(TheNewswire)
London, Ontario - TheNewswire - September 26, 2023 - Peloton Minerals Corporation (“PMC” or the “Company”) (CSE:PMC ) ( OTC:PMCCF) hasstaked and filed for recording 98 new mineral claims in northeasternNevada after identifying significant outcrops of potential lithiumbearing hectorite and illitic clays using hyperspectral minerologymapping technology.
The newly staked claims are between and slightly south of two otherclaim blocks the Company holds in the area, Texas Canyon and GoldenTrail, which are about 6 kilometers (3.7 miles) apart, and also hosthectorite and illitic clays similarly identified using hyperspectralminerology mapping technology. The total ground position now held bythe Company in the area is 186 mineral claims or about 1,500 hectares(3,700 acres).
A map accompanies this release showing the outline of the three claimblocks now held by Peloton, the hectorite and illitic occurrencesidentified on each claim block, and the proximity to Surge BatteryMetals Inc. (“Surge”) to the west, who have tied onto theCompany’s western most claim block (Texas Canyon), to the west andsouth. Surge has reported to have made a new lithium discovery inclays immediately west of the Company’s Texas Canyon claim block andis reported to be actively drilling at this time.
Hectorite and illitic clays are the predominant lithium bearingminerals at Thacker Pass within the McDermitt Caldera in westernNevada which is the largest known measured and indicated lithiumresource in the United States.
The Company is planning a number of ground exploration programs anddrilling of the hectorite and illitic outcrops. The Company hasretained IBK Capital Corporation of Toronto to source lithiumexploration capital.
Map follows:
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-697-2313
Richard C. Capps, PhD, is the qualified personresponsible for approving the technical information contained withinthis release.
Peloton is a reporting issuer in good standing in the Provinces ofOntario and British Columbia whose common shares are listed on the CSE(Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF).There are 123,099,458 common shares issued and outstanding in thecapital of the Company.
Peloton’s exploration portfolio includes fourexploration projects in Elko County, Nevada (lithium, uranium,molybdenum, gold), as well as a past producing gold project in Montanaunder option to a JV partner, and a non-controlling interest in acopper porphyry project near Butte, Montana.
CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release.
This news releasecontains "forward-looking information" (within the meaningof applicable Canadian securities laws) and "forward-lookingstatements" (within the meaning of the U.S. Private SecuritiesLitigation Reform Act of 1995). Such statements or information areidentified with words such as "anticipate","believe", "estimate”, "expect",“foresee”, "intend", “looking”, “plan”,"potential", "propose", "project",”suggests”, "outlook" or similar words suggesting futureoutcomes or statements regarding an outlook.
Such statementsinclude, among others, those concerning the Company’s plansfor exploration activity and to conduct future explorationprograms. Such forward-looking information or statements are based on a numberof risks, uncertainties, and assumptions which may cause actualresults or other expectations to differ materially from thoseanticipated and which may prove to be incorrect. Assumptions have beenmade regarding, among other things, management's expectationsregarding its ability to initiate and complete future exploration workas expected. Actual results could differ materially due to a number offactors, including, without limitation, operational risks in thecompletion of the Company’s future exploration work; technical,safety or regulatory issues; availability of capital; changes in general economicconditions and financial markets; the imposition of governmentrestrictions on business which may ultimately affect and delay theexploration timeline; and changes in prices for metals that theCompany is exploring for .
Although the Companybelieves that the expectations reflected in the forward-lookinginformation or statements are reasonable, prospective investors in theCompany’s securities should not place undue reliance onforward-looking statements because the Company can provide noassurance that such expectations will prove to be correct.Forward-looking information and statements contained in this newsrelease are as of the date of this news release and the Companyassumes no obligation to update or revise this forward-lookinginformation and statements except as required by law.
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