Peloton acquires 200 claims by staking at North Elko

Executive Summary

• Peloton Minerals Corp. has registered 200 additional mineral claims at its 100%-owned North Elko lithium project in Nevada, bringing the total claim count to 642 (53 square kilometres).
• Recent drilling in four widely spaced holes confirmed the presence of a large, mineralized underlying claystone (clay-bearing) stratigraphy, with thicknesses reaching at least 480 feet.
• Drill results showed anomalous lithium, rubidium, and cesium values, with the southernmost hole intersecting increasing concentrations at depth, averaging 618 ppm Li, 160 ppm Rb, and 28 ppm Cs in the bottom 155 feet.

Key Details

• Claim Expansion: Added 200 claims to cover the expected extent of the mineralized claystone layer; total holdings are now 642 claims covering 53 sq km (20 sq miles).
• Geological Context: The claystone strata covers an area of at least 50 sq km within a paleolake basin.
• Drill Hole Depths and Thickness:
  • Three holes encountered claystone from within 20 feet of surface to a vertical depth of 500 feet.
  • One hole (325 feet deep) intercepted basement rock.
  • Minimum claystone thickness identified is 480 feet in three of the holes.
  • Holes were widely spaced at approximately 7 km by 3.5 km apart.
• Assay Results (Southernmost Hole):
  • Bottom 155 feet averaged: 618 ppm Lithium, 160 ppm Rubidium, and 28 ppm Cesium.
  • Last sample at the bottom of the hole returned: 1,150 ppm Lithium, 178 ppm Rubidium, and 43 ppm Cesium.
• Future Work:
  • Focus on identifying horizons with higher concentrations of Li, Rb, or Cs.
  • Integration of airborne, surface, and subsurface data sets to refine targets.
  • Planned follow-on drilling program this summer.
  • First-pass metallurgical work to determine mineral recoverability and extraction paths.
• Completed Exploration Activities:
  • Airborne hyperspectral imaging.
  • Grid-level soil geochemistry (200-metre spacings over north half of claim block).
  • Grid-level X-ray diffraction analysis (1,000+ samples).
  • Airborne geophysics (magnetics, radio-metrics, VLF-EM).
  • Surface geophysics (tTEM over 37 line km).
  • Permitting: Two drill permits in place with 24 drill pads approved.
  • Drilling: Four holes completed (one to 325 ft, three to 500 ft).

Notable Quotes

• No direct quotes from management were included in the text provided.