Pan American Identifies Abundant Lithium Reservoirs in Nevada
- 21-Nov-2023 5:48 PM
- Journalist: Motoki Sasaki
Pan American Energy, an exploration-stage entity, marked a significant milestone on Monday with the revelation of the inaugural mineral resource estimate (MRE) for its Horizon lithium project situated in the expansive Big Smoky Valley of Nevada. Traded on the Canadian Securities Exchange (CSE), Pan American heralded Horizon as one of the most substantial lithium deposits identified within the United States. The estimated indicated mineral resource for Horizon tallies an impressive 372.85 million tonnes with an average grade of 669 ppm, translating to an equivalent of 1.33 million tonnes of lithium carbonate (LCE). In addition, there are inferred resources of 2.45 million tonnes boasting an average grade of 680 ppm, resulting in a cumulative 8.88 million tonnes of LCE.
Having secured the project rights through a property option agreement, Pan American Energy is actively immersed in the formulation of a preliminary economic assessment for the Horizon endeavor. The company envisions the completion of this comprehensive study by the latter part of the coming year. Significantly, the Horizon project finds itself in close proximity to the Tonopah Flats project of American Battery Technology, recognized for its MRE of 15.8 million tonnes of inferred LCE mineral resources.
CEO Jason Latkowcer expressed his commendation for the achievements of the past year, underscoring the expeditious progress realized by the team in meeting operational objectives. Pan American's diligent drilling endeavors within a relatively brief timeframe resulted in the discovery of a substantial cluster of lithium mineralization. This noteworthy find culminated in the unveiling of the inaugural MRE for the Horizon project, a development deemed one of the most significant lithium deposits in the United States.
Latkowcer outlined Pan American's strategic execution plan, placing a premium on the rapid advancement of the project through engineering processes. Simultaneously, the company is dedicated to the expansion and enhancement of mineral resources at the Horizon site. Looking forward, Pan American Energy remains receptive to the exploration of potential acquisition targets in the vicinity, a strategic move aimed at augmenting its overall land package.
The Horizon lithium project's auspicious mineral resource estimate serves as a testament to Pan American Energy's commitment to navigating the intricacies of exploration and development with efficiency and foresight. As the company advances in the formulation of the preliminary economic assessment, the significance of the Horizon project in shaping the broader lithium landscape becomes increasingly apparent. Pan American's strategic approach, coupled with its openness to exploring additional opportunities in the region, firmly positions the company as a pivotal player in the dynamic and evolving lithium sector, particularly within the lithium-rich expanse of Nevada.