Business
Coloured Ties Applauds Investee Patriot Battery Metals Drilling Success at Corvette Lithium Discovery and Provides Update on Other Lithium Portfolio Assets
Vancouver, British Columbia--(Newsfile Corp. - September 2, 2022) - Coloured Ties Capital Inc....
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties Applauds Investee Patriot Battery Metals Drilling Success at Corvette Lithium Discovery and Provides Update on Other Lithium Portfolio AssetsVancouver, British Columbia--(Newsfile Corp. - September 2, 2022) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (\"Coloured Ties\" or the \"Company\") provides the following corporate update.PATRIOT BATTERY METALS INVESTMENT UPDATEColoured Ties has been an early investor and has acquired a total of 1,740,700 common shares of Patriot Battery Metals via purchases thru the Canadian Securities Exchange from December to August 31, 2022, at an average cost of $1.48 per share.On August 31, 2022 Patriot Battery Metals Inc. released core assay results for an additional six drill holes (CV22-037, CV22-038, CV22-039, CV22-042, CV22-043 and CV22-044) completed as part of the summer phase of the 2022 drill campaign at its wholly owned Corvette property, located in the James Bay region of Quebec. The target drill area - at the CV Lithium Trend - is located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and power line infrastructure.The Company is pleased to announce some of the strongest lithium mineralized intervals of the drill campaign to date at Corvette, including the strongest based on a lithium grade-times-width metric - CV22-042. This drill hole returned a continuous pegmatite interval (core length) of 159.7 m grading 1.65 per cent Li2O, including 9.0 m of 4.12 per cent Li2O, and was completed as follow-up along strike eastwardly of the 2.22 per cent Li2O over 70.1 m intercept in drill hole CV22-017 (see news release dated May 24, 2022) (Figures 1 and 2). Additionally, drill hole CV22-044 was completed as a step-back to CV22-017 to test the high-grade zone at depth and returned 86.2 m grading 2.13 per cent Li2O, including 18.0 m of 3.07 per cent Li2O (Figure 3). Collectively, both drill holes (CV22-042 and 044) have extended the high-grade lithium zone - first intersected in CV22-017 - along strike and to depth, respectively.Ken Brinsden, Non-Executive Chairman and Director, comments: \"The scope of lithium mineralization at Corvette is incredible, with further strong intercepts from the summer program continuing to demonstrate the scale and grade of the mineralized envelope. Remaining open to the east, west, and to depth, in ad...