Pan Asia Metals (ASX:PAM) has secured a second series of exploration concessions at the Dolores North and South lithium prospects, which are north of the Pink Lithium prospect and part of the Tama Atacama Lithium Project in Chile.
The $25.17 million market capitalisation company says the concessions cover an additional 100km-square and fall within option agreement one, bringing the total area under granted exploration concessions to 386km-square.
The recently granted concessions follow the approval of a first set of exploration concessions at Tama Atacama, as reported by Mining.com.au earlier this month.
Meanwhile, a further net total of 205km-square of exploration concessions have been granted at the Powerline Lithium prospect, which is south of the Pink prospect.
Pan Asia states the Powerline concessions are part of the 400km-square target lithium brine and clay blocks comprising the southern half of Ramatidas and the Powerline blocks, which remain under a memorandum of understanding and under review.
The recently granted concessions will expire in 2027 and 2028 following modifications to the Chilean Mining Code.
The company notes it is in discussions with geophysics and drilling service providers to begin drilling on the granted licence areas at Pink early this year in hopes of identifying lithium-bearing aquifers at depth.
Additional drilling will be undertaken upon identification in anticipation of defining an initial resource later in 2024.
Pan Asia Metals is a battery and critical metals explorer and developer with lithium projects in Southeast Asia and South America.
The company’s Tama Atacama Project is one of South America’s largest and most strategically positioned lithium brine projects.
Write to Adam Drought at Mining.com.au
Images: Pan Asia Metals
