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HORIZON LITHIUM

Overview

The Horizon Project is prospective for near-surface domestic American claystone lithium.

The company completed a 21 drill program (14,432.50 ft), drilling to a max depth of 1,000 ft depth/hole

Horizon consists of 839 claims (7,015ha) just 7.5 km from Tonopah, Nevada

Nevada Bureau of Mines and Geology mapping shows a caldera 16 kilometers in diameter on the eastern portion of the project.

Adjacent to DOE Bipartisan Infrastructure Law grant award project, Tonopah Flats (USD $115 million), for a first-of-kind Lithium Hydroxide claystone processing plant

Click image to enlarge
Click image to enlarge

2023 Drill Program

On April 25, 2023 Pan American announced the Company’s lithium discovery – encountering lithium in all drill holes sampled to date
  • Results from 20 drill holes intercepted significant lithium grades at multiple broad horizons within the Siebert Formation, testing as high as 2,040 ppm
  • Based on the success of the drilling program, the Company is advancing towards a Mineral Resource Estimate (MRE) before the end of 2023
  • Drilling program design
    • Holes Drilled = 21 (BLM, permitted for 22)
    • Minimum Spacing = 900 m
    • Overlap = 50 m
    • Maximum Depth = 1,000 ft
    • Total footage = 14,432.50 ft

1 – ABTC News Release

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Phase One Drilling Highlights

  • Peak lithium grade of 2,040 ppm with broad zones of mineralization
  • Lithium Concentrations: Using a 900 ppm cut-off weighted lithium grade, eight (8) drill holes ranged from 902 ppm to 1033 ppm with a total cumulative thickness of 2,426 feet (Table 1). The highest measured assay value was 2,040 ppm (HL008) at a depth of 394 ft. Sixteen (16) drill holes produced an average weighted lithium grade above 300 ppm with a total cumulative thickness of 7,390 ft (Table 2)
  • Shallow Overburden: Anomalous lithium concentrations were measured at shallow depth, with as little as 15.5 ft (HL030) overburden.
  • Depth of Mineralization: Drill holes were advanced as far as 1,000 ft of depth confirming lithium mineralization extends to a significant range. Also, the drill results show that lithium-bearing claystone at Horizon is extensive and several meters thick. The basal bedrock of the Siebert Formation was not encountered, allowing for further exploration at depth.
  • Deposit Significance: Exceptional drill results have the potential to further expand on the resource magnitude in the Big Smoky Valley, Nevada.
  • Future Plans: Mineral Resource Estimate Q4-2023.

1 – ABTC News Release

Click image to enlarge
Click image to enlarge
Click image to enlarge

Geology

Horizon’s 7,015ha claim area adjoins American Battery Technology’s (“ABTC”) Tonopah Flats project.

ABTC, American Lithium, Enertopia, and Blackrock Silver Corp show Li grades at depths which indicate the Seibert Formation to be the primary host for mineralization

  • Horizon appears centered on lithium mineralization projected from TLC through Enertopia and ABTC.
  • Regional peer analysis indicates lithium is weakly bound to the clays

  • Drilling has proven limited overburden with continuous clay intercepts at depth

  • The Company is targeting the Siebert Formation, which has been proven to host significant lithium grades at multiple horizons

An accompanying cross-section which bisects the Horizon claims illustrates the local stratigraphy, including the presence of Seibert Formation overlain by Quaternary sediments.

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A Nevada Bureau of Mines & Geology Bulletin documented Seibert Formation outcrops along basin margins, to either side of Horizon property as displayed in the 1979 geologic map.

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Adjacent Ventures

On February 28th, 2023 ABTC announced one of the largest known inferred lithiumclaystone resource deposits in the United States, with 15.8 million tonnes of lithium carbonate equivalent (LCE)1
  • Pan American’s preliminary drill results are especially significant because of lithium mineralization beginning near surface and extending to depth
  • Both Enertopia Corporation and Blackrock Silver have commenced drilling with encouraging lithium showings on their projects
  • Drilling indicates significant claystone hosted lithium endowment in the North Big Smoky Valley basin
  • Pan American is aligned with RESPEC, a strategic consultant who supported ABTC’s resource S-K1300 report
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Note: Management cautions that past results or discoveries on proximal properties may not necessarily be indicative to the mineralization present on the Company’s properties 

Qualified Person

The scientific and technical information contained on this website relating to the Horizon Lithium Project has been reviewed and approved by Tabetha Stirrett, P. Geo, a “Qualified Person” as defined by National Instrument 43-101.

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