- Peloton Minerals (CSE:PMC) reports a significant new lithium discovery by Surge Battery Metals (TSX:NILI) next to its Texas Canyon Project
- CAT Strategic Metals Corp. (CSE:CAT) is tied onto the eastern boundary of Texas Canyon and has also recently reported lithium potential
- Peloton’s sampling of the waste dump has returned samples up to 1 per cent uranium as well as up to 1660 ppm molybdenum and up to 1280 ppb gold
- Peloton Minerals Corp. (PMC) opened trading at $0.12 per share
Peloton Minerals (CSE:PMC) reports a significant new lithium discovery by Surge Battery Metals (TSX:NILI) next to its Texas Canyon Project.
CAT Strategic Metals Corp. (CSE:CAT) is tied onto the eastern boundary of Texas Canyon and has also recently reported lithium potential. Both companies surround Texas Canyon with mineral claims, and both are reporting plans for drilling programs this summer.
Texas Canyon hosts several breccia bodies along the margin of a graben/caldera structure. Peloton’s sampling of the waste dump has returned samples up to 1 per cent uranium as well as up to 1660 ppm molybdenum and up to 1280 ppb gold. The company suggests that the adjacent lithium mineralization, and the property’s uranium mineralization, likely shares traits within the margin of the caldera.
Meanwhile, Surge has reported multiple drill intersections of between 1,000 ppm and 5,000 ppm lithium, with thicknesses of between 3 metres and 36.5 metres, and a strike length of 1,620 metres. That team also reported that they have received positive metallurgical results, while CAT has found lithium values within historic sampling and set drilling targets.
In 2016, Peloton conducted an airborne hyperspectral survey over Texas Canyon and its nearby Golden Trail Project, which covered 100 sq. km. and included the adjacent ground positions now held by Surge and CAT. Peloton is screening this regional hyperspectral data base for clays that may bear lithium.
Peloton holds a 100 per cent interest in three Carlin-style gold exploration projects located in Elko County, Nevada, all of which are permitted for drilling. To keep up with the latest happenings in the gold mining industry, click here for Stockhouse’s trending gold news page.
Peloton Minerals Corp. (PMC) opened trading at $0.12 per share.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.