sample length is typically 2.0 m. Targeted individual pegmatite sample lengths are 1.0 to 1.5 m.

All drill core is oriented to maximum foliation prior to logging and sampling and is cut with a core saw into half-core pieces, with one half-core collected for assay, and the other half-core remaining in the box for reference.

Core samples collected from drill holes were shipped to SGS Canada’s laboratory inVal-d’Or, QC, or Radisson, QC,forsample preparation (code PRP90 special) which included drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. Core sample pulps were shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50).

 

Drilling techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

 

NQ or HQ size core diamond drilling was completed for all holes. Core was not oriented.

 

Drill sample

recovery

Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximize sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

 

All drill core was geotechnically logged following industry standard practices, and include TCR, RQD, ISRM, and Q-Method. Core recovery is very good and typically exceeds 90%.

 

Logging

Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

 

Upon receipt at the core shack, all drill core is pieced together, oriented to maximum foliation, metre marked, geotechnically logged (including structure), alteration logged, geologically logged, and sample logged on an individual sample basis. Core box photos are also collected of all core drilled, regardless of perceived mineralization. Specific gravity measurements of pegmatite are also collected at systematic intervals for all pegmatite drill core using the water immersion method, as well as select host rock drill core.

The logging is qualitative by nature, and includes estimates of spodumene grain size, inclusions, and model mineral estimates.

These logging practices meet or exceed current industry standard practices.

 

Sub-sampling

techniques and

sample preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to maximize representivity of samples.

Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

 

Drill core sampling follows industry best practices. Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. The same side of the core was sampled to maintain representativeness.

Sample sizes are appropriate for the material being assayed.

A Quality Assurance / Quality Control (QAQC) protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation at a secondary lab.

All protocols employed are considered appropriate for the sample type and nature of mineralization and are considered the optimal approach for maintaining representativeness in sampling.

 

Quality of assay

data and laboratory

tests

The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

 

Core samples collected from drill holes were shipped to SGS Canada’s laboratory inVal-d’Or, QC, or Radisson, QC,forstandard sample preparation (code PRP90 special) which included drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. Core sample pulps were shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50).

The Company relies on both its internal QAQC protocols (systematic use of blanks, certified reference materials, and external checks), as well as the laboratory’s internal QAQC.

All protocols employed are considered appropriate for the sample type and nature of mineralization and are considered the optimal approach for maintaining representativeness in sampling.

 

Verification of

sampling and

assaying

The verification of significant intersections by either independent or alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

 

Intervals are reviewed and compiled by the VP Exploration and Project Managers prior to disclosure, including a review of the Company’s internal QAQC sample analytical data.

Data capture utilizes MX Deposit software whereby core logging data is entered directly into the software for storage, including direct import of laboratory analytical certificates as they are received. The Company employs various on-site and post QAQC protocols to ensure data integrity and accuracy.

Adjustments to data include reporting lithium and tantalum in their oxide forms, as it is reported in elemental form in the assay certificates. Formulas used are Li2O = Li x 2.153, and Ta2O5 = Ta x 1.221.

 

Location of data

points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

 

Each drill hole’s collar has been surveyed with a RTK Trimble Zephyr 3.

The coordinate system used is UTM NAD83 Zone 18.

The Company completed a property-wide LiDAR and orthophoto survey in August 2022, which provides high-quality topographic control.

The quality and accuracy of the topographic controls are considered adequate for advanced stage exploration and development, including mineral resource estimation.

 

Data spacing and

distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

Whether sample compositing has been applied.

 

At CV5, drill hole collar spacing is dominantly grid based. Several collars are typically completed from the same pad at varied orientations targeting pegmatite pierce points of ~50 to 100 m spacing.

At CV13, drill hole spacing is a combination of grid based (at ~100 spacing) and fan based with multiple holes collared from the same pad. Therefore, collar locations and hole orientations may vary widely, which reflect the varied orientation of the pegmatite body along strike.

At CV9, drill hole collar spacing is irregular with varied hole orientations and multiple collars on the same pad.

It is interpreted that the large majority of the drill hole spacing at each pegmatite is sufficient to support a mineral resource estimate.

Core sample lengths typically range from 0.5 to 2.0 m and average ~1.0 to 1.5 m. Sampling is continuous within all pegmatite encountered in the drill hole.

 

Orientation of data

in relation to

geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key mineralized structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

 

No sampling bias is anticipated based on structure within the mineralized body.

The principal mineralized bodies are relatively undeformed and very competent, although have some meaningful structural control.

At CV5, the principal mineralized body and adjacent lenses are steeply dipping resulting in oblique angles of intersection with true widths varying based on drill hole angle and orientation of pegmatite at that particular intersection point. i.e., the dip of the mineralized pegmatite body has variations in a vertical sense and along strike, so the true widths are not always apparent until several holes have been drilled (at the appropriate spacing) in any particular drill-fence.

At CV13, the principal pegmatite body has a shallow varied strike and northerly dip.

At CV9, the orientation and geometry of the pegmatite is not well understood. The pegmatite is currently interpreted to be comprised of a single principal dyke, which outcrops at surface, has a steep northerly dip, and is moderately plunging to the east-southeast.

 

Sample security

The measures taken to ensure sample security.

 

Samples were collected by Company staff or its consultants following specific protocols governing sample collection and handling. Core samples were bagged, placed in large supersacs for added security, palleted, and shipped directly to Val-d’Or, QC, or Radisson, QC, being tracked during shipment along with Chain of Custody. Upon arrival at the laboratory, the samples were cross-referenced with the shipping manifest to confirm all samples were accounted for. At the laboratory, sample bags are evaluated for tampering.

 

Audits or reviews

The results of any audits or reviews of sampling techniques and data.

 

A review of the sample procedures for the Company’s 2021 fall drill program (CF21-001 to 004) and 2022 winter drill program (CV22-015 to 034) was completed by an Independent Competent Person and deemed adequate and acceptable to industry best practices (discussed in a technical report titled “NI 43-101 Technical Report on the Corvette Property, Quebec, Canada”, by Alex Knox, M.Sc., P.Geol., Issue Date of June 27th, 2022.)

A review of the sample procedures through the Company’s 2023 winter drill program (through CV23-190) was completed by an independent Competent Person with respect to the CV5 Pegmatite’s maiden mineral resource estimate and deemed adequate and acceptable to industry best practices (discussed in a technical report titled ” NI 43‑101 Technical Report, Mineral Resource Estimate for the CV5 Pegmatite, Corvette Property” by Todd McCracken, P.Geo., of BBA Engineering Ltd., and Ryan Cunningham, M.Eng., P.Eng., of Primero Group Americas Inc., Effective Date of June 25, 2023, and Issue Date of September 8, 2023.

Additionally, the Company continually reviews and evaluates its procedures in order to optimize and ensure compliance at all levels of sample data collecti…

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