Pan Asia Metals Commences Fieldwork at Rosario Copper Project in Chile, Confirming Strong Visual Results

Jane Morgan Management

Pan Asia Metals Commences Fieldwork at Rosario Copper Project in Chile, Confirming Strong Visual Results

Sydney, Australia – 30 September 2024 | Pan Asia Metals Limited (ASX:PAM) (“Pan Asia Metals” or “the Company”) is pleased to announce the commencement of its geochemical exploration program at the Rosario Copper Project in Chile. Early visual observations from the fieldwork support the results of previous exploration, with many samples containing visible malachite, a secondary copper mineral.

Highlights:

• Geochemical Exploration Underway: Pan Asia Metals has begun a systematic geochemical exploration program at its Rosario Copper Project, focusing on the Rosario East Trend (RET).

• Strong Visuals: Early samples have shown strong visual evidence of copper mineralisation, including the presence of malachite, a secondary copper mineral, providing early validation of previous exploration results.

• Sampling Program: The program has collected 193 soil samples and 32 rock chip samples to date. These samples will undergo laboratory analysis, with results expected in mid to late October.

• IP Survey: The Company is also undertaking an Induced Polarisation (IP) survey, the first of its kind at the project, to provide further insight into the scale of the Rosario copper system.

• Future Drilling Plans: Pan Asia Metals is preparing a first-phase 2,500m reverse circulation (RC) drilling program, anticipated to begin in November 2024.

Paul Lock, Managing Director of Pan Asia Metals, stated: “In conjunction with the first ever IP survey at Rosario, we have started a systematic geochemical survey to confirm previous exploration results and determine the potential size of Rosario. Exploration results to date support previous work with strong visuals and many samples containing visible Malachite, a secondary copper mineral. The presence of small scale historical mines, and the proximity of the El Salvador copper mine, provide a high level of confidence in the project.” 

Exploration Update:

• The geochemical program aims to verify the work of previous explorers and assess the potential scale of the Rosario East Trend (RET). Soil sampling is particularly important in areas with poor outcrop, while rock chip sampling focuses on exposed outcrops and prospecting pits.

• A total of 193 soil samples and 32 rock chip samples have been collected to date along the RET. Previous rock chip sampling in the area has returned copper grades of 1-5%.

For further information, please contact:

Paul Lock
Managing Director
Pan Asia Metals Limited
paul.lock@panasiametals.com

Investor Relations
Dayna Louca
Jane Morgan Management
dayna@janemorganmanagement.com.au

ABOUT PAN ASIA METALS LIMITED (ASX:PAM) 

Pan Asia Metals Limited is an ASX listed battery metals company with lithium and copper exploration and development projects located in South-East Asia and South America. PAM has agreements with key battery and chemical producers in the Asian region to produce advanced battery chemicals. 

PAM’s Asian assets are strategically located in Thailand – the largest ICE and NEV producer in the region. PAM’s lithium project is located on the coast in Southern Thailand with all infrastructure needs satisfied to facilitate movement of lithium concentrates into Thailand’s Eastern Economic Corridor, an industrial corridor with over 20 vehicle manufactures and ancillary first and second tier suppliers which will position PAM to produce lithium chemicals cost competitively to supply the region’s soaring demand for battery minerals. PAM’s South American assets are strategically located in Chile - the lowest cost and largest lithium chemical and copper producing country in the world. PAM has one of South America's largest and most strategically positioned lithium brine projects which is situated at an altitude of 800-1100m with all necessary transport and energy infrastructure. The project is north of Chile’s lithium chemical refining hub in Antofagasta, with access by rail and road, and only 75km from Iquique, a well-equipped coastal city with a population of 200,000, a deep water bulk and container port. PAM’s copper project is one of the most strategically placed copper projects in South America, situated 10km to the north of Codelco’s El Salvadoe Copper Mine and 100km from Enami’s El Salado oxide and sulphide copper ore processing plant (actual road distance). Codelco’s Porterillos Copper Smelter is also located 40km south of the El Salvadore mine (actual road distance). 

PAM is focused on securing battery metals projects which have the potential to position PAM as a low cost producer of the metals essential for electrification – lithium and copper. PAM aims to produce high-value products with a minimal carbon footprint. PAM is also a respected local company and local employer. 

To learn more, please visit: www.panasiametals.com

Stay up to date with the latest news by connecting with PAM on LinkedIn and Twitter. 

Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au