Peloton Minerals Corporation (CSE: PMC; OTCQB: PMCCF) announced it is actively conducting an airborne magnetic geophysical survey using drone technology at its North Elko Lithium and critical minerals project (NELP) in northeastern Nevada. The survey covers the southern half of the 53-square-kilometre property, approximately 26 square kilometres, with a total flight distance of 372 kilometres. The program is a direct precursor to a fall drilling campaign, making it a key development for investors tracking the company's lithium exploration progress.

Key Points

  • Peloton Minerals Corporation (CSE: PMC; OTCQB: PMCCF) is a London, Ontario-based mineral exploration company
  • Drone-based airborne magnetic survey now underway across the southern 26 square kilometres of the NELP property in Nevada
  • Survey uses 200-metre flight line spacings over a total distance of 372 kilometres; fall drilling campaign is planned to follow
  • Investors may be watching for drill target announcements and results from the combined north-south magnetic dataset

Southern NELP Survey Completes the Property-Wide Magnetic Picture

The current drone survey addresses the southern half of the NELP property, which had not yet received airborne magnetic coverage. The northern half was previously surveyed with airborne magnetics in 2024–25. Once complete, the two datasets will be combined to produce a full magnetic picture across the entire 53-square-kilometre property. Flight line spacings are set at 200 metres, and the total flight path covers 372 kilometres. Axiom Exploration Group Inc. of Saskatoon, Saskatchewan was selected as the drone technology and geophysical survey provider for the program.

Summer Survey Program Designed to Sharpen Fall Drill Targets at NELP

The airborne magnetics survey is the latest in a series of summer exploration activities at NELP. The company states that a surface transient electromagnetic (TEM) survey was completed earlier in the summer, and a soil geochemistry survey covering the southern half of the property on a 200-metre grid has also been completed. The release indicates these programs were designed to improve understanding of the orientation of lithium and critical minerals-bearing clay layers underlying most of the property and to assist in prioritising drill targets ahead of a planned fall drilling program.

NELP Property Overview and 100% Ownership Position

The North Elko Lithium Project is located in Elko County, Nevada, and covers 53 square kilometres. The company states the property is 100% owned with no royalties outstanding. Peloton's broader portfolio also includes a gold exploration project on the Carlin Trend in Nevada and a non-controlling interest in a copper porphyry project near Butte, Montana. Richard C. Capps, PhD, the company's Senior Geologist and a Director, is the qualified person under NI 43-101 who approved the technical information contained in this announcement.