Successful Maiden Drilling At The North Elko Lithium Project

ONTARIO – Peloton Minerals Corporation reported on the maiden drilling program at the North Elko Lithium Project (NELP) located in northeastern Nevada. The program comprised four vertical exploration holes drilled to a maximum depth of 500 feet (152 meters) and represents the first lithium-focused drilling ever completed on the NELP property.
Lithium mineralization was intersected in all four holes, starting at the 20-to-25-foot interval in each hole, hosted in claystone horizons within the paleolake volcano-sedimentary sequence. Of 352 five-foot samples assayed, 89% were anomalous to strongly anomalous in lithium. The best downhole interval of 155 feet averaging 618 ppm lithium was returned in one hole which includes intervals up to 1,155 ppm lithium. The last 5-foot sample interval was 1150 ppm. 
Cesium and rubidium are strongly anomalous in all four drill holes, suggesting a chemically evolved, alkali‑rich volcano-sedimentary system with potential for these critical minerals. The average of all 352 samples was 77 ppm cesium and 121 ppm rubidium.  Drilling confirms a thick, laterally extensive clay package beneath surface anomalies and validates the basin‑scale exploration model that NELP is underlain by the same, or similar, lithium‑bearing claystone system present on adjacent ground. 
The four holes were cased to 20 feet and sampling was on 5-foot (1.52 meters) intervals from the 20 to 25-foot interval to the total depth.  The holes were positioned across a large portion of the 37 square kilometer claim block to test basin geometry, stratigraphy, and the extent of lithium and clay‑bearing paleolake (historic lake) sediments and tuffs indicated by previous geophysics and surface sampling.
The drill program successfully achieved its primary technical objectives: 1) Confirmed the presence of lithium‑bearing claystones to depths of at least 500 feet over a 7 kilometer by 3.5-kilometer area of the property. 2) Established that the NELP basin is fertile not only for lithium but also for critical metals including cesium and rubidium, elements that have been highlighted at other advanced Nevada lithium claystone deposits. 3) Provided initial data on the orientation and stratigraphy of the underlying claystones. 
These results provide first‑pass confirmation that the NELP basin hosts a significant lithium and critical mineral bearing volcano-sedimentary system, warranting further systematic exploration drilling and technical evaluation.