The Conversation (0)
Battery and critical metals explorer and developer Pan Asia Metals Limited (ASX: PAM) (‘PAM’ or ‘the Company’) is pleased to provide an update for eight (8) 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 eight (8) holes RKDD095 to RKDD102 completed at the Reung Kiet Lithium Project in southern Thailand have been received.
- Step out drilling demonstrates extensions at depth from the existing Mineral Resource.
- Infill drilling supports the interpretation of the existing Mineral Resource and is expected to improve Resource confidence.
- Drilling at Reung Kiet is now complete with this new data to be incorporated into an updated Mineral Resource estimate, which is expected in June.
- Drilling is well-underway at the Bang I Tum lithium prospect 8km to the north of Reung Kiet to evaluate the Exploration Target of 8-14Mt @ 0.5-0.8% Li2O and adjacent prospective zones.1
- Assay results include:
1 The potential quantity and grade of the Exploration Target are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Pan Asia Metals Managing Director said: “These results conclude the infill and extensional drilling program for the moment and will allow for the completion of the Mineral Resource upgrade at the Reung Kiet Lithium Prospect, which is expected in June. Once the Mineral Resource upgrade has been completed then mining studies can commence for incorporation into the PFS and a Mining License application, which will be submitted this year. We are excited that drilling has commenced at the Bang I Tum prospect, which could potentially have a larger inventory and / or higher grades than the Reung Kiet Lithium Prospect based on the current Exploration Target. This all bodes well given our recently reported ore sorting, beneficiation and preliminary chemical testwork to produce lithium carbonate. We are looking forward to receiving assay results from the Bang I Tum drilling program.”
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 possibly some into the 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 lepidolite as a source of lithium 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. Lepidolite has also been demonstrated to have a lower carbon emission intensity than other lithium sources.
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.
PAM:AU
