Pan Asia Metals Limited (‘PAM’) is pleased to announce that it has secured the high-grade Rosario Copper Project. This Manto-style Copper-Silver project is located in an infrastructure-rich setting in Chile’s premier copper-producing region, 10 km north of the El Salvador copper mine.
Highlights:
- Pan Asia Metals (ASX: PAM) enters an exclusivity agreement for the Rosario Copper Project, Chile.
- Rosario is located in an infrastructure-rich setting near the El Salvador copper mine.
- High-grade copper-silver mineralization with rock chip samples averaging 2.13 % Cu and 6 g/t Ag.
- Three distinct prospective trends with a combined strike length of over 10 km.
Commenting on the recent deal, Managing Director, Paul Lock stated: “We have entered into this transaction as the Rosario Copper Project ticks all PAM’s boxes: the Project is located in an infrastructure-rich setting, with all processing needs nearby; it demonstrates peer group leading copper grades from a large suite of rock chips,’ and it is located in a premier copper producing region which is known for its cost advantages. The Project has what is needed to gain a position in the lower third of the cost curve. Rosario represents a tremendous opportunity to position PAM with a high-grade, low-cost copper project. We view copper as an equally important metal with lithium in the global electrification transition; the supply-demand dynamics are compelling, with deficits projected due to declining production and grades and a lack of new discoveries. Importantly, Rosario is not a pivot; the Project is strategic, has the right fundamentals, and offers PAM strategic options.”
Project Overview: The Rosario Copper Project is interpreted as a highly prospective yet significantly under-explored Manto-style copper-silver project. This style of mineralization occurs throughout northern Chile and is responsible for significant historical and current copper production. The largest examples of this deposit style have historic production and Mineral Resources of over 200 Mt at grades of 1 % Cu or better, along with by-product silver. These include the Chilean-based Mantos Blancos, El Solado, and Michilla mines, along with a host of ‘smaller’ but significant deposits.
Next Steps: PAM is finalising due diligence and will formalise its agreement with the Vendor in the coming weeks. Upon entering into an option over the Project, future work will include additional geochemical sampling, mapping, trenching, and Induced Polarisation geophysics. This work is anticipated to rapidly delineate drill targets, and drilling would be undertaken at the earliest opportunity.