North Elko Lithium Project
The North Elko Lithium Project (NELP) is located about 70 kilometers north-east of Wells, Nevada, and consists of 442 mineral claims (37 square kilometers). It is 100% owned with no royalties outstanding.
Immediately adjacent and tied onto the western portion of NELP, Surge Battery Metals Inc. (Surge) has made a massive high grade lithium discovery, which Surge has stated is now the highest grade lithium clay resource in the United States. The Surge press release of September 24, 2024 stated that Surge now has a resource of 11. 24 million tonnes of LCE (Lithium Carbonate Equivalent) grading 3,010 ppm Lithium <Link to press release>
Using an airborne hyperspectral survey to identify lithium bearing clays at surface, a property wide soil geochemistry sampling grid, extensive X-Ray Diffraction analysis, airborne geophysics and detailed geologic mapping, Peloton has identified an area approximately 25 kilometers square that contains anomalous lithium in an alkaline paleolake basin environment of deposition (the “Target Area”). This environment is the same as that of the adjacent property of Surge where the lithium deposit was found within clay layers in an alkaline paleolake basin environment.
Geologic mapping suggests the Target Area sampled at surface is likely higher in the stratigraphy than the lithium clay layers identified on Surge’s adjacent property, and that drilling is warranted to test the potential of clay layers below surface. A cross section published by Surge in its July 23, 2024, press release shows the clay layers dipping toward NELP, and projects those layers to within 1.0 to 1.5 kilometers of NELP.
A surface geophysical technique (tTEM) was employed in December 2024 to map the depth and widths of potential underlying clay layers, a technique that has been successfully used by Surge. The results and interpretations from this survey should be available in Q1 – 2025 and drilling permits will be amended accordingly. A maiden drilling program is planned for the summer of 2025.
Click Here for the Chronology of Exploration at the North Elko Lithium Project.
Ground Position – Peloton and Surge Battery Metals
Geology Map and Claim Outline
The Texas Canyon claim block (western portion of NELP) is also prospective for uranium, molybdenum and gold. Texas Canyon was featured at the 2022 Geologic Society of Nevada Symposium. Click here for Texas Canyon.
The Golden Trail claim block (eastern portion of NELP) is also prospective for gold and silver. Golden Trail was featured at the 2015 Geologic Society of Nevada Symposium. Click here for Golden Trail.
Images below are from staking the NELP claim block in 2023 and 2024.
