Exploration stage company Pan American Energy on Monday announced its inaugural mineral resource estimate (MRE) on the Horizon lithium project, in Big Smoky Valley, Nevada.
The CSE-listed company stated that Horizon was “one of the largest identified lithium deposits” in the US, with an estimated indicated mineral resource of 372.85-million tonnes at an average grade of 669 ppm for 1.33-million tonnes of lithium carbonate equivalent (LCE) and inferred resources of 2.45-million tonnes at an average grade of 680 ppm for 8.88-million tonnes of LCE.
Pan American, which acquired the rights to the project through a property option agreement, is working on a preliminary economic assessment for the project, and expects the study to be completed by late next year.
The project sits immediately adjacent to American Battery Technology’s Tonopah Flats project, with an MRE of 15.8-million tonnes of inferred LCE mineral resources.
“The past year has been an impressive demonstration of how quickly our team has been able to meet operational objectives. Within less than a year, our drilling efforts led to a tremendous discovery of a cluster of lithium mineralisation and the inaugural MRE on the project – one of the largest in the United States. I commend our team and contractors,” said CEO Jason Latkowcer.
He stated that Pan American’s execution strategy was to advance the project through engineering as quickly as possible, while concurrently working to expand and upgrade the mineral resources at the project.
The company would also consider prospective acquisition targets in the area in order to enhance its land package, Latkowcer stated.