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Pan Asia Metals Limited (ASX:PAM)

ALERT: Price-sensitive ASX Announcement for PAM
Current share price for PAM : $0.049 -0.032 (-39.51%)+
Announcement
Release
29 Jul 2024 10:01AM
Price at Release
$0.081
Full Release
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Summary
Pan Asia Metals Limited (ASX:PAM) has secured the Rosario Copper Project, a high-grade, Manto style Copper-Silver project strategically located in Chile’s premier copper mining region. The project is near the El Salvador copper mine and features three distinct prospective trends with significant mineralized zones. Initial sampling indicates promising copper grades averaging 2.13% with a high of over 5% and silver grades averaging 6g/t. The acquisition offers PAM a strong entry into the battery metals market, diversifying their portfolio and potentially positioning them as a low-cost producer. Future exploration and due diligence will determine the project's development path.
Key Points
  • PAM secures the high-grade Rosario Copper Project in Chile.
  • Rosario is located near infrastructure, including the El Salvador copper mine.
  • The project has identified three prospective trends with combined strike lengths over 10km.
  • Initial sampling shows average copper grades of 2.13% and silver grades of 6g/t.
  • Rosario offers strategic battery metals project diversification for PAM.
  • PAM aims to be a low-cost producer of essential electrification metals.
  • Due diligence and further exploration will include geochemical sampling, mapping, trenching, and geophysics.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.