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Patriot Lithium Acquire Further Mining Claims Contiguous to Gorman Project

10 January 2024 08:31
ASX: PAT

Patriot Lithium (ASX: PAT) continues its aggressive consolidation of mining claims in Northern Ontario, announcing its latest acquisition of 61 mining claims from Beyond Lithium Inc (CSE: BY), encompassing 1,187ha of highly prospective ground contiguous with its expanded Gorman Project.

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Figure 1: Gorman Project and Gorman expansion areas (mining claims held or optioned by Patriot) with LCT pegmatite occurrences shown as crosses. Also shown are Patriot’s outcropping, high-grade G0-G3 lithium pegmatites and Frontier Lithium’s mining claims and PAK, Spark and Bolt lithium deposits.

Strategic Acquisition

The 61 mining claims, acquired by Patriot, form two claim blocks of highly prospective ground contiguous with Patriot’s expanded Gorman Project.

The claim blocks form key inliers in the Patriot controlled claims at Gorman. Of significance, both claim blocks are on trend with mapped LCT pegmatite outcrops, and are strategically located 60 kilometres Northwest of Frontier Lithium’s (TSXV:FL) PAK-Spark lithium development Project and over and along the Bearhead Lake Fault, by over 11 square kilometres.

Beyond Lithium has already identified several several target areas with probable LCT pegmatite outcrops, identified through orthophotos, LiDAR data, and helicopter flyovers.

Patriot plans to carry out field verification and reconnaissance of these targets throughout this year.

Gorman’s Prospectivity

Patriot announced in October 2023 it had discovered a 5.2 kilometre-long, spodumene-bearing LCT pegmatite trend at the Gorman Project, and later confirmed high grade lithium mineralisation through rock chip sampling across the G0-G3 pegmatites.

The Company reported a continuous 1.5 kilometre-long lithium in soil anomaly, including rock chip samples up to 3.71% Li2O and sawn channel samples of 12.8 metres @ 1.3% Li2O and 5.0 metres @ 2.0% Li2O.

The identification of the mineralised LCT pegmatites at Gorman marked a promising milestone for Patriot, as this trend lies a mere 68 kilometres from one of the largest and highest grade lithium deposits in North America, Frontier Lithium’s PAK Project, which recently yielded intercepts including 398 metres @ 1.88% Li2O.

The acquisition of these contiguous claims increase Patriot’s total land package to 800 square kilometres, putting the Company in good stride to continue its lithium exploration in Northern Ontario.

Company Commentary

Patriot Lithium’s CEO and Managing Director Nicholas Vickery commented on the acquisition.

“Patriot is extremely pleased to have been able to acquire further claims in Ontario which form key inliers within the Gorman region,” he said.

“The results so far at Patriot’s Gorman project, as well as the significant resource already discovered at Frontier Lithium’s (TSXV:FL) world-class PAK-Spark lithium development project, have already shown this to be an extremely prospective lithium district.”

“We hold high hopes for the region and look forward to continuing our successful exploration campaign into 2024, including drilling at Gorman which is currently planned for the second quarter of this year.”

PAT’s Australian Securities Exchange-listed share price is currently trading at $0.170 (8.24pm UTC+ 8 hours).

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