Pan Asia strikes more lithium in Thailand

ASX-listed Pan Asia Metals continues to deliver broad lithium intercepts at its Reung Kiet prospect, located near Phuket in southern Thailand at its Reung Kiet project. The latest four holes from ongoing resource drilling have returned some broad mineralised intercepts including 22.8 metres grading 0.84 per cent lithium oxide in hole RKDD023 and 27.9m at 0.70 per cent lithium oxide in hole RKDD026. Curiously, all four holes also contain richer zones of lithium mineralisation and a swathe of other valuable by-products, including tin and some rare earths. Hole RKDD023 returned a 14.15m interval going 0.81 per cent lithium oxide from 107.25m, 590 parts per million tin, 117ppm tantalum pentoxide, 305 ppm caesium, 0.28 per cent rubidium and 2.75 per cent potassium. A 10.5m section at 0.93 per cent lithium oxide with other by-products was also intercepted in hole RKDD026 from 35.5m. In hole RKDD024, the drillbit hit 38.05m at 0.56 per cent lithium oxide with a richer 10.15m interval grading 0.93 per cent lithium oxide from 112.5m. Hole RKDD025 struck 27.75m at 0.54 per cent lithium oxide including 6.45m going 0.84 per cent lithium oxide from 28.05m. Management says the broad intercepts confirm the presence of an extensive lithium mineralised zone at Reung Kiet. A mineralised strike stretching for more than one kilometre has been defined at the prospect so far. Pan Asia says all holes in the drilling campaign so far have returned zones of lithium mineralisation associated with lepidolite rich pegmatite dykes and veins. The company believes the grades of lithium oxide and other by-products intercepted in the four new holes is consistent with other lepidolite, or lithium mica projects globally. The rods continue to turn at Reung Kiet in anticipation of a maiden mineral resource estimate to feed into a scoping study evaluating initial production of up to 10,000 tonnes per annum of lithium carbonate equivalent. Assays from another eight holes are due soon, with samples from a further seven holes shipped to the labs for analysis. Drilling has already delivered some solid numbers with 11.8m going 0.84 per cent lithium oxide from 133.2m intercepted recently, including a richer 5.1m interval at 1.11 per cent lithium oxide. Another hole from the campaign returned 18m at 0.62 per cent lithium oxide from 127m, including 9.3m at 0.86 per cent lithium oxide. The market is insatiable for lithium right now and Pan Asia looks to have plenty of it. Its maiden resource will no doubt be highly anticipated by Pan Asia followers. Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au