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 Project (NELP) in northeastern Nevada. The survey will cover approximately 26 square kilometres — the southern half of the 53-square-kilometre property — complementing a northern survey completed in 2024–25. The work is described as a direct precursor to drilling planned for this fall, making the programme a closely watched milestone for investors monitoring PMC's lithium exploration progress.

Key Points

  • Peloton Minerals Corporation (CSE: PMC; OTCQB: PMCCF) is a London, Ontario-based minerals explorer focused on lithium and critical minerals.
  • A drone-based airborne magnetic survey covering roughly 26 square kilometres is currently underway at the North Elko Lithium Project in northeastern Nevada.
  • The survey covers 372 kilometres of total flight distance at 200-metre line spacings; Axiom Exploration Group Inc. of Saskatoon, Saskatchewan is the contracted provider.
  • Investors will be watching for drill target prioritisation results and confirmation of fall drilling timelines at NELP.

Southern Half Survey Completes Magnetic Coverage of the 53-Square-Kilometre NELP Property

The current drone survey targets the southern half of NELP, a 53-square-kilometre property that Peloton states is 100% owned with no royalties outstanding. The northern half was surveyed with airborne magnetics in 2024–25, and the release states the two datasets will be combined to produce a complete magnetic picture of the entire property. Flight line spacings of 200 metres and a total flight distance of 372 kilometres are disclosed. Axiom Exploration Group Inc. of Saskatoon, Saskatchewan is performing the survey work.

Summer Survey Programme Designed to Sharpen Drill Targeting at North Elko

The drone magnetic survey forms part of a broader summer exploration programme at NELP. The release states a surface transient electromagnetic survey was completed earlier this summer, and a soil geochemistry survey — also on a 200-metre grid across the southern portion of the property — has likewise been completed. According to the announcement, these combined surveys are intended 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 campaign.

NI 43-101 Qualified Person Approves Technical Disclosure

The technical content of the release has been approved by Richard C. Capps, PhD, who serves as Senior Geologist and a Director of Peloton Minerals. Dr. Capps is identified as the qualified person under NI 43-101 responsible for the technical information disclosed. The company is a reporting issuer in good standing in British Columbia and Ontario. Beyond NELP, Peloton's portfolio includes a gold exploration project on the Carlin Trend in Nevada and a non-controlling interest in a copper porphyry project near Butte, Montana.