Pan Asia Metals Ltd (ASX:PAM) has completed drilling priority one holes at Than Pho West (TPW) prospect of Khao Soon Tungsten Project (KSTP) in southern Thailand and has mobilised the rig to Reung Kiet Lithium Project (RKLP) to the west.
The company has drilled 10 holes for a total 828.2 metres at TPW and all holes have intersected breccia zones in line with the geological model.
Shallow dipping geometry has been confirmed, effectively commencing at surface with the mineralisation having shape and dimensions amenable to potential open cut mining.
The company uses a Delta Olympus Premium hhXRF device to make preliminary assessments. This utilises an X-ray fluorescence tube to take relatively rapid (30 seconds) measurements over an area of about 20 square millimetres.
At KSTP, the company has discovered potentially world-class, district-scale tungsten mineralisation across numerous prospects and the drilling was aimed at test the exploration target to estimate inferred resources.
“Making good progress”
PAM managing director Paul Lock said: “The company continues to make good progress with the current drilling program starting before PAM listed on the ASX on October 8, 2020 and continuing uninterrupted until completion of the program earlier this week, setting aside maintenance days and a short Christmas Break.
“Assays are on their way to the laboratory and we expect to be reporting the first batch of results in the coming weeks.”
TPW prospect is defined by a large plus-1-kilometre-long tungsten trioxide (WO3) soil anomaly supported by rock chips and subsequent drilling.
An exploration target of 4-8 million tonnes at 0.2-0.4% WO3 was estimated and there has been insufficient exploration to estimate a mineral resource.
The drilling program at TPW was designed to test the exploration target and has been undertaken at sufficient spacing to enable estimation of a mineral resource, subject to the success of the program and other factors.
Current results support previous work, confirming a relatively thick, shallow dipping breccia zone, which remains open at depth on all sections and is yet to be closed off along strike.
Drilling at TPW has now been paused as the company awaits assay results from the laboratory.
Reung Kiet Lithium Project
PAM is relocating the drill rig to the Reung Kiet Lithium Project with drilling planned at the Bang I Tum and Reung Kiet prospects, where previous work by PAM identified high-priority lithium drill targets.
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, which 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.
“The company expects to be drilling at Reung Kiet Lithium Project next week and looks forward to reporting initial drilling results.”
As laboratory results from the drilling at Khao Soon are received they will be used to enhance geological interpretations and grade modelling with a view to updating the exploration target.
Ultimately, PAM aims to report an inaugural inferred mineral resource estimate, subject to ongoing success.
The planned drilling program at the Minter Tungsten Project in NSW still awaits the ratification of a land transfer relevant to the Land Access and Compensation Agreement.