Peloton Minerals Corp. [CSE: PMC; OTCQB: PMCCF] reported signing a contract with BGC Engineering of Calgary, Alberta, to conduct geophysical surveys over the North Elko Lithium Project (NELP), Nevada, intended to define the depth and thickness of potential lithium bearing clay layers thought to exist under portions of NELP. BGC Engineering (BGC) is an international consulting firm that provides professional services in applied earth sciences.
Peloton has conducted several surface exploration activities at NELP this summer with promising results. The company is now looking to map the depth and widths of potential underlying lithium bearing clay layers using geophysical technologies employed successfully by neighboring Surge Battery Metals, who have established a significant lithium-in-clay resource immediately adjacent to NELP.
BGC has been retained to perform the following scope of work this year: Towed Transient Electromagnetic (tTEM) survey. tTEM is a mobile ground-based transient system used for rapidly mapping subsurface electrical conductivities over large areas. BGC, on behalf of Peloton, will use this method in road and ATV accessible areas of NELP to collect as much as 38.7 line-km of data.
Electrical Resistivity Tomography (ERT) surveys. ERT is a geoelectric technique which can be used to profile subsurface resistivity. This will allow Peloton to target, with drilling, the thickness of potentially lithium-enriched clay layers, and tuff layers thought to exist between layers of clay.
Edward (Ted) Ellwood, President and CEO, commented, “This work is scheduled for early December 2024 which will enable us to model and design an efficient drilling program for the spring of 2025. This technology has been remarkably successful for Surge next door and should work well on our property as we share a very similar geologic environment.”
Peloton has 137,265,371 common shares issued and outstanding.
