07:03 AM EDT, 06/25/2024 (MT Newswires) -- Patriot Battery Metals ( PMETF ) late on Monday reported continued strong lithium mineralization over wide intervals from drilling at the CV5 spodumene pegmatite within the Corvette property in Quebec.

Highlights of the results include 124.9 meters at 1.72% lithium oxide (Li2O) and 35.6 meters at 3.78% Li2O. This is the final batch of core assay results from CV5 ahead of a third-quarter mineral resource update.

The 2024 winter drilling program was focused on supporting an upgrade in mineral resource confidence, from the inferred category to the indicated category, targeting release in August and including a maiden mineral resource for the CV13 discovery.

Patriot said it is on track to provide a preliminary economic assessment based on the updated CV5 resource, scheduled for the September quarter.

"These final holes from our winter program at CV5 continue to impress and demonstrate the scale of mineralization over a significant strike length," said Darren Smith, vice president of exploration at Patriot.

Patriot's share price lost 2.1% to $5.12 on Monday.