Pan American Energy Engages EarthEx Geophysical To Conduct 2D Seismic Survey At The Horizon Lithium Project

The Company will utilize EarthEx Geophysical’s 2D seismic technology with the intent of defining major fault zones and improving lithium targeting for the planned Phase 3 drill program

CALGARY, Alberta, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (CSE: PNRG | OTCQB: PAANF | FRA: SS60) ("Pan American” or the "Company") is pleased to announce that it has engaged EarthEx Geophysical (“EarthEx”) to conduct a 2D seismic survey at its flagship project, the Horizon Lithium Project (“Horizon” or the “Project”) in Big Smoky Valley, Esmeralda County, Nevada. The seismic survey will be conducted with the support of the Company’s previously announced contractor partner, RESPEC Consulting Inc. (“RESPEC”), in support of the next stages of exploration and the planned Phase 3 drill program at the Project, which is being designed to expand the known mineral resources at the Project through step-out drilling to extend the deposit to the Northwest, South, East and West and at greater depths.

The Company has contracted EarthEx to undertake a Horizontal to Vertical Spectral Ratio (“HVSR”) survey using a Tromino passive seismic device at the Horizon Lithium Project. The survey is expected to comprise 86 line-km with a line spacing of 1,000 meters and station spacing of 250 meters. Local and regional faulting may have displaced and/or offset blocks of the targeted Siebert Formation in relation to each other, which would affect the thickness of overlaying alluvial gravels otherwise known as overburden. The HVSR survey is expected to help map overburden thickness and identify fault lines on the Project, allowing for the design of a more targeted and efficient Phase 3 drill program.

Jason Latkowcer, Chief Executive Officer, commented, "After a thorough evaluation of technologies and service providers that could support Phase 3 drill planning, EarthEx Geophysical Solutions was selected to utilize their HVSR 2D seismic survey. Working in collaboration with RESPEC, we expect this survey to play an instrumental role in our drill targeting. We do not intend to waste any time in advancing our flagship project in the United States.”

Once the geophysical survey is captured and interpreted, RESPEC will support the Company with results analysis, mapping, and drill planning. RESPEC will also support permitting the high-priority drill targets identified through the survey with the Bureau of Land Management (“BLM”), Tonopah Field Office, with the goal of advancing a logistically sound and fully permitted Phase 3 drilling plan in 2024.