Sydney, Australia – 12 August 2024 | Pan Asia Metals Limited (ASX:PAM) ("PAM" or "the Company") is pleased to report significant developments at its KT East Lithium Prospect, which is part of the larger RK Lithium Project in Southern Thailand. The latest soil and rock geochemistry results have expanded the anomalous zone by 2.8 times, thus, reinforcing the potential for a substantial lithium resource in the highly-prospective development area.
Highlights:
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Expansion of Anomalous Zone: Recent soil sampling has increased the anomalous zone to 2.1 km in length and 1.0 km in width, which is a 2.8x expansion from previously reported figures. The expansion enhances previously identified rock-chip defined trends and the presence of mapped pegmatites.
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Pegmatite Characteristics: The pegmatite dykes in the area (several between 7-10 metres wide and up to 20 metres wide), are stacked and dip moderately. This suggests that the KT East Prospect is likely amenable to open-pit mining.
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Larger Footprint for Prospect: The KT East prospect now has a larger footprint than the combined RK and BT Lithium Prospects.
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Ongoing Exploration: Extensional sampling, detailed mapping, and rock-chip sampling around the Main Zone are still ongoing, and preliminary drill sites have been identified. Drilling is scheduled to commence later in the second half of 2024.
Paul Lock, Managing Director of Pan Asia Metals, commented: “These results cement previous reports that the KT Lithium Prospect is extensive, and confirm that the pegmatite field is approximately 2.1km in length and 1.0km wide, 2.8x that previously reported with most of this captured in the ‘Main Zone’. PAM’s field team will continue with the grid-based soil and rock-chip sampling and geological mapping program, chasing down several areas which remain open to the northwest of the Main Zone and where there is a considerable area of historical tin mine workings. As previously stated, there are several walk-up drill targets and the team will continue to investigate other drill sites, with drilling expected to start later this year. KT East is proving to be a substantial addition to the RK Lithium Project, with the KT East Prospect larger than the RK and BT Prospects combined.”
“KT East has the potential to add substantial LCE tonnes to the RK Lithium Project. Although the underlying lithium price is off, we are looking at the bigger picture as battery demand continues on its growth path and PAM is in a low cost environment. Therefore, we expect that the RK Lithium Project, like its Chinese lepidolite counterparts, will out-compete many of the hard rock lithium projects on the basis of the cost environment, which applies to both capital and operating costs, and proximity to markets for both inputs and end products. Limestone is one such product, with Australian lithium processors importing their limestone requirements from Thailand. The field results being reported herein will continue to feed into discussions with potential strategic partners.”
Next Steps:
PAM’s exploration field team will continue to conduct grid-based soil and rock-chip sampling and geological mapping programs, so that it can understand several areas which remain open to the northwest of the Main Zone (where there is a considerable area of historical tin mine workings).
The Company is also considering a trenching program which may also act as a point of access to the site in preparation for drilling that is planned for later this year. Additional reconnaissance sampling is planned within the licensed area as well, especially at KT East NW.
Paul Lock
Managing Director
Pan Asia Metals Limited
+61 408 631 497
paul.lock@panasiametals.com
Jane Morgan
Investor Relations
Jane Morgan Management
+61 405 555 618
jm@janemorganmanagement.com.au
About us:
About Pan Asia Metals Limited (ASX: PAM):
Pan Asia Metals Limited is an ASX listed battery metals company with lithium and copper exploration and development projects located in South-East Asia and South America. PAM has agreements with key battery and chemical producers in the Asian region to produce advanced battery chemicals.
PAM’s Asian assets are strategically located in Thailand – the largest ICE and NEV producer in the region. PAM’s lithium project is located on the coast in Southern Thailand with all infrastructure needs satisfied to facilitate movement of lithium concentrates into Thailand’s Eastern Economic Corridor, an industrial corridor with over 20 vehicle manufactures and ancillary first and second tier suppliers which will position PAM to produce lithium chemicals cost competitively to supply the region’s soaring demand for battery minerals. PAM’s South American assets are strategically located in Chile - the lowest cost and largest lithium chemical and copper producing country in the world. PAM has one of South America's largest and most strategically positioned lithium brine projects which is situated at an altitude of 800-1100m with all necessary transport and energy infrastructure. The project is north of Chile’s lithium chemical refining hub in Antofagasta, with access by rail and road, and only 75km from Iquique, a well-equipped coastal city with a population of 200,000, a deep water bulk and container port. PAM’s copper project is one of the most strategically placed copper projects in South America, situated 10km to the north of Codelco’s El Salvadoe Copper Mine and 100km from Enami’s El Salado oxide and sulphide copper ore processing plant (actual road distance). Codelco’s Porterillos Copper Smelter is also located 40km south of the El Salvadore mine (actual road distance).
PAM is focused on securing battery metals projects which have the potential to position PAM as a low cost producer of the metals essential for electrification – lithium and copper. PAM aims to produce high-value products with a minimal carbon footprint. PAM is also a respected local company and local employer.
To learn more, please visit: www.panasiametals.com
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au