PAN Asia Metals is undertaking a drill program at the Reung Kiet Lithium Project and Khao Soon Tungsten Project. The program is being carried out in preparation for an Initial Public Offering of the company in quarter two of 2018.
|Pan Asia Metals two projects are in the Southern Thai part of the South East Asian granite belt.|
The company is also raising US$1.5 million to advance the two projects ahead of the IPO.
Pan Asia has a preference for opportunities which will allow it to participate in downstream activities such as metals processing and value adding, and believes the two projects offer this. The company is also interested in metals exploration and development opportunities which are considerate to the local environment, add to development of the host country and contribute to technologies which help create a better world.
Reung Kiet is about 50km northeast of Phuket. The area of investigation was a major tin mining district up until the 1980s. The target mineral is lepidolite, one of several lithium containing micas. This was identified at Pan Asia’s prospects in the late 1960s, during a joint Thai/British geological survey during which they identified lepidolite in pegmatites then being mined for tin.
Pan Asia started orientation and reconnaissance soil and rock chip sampling, and mapping programs in early 2016, which delivered consistently strong results. The combined strike based on pits, exposures and rock chips, is about 2.5km, and average rock chip grades of 1.55% Li2O.
The project is well positioned to take advantage of downstream development opportunities and Pan Asia aims to be positioned to build lithium carbonate and lithium hydroxide manufacturing capacity.
Khao Soon is about 600km south of Bangkok and about 100km east of Phuket. The area of investigation was a major tungsten mine for about 10 years to 1980 and it is estimated that approximately 500,000 tonnes was mined at an average head grade of 2.2%.
The target mineral is ferberite, a subset of wolframite, which is preferred for processing as it generally has higher recoveries and processing can be achieved using simple gravity and magnetic techniques.