Pan Asia Metals Limited (ASX:PAM) Reports Strong Copper Results
Project Prospectivity Enhanced
Pan Asia Metals Limited (ASX:PAM) has reported significant rock chip results from its Rosario Copper Project in Chile, with values reaching up to 8.9% copper. The laboratory analysis reveals that more than 50% of the rock chip samples contain copper values exceeding 0.10%, averaging 2.06% Cu along with silver concentrations reaching up to 50ppm.
Sampling Programme Insights
The recent sampling programme collected a total of 316 samples, including 100 rock chip samples specifically focusing on verifying results obtained from past explorers. Notably, 33% of rock chips displayed copper values above 0.75% Cu, with an average of 3.15% Cu and 18ppm Ag. This data aligns with previously perceived visual indicators of mineralisation across the project area.
Comments from Management
Managing Director Paul Lock expressed enthusiasm for the findings, stating, “With grades up to 8.9% Cu, the rock chip results are compelling and support the work conducted by previous explorers.” He highlighted the recent expansion of PAM’s holdings at Rosario, enabling the company to capture extensions of high-grade trends.
Future Exploration Plans
PAM is nearing the end of its geochemical exploration programme at the Rosario project, with plans to prioritise drill targets based on geochemical and induced polarisation results. The company is currently discussing drilling options and aims for a January 2025 start for its first phase of reverse circulation drilling, expected to cover approximately 2,000 metres.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.