Pan Asia Metals Ltd (ASX:PAM) has received further positive assay results from three more holes completed at the Reung Kiet Lithium Project (RKLP) in Southern Thailand.
The company’s drilling has defined extensive pegmatite dyke-vein swarms containing lithium mineralisation associated with lepidolite.
The drilling results at RKLP are highly encouraging with significant assay results include:
- 8.5 metres at 0.51% lithium oxide from 137.7 metres;
- 10.2 metres at 0.41% from 159.9 metres;
- 11.8 metres at 0.84% from 133.2 metres, including 5.1 metres at 1.11% from 135.9 metres; and
- 18 metres at 0.62% from 127.0 metres, including, 9.3 metres at 0.86% from 127 metres.
Continue to deliver positive results
Pan Asia managing director Paul Lock said: “Our drilling activities at Reung Kiet continues to deliver positive results.
“As reported in mid-July, PAM moved to double shift to accelerate the infill and extensional drilling required to estimate a Mineral Resource in accordance with the JORC Code 2012 - which we anticipate later this year.
“We have also started preparatory work for a Scoping Study, which we are aiming to complete soon after reporting Mineral Resources.
“The lithium market is buoyant, and PAM is looking to add to its lithium exploration portfolio with several target exploration blocks identified.
“Our 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.
“The drilling results at Reung Kiet suggest such goals are realistic.”
Identified lithium indicator elements
Pan Asia Metals has now completed 20 diamond core drill holes at RKLP for a total of 3,115 metres.
In addition, the company has completed a closed-spaced spot hhXRF analysis of holes RKDD016-022.
This has identified lithium indicator elements rubidium (Rb), caesium (Cs) and manganese (Mn) occurring in close association with observed pegmatites and varying concentrations of lepidolite.
Potentially valuable by-products
The dyke-vein swarm is up to 100 metres wide, contains numerous pegmatites up to 13 metres wide.
Notably, the mineralised trend is about 1 kilometre long, remains open to the north and south.
The lithium oxide grades intersected are in line with other lithium mica projects in the global peer group.
Tin and tantalum mineralisation occur in association with lithium as well as rubidium and caesium, all potentially valuable by-products.
Next steps
Pan Asia’s management moved to a double shift (24hr/day drilling) in mid-July to accelerate the program to estimate a mineral resource in accordance with the JORC Code 2012 later this year.
Drilling is ongoing with holes RKDD016-025 now completed and assay results for RKDD016-022 are expected in about three weeks.
Additionally, assay results for another six holes (RKDD016-022) are expected within one month.
- Ephrems Joseph