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Metal Tiger: Pan Asia Metals begins drilling at Reung Kiet Lithium project

The firm said the programme had started with initial confirmatory drill holes, but deeper drilling was planned based on the initial findings

Lithium element
The drilling is aiming to intersect lepidolite pegmatite, a type of lithium bearing mineral

Metal Tiger PLC (LON:MTR) has said Pan Asia Metals Limited (PAM), in which it holds a 13.6% stake, has begun drilling at its Reung Kiet Lithium project (RKLP) in Thailand.

The natural resource investment firm said the programme had started with initial confirmatory drill holes orientated to intersect lepidolite pegmatite, a type of lithium bearing mineral, which was located around 20-30 metres below the floor of a historical pit mine at the project.

READ: Metal Tiger confirms Pan Asia Metals will start drilling at Thai lithium project in Q1

Depending on the findings, MTR said deeper drilling was planned to follow the confirmatory drill holes.

The RKLP is in the South East Asian tin and tungsten belt in Southern Thailand, an area that was a major tin mining district up until the 1980s.

“We strongly believe that the Reung Kiet Lithium Project has unique characteristics, with potentially one of the largest suites of lepidolite pegmatites in its global peer group”, said Michael McNeilly, chief executive of Metal Tiger.

“Through PAM’s drilling programme, we hope to realise the potential of the project and we look forward to updating shareholders as progress continues.”

MTR had said back in January that drilling was due to start in the first quarter of the year after PAM was awarded special prospecting licences by the Thai authorities that would last until 2024.

In mid-morning trading Thursday, Metal Tiger shares were steady at 1.4p.

--Adds share price--

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Price: 1.325 GBX

AIM:MTR
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Market Cap: £20.21 m
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