- Pan American (PNRG) encountered 267 metres of nearly continuous potential lithium-bearing claystone at its Horizon Lithium Project
- This occurred within its maiden drill hole, HL010. This drill hole is the furthest drill target to the northeast of the fully permitted 22-hole program
- Having successfully completed drill hole HL010, the company and its partners have begun drilling at a second hole, HL090
- Pan American Energy (PNRG) was unchanged, trading at $0.72 per share as of 1:55 pm ET
Pan American (PNRG) encountered 267 metres of nearly continuous potential lithium-bearing claystone at its Horizon Lithium Project.
This occurred within its maiden drill hole, HL010. This drill hole is the furthest drill target to the northeast of the fully permitted 22-hole program. The company reported that it continued to observe potential lithium-bearing claystone at 301 metres of depth and did not encounter the base of the Siebert Formation along the margin of the basin.
Pan American commissioned KB Drilling to complete the work, and its operating partner, RESPEC Consulting, will oversee the drilling, geological work, and field operations.
Pan American’s CEO Jason Latkowcer stated that this maiden drill hole has exceeded the team’s expectations.
“We’ve observed nearly continuous potential lithium-bearing claystone near surface and at depth. Having not reached the base of the Siebert Formation, additional potential claystone mineralization may exist beyond 989 feet. If this hole returns favourable results for lithium mineralization, it will certainly advance our objective of defining a meaningful lithium resource estimate. Our second drill hole is already showing early indications of similar potential.”
A total of 181 samples will be sent for expedited testing and analysis to ALS Global in Reno, Nevada. Having successfully completed drill hole HL010, the company and its partners have begun drilling at a second hole, HL090.
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) was unchanged, trading at $0.72 per share as of 1:55 pm ET.
