Pan American Energy Corp. has announced the initiation of work on its first-ever mineral resource estimate (MRE) for the Horizon Lithium Project, located in the Big Smoky Valley, Esmeralda County, Nevada.
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The company has enlisted the services of RESPEC, LLC, a prominent firm specializing in lithium claystone resource assessments and engineering design, to carry out the MRE and create a technical report for the project. RESPEC will utilize data from the company's exploratory drilling program, which included twenty-one targeted diamond core drill holes across the Project's 17,334 acres of lithium-bearing claims, leading to the discovery of significant lithium mineralization on the site, to formulate the MRE.
RESPEC will deliver a comprehensive scope of services for the Horizon Lithium Project, including geological analysis, resource modeling, and the creation of a technical report. This technical report will adhere to the standards set forth by the Canadian Institute of Mining, Metallurgy, and Petroleum for disclosure and will be in compliance with National Instrument 43-101 (NI 43-101) guidelines for the Project.
The undertaking of work on a mineral resource estimate for Horizon underscores the substantial strides made by Pan American in the development of our lithium asset in Nevada.
Jason Latkowcer, Chief Executive Officer, Pan American Energy Corp.
Jason Latkowcer adds, “In less than a year, we were able to complete an extensive exploratory drill program and will soon be announcing a mineral resource estimate. This jurisdiction is world renowned as having some of the largest claystone lithium projects in the United States.”
RESPEC is well versed in modeling this type of mineralization, having recently completed an S-K 1300 report for American Battery Technology, our adjacent neighbor to the North, and we are confident in the quality and accuracy of their work. Our team believes that Horizon has the potential to further expand on the total resource base in the Big Smoky Valley, and are eagerly looking forward to the release of the mineral resource estimate for Horizon.
Jason Latkowcer, Chief Executive Officer, Pan American Energy Corp.
The project tasks encompass various aspects, including conducting a database audit and ensuring quality assurance and quality control. Additionally, mineral domain modeling will be performed specifically for lithium, followed by grade estimation, resource classification, and the preparation of a NI 43-101 technical report for the Project.
The anticipated timeline for the mineral resource estimate and related tables is by the end of October 2023, with the technical report expected to be completed within 45 days following the release of the MRE in accordance with relevant securities regulations.
The Horizon Lithium Project is located directly adjacent to American Battery Technology’s (ABTC) Tonopah Flats project, which is recognized as one of the largest known lithium claystone projects in the United States, with an estimated 15.8 million tons of inferred lithium resources.
It is worth noting that the mineral resource estimate for ABTC's Tonopah Flats project was also developed by RESPEC, following the guidelines of Securities and Exchange Commission Regulation S-K 1300.
Source: https://panam-energy.com