Pan Asia Metals reports Khao Soon Tungsten results

Highlights

• Assay results confirm wide, high-grade near surface tungsten mineralisation.
• Results include:
  • KSDD024: 13.1 m at 0.51% tungsten trioxide (WO₃) from surface, including 4.6 m at 0.97% WO3 from 8.5 m.
  • KSDD025: 25 m at 0.27% WO₃ from surface, including 9.5 m at 0.54% WO₃ from 13.5 m.
  • KSDD032: 32.9 m at 0.53% WO₃ from surface, including 7.5 m at 1.22% WO₃ from 13.6 m.
  • KSDD032: 22.6 m at 0.30% WO₃ from 43.6 m, including 4.5 m at 0.74% WO₃ from 60.1 m.
  • KSDD033: 23.4 m at 0.58% WO₃ from surface, including 13.5 m at 0.75% WO₃ from 10 m.
  • KSDD034: 45.8 m at 0.32% WO₃ from 2.8 m, including 15.4 m at 0.57% WO₃ from 3.6 m.
  • KSDD035: 54 m at 0.25% WO₃ from 25.6 m, including 14.9 m at 0.40% WO₃ from 64.6 m.
  • KSDD036: 27.5 m at 0.38% WO₃ from 76.1 m, including 15.5 m at 0.45% WO₃ from 82 m.
• Results are in line with exploration target models.
• Shallow dipping geometry confirmed, good WO₃ grades, commencing at surface.
• Mineralisation has shape and dimensions potentially amenable to opencast mining.

Pan Asia Metals’ Managing Director, Paul Lock, said: “We are pleased that the laboratory assays have returned strong results with a large number of intersections at greater than 0.5%, WO₃ including 7.5 m at 1.22% WO₃. These are peer group leading results. At Than Pho West the results are in line with or better than the exploration target model, with the grades and geometries shaping up as opencast targets with the mineralisation being open at depth.

“Further to our results it is pleasing to see the general buoyancy in the APT market, which is the reference price for tungsten. Fastmarkets MB recently reported that the APT price was US$25 000 – US$25 500/t, the highest level since 2019. According to commentators the market is up due to tightness in the scrap and raw materials market and the demand side of the market is faced with the prospect that several large Chinese and Russian mines are reaching the end of their respective lives.

“We believe Khao Soon will be one of the few new tungsten projects with the potential to work in the current price environment.”

Overview

KSTP is one of PAM’s key assets and a significant historical high-grade producer. Modern exploration has discovered potentially world-class, district scale tungsten mineralisation across numerous prospects. Previous diamond drilling by PAM has intersected robust widths and grades associated with strong surface anomalies, from which exploration targets have been estimated. The current drilling program seeks to test the exploration targets, with the ultimate aim of estimating inferred mineral resources.

PAM has received assay results for holes KSDD024 to KSDD037 from the Target 2 (T2) and Than Pho West (TPW) prospects. The results support and generally enhance the previously reported spot hand-held XRF analysis on drill core and PAM notes a general increase in WO₃ concentrations.

Target 2

T2 is defined by a large high tenor, tungsten in soil anomaly about 450 m long and 150 m wide. Shallow drilling by previous explorers intersected tungsten mineralised laterite on the western side of the soil anomaly. Based upon the results of previous drilling and the large tungsten in soil anomaly, an exploration target of 6 – 12 million t at 0.1 – 0.3% WO₃ was estimated for T2.

The drilling programme at Target 2 had three main objectives:

1. Test an Induced Polarisation anomaly.
2. Test the large WO3 in soil anomaly.
3. Evaluate the exploration target defined at Target 2.

A total of nine holes have been drilled for an aggregate of 773.3 m. Drilling results have confirmed robust near surface WO₃ grades exist beneath much of the tungsten in soil anomaly which are generally in-line with the grades stated for the exploration target.

Results for holes (KSDD023) drilled to test a deep induced polarisation and holes (KSDD030- 031) drilled to test laterite hosted WO3 mineralisation west of the soil anomaly, have tended to 3 downgrade these targets, although further drilling is required due to the wide spaced nature of previous and current drillholes at these targets.

Additional drilling is planned at Target 2 and will test the soil anomaly along strike to the northeast and southwest where it remains open. Further holes are also planned to test the mineralised zone down dip. The estimation of a mineral resource is contingent upon the results of future drilling.

Than Pho West (TPW)

The TPW prospect is defined by a large plus 1 km long WO₃ soil anomaly supported by rockchips and subsequent drilling. PAM has previously completed seven widely spaced diamond core holes at TPW and defined near surface tungsten mineralisation over substantial widths.

Based upon the initial seven drill holes an exploration target of 4 – 8 million t at 0.2 – 0.4% WO₃ was estimated.

The drilling programme at TPW was designed as infill and extensional drilling to test the exploration target. Should the programme be successful it may allow a mineral resource to be estimated. In the current programme PAM has completed 10 holes at TPW (KSDD032-041) for a total of 828.2 m. Results have been received for holes KSDD032 to KSDD037. Results for the remaining four holes are expected in the near term.

Drillholes KSDD032 and 033 were drilled as infill holes on a previously drilled section. Both holes intersected wide zones with robust WO₃ grades, averaging around 0.47% WO₃ which is generally in-line or above those of previous drilling and the exploration target grade ranges. The mineralised zone as interpreted on this cross section attains a maximum true width of almost 60 m, and extends at least 150 m down dip and remains open.

Drillholes KSDD034, 035 and 036 were drilled on the same section about 120 m north of KSDD032/033 cross section. These three holes have delineated a thick zone of tungsten mineralisation dipping about 35° to the east and extending at least 200 m down dip, where the zone remains open down dip of hole KSDD036, which intersected 27.5 m at 0.38% WO₃ from 79.2 m.

This represents the deepest intersection at TPW to date. At its widest the true thickness of the mineralised zone on this section is interpreted to be approximately 63 m.

The thickness and grade of the mineralised zone on this section is in line with the exploration target model.

Drillhole KSDD037 was drilled on a cross section about 120 m south of the KSDD032/033 cross section. KSDD037 intersected a 52 m wide zone (true width), averaging 0.11% WO₃ which remains open down dip. The thickness of this zone is in line with the exploration target model.

Drillhole KSDD038 was drilled up-dip of KSDD037. PAM has no grade information from this hole due to a malfunction in the hand-held XRF. Laboratory assays for KSDD038 and subsequent holes 039, 040 and 041 are expected in the near term. PAM has also purchased a replacement hand-held XRF which should be delivered within 3 weeks.

Importantly most of the core intersections through the mineralised zones at TPW are PQ diameter. This larger diameter (85 mm) core maximises core recovery, compared to previous HQ diameter core (61 mm), where recovery was variable in some of the mineralised zones. The PQ core also provides additional material for metallurgical test work.

The results support previous work, confirming a thick, shallow dipping mineralised zone with typical grades averaging between 0.2 – 0.5% WO₃. These results serve to confirm and locally enhance the exploration target model.

Drilling at TPW is being undertaken at sufficient spacing that should enable a mineral resource estimate to be reported, subject to the success of the programme and other factors that contribute to a mineral resource. Further drilling is planned at the TPW prospect and will seek to extend the mineralised zone along strike and down dip, along with local infill drilling.

PAM also has two other prospects where exploration targets have been estimated, Rabbit and Than Pho Ridge. Further drilling is planned at these prospects to test the exploration targets with the aim of potentially delineating mineral resources. A large soil anomaly with robust WO₃ grades occurs at the Last Hill prospect. This prospect will also be the focus of future drill testing.

Read the article online at: https://www.globalminingreview.com/exploration-development/25022021/pan-asia-metals-reports-khao-soon-tungsten-results/