Pan Asia Metals (ASX:PAM) is maintaining discussions with geophysics and drilling service providers in hopes of starting drilling on the Pink lithium prospect, as part of its Tama Atacama Lithium Project in Chile.
The $27.68 million market capitalisation company says drilling will aim to identify lithium-bearing aquifers at depth. Upon identification, Pan Asia will undertake detailed drilling in anticipation of defining an initial resource later in 2024.
Pan Asia reports drilling is being planned after announcing today (12 January 2024) it has received the first series of exploration concessions at Tama Atacama.
The company notes the concessions cover a total area of 211km-square and bring the total area under granted exploration concessions to 286km-square.
Pan Asia says this is the first of a series of exploration concession grants, with a further 138km-square of concessions expected to be granted later in January and 240km-square in the first half of February. The remainder of concessions are expected to be received in April.
The concessions come after the company announced yesterday it is looking to define a Mineral Resource Estimate (MRE) at the BT Prospect in Thailand for March or April this year.
As reported by Mining.com.au, Pan Asia is hoping to define the MRE on the back of ongoing drilling at the prospect after receiving results from another 10 drillholes, which demonstrate multiple ‘high-grade’ lithium and tin intersections.
Pan Asia Metals is the only publicly listed battery materials company with lithium projects in Southeast Asia and South America.
The company’s assets sit in Thailand — the largest vehicle producer in Southeast Asia — and in the Atacama region of Chile.
Write to Adam Drought at Mining.com.au
Images: Pan Asia Metals
