Pan Asia Metals (ASX:PAM) believes it has unearthed a ‘large’ copper trend at the Rosario Project in Chile, after receiving initial results from soil sampling.
The latest results, combined with previous rock chip sampling results, indicate a 3.6km long and 150-250m wide open-ended copper target zone along the Rosario East Trend, which is part of the project.
Pan Asia, which has a market capitalisation of $12.12 million, says 2.6km of this trend lies within the company’s tenement holdings.
The analytical results from hand-held x-ray fluorescence (XRF) analysis of the remaining soil and stream sediment samples are expected to be reported within the next one to two weeks.
Pan Asia reports hand-held XRF analysis of the soil samples indicate assays grading up to 1,928 (0.19%) parts per million copper. Meanwhile, spot hand-held XRF analysis of four rock specimens returned average grades of 17%, 5.3%, 12.2% and 2.4% copper.
The company notes these results support previously reported visual results.
Managing Director Paul Lock says the initial results provide a “good indication” of Rosario’s potential.
“PAM is waiting on further soil, rock chip, and stream sediment assays,” he says.
“Geophysics results are due later this month and we are in discussions with drilling contractors.”
Rock chip samples are currently with ALS Laboratory in Chile. These results are expected in three to four weeks, while results from the induced polarisation survey are expected late this month.
Pan Asia is currently preparing for a first-phase reverse circulation drilling program, which is expected to begin before the end of 2024.
A total of 316 samples were collected, comprising 194 soil samples, 100 rock chip samples, and 23 stream sediment samples, as part of the geochemical exploration program at Rosario.
The aim of the program was to support and follow-up previous explorers’ work, as well as gain a better understanding of the project’s mineralisation potential.
The Rosario Project sits 10km to the north of Codelco’s El Salvador Copper Mine. Pan Asia says the project is interpreted as ‘highly prospective’ yet under-explored with Manto-style mineralisation.
Manto-style mineralisation occurs throughout the northern parts of Chile and is responsible for historical and current copper production.
Pan Asia reports the largest examples of this deposit style have historic production and mineral resources of more than 200 million tonnes @ 1% copper, with by-product silver.
Pan Asia Metals is a lithium and copper-focused explorer and developer with projects in South-East Asia and South America.
Write to Aaliyah Rogan at Mining.com.au
Images: Pan Asia Metals
