World's Largest Pollucite-Hosted Caesium Pegmatite Mineral Resource Defined at Shaakichiuwaanaan
Rigel and
MONTREAL ,
HIGHLIGHTS
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World's largest pollucite-hosted caesium pegmatite deposit confirmed at the
Shaakichiuwaanaan Project , with a maiden Mineral Resource Estimate ("Caesium Zone MRE") of:Rigel Caesium Zone - Indicated: 163,000 t at 10.25% Cs2O, 1.78% Li2O, and 646 ppm Ta2O5.
Vega Caesium Zone - Indicated: 530,000 t at 2.61% Cs2O, 2.23% Li2O, and 172 ppm Ta2O5.
- Inferred: 1,698,000 t at 2.40% Cs2O, 1.81% Li2O, and 245 ppm Ta2O5.
- Total contained caesium content of 30.5 kt Cs2O Indicated and 40.8 kt Cs2O Inferred, highlighting the scale and global significance of the discovery.
- Caesium resources in the Rigel and
Vega zones are now included within the CV13 Pegmatite open-pit resource that forms part of the Company's consolidated MRE for the Project (including both the CV5 and CV13 pegmatites) ("Consolidated MRE") – that has been updated and restated as follows:- Indicated: 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga.
- Inferred: 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga.
- Caesium is a high-value, rare, and critical mineral which is currently supply constrained with only limited sources supplying the global market1. A discovery of this size, grade, and scale has the potential to be a primary source of supply for the global market, including new and potentially growing applications in emerging next generation terrestrial solar panel applications where caesium has been found to play a vital role in significantly improving panel efficiency, stability, and life span.
- The Company has commenced evaluating options (including a scoping metallurgical program to test pollucite recovery using conventional X-ray ore sorting methods) to advance and incorporate the caesium opportunity at CV13 as a potential additional saleable product into the overall economic development of the Project – to follow completion of the lithium-only Feasibility Study on the CV5 Pegmatite.
- The Company remains on track to deliver a maiden Ore Reserve and Feasibility Study for lithium at the CV5 Spodumene Pegmatite in CYQ3-2025.
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1 Mineral deposits of pollucite-hosted caesium are extremely rare globally and represent the most fractionated component of LCT pegmatite systems, which are effectively the only primary and economic source of caesium globally. The Company is aware of only three previous pollucite-hosted caesium mines with Bikita in |
"The pegmatites of the
It's also a reflection of the extraordinary geology of this deposit, which hosts lithium, tantalum, and now caesium – all high-value critical minerals – at world-class scale. Given the scale, grade, and proximity to the CV5 Pegmatite, the new caesium discovery at Rigel and
"What is particularly exciting for investors is that the addressable market for caesium appears to be at a key inflexion point, with its ability to improve the efficiency and stability of next generation terrestrial solar technologies having the potential to drive a massive increase in global demand. Shaakichiuwaanaan stands to play a driving role in the growth of this exciting new market. As we finalize the maiden lithium-only Feasibility Study for the CV5 Pegmatite, we are excited to start work on unlocking the enormous potential of the caesium resource, now outlined to NI 43-101 and JORC standards, for our shareholders," added
The Company has now confirmed that the
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Rigel Caesium Zone - Indicated: 163,000 t at 10.25% Cs2O, 1.78% Li2O, and 646 ppm Ta2O5.
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Vega Caesium Zone - Indicated: 530,000 t at 2.61% Cs2O, 2.23% Li2O, and 172 ppm Ta2O5.
- Inferred: 1,698,000 t at 2.40% Cs2O, 1.81% Li2O, and 245 ppm Ta2O5.
The Caesium Zone MRE for Rigel and
The footprint of caesium mineralization at Rigel has been traced over a general area of at least 200 m x 100 m and consists of a single, shallow dipping lens at a depth of ~50 m with a true thickness of <2 m to ~6 m. At the
The Consolidated MRE2, which includes the Rigel and
The restatement of the Consolidated MRE also includes a minor adjustment to the tonnage and tantalum grade at the CV13 Pegmatite. The Consolidated MRE is as follows (Table 1).
- Indicated: 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga.
- Inferred: 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga.
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2 The Consolidated MRE cut-off grade is variable depending on the mining method and pegmatite (0.40% Li2O open-pit, 0.60% Li2O underground CV5, and 0.70% Li2O underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and |
ABOUT CAESIUM
Mineral deposits of pollucite-hosted caesium are extremely rare globally and represent the most fractionated component of LCT pegmatite systems, which are effectively the only primary economic source of caesium globally. Economic deposits of caesium pegmatite are typically on a smaller scale of <10 kt to 350 kt in size compared to deposits of lithium pegmatite that typically range in the millions of tonnes in size (<10 Mt and rarely over
Globally, it is estimated only three (3) primary caesium mines have historically operated and all were pollucite hosted – Tanco (
The market for caesium compounds and metals is largely opaque because it is not publicly traded like copper or gold, but rather through bi-lateral and term contracts. Further, prices vary depending on its contained caesium form, purity and end-product use. Caesium carbonate (Cs2CO3≥99%) currently trades at approximately
Caesium is currently supply constrained, with only limited sources supplying the global market. A discovery of this size, grade, and scale has the potential to be a primary source of supply for global markets. This includes existing applications for caesium in oil/gas drilling, medical imaging and now new and potentially growing applications in the terrestrial solar panel industry which has the potential to drive a significant increase in global demand. Caesium has been found to play a vital role in significantly improving next generation solar panel efficiency, stability, and life span through the application of perovskite crystal structures.
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3 Management cautions that past results or discoveries on other mineral properties or mines owned by third parties (i.e., Tanco, Bikita, |
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4 Assumes conversion from troy ounce. |
NEXT STEPS
With the maiden MRE for the Rigel and
This includes completing various environmental baseline studies and additional drilling to further convert Inferred Resources to the Indicated category and in support of future development (e.g. geomechanical drill holes). Additionally, the Company has commenced industry engagement with end users of caesium as well as initiated a scoping metallurgical program targeting pollucite mineral recovery using conventional X-ray ore sorting methods, which will inform a more expansive test program that will also include subsequent recovery of spodumene (lithium) and tantalite (tantalum). The scoping metallurgical program is using mineralized drill core collected from the
In addition, the Company is also focused on completion of the remaining deliverables for its lithium-focused Feasibility Study on the CV5 Pegmatite. The Feasibility Study is well advanced and remains on schedule for completion in CYQ3-2025, with the Company recently announcing an update on its progress on
![Figure 3: Pollucite mineralization in high-grade caesium drill intersection at ~64.5 m depth in drill hole CV23-271 at the Rigel Zone, CV13 Pegmatite. Interval grades(5) 22.69% Cs2O over 1.0 m (64.0 m to 65.0 m) with XRD-Rietveld reporting a pollucite content over the interval of 58%. [ (5) Refer to news release dated April 9, 2025. ] (CNW Group/Patriot Battery Metals Inc.)](https://mma.prnewswire.com/media/2734371/Patriot_Battery_Metals_Inc__World_s_Largest_Pollucite_Hosted_Cae.jpg "Figure 3: Pollucite mineralization in high-grade caesium drill intersection at ~64.5 m depth in drill hole CV23-271 at the Rigel Zone, CV13 Pegmatite. Interval grades(5) 22.69% Cs2O over 1.0 m (64.0 m to 65.0 m) with XRD-Rietveld reporting a pollucite content over the interval of 58%. [ (5) Refer to news release dated April 9, 2025. ] (CNW Group/Patriot Battery Metals Inc.)")
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5 Refer to news release dated |
MINERAL RESOURCE STATEMENT (NI 43-101)
Table 1: Consolidated Mineral Resource Statement for the
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Conceptual |
Pegmatite |
Classification |
Tonnes |
Li2O |
Cs2O |
Ta2O5 |
Ga |
Contained |
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Open-Pit |
CV5 |
Indicated |
97,757,000 |
1.39 |
0.09 |
163 |
66 |
3.35 |
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Underground |
4,071,000 |
1.08 |
0.06 |
186 |
66 |
0.11 |
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Total |
101,828,000 |
1.38 |
0.09 |
164 |
66 |
3.46 |
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Open-Pit |
CV5 |
Inferred |
5,745,000 |
1.16 |
0.09 |
163 |
61 |
0.17 |
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Underground |
8,153,000 |
1.24 |
0.07 |
136 |
60 |
0.25 |
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Total |
13,898,000 |
1.21 |
0.08 |
147 |
60 |
0.41 |
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Open-Pit |
CV13 |
Indicated |
5,996,000 |
1.89 |
0.60 |
201 |
76 |
0.28 |
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Underground |
167,000 |
0.85 |
0.06 |
132 |
60 |
0.00 |
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Total |
6,163,000 |
1.86 |
0.59 |
199 |
76 |
0.28 |
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Open-Pit |
CV13 |
Inferred |
18,020,000 |
1.44 |
0.32 |
168 |
70 |
0.64 |
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Underground |
1,462,000 |
1.05 |
0.08 |
75 |
55 |
0.04 |
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Total |
19,482,000 |
1.41 |
0.30 |
161 |
69 |
0.68 |
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|
|
|
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|
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CV5 + |
Indicated |
107,991,000 |
1.40 |
0.11 |
166 |
66 |
3.75 |
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Inferred |
33,380,000 |
1.33 |
0.21 |
155 |
65 |
1.09 |
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Table 2: Mineral Resources at the Rigel and Vega Caesium Zones within the CV13 Pegmatite.
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Caesium |
Classification |
Tonnes |
Cs2O |
Li2O |
Ta2O5 |
Contained |
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Rigel |
Indicated |
163,000 |
10.25 |
1.78 |
646 |
16,708 |
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Inferred |
- |
- |
- |
- |
- |
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|
|
|
|
|
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Indicated |
530,000 |
2.61 |
2.23 |
172 |
13,833 |
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Inferred |
1,698,000 |
2.40 |
1.81 |
245 |
40,752 |
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|
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Rigel + |
Indicated |
693,000 |
4.40 |
2.12 |
283 |
30,541 |
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Inferred |
1,698,000 |
2.40 |
1.81 |
245 |
40,752 |
- Mineral Resources were prepared in accordance with National Instrument 43-101 – Standards for Disclosure of Mineral Projects ("NI 43-101") and the CIM Definition Standards (2014). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. This estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, economic, or other relevant issues.
- The independent Competent Person (CP), as defined under JORC, and Qualified Person (QP), as defined by NI 43–101 for this resource estimate is
Todd McCracken ,P.Geo ., Director – Mining & Geology –Central Canada ,BBA Engineering Ltd. The Effective Date of the estimate isJune 20, 2025 (through drill hole CV24-787). - Estimation was completed using a combination of inverse distance squared (ID2) and ordinary kriging (OK) for CV5 and inverse distance squared (ID2) for CV13 in Leapfrog Edge software with dynamic anisotropy search ellipse on specific domains.
- Drill hole composites at 1 m in length. Block size is 10 m x 5 m x 5 m with sub-blocking.
- Both underground and open-pit conceptual mining shapes were applied as constraints to the Consolidated MRE Statement to demonstrate reasonable prospects for eventual economic extraction. Cut-off grades for open-pit constrained resources are 0.40% Li2O for both CV5 and CV13, and for underground constrained resources are 0.60% Li2O for CV5 and 0.70% Li2O for CV13. Open-pit and underground Mineral Resource constraints are based on a long-term average spodumene concentrate price of
US$1,500 /tonne (6% basis FOB Bécancour) and an exchange rate of0.70 USD /CAD. - Mineral Resources for the Rigel and
Vega zones are hosted within the CV13 Pegmatite's open-pit conceptual mining shape and, therefore, are included within the Consolidated Mineral Resource Statement for CV5 and CV13 pegmatites. The Rigel andVega zones were interpreted using a 0.50% Cs2O grade constraint based on mineral processing analogues and mineralogical analysis supporting pollucite as the predominant Cs-bearing mineral present. - Rounding may result in apparent summation differences between tonnes, grade, and contained metal content.
- Tonnage and grade measurements are in metric units.
- Conversion factors used: Li2O = Li x 2.153; LCE (i.e., Li2CO3) = Li2O x 2.473, Ta2O5 = Ta x 1.221, Cs2O = Cs x 1.0602
- Densities for pegmatite blocks (both CV5 & CV13) were estimated using a linear regression function (SG = 0.0674x (Li2O% + 0.81 x B2O3%) + 2.6202) derived from the specific gravity ("SG") field measurements and Li2O grade. Non-pegmatite blocks were assigned a fixed SG based on the field measurement median value of their respective lithology.
SENSITIVITY ANALYSIS
The following Table 3 and Figure 4 outline the corresponding tonnage and caesium grade at various cut-off grades for the Caesium Zone MREs, hosted within the CV13 Pegmatite and the Consolidated MRE. In addition to evaluating sensitivities to cut-off grades, this table can help relate the tonnage and grades at Shaakichiuwaanaan more directly to those calculated for peer deposits, which may have applied different cut-off grades to their resources.
Table 3: Sensitivity Analysis for Caesium at the Rigel and Vega Zones.
![Table 3: Sensitivity Analysis for Caesium at the Rigel and Vega Zones. [ 1. This table should not be interpreted as a Mineral Resource. The data is presented to demonstrate the tonnage and grade sensitivity to various cut-off grades. The selected grade constraint for modelling the Rigel and Vega caesium zones was 0.50% Cs2O. / 2. Errors may occur in totals due to rounding. ] (CNW Group/Patriot Battery Metals Inc.)](https://mma.prnewswire.com/media/2734464/Patriot_Battery_Metals_Inc__World_s_Largest_Pollucite_Hosted_Cae.jpg "Table 3: Sensitivity Analysis for Caesium at the Rigel and Vega Zones. [ 1. This table should not be interpreted as a Mineral Resource. The data is presented to demonstrate the tonnage and grade sensitivity to various cut-off grades. The selected grade constraint for modelling the Rigel and Vega caesium zones was 0.50% Cs2O. / 2. Errors may occur in totals due to rounding. ] (CNW Group/Patriot Battery Metals Inc.)")
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This table should not be interpreted as a Mineral Resource. The data is presented to demonstrate the tonnage and grade sensitivity to various cut-off grades. The selected grade constraint for modelling the Rigel and |
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Errors may occur in totals due to rounding. |
GEOLOGICAL AND
The Rigel and
Using the 0.5% Cs2O grade constraint, the footprint of caesium mineralization at Rigel has been traced over a general area of at least 200 m x 100 m and consists of a single, shallow dipping lens at a depth of ~50 m with a true thickness of <2 m to ~6 m. At the
The geological and block models, classification, and sections for the Rigel and
Rigel and Vega Caesium Zones
CV13 Pegmatite
CV5 Pegmatite
ASX LISTING RULE 5.8
As the Company is listed on both the
As the change in lithium, tantalum, and gallium Mineral Resources for the Consolidated MRE, which includes both the CV5 and CV13 pegmatites, is considered not a material change (as presented herein Table 1), the detailed summary, figures/diagrams, and technical parameters applied as presented in the original announcement dated
MINERAL TITLE
The Shaakichiuwaanaan Property is located approximately 220 km east of
The Property is comprised of 463 Exclusive Exploration Rights ("EER") (formerly known as CDC mineral claims) that cover an area of approximately 23,710 ha. All claims are registered 100% in the name of
GEOLOGY AND GEOLOGICAL INTERPRETATION
The Property overlies a large portion of the Lac Guyer Greenstone Belt, considered part of the larger La
At the Property, caesium mineralization is observed to occur within lithium-caesium-tantalum ("LCT") pegmatites, which may be exposed at surface as both low and high relief landforms (i.e., outcrops) or present under shallow glacial till cover (Figure 16). To date, the LCT pegmatites at the Property have been observed to occur within a corridor of generally ~1 km in width that extends in a general east-west direction across the Property for at least 25 km – the 'CV Lithium Trend' – with significant areas of prospective trend that remain to be assessed (Figure 20). To date, nine (9) distinct lithium pegmatite clusters have been reported along the CV Lithium Trend at the Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, CV14, and CV15 (Figure 19). Of these clusters, CV5, CV12, and CV13 have documented pollucite hosted caesium mineralization from drill hole and/or channel sampling. Pollucite is an extremely rare mineral occurrence in LCT pegmatites and represents the most fractionated components of the system.
The Consolidated MRE for the Project, which includes the CV5 and CV13 pegmatites, represents the core area of the trend. The CV5 and CV13 pegmatites are situated along the same geological trend, with approximate strike lengths of 4.6 km and 2.5 km, respectively – as defined by drilling to date and which remain open – and are separated by a distance of ~2.6 km (Figure 19). Consolidated MRE covers ~6.9 km of the ~7.1 km of defined pegmatite trend and remains open.
The Consolidated MRE is described in detail, with respect to Li, Ta, and Ga, in news announcement dated
The LCT pegmatites at the Property, including CV5 and CV13, are very coarse-grained and off-white in appearance, with darker sections commonly composed of smoky quartz with occasional mica and tourmaline
The Rigel and
Using the 0.5% Cs2O grade constraint, the footprint of caesium mineralization at the
The pollucite zones at Rigel and
![Figure 17: Pollucite with lepidolite veining (purple) in grey quartz matrix from 139.3 m to 139.5 m in drill hole CV24-520 (Vega Zone), within a wider zone of caesium mineralization grading 7.39% Cs2O over 7.1 m. [ (6) See news release dated April 9, 2025. ] (CNW Group/Patriot Battery Metals Inc.)](https://mma.prnewswire.com/media/2734386/Patriot_Battery_Metals_Inc__World_s_Largest_Pollucite_Hosted_Cae.jpg "Figure 17: Pollucite with lepidolite veining (purple) in grey quartz matrix from 139.3 m to 139.5 m in drill hole CV24-520 (Vega Zone), within a wider zone of caesium mineralization grading 7.39% Cs2O over 7.1 m. [ (6) See news release dated April 9, 2025. ] (CNW Group/Patriot Battery Metals Inc.)")
![Figure 18: High-grade pollucite mineralization in drill hole CV23-271 (Rigel Zone) grading 22.69% Cs2O over 1.0 m (64.0 m to 65.0 m). [ (7) See news release dated April 9, 2025. ] (CNW Group/Patriot Battery Metals Inc.)](https://mma.prnewswire.com/media/2734388/Patriot_Battery_Metals_Inc__World_s_Largest_Pollucite_Hosted_Cae.jpg "Figure 18: High-grade pollucite mineralization in drill hole CV23-271 (Rigel Zone) grading 22.69% Cs2O over 1.0 m (64.0 m to 65.0 m). [ (7) See news release dated April 9, 2025. ] (CNW Group/Patriot Battery Metals Inc.)")
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6 See news release dated |
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7 See news release dated |
DRILLING TECHNIQUES AND CLASSIFICATION CRITERIA
The Shaakichiuwaanaan database includes 801 diamond drill holes completed over the 2021, 2022, 2023, and 2024 programs, for a collective total of 234,671 m, as well as outcrop channels totalling 800 m. Of these, the 32 holes totalling 7,808 m, completed over the 2022, 2023, and 2024 programs, as well as 7 m of channels, were used to support the
The Rigel MRE and geological models are supported by 6 diamond drill holes of NQ size totalling 1,228 m. The Vega MRE and geological models are supported by 26 diamond drill holes of NQ size totalling 6,580 m, and 7 m of channels.
Each drill hole collar was surveyed with an RTK tool (Topcon GR5 or Trimble Zephyr 3) (Table 4). Downhole deviation surveys for each drill hole were completed with a Devico DeviGyro tool (2021 and 2024 holes), Reflex Gyro Sprint IQ tool (2022, 2023, and 2024 holes), Axis Champ Gyro (2023 and 2024 holes), or Reflex OMNI Gyro Sprint IQ (2024 holes). Survey shots were typically continuous at approximate 3-5 m intervals. The use of the gyro tool system negated potential deflection issues arising from minor but common pyrrhotite within the host rock units. All collar and downhole deviation data have been validated by the project geologists on site, and by the database lead.
Drill core has not been oriented; however, downhole optical and acoustic televiewer surveys have been completed on multiple holes, at both CV5 and CV13, to assess overall structure. This data guided the current geological models supporting this Rigel and Vega MREs.
At CV13, drill hole spacing is a combination of grid based (at ~100 m spacing) and fan based (Figure 21). Several collars are typically completed from the same pad at varied orientations targeting pegmatite pierce points of ~50 to 100 m spacing depending on the resource classification being targeted. Due to the varied orientation of the pegmatite bodies along strike at CV13, hole orientations vary widely with multiple holes often being completed from the same pad. At Rigel, drill hole pegmatite pierce points range from ~40 m to 80 m and at
Drill hole spacing and orientation at the Rigel and
All drill holes were completed by
Channel sampling followed industry best practices with a 3 to 5 cm wide, saw-cut channel completed across the pegmatite outcrop as practical, perpendicular to the interpreted pegmatite strike. Samples were collected at ~0.5 to 1 m contiguous intervals with the channel bearing noted, and GPS coordinate collected at the start and end points of the channel. Channel samples were transported along the same route as drill core for processing at
SAMPLING AND SUB-SAMPLING TECHNIQUES
Core sampling protocols meet industry standard practices. Upon receipt at the core shack at
Core sampling was guided by rock type as determined during geological logging (i.e., by a geologist). All pegmatite intervals were sampled in their entirety, regardless of whether mineralization was 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 0.3-0.5 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 was saw-cut, using an
Channels were geologically logged upon collection on an individual sample basis; however, were not geotechnically logged. Channel recovery was effectively 100%.
The logging of drill core and channels was qualitative by nature, and included estimates of spodumene grain size, inclusions, and model mineral estimates. These logging practices meet or exceed current industry standard practices and are of appropriate detail to support a Mineral Resource estimation and disclosure herein.
All core samples were bagged and sealed individually, and then placed in large supersacs for added security, palleted, and shipped by third party transport, or directly by representatives of the Company, to the designated sample preparation laboratory of
SAMPLE ANALYSIS METHOD AND QUALITY CONTROL
Core samples collected from 2022 and 2023 drill holes were shipped to
Core samples collected from 2024 drill holes were shipped to
All 2022, 2023, and 2024 (through drill hole CV24-787) core sample pulps were shipped by air to
A Quality Assurance / Quality Control (QAQC) protocol following industry best practices was incorporated into the drill programs and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates (through hole CV23-190 only), at a rate of approximately 5% each. Additionally, analysis of pulp-split and coarse-split (through hole CV23-365 only) sample duplicates were completed to assess analytical precision at different stages of the laboratory preparation process, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation at a secondary lab (ALS Canada in 2022, 2023, and 2024).
Channel samples collected were shipped to
Overlimits for caesium, completed in
A QAQC protocol following industry best practices was incorporated into the channel programs and included systematic insertion of quartz blanks and certified reference materials into sample batches.
CRITERIA USED FOR CLASSIFICATION
The Consolidated MRE classification has been completed in accordance with the NI 43-101, JORC 2012, and CIM Definition Standards for Mineral Resources and Reserves reporting guidelines. All reported Mineral Resources have been constrained by conceptual open-pit or underground mineable shapes to demonstrate reasonable prospects for eventual economic extraction ("RPEEE").
Blocks were classified as Indicated when drill spacing was 70 m or lower, blocks were estimated with at least 2 drill holes, and meeting the minimum estimation criteria parameters. Geological continuity and a minimum thickness of 2 m were mandatory, as well grade continuity demonstrated at the reported cut-off grade.
Blocks were classified Inferred when drill spacing was between 70 m and 140 m and meeting the minimum estimation criteria parameters. Geological continuity and a minimum thickness of 2 m were also mandatory.
There are no measured classified blocks. Pegmatite dykes or extension with lower level of information / confidence were also not classified.
Classification shapes are created around contiguous blocks at the stated criteria with consideration for the selected mining method. The MRE appropriately reflects the view of the Competent Person.
ESTIMATION METHODOLOGY
Compositing was done every 1.0 m for the pegmatite and every 0.5 m for the caesium enriched zones. Unsampled intervals were assigned a grade of 0.0005% Li, 0.25 ppm Ta, and 0.05 ppm Cs. Capping was done after compositing. Based on the statistical analysis capping varies by lithological domain.
For the CV13 Pegmatite dykes, it was determined that no capping was required for Li2O, but Ta2O5 was capped at 3,000 ppm for 3 domains (CV13_100, CV13_101, and CV13_100C) and at 1,200 ppm for the remaining 20 domains. No capping was applied for Cs2O. Variography analysis did not yield a well-structured variogram. On CV13, Li2O, Ta2O5, and Cs2O were estimated using ID2 in Leapfrog Edge.
The twenty-three (23) different pegmatite domains were separated into 3 groups with the same orientation.
Parent cells of 10 m x 5 m x 5 m, subblocked four (4) times in each direction (for minimum subcells of 2.5 m in x, 1.25 m in y, and 1.25 m in z were used. Subblocks are triggered by the geological model. Li2O, Ta2O5, and Cs2O grades are estimated on the parent cells and automatically populated to subblocks.
The CV5 and CV13 block model is rotated around the Z axis (Leapfrog 340°). Hard boundaries between all the pegmatite domains were used for all Li2O, Ta2O5, and Cs2O estimates. For CV5, the MRE includes blocks within the pit shell above the cut-off grade of 0.40% Li2O or all blocks within underground mining shapes constructed with a 0.60% cut-off grade. For CV13, the MRE includes blocks within the pit shell above the cut-off grade of 0.40% Li2O and blocks under the cut-off grade of 0.40% Li2O, but above 0.5% Cs2O that are enclosed within the enriched caesium zones or all blocks within underground mining shapes constructed with a 0.70% Li2O cut-off grade.
Validation of the block model was performed using Swath Plots, nearest neighbours grade estimates, global means comparisons, and by visual inspection in 3D and along plan views and cross-sections.
CUT-OFF GRADE AND BASIS FOR SELECTION
The cut-off grade ("COG") adopted for the CV13 Pegmatite is based on lithium at 0.40% Li2O for open-pit resources and 0.70% Li2O for underground resources. It has been determined based on operational cost estimates, primarily through benchmarking, for mining (open-pit and underground methods), tailings management, G&A, and concentrate transport costs from the mine site to
Mineral Resources for the Rigel and
MINING & METALLURGICAL METHODS AND PARAMETERS, AND OTHER MODIFYING FACTORS CONSIDERED
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. This estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, economic, or other relevant issues.
The extraction scenario constraint retained for the MRE at the CV13 Spodumene Pegmatite is mainly open-pit. A pit slope of 45° was assumed, resulting in a strip ratio of 10 (waste to minable resource) at a revenue factor of 1.
The metallurgical assumptions for recovery of caesium at the Rigel and
Various mandates required for advancing the Rigel and Vega Caesium Zone MREs towards economic studies have been initiated, including but not limited to, environmental baseline, metallurgy, geomechanics, stakeholder engagement, and geochemical characterization.
QUALIFIED/COMPETENT PERSON
The information in this news release that relates to the Consolidated MRE for the
The information in this news release that relates to the mineral processing for the Consolidated MRE (including the Caesium Zone MRE) is based on, and fairly represents, information compiled by
Table 4: Attributes for drill holes and channels included in the Rigel and
|
Hole ID |
Hole |
Substrate |
Total Depth |
Azimuth |
Dip |
Easting |
Northing |
Elevation |
Core Size |
Caesium |
|
|
|
CV23-198 |
DD |
Land |
98.0 |
140 |
-80 |
565126.2 |
5928036.0 |
432.4 |
NQ |
Rigel |
|
|
|
CV23-191 |
DD |
Land |
308.2 |
170 |
-45 |
565125.9 |
5928034.9 |
432.4 |
NQ |
Rigel |
|
|
|
CV23-204 |
DD |
Land |
262.9 |
130 |
-80 |
565057.6 |
5927954.3 |
419.2 |
NQ |
Rigel |
|
|
|
CV23-207 |
DD |
Land |
278.0 |
140 |
-45 |
565058.1 |
5927953.0 |
419.0 |
NQ |
Rigel |
|
|
|
CV23-255 |
DD |
Land |
131.2 |
80 |
-45 |
564936.2 |
5927944.4 |
417.7 |
NQ |
Rigel |
|
|
|
CV23-271 |
DD |
Land |
149.2 |
110 |
-75 |
565068.5 |
5927999.1 |
429.0 |
NQ |
Rigel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CH23-069 |
TR |
Land |
6.8 |
26 |
-36 |
565393.2 |
5928283.7 |
418.1 |
n/a |
|
|
|
|
CV22-101 |
DD |
Land |
245.1 |
140 |
-65 |
565795.1 |
5928473.5 |
382.7 |
NQ |
|
|
|
|
CV23-311 |
DD |
Land |
421.9 |
140 |
-45 |
565394.5 |
5928309.7 |
414.3 |
NQ |
|
|
|
|
CV23-322 |
DD |
Land |
404.1 |
140 |
-90 |
565393.9 |
5928310.4 |
414.9 |
NQ |
|
|
|
|
CV23-348 |
DD |
Land |
386.0 |
140 |
-90 |
565420.9 |
5928393.8 |
405.3 |
NQ |
|
|
|
|
CV23-365 |
DD |
Land |
322.9 |
140 |
-90 |
565551.9 |
5928455.4 |
394.9 |
NQ |
|
|
|
|
CV24-470 |
DD |
Land |
281.3 |
320 |
-80 |
565430.9 |
5928494.3 |
393.9 |
NQ |
|
|
|
|
CV24-487 |
DD |
Land |
308.1 |
140 |
-45 |
565807.6 |
5928565.2 |
378.9 |
NQ |
|
|
|
|
CV24-492 |
DD |
Land |
290.4 |
140 |
-45 |
565697.4 |
5928512.1 |
385.7 |
NQ |
|
|
|
|
CV24-498 |
DD |
Land |
218.0 |
140 |
-45 |
565467.1 |
5928559.6 |
387.9 |
NQ |
|
|
|
|
CV24-507 |
DD |
Land |
187.0 |
0 |
-90 |
565466.6 |
5928560.1 |
387.7 |
NQ |
|
|
|
|
CV24-508 |
DD |
Land |
152.0 |
140 |
-45 |
565710.4 |
5928599.6 |
382.2 |
NQ |
|
|
|
|
CV24-510 |
DD |
Land |
239.0 |
270 |
-55 |
565458.5 |
5928561.1 |
387.8 |
NQ |
|
|
|
|
CV24-513 |
DD |
Land |
171.2 |
320 |
-75 |
565707.2 |
5928604.4 |
381.9 |
NQ |
|
|
|
|
CV24-519 |
DD |
Land |
248.0 |
140 |
-45 |
565599.7 |
5928537.4 |
385.4 |
NQ |
|
|
|
|
CV24-520 |
DD |
Land |
243.7 |
320 |
-60 |
565459.7 |
5928564.3 |
387.4 |
NQ |
|
|
|
|
CV24-524 |
DD |
Land |
209.0 |
20 |
-60 |
565464.9 |
5928560.5 |
387.7 |
NQ |
|
|
|
|
CV24-525 |
DD |
Land |
161.0 |
320 |
-75 |
565596.8 |
5928540.8 |
385.1 |
NQ |
|
|
|
|
CV24-571 |
DD |
Land |
236.1 |
90 |
-65 |
565032.3 |
5928630.7 |
398.2 |
NQ |
|
|
|
|
CV24-579 |
DD |
Land |
215.0 |
0 |
-90 |
565031.7 |
5928630.6 |
398.2 |
NQ |
|
|
|
|
CV24-582 |
DD |
Land |
227.2 |
10 |
-65 |
565031.2 |
5928632.1 |
398.3 |
NQ |
|
|
|
|
CV24-747 |
DD |
Land |
281.0 |
20 |
-60 |
565266.8 |
5928409.4 |
412.5 |
NQ |
|
|
|
|
CV24-754 |
DD |
Land |
235.9 |
280 |
-65 |
565288.0 |
5928612.6 |
390.0 |
NQ |
|
|
|
|
CV24-757 |
DD |
Land |
305.3 |
70 |
-45 |
565269.4 |
5928408.3 |
412.8 |
NQ |
|
|
|
|
CV24-761 |
DD |
Land |
227.1 |
0 |
-90 |
565289.2 |
5928610.8 |
390.0 |
NQ |
|
|
|
|
CV24-771 |
DD |
Land |
164.3 |
0 |
-90 |
565267.5 |
5928407.2 |
413.1 |
NQ |
|
|
|
|
CV24-773 |
DD |
Land |
200.0 |
35 |
-55 |
565291.6 |
5928615.0 |
389.7 |
NQ |
|
|
|
|
(1) Coordinate system NAD83 / UTM zone 18N; (2) DD = diamond drill, TR = channel; (3) DD azimuths and dips presented are those 'planned' and may vary off collar/downhole. |
APPENDIX 1 – JORC CODE 2012 TABLE 1 (ASX LISTING RULE 5.8.2)
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 2022 and 2023 drill holes CV22-015 through CV23-107 were shipped to
• Core samples collected from 2024 drill holes were shipped to
• All drill core sample pulps from 2022, 2023, and 2024 were shipped by air to • Channel sampling followed best industry practices with a 3 to 5 cm wide, saw-cut channel completed across the pegmatite outcrop as practical, perpendicular to the interpreted pegmatite strike. Samples were collected at ~0.5 to 1 m contiguous intervals with the channel bearing noted, and GPS coordinate collected at the start and end points of the channel.
• All channel samples collected were shipped to
• Overlimits for caesium, completed in |
|
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 size core diamond drilling was completed for all holes informing the Rigel and Vega Caesium Zone MREs. Core was not oriented. However, downhole OTV-ATV surveys were completed to various depths on multiple holes within the wider CV13 Pegmatite to assess overall structure. • The sampling of continuous channels of outcrop, coupled with locational data at the same accuracy as drill hole locational data, allowed the channels to be treated as horizontal drill holes for the purposes of modelling and resource estimation. |
|
Drill sample |
• 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 (since mid-winter 2023). Core recovery typically exceeds 90%. • Channel samples were not geotechnically logged. Channel recovery was effectively 100%. |
|
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. • Channel samples were geologically logged upon collection on an individual sample basis. Channel samples were not geotechnically logged. • 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 |
• 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. • Channels were saw-cut with the full channel being sent for analysis at ~0.5 to 1.0 m sample intervals. • Sample sizes are considered appropriate for the material being assayed. • A Quality Assurance / Quality Control (QAQC) protocol following industry best practices was incorporated into the drill programs and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates (through hole CV23-190 only), at a rate of approximately 5% each. Additionally, analysis of pulp-split and coarse-split (through hole CV23-365 only) sample duplicates were completed to assess analytical precision at different stages of the laboratory preparation process, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation at a secondary lab (ALS Canada in 2022, 2023, and 2024). 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 |
• 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 2022 and 2023 drill holes CV22-015 through CV23-107 were shipped to
• Core samples collected from 2024 drill holes were shipped to
• All drill core sample pulps from 2022, 2023, and 2024 were shipped by air to
• All channel samples collected were shipped to
• Overlimits for caesium, completed in • 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 |
• 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. • No twinned holes were completed. • 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, Ta2O5 = Ta x 1.221, and Cs2O = Cs x 1.0602 |
|
Location of data |
• 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 collar and channel end points have been surveyed with a RTK Topcon GR-5 or RTK Trimble Zephyr 3.
• The coordinate system used is
• The Company completed a property-wide LiDAR and orthophoto survey in • The quality and accuracy of the topographic controls are considered adequate for advanced stage exploration and development, including Mineral Resource estimation. |
|
Data spacing and |
• 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 CV13, drill hole spacing is a combination of grid based (at ~100 m 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. Pegmatite pierce points of ~50 (Indicated) to 100 m (Inferred) spacing are targeted.
• At Rigel, drill hole pegmatite pierce points range from ~40 m to 80 m and at • Based on the nature of the mineralization and continuity in geological modelling, the drill hole spacing is sufficient to support a MRE. • 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. • Core samples are not composited upon collection or for analysis. |
|
Orientation of data |
• 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 meaningful structural control.
• At CV13, the principal pegmatite body has a varied strike and shallow northerly dip. The Rigel and
• Using the 0.5% Cs2O grade constraint, the footprint of caesium mineralization at the |
|
Sample security |
• The measures taken to ensure sample security. |
• Samples were collected by Company staff or its consultants following project specific protocols governing sample collection and handling. Core samples were bagged, placed in large supersacs for added security, palleted, and shipped by third party transport, or directly by representatives of the Company, to the designated sample preparation laboratory ( |
|
Audits or reviews |
• The results of any audits or reviews of sampling techniques and data. |
• A review of the sample procedures through the Company's 2024 winter drill program (through CV24-526) was completed by an independent Competent Person with respect to the MRE (CV5 & CV13 pegmatites) and deemed adequate and acceptable to industry best practices (discussed in a technical report titled "NI 43–101 Technical Report, Preliminary Economic Assessment for the • Additionally, the Company continually reviews and evaluates its procedures in order to optimize and ensure compliance at all levels of sample data collection and handling. |
Section 2 – Reporting of Exploration Results
|
Criteria |
JORC Code explanation |
Commentary |
|
Mineral tenement |
• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
• The Shaakichiuwaanaan Property (formerly called "Corvette") is comprised of 463 Exclusive Exploration Rights ("EER") (formerly known as CDC claims) located in the
• The Company holds 100% interest in the Property subject to various royalty obligations depending on original acquisition agreements. DG Resources Management holds a 2% NSR (no buyback) on 76 claims, D.B.A. Canadian
• • The Property does not overlap any atypically sensitive environmental areas or parks, or historical sites to the knowledge of the Company. There are no known hinderances to operating at the Property, apart from the goose harvesting season (typically mid-April to mid-May) where the communities request helicopter flying not be completed, and potentially wildfires depending on the season, scale, and location.
• Claim expiry dates range from |
|
Exploration done |
• Acknowledgment and appraisal of exploration by other parties. |
• No core assay results from other parties are disclosed herein.
• The most recent independent Property review was a technical report titled "NI 43–101 Technical Report, Preliminary Economic Assessment for the |
|
Geology |
• Deposit type, geological setting and style of mineralization. |
• The Property overlies a large portion of the Lac Guyer Greenstone Belt, considered part of the larger La • The geological setting is prospective for gold, silver, base metals, platinum group elements, and lithium over several different deposit styles including orogenic gold (Au), volcanogenic massive sulfide (Cu, Au, Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and pegmatite (Li, Cs, Ta).
• Exploration of the Property has outlined three primary mineral exploration trends crossing dominantly east-west over large portions of the Property – Golden Trend (gold), Maven Trend (copper, gold, silver), and CV Trend (lithium, caesium, tantalum). The CV5 and CV13 spodumene pegmatites, including the Rigel and • Caesium mineralization at the Property is observed to occur within quartz-feldspar pegmatite, which may be exposed at surface as high relief 'whale-back' landforms. The pegmatite is often very coarse-grained and off-white in appearance, with darker sections commonly composed of mica and smoky quartz, and occasional tourmaline.
• The |
|
Drill hole |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. |
• Drill hole attribute information is included in a table herein. • Drilling results have been previously released by the Company in accordance with disclosure obligations and are not reproduced herein. |
|
Data aggregation |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. |
• Length weighted averages were used to calculate grade over width. • No metal equivalents have been reported. |
|
Relationship |
• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralization with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). |
• At CV13, current interpretation supports a series of sub-parallel trending sills with a flat-lying to shallow northerly dip (collectively, the 'CV13 Spodumene Pegmatite'). Within the CV13 Pegmatite body are the Rigel and • All reported widths are core length. |
|
Diagrams |
• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
• Please refer to the figures included herein as well as those posted on the Company's website. |
|
Balanced reporting |
• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
• Drilling results have been previously released by the Company in accordance with disclosure obligations and are not reproduced herein. |
|
Other substantive |
• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
• The Company is currently completing site environmental work over the CV5 and CV13 pegmatite area. No endangered flora or fauna have been documented over the Property to date, and several sites have been identified as potentially suitable for mine infrastructure.
• Mineral Resources for the Rigel and • Various mandates required for advancing the Rigel and Vega MREs towards economic studies have been initiated, including but not limited to, environmental baseline, metallurgy, geomechanics, stakeholder engagement, and geochemical characterization. |
|
Further work |
• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
• The Company intends to continue drilling the pegmatites of the Shaakichiuwaanaan Property, including the CV5 Pegmatite, CV13 Pegmatite (including Rigel and |
Section 3 – Estimate and Reporting of Mineral Resources
|
Criteria |
JORC Code explanation |
Commentary |
|
Database integrity |
• Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. • Data validation procedures used. |
• Data capture utilizes MX Deposit database software whereby core logging data is entered directly into the software for storage, including direct import of laboratory analytical certificates as they are received. Collar and downhole deviation surveys are also validated and stored in MX Deposit database software. The Company employs various on-site and post initial QAQC protocols to ensure data integrity and accuracy. • Drill hole collar points were validated against LiDAR topographic data. • The drill hole database was further validated by the independent Competent Person for the MRE, including missing sample intervals, overlapping intervals, and various missing data (survey, collar coordinates, assays, rock type, etc.) • All the analytical certificates applicable to the Consolidated MRE were validated against the assays present in the database for Li, Cs, Ta, and Ga. • No significant errors in the database were discovered. The database is considered validated and of high quality, and therefore sufficient to support the Caesium Zone MRE. |
|
Site visits |
• Comment on any site visits undertaken by the Competent Person and the outcome of those visits. • If no site visits have been undertaken indicate why this is the case. |
• • Core from various drill holes from CV5 and CV13 from the 2023 and 2024 drill program was viewed and core processing protocols reviewed with site geologists. Drilling was active during the 2023 site visit. • Several of the CV13 pegmatite outcrops were visited, and various collar locations were visited and GPS coordinates checked against the database. • Pulp samples were selected for check analysis from holes selected by the Competent Person. • No significant issues were found with the protocols practiced on site. The Competent Person considers the QAQC and procedures adopted by the Company to be of a high standard. |
|
Geological |
• Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. • Nature of the data used and of any assumptions made. • The effect, if any, of alternative interpretations on Mineral Resource estimation. • The use of geology in guiding and controlling Mineral Resource estimation. • The factors affecting continuity both of grade and geology. |
• The CV13, Rigel, and
• The CV13 Pegmatite was geological modelled as veins for all of its lenses. The Rigel and • A combination of implicit and explicit modelling methods was used, defined by geologically logged drill intersections, channel samples, and outcrop mapping, with external geological controls, including measured contact orientations, cross-sectional polylines, and surface polyline controls to ensure the model follows geological interpretation, validation, and reasonable extensions along trend and dip.
• The geological interpretation of CV13, Rigel, and • Drilling density is the primary factor in assessing the interpreted continuity of both grade and geology. The current drill density is sufficient to support the Caesium Zone MRE. The controlling factors on mineralization are not fully understood but meaningful structural control is interpreted. |
|
Dimensions |
• The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource. |
• The CV13 portion of the MRE includes multiple individual spodumene pegmatite dykes that have been modelled, with three appearing to be dominant. The pegmatite bodies are coincident with the apex of a regional structural flexure where the west arm trends ~290° and the east arm at ~230°. Drilling to date indicates the east arm includes significantly more pegmatite stacking compared to the west, and also carries a significant amount of the overall CV13 Pegmatite tonnage and lithium grade, highlighted by the high-grade
•
• |
|
Estimation and |
• The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. • The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. • The assumptions made regarding recovery of by-products. • Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). • In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. • Any assumptions behind modelling of selective mining units. • Any assumptions about correlation between variables. • Description of how the geological interpretation was used to control the resource estimates. • Discussion of basis for using or not using grade cutting or capping. • The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available. |
• Compositing was done every 1.0 m for the pegmatite domains and every 0.5 m for the caesium enriched zones. Unsampled intervals were assigned a grade of 0.0005% Li, 0.25 ppm Ta, and 0.05 ppm Cs. Capping was done after compositing. Based on the statistical analysis capping varies by lithological domain.
• For CV13 zones, it was determined that no capping was required for Li2O and Cs2O, but Ta2O5 was capped at 3,000 ppm for • Variography was done both in Leapfrog Edge and Supervisor. • At CV13, variography analysis did not yield a well-structured variogram. On CV13, Li2O, Ta2O5, and Cs2O were estimated using Inverse Distance Squared (ID2) in Leapfrog Edge.
• The twenty-three (23) different pegmatite domains were separated in 3 groups with the same orientation. • Parent cells of 10 m x 5 m x 5 m, subblocked four (4) times in each direction (for minimum subcells of 2.5 m in x, 1.25 m in y, and 1.25 m in z were used. Subblocks are triggered by the geological model. Li2O, Ta2O5, and Cs2O grades are estimated on the parent cells and automatically populated to subblocks. • The block model is rotated around the Z axis (Leapfrog 340°). • Hard boundaries between all the pegmatite domains were used for all Li2O, Ta2O5, and Cs2O estimates. • Validation of the block model was performed using Swath Plots, nearest neighbours grade estimates, global means comparisons, and by visual inspection in 3D and along plan views and cross-sections.
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Moisture |
• Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content. |
• Tonnages are reported on a dry basis. |
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Cut-off parameters |
• The basis of the adopted cut-off grade(s) or quality parameters applied. |
• The Caesium Zone Mineral Resources are hosted within the CV13 Pegmatite's open-pit conceptual mining shape, irrespective of lithium COG. A grade constraint of 0.50% Cs2O has been used to model the Rigel and
• For the CV13 Pegmatite, the open pit cut-off grade is 0.40% Li2O and determined based on operational cost estimates, primarily through benchmarking and an internal trade-off study, for mining (
• Underground adopted cut-off grade for CV13 is 0.70% Li2O and determined based on the same parameters than the open pit with the addition of the underground mining cost estimated at |
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Mining factors or |
• Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made. |
• Open-pit mining method is assumed with an overall pit slope ranging from 45° to 53° considering various sectors, single and double bench. • No dilution or mining recovery has been considered. • The underground mining method for CV13 has not been determined but the mining cost used is higher considering the shallow dip of the lenses in CV13. Stope dimensions considered are horizontal considering length of 15 m, 7.5 m in width and a minimum height of 3 m. • The Caesium Zone Mineral Resources are reported as in-situ tonnes and grade. |
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Metallurgical |
• The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made. |
• For the overall CV13 Pegmatite, the processing assumptions are based on HLS and magnetic testing, which has produced 6+% Li2O spodumene concentrates at >70% recovery on drill core samples from both the CV5 and CV13 pegmatites and indicate DMS as a viable primary process approach for both CV5 and CV13. This is supported by several subsequent DMS tests on CV5 drill core, which returned a spodumene concentrate grading above 5.5% Li2O at recoveries consistently above 75% recovery. • For the Mineral Resource conceptual mining shapes, based on a grade versus recovery curve of the test work completed to date, an average recovery of approximately 70% to produce a 5.5% Li2O spodumene concentrate was used.
• The metallurgical assumptions for recovery of caesium at the Rigel and |
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Environmental |
• Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made. |
• The CV13 Pegmatite, which includes the Rigel and • A conventional tailings management facility and no material adverse environmental impediments are assumed. • An environmental assessment is underway for the CV5 resource, which forms a component of the Consolidated MRE for the Project. A notice of project was submitted to the provincial regulator and environmental assessment guidelines were received. A Project description has been submitted to the federal regulator. |
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Bulk density |
• Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. • The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit. • Discuss assumptions for bulk density estimates used in the evaluation process of the different materials. |
• Density of the pegmatite was estimated using a linear regression function derived from SG field measurements (1 sample every ~4.5 m) and Li2O grade. The regression function (SG= 0.0674 x (Li2O% +0.81 x B2O3) + 2.6202) was used for all pegmatite blocks. Non-pegmatite blocks were assigned a fixed SG based on the field measurement median value (CV5: diabase = 2.89, amphibolite group = 2.99, metasediment 2.75, ultramafic = 2.94, overburden = 2.00 and CV13: amphibolite group = 3.01, metasediment 2.82, ultramafic = 3.02, overburden = 2.00). |
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Classification |
• The basis for the classification of the Mineral Resources into varying confidence categories. • Whether appropriate account has been taken of all relevant factors (ie relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). • Whether the result appropriately reflects the Competent Person's view of the deposit. |
• The Caesium Zone MRE classification is in accordance with the JORC 2012 reporting guidelines. All reported Mineral Resources have reasonable prospects for eventual economic extraction. All reported Mineral Resources have been constrained by conceptual open-pit mineable shapes to demonstrate reasonable prospects for eventual economic extraction ("RPEEE"). • Blocks were classified as Indicated when 1.) demonstrated geological continuity and minimum thickness of 2 m, 2.) the drill spacing was 70 m or lower, estimated by a minimum of 2 drill holes, and meeting the minimum estimation criteria parameters, and 3.) grade continuity at the reported cut-off grade. Blocks were classified Inferred when drill spacing was between 70 m and 140 m and meeting the minimum estimation criteria parameters. Geological continuity and a minimum thickness of 2 m were also mandatory. There are no measured classified blocks. Pegmatite dykes or extension with lower level of information / confidence were also not classified. • Classification shapes are created around contiguous blocks at the stated criteria with consideration for the selected mining method.
• The classification of the MRE is appropriate and reflects the view of Competent Person (
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Audits or reviews |
• The results of any audits or reviews of Mineral Resource estimates. |
• The MRE has been reviewed internally by • There has been no external audit of the MRE.
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Discussion of |
• Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. • The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. • These statements of relative accuracy and confidence of the estimate should be compared with production data, where available. |
• The Competent Person is of the opinion that the Consolidated MRE (CV5 and CV13 pegmatites, as well as that of the Caesium Zone MRE) appropriately considers modifying factors and have been estimated using industry best practices. • The accuracy of the estimate within this Caesium Zone MRE is determined by yet not limited to; geological confidence including understanding the geology, deposit geometry, drill spacing. • As always, changes in commodity price and exchange rate assumptions will have an impact on the optimal size of the conceptual mining open-pit shapes. • Changes in current environmental or legal regulations may affect the operational parameters (cost, mitigation measures). • The Caesium Zone MRE is constrained using open-pit mining shapes, and a mineralogical driven caesium grade constraint to satisfy reasonable prospects for eventual economic extraction. |
APPENDIX 2: MRE DETAILS AND SOURCES FOR DEPOSITS/PROJECTS NOTED IN FIGURE 2.
ABOUT
A Preliminary Economic Assessment ("PEA") was announced for the CV5 Pegmatite (lithium) on
For further information, please contact us at info@patriotbatterymetals.com 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,
"
Head, Investor Relations –
T: +1 (514) 913-5264
E: ocazalapointe@patriotbatterymetals.com
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8 Determination based on Mineral Resource data, sourced through |
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9 The Consolidated MRE cut-off grade is variable depending on the mining method and pegmatite (0.40% Li2O open-pit, 0.60% Li2O underground CV5, and 0.70% Li2O underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and |
DISCLAIMER FOR FORWARD-LOOKING INFORMATION
This press release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable Securities Laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as "plan", "development", "growth", "continued", "intentions", "expectations", "strategy", "opportunities", "anticipated", "trends", "potential", "outlook", "ability", "additional", "on track", "prospects", "viability", "estimated", "reaches", "enhancing", "strengthen", "target", "will", "believes", 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. In particular and without limitation, this press release contains forward-looking statements pertaining to the scale of the pollucite-hosted caesium pegmatite mineral resource defined at Shaakichiuwaanaan; the potential of such resource to be a significant supply source for global markets; the Company's potential to become a critical minerals powerhouse to global markets; the potential of the caesium opportunity at CV13 as an additional saleable product into the overall economic development of the Project; the potential of the development of the Company's Shaakichiuwaanaan Property; the potential for resource growth through continued drill exploration; the Company's intentions with respect to its business and operations; the Company's potential position in the markets and industries it operates in; the perceived merit and further potential of the Company's properties; the results and conclusion from the PEA; the feasibility study, including the timing of release; exploration results and potential for production at the Company's properties including in the manner anticipated by the PEA and within agreed specification under applicable offtake terms; the potential of caesium as a potential by-product in the further development of the
Key assumptions upon which the Company's forward-looking information is based include, without limitation, the total funding required to bring the
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 Company's ability to execute on plans relating to its
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.
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 should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
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.
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