The Prospector News

Peloton Exploration Programs Underway at the North Elko Lithium Project, Nevada

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Peloton Exploration Programs Underway at the North Elko Lithium Project, Nevada

 

 

 

 

 

Peloton Minerals Corporation (CSE: PMC) (OTCQB: PMCCF) reports that following the closing of a $1 million dollar financing in early June 2024, the Company immediately commenced a multi-faceted program for the exploration of lithium at the Company’s 100% owned North Elko Lithium Project in northeastern Nevada.

NELP is located immediately adjacent to the significant lithium in clay discovery made by Surge Battery Metals.

Highlights or status of the Peloton exploration programs underway include:

  • Collection of 923 soil geochemistry samples at 200 metre spacings across the entire 35 square kilometer property has already been completed. Collection of these samples involved the traverse of more than 200 kilometers, and it was accomplished in two weeks. Samples are now being shipped for preparation and assay.
  • Additional staking has been completed and upon filing and recording of the new claims the Company will issue a press release with greater information.
  • The initial phase of a detailed geologic mapping program took place last week and will continue through July. This program will be supported with field notations taken during the geochemistry sampling, XRD minerology analysis, and Spectrometer prospecting.
  • An airborne geophysical survey covering 535 line-kilometers will commence shortly. This survey will include Magnetics, Radiometrics and Matrix Digital VLF-EM.

 

Assay or other results are generally expected about six weeks after completion of the respective field work. A shallow packsack drilling program will begin after initial results are received, with a deeper core drilling program being planned as a second phase in late 2024 and 2025. New or renewed drill permit applications are being prepared and filed for the second phase.

Peloton President and CEO Edward (Ted) Ellwood commented, “The contractors and suppliers selected for this program are all top-drawer and they certainly aren’t wasting any time. It is exciting to get off to a good start and I expect many important milestones to be completed and achieved over this summer and fall.”

Richard C. Capps, PhD, is the qualified person responsible for approving the technical information contained within this release.

About Peloton:

 

Peloton’s exploration portfolio includes the North Elko Lithium Project, as well as a gold exploration project on the Carlin Trend, Nevada, a past producing gold project in Montana under option to a JV partner, and a non-controlling interest in a copper porphyry project near Butte, Montana.

There are 136,598,705 common shares issued and outstanding in the capital of the Company.

Posted June 25, 2024

Share this news article

MORE or "UNCATEGORIZED"


G Mining Ventures Announces Closing of Private Placements and Receipt of Final Order for Arrangement with Reunion Gold

All amounts are in USD unless stated otherwise $50 million privat... READ MORE

July 12, 2024

SilverCrest Provides Second Quarter Operational Results

Record Revenue, Treasury Assets Increased by 34% During the Quart... READ MORE

July 12, 2024

New Found Intercepts Nine New Gold Zones Spanning 3km in Strike, Doubles Known Vertical Extent of Gold Mineralization to 820m Depth at Queensway

New Found Gold Corp. (TSX-V: NFG) (NYSE-A: NFGC) is pleased to a... READ MORE

July 11, 2024

Kobo Resources Reports Significant Gold Intersections at its Kossou Gold Project With 9.0 Metres at 23.89 g/t Au, Including 1.0 Metre at 210.00 g/t Au and 9.0 Metres at 4.27 g/t Au

Completion of First Diamond Drill Program with 25 Holes (4,368 m)... READ MORE

July 11, 2024

International Battery Metals (IBAT) Commences Operations of World's First Commercial Modular Direct Lithium Extraction (DLE) Plant and First Commercial DLE Plant in North America

Industry-disrupting technology breakthrough vaults IBAT to global... READ MORE

July 11, 2024

Copyright 2024 The Prospector News