PAM to acquire 100% interest in Tama Atacama Lithium Brine Project
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Battery and critical metals explorer and developer Pan Asia Metals Limited (PAM) has entered into three binding Option Agreements to purchase 100% of the Dolores North, Dolores South, Pozon, and Pink project areas which form the Tama Atacama Lithium Brine Project in Chile, as well as the northern half of the Ramatidas project area.
Highlights:
- Tama Atacama is one of the largest lithium brine projects in South America, with approximately 120 000 ha holdings across three salars.
- Extensive lithium surface anomalies with elevated lithium results up to 2200 ppm Li and averaging 700 ppm Li (270ppm Li cutoff) extending over 160 km north to south.
- Tama Atacama is a Tier 1 asset in a Tier 1 jurisdiction and PAM is already in discussions with potential strategic partners.
- PAM plans to commence geophysics and drilling in early 2024.
- The Option Agreements have timelines and expenditure commitments which are attractive and achievable when considered in the context of similar lithium brine project transactions in Chile and the US.
Pan Asia Metals’ Managing Director, Paul Lock, said: “The Tama Atacama Lithium Project has the potential to be one of the largest lithium brine projects in the global peer group. Surface assays for lithium are extremely high and the project has enviable strategic positioning, with all infrastructure requirements satisfied. Waste and water balance solutions are available should straight evaporation or a DLE-evaporation hybrid lithium extraction model be adopted. The project is situated at a comfortable altitude, is close to a large labour pool and will attract specific brine skillsets from elsewhere in South America. Underlying PAM’s advantages are the progressive changes happening in the Chilean lithium sector, the recent MOU between SQM and Codelco quells speculation around nationalisation, which follows several strategic moves in Chilean lithium by multinational mining and chemical companies. This include France-based Eramet SA’s recent purchase of early stage Li brine assets for approximately AUS$150 million, Codelco’s acquisition of Lithium Power Int. and its Maricunga Li brine assets for AUS$385 million, and recent indications from BASF, BYD, and Tsingshan that they plan to build lithium conversion plants in Chile.”
Read the article online at: https://www.globalminingreview.com/mining/03012024/pam-to-acquire-100-interest-in-tama-atacama-lithium-brine-project/
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