Pan Asia Metals Limited (PAM), has today provided an update on the drilling program at the Khao Soon Tungsten Project (KSTP) and has reported that a drill rig has been mobilised to the Reung Kiet Lithium Project, both located in southern Thailand.
KSTP, located approximately 600 kilometres south of Bangkok, is one of PAM’s primary assets and a significant historical high-grade producer.
PAM outlines that modern exploration has discovered potentially world-class district-scale tungsten mineralisation across numerous prospects.
Today PAM announced that drilling of Priority One holes at the Than Pho West (TPW) Prospect have been finalised. Ten holes were drilled for a total of 828.2 metres.
The five new holes that were reported this morning (KSDD037-041) were drilled as infill or extension holes to previous drilling. All five holes intersected weathered breccia which contains abundant clay, quartz and metasediment clasts commonly associated with abundant iron.
The TPW prospect is defined by a large plus 1-kilometre long tungsten trioxide (WO3) soil anomaly supported by rock-chips and subsequent drilling.
Previous reconnaissance diamond drilling by the company intersected robust widths and grades associated with strong surface anomalies, from which Exploration Targets were estimated.
An Exploration Target of 4-8 million tonnes at 0.2-0.4 per cent WO3 has been estimated, however the potential quality and grade is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource. The company is therefore uncertain if further exploration will result in the estimation of a Mineral Resource.
However, the current drilling program at TPW is designed to test the Exploration Target and may allow a Mineral Resource to be estimated.
Pan Asia Metals Managing Director, Paul Lock, said the company continues to make good progress with the current drilling program.
“Assays are on their way to the laboratory and we expect to be reporting the first batch of results in the coming weeks,” Mr Lock said.
“We are also pleased to be moving the PAM exploration team and the drilling rig across to the Reung Kiet Lithium Project.”
“The robustness of demand growth in the electric vehicle market, with is nothing short of extraordinary, is now being reflected in the valuation of the lithium explorers, which have experienced a rapid increase in their valuations over the last couple of months,” he commented.
“The company expects to be drilling at the Reung Kiet Lithium Project next week and looks forward to reporting the initial drilling results.”
The full announcement can be found here.