Pan American Energy Begins Core Drilling at the Horizon Lithium Project

Rhea-AI Summary

Pan American Energy Corp. (OTC PINK: PAANF) has commenced its Phase 1 drilling program at the Horizon Lithium Project in Nevada. This exploration initiative focuses on eleven priority drill holes out of a total of twenty-two planned. The drilling started on February 12, 2023, with the initial hole HL010 already in progress. Partnering with KB Drilling and RESPEC Consulting, the company has established a core logging facility in Tonopah. CEO Jason Latkowcer expressed enthusiasm over the initial setup and drilling progress, highlighting the team's readiness to ensure a successful operation.

Positive

• Phase 1 drilling program at Horizon Lithium Project has commenced successfully.
• Eleven priority drill holes have been identified, providing a clear focus for exploration.
• Collaboration with seasoned partners KB Drilling and RESPEC Consulting enhances operational efficiency.

Negative

• None.

The Company has outlined eleven priority drill holes for its Phase 1 drill program

CALGARY, Alberta, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS6) is pleased to announce the Company and its partners, KB Drilling (“KB”) and RESPEC Consulting Inc. (“RESPEC”) has begun drilling at the Phase 1 exploration drill program at its 17,334 acres Horizon Lithium Project (“Horizon”) located in Esmeralda County that is 7.4 miles west from Tonopah, Nevada. The Company will focus immediate efforts on eleven (11) priority drill holes of the fully permitted twenty-two (22) core drill hole program. The Company has detailed an execution plan sequence for the eleven (11) priority drill holes (Table 1).

Figure 1 – Drill Rig on Site at the Horizon Lithium Project

RESPEC has setup a core shed area in Tonopah for the Company where core logging, photographs, sample selection, core cutting, sampling bagging, and sample shipment prop will take place. KB safely mobilized equipment and personnel from Carson City to Tonopah and had the rig and associated equipment set-up at drill pad HL010 mid-morning on February 12^th. Drilling commenced at HL010 the evening of February 12^th.

Jason Latkowcer, Chief Executive Officer comments, “We were thrilled to receive our first daily drilling report from RESPEC over the weekend where staging and setup of the drill program were confirmed to be done safely and with tactical professionalism. On February 12^th, our field operators confirmed drilling kicked off at our first priority drill hole – HL010. We’re excited to get started on this maiden drill program and believe we have the best team to get it done safely and successfully.”

Table 1 - Drilling Target Sequence

1	HL010
2	HL009
3	HL022
4	HL021
5	HL008
6	HL018
7	HL020
8	HL007
9	HL006
10	HL005
11	HL016

Figure 2 - Phase 1 Drill Holes

About Pan American Energy Corp.

Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FSE: SS6) is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

The Company’s maiden asset is the 100% owned Green Energy Lithium Project, located in the Paradox Basin, Utah, USA. The Company has also entered a property option agreement with Horizon Lithium LLC with the right to acquire 100% interest in the Horizon Lithium Project, located within the Clayton Valley – Tonopah Lithium Belt, Nevada, USA.

The Company executed an option agreement in Canada with Magabra Resources with the right to acquire up to 90% interest in the drill-ready Big Mack Lithium Project, 80 km north of Kenora, Ontario.

On Behalf of the Board of Directors
Jason Latkowcer
CEO & Director
Contact
Phone: (587) 885-5970
Email: info@panam-energy.com

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Company’s planned drilling and sampling program, including the date upon which the Company expects to announce its phase one plans, the amount of drilling to be contained in such program and the proposed location of the exploration undertaken as part of the program, and the potential commercialization of the Property.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that: the Company will be successful in commercializing the Property and that the Company will undertake its planned drilling and sampling program on the timeline and parameters that are currently expected. Such assumptions and factors are based on information currently available to the Company.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a Project, and that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including the establishment of a commercial mining operation. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The CSE has neither approved nor disapproved the information contained herein.

 

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/920be695-51f1-42b2-a0d5-51203d97433e
https://www.globenewswire.com/NewsRoom/AttachmentNg/a6a6be2a-380e-427d-be81-fee092aa8233

 

FAQ

What is the current status of Pan American Energy Corp's drilling program at Horizon Lithium Project?

Pan American Energy Corp has commenced its Phase 1 drilling program, focusing on eleven priority drill holes.

When did drilling start at the Horizon Lithium Project?

Drilling began on February 12, 2023, with the first hole HL010 already in progress.

Who are the partners involved in the Horizon Lithium Project drill program?

The partners involved are KB Drilling and RESPEC Consulting.

What is the total number of drill holes planned for the Horizon Lithium Project?

A total of twenty-two drill holes are planned for the project, with eleven classified as priority.

What is Pan American Energy Corp's stock symbol?

The stock symbol for Pan American Energy Corp is PAANF.