- Pan American (PNRG) encountered 164 metres of continuous potential lithium-bearing claystone at its Horizon Lithium Project
- This was unearthed from the second drill hole, HL009, on the fully permitted 22-hole program
- The company continued to observe potential lithium-bearing claystone at a depth of 182 metres
- Pan American Energy (PNRG) was up 2.86 per cent, trading at $0.72 per share as of 10:20 am ET
Pan American (PNRG) encountered 164 metres of continuous potential lithium-bearing claystone at its Horizon Lithium Project.
This was unearthed from the second drill hole, HL009, on the fully permitted 22-hole program. The company continued to observe potential lithium-bearing claystone at a depth of 182 metres.
Pan American commissioned KB Drilling to complete the work, and its operating partner, RESPEC Consulting, will oversee the drilling, geological work, and field operations.
The company and its contractors have begun drilling at the third drill hole, HL022, located on the Horizon Lithium Project’s northern border, proximal to American Battery Technology Co.’s (OTCQX: ABML) southern border of the Tonopah Flats Project.
ABML disclosed an SK-1300 compliant technical report completed by RESPEC in February 2023 showing one of the largest known inferred lithium claystone resource deposits in the United States, with 15.8 million tons of lithium carbonate equivalent.
Pan American’s CEO Jason Latkowcer stated that the team is making progress on the exploration program and will soon reach total depth on drill hole three, HL022.
“We’d like to congratulate our neighbours, American Battery Technology Corp, on their recent inferred resource announcement showing one of the largest known inferred lithium claystone resource deposits in the USA, immediately north and adjacent to our Horizon claim block. We are optimistic that our third drill hole, HL022, which is the closest to our shared border with ABML, will show similar, contiguous mineralization that was observed in the southern drill holes on ABML’s 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) was up 2.86 per cent, trading at $0.72 per share as of 10:20 am ET.
