Pan Asia Metals secures additional lithium brine exploration concessions at Tama Atacama

Pan Asia Metals secures 100km2 of exploration concessions at its Tama Atacama lithium project
Another 205km2 in exploration concessions granted at the Powerline prospect
Plans to start drilling to identify lithium-bearing aquifers at depth

Special Report: Pan Asia Metals has been granted the second series of exploration concessions that cover an additional 100km2 of ground at its Tama Atacama lithium project in Chile.

The Tama Atacama project ranks as one of the largest lithium brine projects in South America, covering some 13% of the highly prized Pampa del Tamarugal Basin in Chile’s Atacama Desert.

Surface assays have already returned high-grade lithium topping up at 2,200ppm.

Pan Asia Metals’ (ASX:PAM) project also has several other things going for it, including being located at lower elevations (altitude of 800-1,100m), which offers water-replacement options such as the use of seawater to replace extracted brine and solve water balance issues.

Additionally, it benefits from access to major highway, ports, airports and solar power.

To top it off, changes to Chile’s mining code have replaced the previous two-year term with potential for a two-year extension exploration concession with new four-year concessions with the possibility to extend for a further four years.

Granted exploration concessions at the Tama Atacama lithium brine project. Pic suppled (PAM)

More exploration concessions granted

The award of the exploration concessions covering ~100km2 of ground at the Dolores North and Dolores South lithium prospects, which are north of the Pink lithium prospect.

These take the total area under granted exploration concessions up to ~386km2.

PAM notes that the grant of exploration concessions in Chile is a process with a high degree of confidence as it is a judicial process. Further concessions are expected to be granted in February, March and April.

Separately, a further 205km2 of exploration concessions have been granted at the Powerline prospect, which is south of the Pink prospect.

These are part of the ~400km2 target lithium brine and clay blocks comprising the southern half of Ramatidas and the Powerline blocks, which remain under memorandum of understanding and are under review and consideration.

Next steps

PAM is in talks with geophysics and drilling service providers, with plans to begin drilling on granted licence areas at the Pink project early this year.

Drilling is aimed at identifying lithium-bearing aquifers at depth.

Upon identification, the company will conduct detailed drilling in anticipation of defining an initial resource later in 2024.

It also intends to conduct evaporation test work, as well as submit bulk volumes of lithium brines for evaluation by various DLE providers.

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.

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