Pan Asia Metals Ltd (ASX:PAM) has started a double shift of drilling to extend its operations to 24-hours at the Reung Kiet Lithium Project in southern Thailand.
According to the company double shifting will allow it to accelerate the additional infill and extensional drilling required to support the objective of estimating a JORC 2012-compliant mineral resource, which is anticipated later this year.
The second drilling crew arrived at Reung Kiet earlier this week after undergoing the required COVID-19 protocols and testing.
Drilling operations remain unaffected by COVID-19 in Thailand.
“Drilling results quite compelling”
Pan Asia Metals managing director Paul Lock said: “Our drilling results from Reung Kiet are quite compelling, the intersection widths and lithium grades at both prospects position the company well, warranting a second drilling shift and the required investment to drill out to a JORC mineral resource.
“Lepidolite is the only style of lithium mineralisation with an extensive suite of by-products which, based on peer group studies, have the potential to place lepidolite-style projects at the bottom of the operating and capex cost curves.”
Identify and develop projects
Lock said: “Pan Asia Metal's objective is 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 the option to move past the mine gate and value add.
“At the end of the day this is not just about tonnes and or grade, it’s also about cost of production, this is why we are focusing on lepidolite.”
Reung Kiet Project
Reung Kiet Lithium Project is a lepidolite-style lithium project about 70 kilometres northeast of Phuket in Phang Nga province in southern Thailand.
The company holds a 100% interest in three contiguous special prospecting licences (SPL) and one exclusive prospecting licence application covering about 40 square kilometres.
Regional map showing the location of the Reung Kiet Lithium Project.
About the company
Pan Asia Metals is a battery and critical metals explorer and developer focused on the identification and development of projects in Asia that have the potential to position the company as the producer of metal compounds and other value-added products that are in high demand in the region.
The company owns two tungsten projects and two lithium projects, with three of its projects in Thailand, fitting its strategy of developing downstream value-add opportunities in low-cost environments proximal to end market users.
Pan Asia is also undertaking a target generation program, which complements its existing project portfolio and through the program, it has built a pipeline of target opportunities at various stages of consideration.