Copy of Reung Kiet Lithium Project – Drilling Results

Battery and critical metals explorer and developer Pan Asia Metals Limited (ASX: PAM) (‘PAM’ or ‘the Company’) is pleased to provide an update for four (4) more drill holes completed at the Reung Kiet lithium prospect. Results continue to support the geological model of extensive lithium mineralisation hosted in lepidolite rich pegmatite dykes-veins and adjacent metasediments. The mineralised zone is currently defined over a strike length of plus 1km and remains open along strike to the north and south, and at depth especially in the south.

HIGHLIGHTS

• Assay results for a further four (4) holes RKDD088 and RKDD092-094 completed at the Reung Kiet Lithium Project have been received.
  
• Step out drilling demonstrates extensions at depth from the existing Mineral Resource.
• Infill drilling supports geological interpretation of existing Mineral Resource.
• Assay results include:

• Drilling at Reung Kiet is now complete with further assays awaited for holes RKDD095-101 for incorporation into Mineral Resource update.

• Drilling has now shifted to the Bang I Tum lithium prospect 8km to the north of Reung Kiet to evaluate the Exploration Target and adjacent prospective zones.

Pan Asia Metals Managing Director said: “The infill results for RKDD094 are in line with expectations and RKDD092 confirms that the deposit remains open at depth to the south, which is good news. We await the assay results for holes RKDD095-101 after which the updated Mineral Resource will be completed by CSA Global. At Bang I Tum we are testing the Exploration Target and the extension zone as previously reported, where the non-selective rock chip and channel assays we reported were some of the highest received to date with 44 of 64 samples averaging 1.56% Li₂O and 12 samples greater than 2.00% Li₂O. We are targeting delivery of an inaugural Mineral Resource for Bang I Tum later this year.”

The Reung Kiet Lithium Project (RKLP) is one of PAM’s key assets. RKLP is a hard rock lithium project with lithium chiefly hosted in lepidolite/mica rich pegmatite dykes and veins. Previous open pit mining extracting tin and tantalum from the weathered pegmatites was conducted into the early 1970’s.

PAM’s objective has been to complete sufficient drilling with the aim of increasing and converting much of the existing Inferred Mineral Resource into the Indicated and Measured categories. The upgraded Mineral Resource can then be used as part of a Pre-feasibility study planned for later this year. PAM is focusing on sources of lithium that have the potential to be placed near the bottom of the cost curve. Lepidolite is one such source as market studies indicate that lithium carbonate and lithium hydroxide projects using lepidolite as their plant feedstock have the potential to be placed near the bottom of the cost curve. Geography plays a large part in this, regardless of the lithium source. Lepidolite has also been demonstrated to have a lower carbon emission intensity than other lithium sources.

Reung Kiet Prospect (RK)

The RK Prospect hosts a relatively large open cut tin mine that operated into the 1970’s. The old pit is about 500m long and up to 125m wide (see Figure 1). Mining of the weathered pegmatites extended up to 30m below surface, to the top of hard rock.

Pan Asia has identified a prospective zone over 1km long, reporting an Inferred Mineral Resource estimate as shown in Table 1. Please refer to PAM ASX announcement, “Inaugural Mineral Resource Estimate Reung Kiet Lithium” dated June 28, 2022.

Click here for the full ASX Release

This article includes content from Pan Asia Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.