Silverton Metals Corp (TSX-V:SVTN, OTCQB:SVTNF) said it has commenced an exploration program on its recently acquired Peny property near Snow Lake, Manitoba.
The October-November program will include an initial property evaluation, reconnaissance prospecting and geochemical sampling at the 3,400-hectare property. The budget for the field exploration program is C$173,500, the company said.
The goal is to confirm the potential mineralization of and geological environment for lithium-bearing pegmatites, the company said. Initial prospecting will be undertaken, as well as selective surface geochemical sampling and overall evaluation of the property.
READ: Silverton Metals closes acquisition of Snow Lake lithium property
"We are extremely pleased to begin our work program at the Peny property in Snow Lake, Manitoba, as we look towards identifying potential drill targets on site," CEO Lowell Kamin said in a statement. "It's an exciting time for our business as we begin to roll out our exploration strategy which will focus on clean energy metals."
Initially, a lithogeochemical survey will be completed over the eastern parts of the property, notably near the Crowduck Bay fault trend which is located over favorable host rocks that host pegmatite occurrences elsewhere along the trend.
Silverton also plans to acquire high-value remote sensing data sets, including synthetic aperture radar and hyperspectral data sets, to assist in targeting lithium bearing pegmatites. By combining modern remote sensing techniques using multispectral imaging and synthetic aperture radar to analyze topography, structure, alteration, vegetation and ground movement, complex anomalies covering large areas can be quickly and effectively identified, the company said.
Silverton Metals is a Canadian company focused on the exploration and development of quality lithium and silver projects. The company holds a 100% interest in the Peny property in Snow Lake, Manitoba in addition to three significant silver assets in Mexico — Pluton in Durango, Penasco Quemado in Sonora and La Frazada in Nayarit.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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