Peloton Minerals stakes 200 more claims at North Elko

Executive Summary

• Peloton Minerals Corp. has staked an additional 200 mineral claims at its North Elko Lithium Project (NELP) in Nevada, expanding the total ground position to 642 claims covering 53 square kilometers (20 square miles).
• The company reports significant lithium intercepts from a recent drill hole near Bell Canyon Road, with the bottom 155 feet averaging 618 ppm Li and the final sample returning 1,150 ppm Li, indicating increasing values at depth.
• Peloton plans to conduct metallurgical studies for cesium and rubidium recovery and refine drill targets using geophysical and historical data ahead of a follow-on drill program scheduled for this summer.

Key Details

• Land Acquisition: Staked 200 additional claims, bringing the total to 642 claims.
• Project Size: Total ground position is now 53 square kilometers (20 square miles).
• Location: Claims are contiguous with the former southern boundary of NELP, covering Bell Canyon and Bell Canyon Road.
• Drilling Results (Bell Canyon Hole):
  • Bottom 155 feet averaged 618 ppm lithium.
  • Last sample at the bottom of the hole returned 1,150 ppm lithium.
  • Hole bottomed in claystone mineralization; planned to be drilled deeper in the next program.
• Strategic Context: Drill location selected based on strike alignment with Surge Battery Metals' adjacent discovery, tTEM geophysics, and 1965 water well logs showing similar clay sequences.
• By-Product Assays (Cesium and Rubidium):
  • Assays were consistent across all four drill holes.
  • Average of 352 drill samples: 77 ppm Cesium and 121 ppm Rubidium.
  • First-pass metallurgical work planned to determine recoverability of these elements.
• Future Work:
  • Winter studies to combine airborne, surface, and subsurface data to refine drill targets.
  • Follow-on drill program scheduled for this summer.
  • Detailed outline of work to be issued after finalizing scope.

Notable Quotes

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