Bang I Tum Lithium Prospect – Drill Results are Delivering

Battery and critical metals explorer and developer Pan Asia Metals Limited (ASX: PAM) (‘PAM’ or ‘the Company’) is pleased to provide an update for drill holes completed at the Bang I Tum prospect. Drilling results generally support the geological x grade model applied to the Exploration Target estimate with lithium mineralisation hosted in mica rich pegmatite dykes-veins and adjacent metasediments. The prospective zone is currently defined over a strike length of approximately 1.5km and remains open along strike and at depth on many sections.

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HIGHLIGHTS

• Assay results received for new holes at the Bang I Tum Lithium Prospect
  
• Results continue to demonstrate higher grade potential and are aligned with and support the recently reported Exploration Target
• Tin and Tantalum complementing many Lithium intersections, representing a strong by-product opportunity
• Drilling demonstrates good near surface grades associated within the dyke-vein swarm
• Drilling is ongoing with the aim of reporting a Mineral Resource later in 2023
• An additional drill rig has been mobilised to accelerate the program
• Assay results include:

Pan Asia Metals Managing Director, Paul Lock, said: “It’s good to see the assays start to flow for our Bang I Tum Lithium Prospect. These results broadly line up with the drill supported Exploration Target as recently announced. We are now on holes 30 and 31, and a third rig is being prepared for a start soon, which will see our drill program accelerate. Our aim is to report an inaugural Mineral Resource Estimate later this year, and then, like the Reung Kiet Lithium Prospect, follow through with infill and extensional drilling as required.”

The Reung Kiet Lithium Project (RKLP) inclusive of the Bang I Tum prospect is one of PAM’s key assets. RKLP is a hard rock lithium project with lithium hosted in lepidolite/mica rich pegmatites chiefly composed of quartz, albite, lepidolite and muscovite, with minor cassiterite and tantalite as well as other accessory minerals. Previous open pit mining extracting tin from the weathered pegmatites was conducted into the early 1970’s.

Bang I Tum Prospect

The Bang I Tum Lithium Prospect (Bang I Tum or BIT), is located about 8km north of the Reung Kiet Lithium Prospect in southern Thailand. At Bang I Tum, PAM has estimated a drill supported Exploration Target in the range of 16 to 25 Million tonnes at 0.40% to 0.70% Li2O (see PAM ASX announcement “Reung Kiet Lithium Project Exploration Target” dated 10 July, 2023). Grades were also estimated for Sn, Ta2O5, Rb, Cs and K, see Table 1.

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