Pan Asia Metals Ltd (ASX:PAM) has entered a trading halt awaiting an announcement around a drilling update from Bang I Tum, which is part of the company’s Reung Kiet Lithium Project in Southern Thailand.
The securities will remain in trading halt until the start of normal trading on Thursday, March 25, 2021, or when the announcement is released to the market.
Bang I Tum drilling
PAM has been drilling four priority one drill holes at Bang I Tum (BIT), which hosts a historic tin mine, with additional drilling contingent on positive results from these holes.
In early February, the company completed drilling the first-ever hole which intersected a pegmatite dyke swarm from 46.5 metres to 164.5 metres and the composite thickness of pegmatite approximately 25 metres from 86.3-135.3 metres.
Drilling has been on 100-150 metres spaced sections to a drill depth of around 180 metres along the pit length and extending southwest to Lepidolite Hill.
Reung Kiet prospect
Following the completion of drilling at BIT, PAM intends to relocate the rig to the nearby Reung Kiet prospect to conduct additional drilling that will target lepidolite rich pegmatites identified in previous trenching and mapping programs.
The company is confident that the project has the potential to be a very low-cost operation and as the only lithium project in South East Asia, Reung Kiet is strategically located close to the advanced industrial centres of Thailand and Malaysia and the massive battery markets of Asia.