Pan Asia Metals Reports High-Grade Copper Findings at Rosario Project
PAM (PAM) Share Update December 2024 Thursday 5th
Pan Asia Metals Unveils Promising Copper Results at Rosario Project
Pan Asia Metals Limited (ASX: PAM) has announced significant rock chip results from its Rosario Copper Project in Chile, enhancing the project's prospectivity.
Instant Summary:
- Rock chip results reveal up to 8.9% copper and 50ppm silver.
- Over 50% of samples show copper values exceeding 0.10%, averaging 2.06% copper.
- 33% of samples exceed 0.75% copper, with an average grade of 3.15% copper.
- Compelling copper mineralization supports previous exploration findings.
- Drill targets to be prioritized following geochemical and IP results.
Rock Chip Sampling Results
The Rosario Copper Project, located in Chile's Central Copper Belt, has yielded rock chip results with copper grades as high as 8.9%, alongside silver concentrations reaching 50ppm. These findings significantly bolster the project's potential, aligning with previous exploration outcomes.
More than half of the rock chip samples collected exhibit copper values over 0.10%, with an average copper grade of 2.06% and silver at 12ppm. Notably, 33% of these samples have copper values exceeding 0.75%, averaging 3.15% copper and 18ppm silver.
Exploration Context
The Rosario Copper Project is strategically positioned 10km north of the El Salvador copper mine, operational since 1959. The recent expansion of Pan Asia Metals' holdings by an additional 61 square kilometers aims to capture extensions of high-grade trends identified at Rosario.
The rock chip sampling program involved collecting 316 samples, including soil, rock-chip, and stream sediment samples, to verify and enhance previous exploration work. The results underscore the large-scale presence of elevated copper across the project area.
Prospects and Future Plans
At the Lucia, Solana, and Catalina prospects, significant mineralized trends were identified, with copper values peaking at 8.88% at Solana. These results support further exploration efforts, including mapping and potentially grid-based soil sampling.
Pan Asia Metals is in discussions with drilling contractors to initiate a reverse circulation drilling program, anticipated to start in early 2025, subject to contractor availability.
The announcement of high-grade copper findings at the Rosario Project is likely to positively influence Pan Asia Metals' stock, as it highlights the project's potential to yield economically viable copper resources. This could attract investor interest and enhance the company's market position within the battery and critical metals sector.
Investor Reaction:
Analysts may view these results as a positive indicator of the project's viability, potentially leading to increased investor confidence. The strategic location and promising results could position Pan Asia Metals as a significant player in the copper exploration industry.
Conclusion:
Investors should closely monitor Pan Asia Metals' ongoing exploration activities and upcoming drilling results. The company's strategic expansion and promising findings at the Rosario Project could present lucrative opportunities for stakeholders.