Pan Asia’s Thai lithium and tungsten projects are looking the goods
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Pan Asia has wrapped up the June quarter with significant progress on its Reung Kiet lithium and Khao Soon tungsten projects in Thailand.
During the quarter, Pan Asia Metals (ASX:PAM) committed to accelerating work to define a JORC resource for Reung Kiet after diamond drilling intersected extensive pegmatite dyke-vein swarms up to 100m wide that contain lithium mineralisation associated with lepidolite.
Assays returned results such as 11.3m grading 0.74% lithium oxide from 19.2m, 10.7m at 0.98% lithium oxide and 4.2m at 1.3% lithium oxide.
The drill results support its previous identification of a prospective zone of at least 1km in length that is associated with extensive lithium values in trenching, rock-chips and soil anomalies.
The company also submitted an application for a 2sqkm exclusive prospecting licence at the southern end of the Reung Kiet licence area and directly south of the Reung Kiet prospect.
Additional drilling is underway and planned to define the western and eastern margins of the pegmatite swarm, as well as infill the current drill pattern.
Some extensional drilling at depth and along strike is also planned. Diamond tails will also be completed on holes RKDD006 to RKDD010 to test the revised geological model.
Reung Kiet is near Phuket within a known tin mining region, where exploration to date has identified a strike of more than 2.5km comprising two historic tin mines and several zones of lepidolite rich dyke swarms.
It includes a 500m long and 125m wide open cut tin mine where mining of weathered pegmatites extended up 25m below surface to the top of hard rock.
A resource estimate and exploration target are expected in the second half of 2021.
Pan Asia also received drill results for its Khao Soon tungsten project, which confirmed the presence of wide, high-grade near-surface tungsten mineralisation.
Notable results are 20.1m grading 0.74% tungsten from 48.6m including 5m at 1.1% tungsten from 51.9m, and 46.5m at 0.32% tungsten from 34.3m.
This is in line with Exploration Target models and confirms the shallow, dipping geometry and strong tungsten grades that start from surface.
It also highlighted that the Khao Soon mineralisation has the right shape and dimensions for open cut mining.
Further drilling is planned with a resource estimate expected in the second half of 2021.
The company noted that during the quarter, it considered several opportunities that meet its strategic objectives such as being located in Asia and complementing its existing projects.
Asian projects are preferred by the company as they provide access to modern industrial economies with globally competitive cost environments, and the fastest growing and most populous region on Earth.
It also seeks projects that have the potential to be positioned in the lowest or leading third of the cost curve and which position the company for downstream value-adding opportunities.
This article was developed in collaboration with Pan Asia Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.