Pan Asia Metals (ASX:PAM) reports it has identified a new 800m x 200m target zone following various exploration activities at the Bang I Tum prospect, as part of its 100% owned Reung Kiet Lithium Project in Thailand.
The results, generated by 64 rock-chip samples and 129 associated soil samples, indicate that the new exploration target is about twice as large as the footprint of the current exploration target and is host to numerous lepidolite rich pegmatite dykes and veins.
The Asian focused battery and critical metals explorer reports the new zone is located immediately west and north of the previously defined and drill supported exploration target, which currently boasts 8 to 14 million tonnes at a grade ranging between 0.5% to 0.8% lithium (Li2O) and delivers ‘significant’ exploration expansion potential for the prospect.
Pan Asia Metals’ upcoming drilling program to test the current exploration target is now expected to be expanded to test this newly identified zone, with drilling scheduled to commence in the next 2 months.
Speaking on the results, Pan Asia Metals Managing Director, Paul Lock said: “Official assays confirm the robustness of this newly identified prospective zone at Bang I Tum, which is twice the area of that which defines the current exploration target 8-14 million tonnes at 0.5% to 0.8% Li2O, which complements PAM’s Inferred Mineral Resource of 10.4 million tonnes at 0.44% Li2O for 113,000 tonnes LCE at the Reung Kiet Lithium prospect about 8km to the southwest. PAM’s initial aim is to define an ore reserve sufficient to produce 10,000t LCE for a minimum [of] 10 years, we are progressing towards this and with a successful drilling program at Bang I Tum we could surpass it.
“PAM’s initial aim is to define an ore reserve sufficient to produce 10,000t LCE for a minimum [of] 10 years, we are progressing towards this and with a successful drilling program at Bang I Tum we could surpass it”
Our objective is to [add] value [to] what we mine, to this end there is a lot of activity in Thailand and the region, Mercedes has confirmed that it will produce the EQS EV in Thailand and Eve Energy recently announced plans to produce the 21700-type cylindrical batteries in Malaysia to support the local and Southeast Asian electric two-wheeler and power tool manufacturers. Being the only lithium project developer in Southeast Asia, PAM is very well placed to participate in the downstream lithium ion battery supply chain.”
Pan Asia Metals also notes that ‘high-grade’ Li2O grades have been reported in the rock-chip samples, with 44 of the 64 samples returning 0.30% Li2O, 35 of the samples returning grades of 1.00% Li2O and 12 samples returning 2.00% Li2O with a maximum grade of 2.62% Li2O.
In addition, soil sampling conducted on the east-west lines has returned Li2O values of 500ppm up to a maximum of 9,602ppm (0.96%) Li2O from a total of 129 samples.
Pan Asia Metals is a battery and critical metals explorer and developer focused on the identification and development of projects that have the potential to position the company to produce metal compounds and other products in high demand. The Reung Kiet project is located about 70km northeast of the city of Phuket in southern Thailand’s Phang Nga Province, comprising three contiguous special prospecting licences and one exclusive prospecting licence covering a total land area of 40km-square, with Pan Asia Metals currently holding 100% interest in all associated tenements.
The project currently boasts a Mineral Resource Estimate (JORC 2012) of 10.4Mt at 0.44% Li2O and represents the only lithium exploration tenement in Southeast Asia.
With results from rock-chip and soil sampling activities now received, Pan Asia Metals announces it has moved forward with plans to conduct a metallurgical test work program to evaluate potential metallurgical performance of the mineralisation hosted at the Bang I Tum prospect.
Images: Pan Asia Metals Ltd & iStock