Peloton Minerals Corporation (PMC); (PMCCF) has announced the initiation of a comprehensive exploration program at its North Elko Lithium Project (NELP) in northeastern Nevada. This follows the successful completion of a $1 million financing in early June 2024.

North Elko Lithium Project Overview

The North Elko Lithium Project is strategically located adjacent to a major lithium discovery by Surge Battery Metals. Peloton’s exploration aims to tap into this promising region.

Soil Geochemistry Sampling

The company has collected 923 soil geochemistry samples across the 35 square kilometer property. These samples were collected at 200-metre spacings, involved traversing over 200 kilometers, and were completed in two weeks. The samples are being prepared for assay.

Additional Staking and Claim Filing

New staking has been completed. Following the filing and recording of the new claims, Peloton will release additional information.

Geologic Mapping Program

The initial phase of a detailed geologic mapping program began last week and continues through July. This effort is supported by field notations from the soil sampling, XRD mineralogy analysis, and spectrometer prospecting.

Airborne Geophysical Survey

An airborne geophysical survey covering 535 line-kilometers will soon commence. It includes Magnetics, Radiometrics, and Matrix Digital VLF-EM.

Future Drilling Programs

Results from assays and other tests are expected about six weeks post-field work completion. A shallow packsack drilling program will begin upon receipt of initial results. A deeper core drilling program is planned for late 2024 and 2025. New or renewed drill permit applications are being prepared for this phase.

Statement from Peloton CEO

Edward (Ted) Ellwood, CEO of Peloton Minerals Corporation, stated, “The contractors and suppliers selected for this program are top-notch and they’re working swiftly. We are excited to achieve many important milestones over this summer and fall.”

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