Peloton Completes the Maiden Drilling Program at the North Elko Lithium Project, Nevada

Core Insights - Peloton Minerals Corporation has successfully completed its maiden drilling program at the North Elko Lithium Project (NELP) in northeastern Nevada, confirming the presence of clay layers and achieving all program objectives [1][2][4] Drilling Program Details - The drilling program consisted of four holes totaling 1,825 feet, confirming clay layers to a vertical depth of at least 500 feet and across a widespread area with drill spacing of 7 by 3.5 kilometers [2][3] - Three holes reached a depth of 500 feet in clay-bearing material, while one hole was stopped at 325 feet after hitting basement rocks [3] Sample Analysis - Samples from the drill holes will undergo multi-element assay analysis to determine lithium presence and other critical minerals, with results expected by the end of January 2026 [4] - X-Ray Diffraction (XRD) analysis will also be conducted to understand mineralogy and check for zeolite minerals [4] Project Location and Size - NELP is located adjacent to a high-grade lithium deposit discovered in 2023 by Surge Battery Metals and covers an area of approximately 37 square kilometers (14.25 square miles) [5] Future Exploration Plans - Peloton holds two drilling permits for NELP and has 24 drill pad locations permitted for follow-on programs, with potential for more pads as exploration continues [6]