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Pan American Energy Announces Phase One Drilling Results at the Horizon Lithium Project, Esmeralda County, Nevada
CALGARY, Alberta, May 24, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is plea
About this update from Pan American Energy Corp.
[{"type":"text","content":" CALGARY, Alberta, May 24, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is pleased to announce positive drill results from its initial exploratory subsurface drill program, Phase 1, at its Horizon Lithium Project (“Horizon”) in Big Smoky Valley, Nevada. The program involved targeted drilling in strategic locations based on extensive geological research conducted by the Company’s strategic contractor partner, RESPEC (“RESPEC”). This initial exploratory drilling program consisted of eleven (11) targeted diamond core drill holes on Pan American’s 17,334 acres of lithium-bearing claims resulting in the identification of substantial lithium deposits within the region. The successful drill program represents a major milestone for Pan American, showcasing their expertise in identifying and evaluating valuable mineral resources. The Company remains committed to responsible mining practices and intends to continue exploration efforts to further delineate the size, quality, and economic viability of the newly discovered lithium deposits. Highlights from this Phase 1 drilling program include: Peak lithium grade of 2,040 ppm 1,118 intervals of lithium-bearing Siebert Fm. sent for assay with 63% returning grades at or above 300 ppm and 44% greater than 600 ppm of lithium Total of 7,486.5 ft drilled with outstanding core recovery of Siebert Fm. exceeding 98% Setup and implementation of a streamlined core processing facility in Tonopah, NV to provide geotechnical & lithologic logging, core cutting & storage, and sample selection & preparation Phase 1 operational success included controlled surface disturbance, minimized environmental impact, and respectable performance by KB Drilling, Inc. Drilling was halted on drill hole HL018 at 162 ft and is being evaluated for re-entry Lithium Concentrations: Lithium concentrations presented in the table incorporate no cut-off reflecting a more robust weighted average of the full dataset per hole. Assay results indicated excellent core recovery and encountered high lithium concentrations with thick zones of mineralization. Shallow Overburden: The alluvium cover on the property is comparable to industry peers with a similar range of depths. The distribution of fifty-five (55) samples taken from depths shallower th...