Peloton Minerals Corp (CSE:PMC) (OTCQB:PMCCF) president and CEO Ted Ellwood talked with Proactive’s Stephen Gunnion about the company’s lithium exploration progress at Resourcing Tomorrow 2025 in London.

Ellwood highlighted Peloton’s focus on its lithium clay project in northeastern Nevada, which the company believes has significant scale potential. “We’ve got a big lithium clay deposit… it’s a district-scale deposit,” Ellwood said, adding that the underlying geology is similar to that of Lithium Americas, which hosts the world’s largest lithium clay deposit.

Interest in the region grew after Surge Battery Metals discovered high-grade lithium clay adjacent to Peloton’s claims. This prompted Peloton to stake additional claims and reassess the lithium potential of its own ground. The company now holds 450 claims across 37km².

Peloton recently began a maiden drilling program across four widely spaced holes, with early drilling intersecting clay in every hole. “It’s checking all the boxes in terms of what we wanted to see,” Ellwood noted. The company expects assay results by the end of January 2026.

Ellwood also discussed financials, confirming that the company raised C$2 million in 2024 to fund surface work and drilling. A follow-up program, already permitted for 24 drill pads, is planned depending on results, with a projected cost of CAD 3 to 5 million.

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