Pan Asia Metals (ASX:PAM) is looking to define a Mineral Resource Estimate (MRE) for its BT lithium prospect, as part of its RK Lithium Project in Thailand, for March or April this year.
The $27.68 million market capitalisation company says it is looking to deliver the MRE on the back of ongoing drilling at the prospect.
Pan Asia reports today (11 January) it has received results for holes BTDD026 to 036 which the company says demonstrate multiple ‘high-grade’ lithium and tin intersections.
The company notes results confirm the presence of a greater than 1km long and up to 300m wide pegmatite dyke and vein swarm, as well as extensions of a new lithium pegmatite zone to the west and south of the main zone.
According to Pan Asia results also support the geological model and exploration target at the prospect and indicate mineralisation remains open in multiple directions.
Managing Director Paul Lock says further work needs to be completed on the western and southern extensions of the main zone ahead of the inaugural MRE, which he believes will complement the company’s Reung Kiet prospect well.
“We have a main pegmatite zone which is rich in lithium and a smaller zone which is rich in tin, with an overlapping lithium-tin zone to the south of the old tin pit.
Further work needs to be completed on the western and southern extensions to this main pegmatite zone and then we should be in a position to deliver an inaugural Mineral Resource Estimate.
“Overall our progress is good and the BT Lithium Prospect will complement the RK Lithium Prospect well‘
Overall our progress is good and the BT Lithium Prospect will complement the RK Lithium Prospect well.”
Assays for drillholes BTDD037 to 041 are currently outstanding.
Meanwhile, the company also notes strategic partner discussions are progressing ‘very well’. Pan Asia is currently in discussions with its Memorandum of Understanding (MoU) partner IRPC and one of China’s largest lepidolite mining and processing companies.
Pan Asia Metals represents 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 on the continent — and in the Atacama region of Chile.
Write to Adam Drought at Mining.com.au
Images: Pan Asia Metals
