Pan Asia Metals Ltd (ASX:PAM) has received positive assay results from the 13 diamond core holes so far completed at the Bang I Tum and Reung Kiet lithium prospects in Southern Thailand.
The drilling intersected extensive pegmatite dyke-vein swarms containing lithium mineralisation associated with lepidolite (lithium mica).
Best results include:
11.3 metres at 0.74% lithium oxide from 19.2 metres;
10.7 metres at 0.98% from 81.8 metres;
13 metres at 0.72% from 49.5 metres;
4.2 metres at 1.30% from 31.9 metres;
6 metres at 1.08% from 38.5 metres; and
4.5 metres at 1.44% from 47.6 metres.
Moving to a double drilling shift
Pan Asia Metals managing director Paul Lock said: “We are pleased with the drilling results, the intersection widths and lithium grades at both prospects position the company well, warranting the required investment to drill out to a JORC Mineral Resource.
“We will be moving to a double drilling shift to expedite this process.
“Using the global peer group of lithium projects as a guide, lepidolite is the only style of lithium mineralisation with an extensive suite of by-products.
“Peer group studies indicate that these by-products can reduce the overall cost of lithium carbonate and or lithium hydroxide manufacturing, so much so that they can place lepidolite style projects at the bottom of the operating cost curve.
“This is Pan Asia Metal's objective, to identify and develop projects which have the potential to be placed at or near the bottom of the cost curve and which provide PAM with the option to move past the mine gate and value add.
“The drilling results at Reung Kiet suggest such goals are realistic.”
Bang I Tum and Reung Kiet lithium prospects
The Bang I Tum and Reung Kiet lithium prospects, part of the Reung Kiet Lithium Project (RKLP), are two of PAM’s key assets.
RKLP is a hard rock lithium project with demonstrated potential for lithium hosted in lepidolite/mica rich pegmatites chiefly composed of quartz, albite, muscovite and lepidolite, with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.
Tin and tantalum mineralisation also occur at the project in association with lithium as well as rubidium and cesium, all potentially valuable by-products.
The company is focusing on lepidolite as a source of lithium as peer group studies indicate that lithium carbonate and lithium hydroxide projects using lepidolite as their plant feedstock have the potential to be placed at the bottom of the cost curve.
Forward planning
Pan Asia is planning to drill holes both at Bang I Tum and Reung Kiet, to define mineral resources and exploration targets in the second half of 2021.