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Pan American Energy Provides Midway Update on Horizon Lithium Phase One Drill Program
The Company has completed six of the eleven fully funded drillholes planned and permitted for Phase I, intercepting over 86% of total drill footage within the S
About this update from Pan American Energy Corp.
[{"type":"text","content":" The Company has completed six of the eleven fully funded drillholes planned and permitted for Phase I, intercepting over 86% of total drill footage within the Siebert Formation. Despite drilling to nearly 1,000 ft, Pan American has not encountered the base of the Seibert Formation, which has locally been shown to host significant lithium grades. CALGARY, Alberta, March 22, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS6) is pleased to announce the Company and its contractors (“Contractors”), KB Drilling (“KB”) and RESPEC Consulting Inc. (“RESPEC”) has encountered a total of 3297.50 feet of continuous potential lithium-bearing claystone and sedimentary units across six (6) of the eleven (11) funded drill hole program. The Company is permitted for a total of twenty-two drill holes to a max depth of 1,000 ft per hole. The Company completed the sixth (6) drillhole, HL020, on March 19th, 2023, drilling to a total depth of 598 feet. Of the total drill footage to date, over eighty-six (86) percent (%) has been in the Siebert Formation, which has been proven by neighboring projects to host significant lithium grades at multiple horizons. The Company and its contractors have mobilized and begun drilling at the seventh (7) drillhole, HL018, which is at the center of the northern border of the property, adjacent to American Battery Technology Corp’s (“ABTC”) Tonopah Flats southern border. To date, the Company has not encountered bedrock or the base of the Siebert Formation, creating an opportunity for deeper drilling in follow-on exploration programs. Jason Latkowcer, Pan American’s Chief Executive Officer, states, “We are thrilled with the results of our drill program thus far and are highly optimistic based on visual logging and our geologist’s interpretation of the core. With each drill hole, we are observing increasing thicknesses of potential lithium-bearing claystone as progress approaches the anticipated center of the depositional basin. Having not encountered the base of the Siebert Formation, we believe there to be a tremendous opportunity for program expansion in subsequent exploration phases. Assay samples are in queue and will help quantify and validate our belief in the project’s potential. We look forward to continuing to execute towards our g...