- Pan American (PNRG) encountered 83.7 metres of continuous potential lithium-bearing claystone at its Horizon Lithium Project
- The company has completed six of the 11 drill holes planned and permitted for Phase I, intercepting more than 86 per cent of total drill footage within the Siebert Formation
- Despite drilling more than 300 metres, Pan American has not encountered the base of the Seibert Formation, which has locally been shown to host significant lithium grades
- Pan American Energy (PNRG) opened trading at $0.64 per share
Pan American (PNRG) encountered 83.7 metres of continuous potential lithium-bearing claystone at its Horizon Lithium Project.
The company has completed six of the 11 drill holes planned and permitted for Phase I, intercepting more than 86 per cent of total drill footage within the Siebert Formation.
Despite drilling more than 300 metres, Pan American has not encountered the base of the Seibert Formation, which has locally been shown to host significant lithium grades.
The company commissioned KB Drilling to complete the work, and its operating partner, RESPEC Consulting, oversees the drilling, geological work, and field operations. The 70 sq. km. project is located within the Clayton Valley – Tonopah Lithium Belt in Nevada.
Pan American’s CEO Jason Latkowcer stated that the team is highly optimistic based on visual logging and the geologist’s interpretation of the core.
“With each drill hole, we are observing increasing thicknesses of potential lithium-bearing claystone as progress approaches the anticipated center of the depositional basin. Having not encountered the base of the Siebert Formation, we believe there to be a tremendous opportunity for program expansion in subsequent exploration phases. Assay samples are in queue and will help quantify and validate our belief in the project’s potential. We look forward to continuing to execute towards our goal of defining the lithium potential on our property”.
Pan American Energy Corp. is an exploration-stage company engaged in the acquisition, exploration and development of mineral properties containing battery metals in North America.
Pan American Energy (PNRG) opened trading at $0.64 per share.
