Pan Asia Metals Commences Fieldwork at Rosario Copper Project in Chile, Confirming Strong Visual Results

Pan Asia Metals Limited (“Pan Asia Metals”) is pleased to announce the commencement of its geochemical exploration program at the Rosario Copper Project in Chile. Early visual observations from the fieldwork support the results of previous exploration, with many samples containing visible malachite, a secondary copper mineral.

Highlights:

• Geochemical Exploration Underway: Pan Asia Metals has begun a systematic geochemical exploration program at its Rosario Copper Project, focusing on the Rosario East Trend (RET).
• Strong Visuals: Early samples have shown strong visual evidence of copper mineralisation, including the presence of malachite, a secondary copper mineral, providing early validation of previous exploration results.
• Sampling Program: The program has collected 193 soil samples and 32 rock chip samples to date. These samples will undergo laboratory analysis, with results expected in mid to late October.
• IP Survey: The Company is also undertaking an Induced Polarisation (IP) survey, the first of its kind at the project, to provide further insight into the scale of the Rosario copper system.
• Future Drilling Plans: Pan Asia Metals is preparing a first-phase 2,500m reverse circulation (RC) drilling program, anticipated to begin in November 2024.

Paul Lock, Managing Director of Pan Asia Metals, stated: “In conjunction with the first ever IP survey at Rosario, we have started a systematic geochemical survey to confirm previous exploration results and determine the potential size of Rosario. Exploration results to date support previous work with strong visuals and many samples containing visible Malachite, a secondary copper mineral. The presence of small scale historical mines, and the proximity of the El Salvador copper mine, provide a high level of confidence in the project.” 

Exploration Update:

• The geochemical program aims to verify the work of previous explorers and assess the potential scale of the Rosario East Trend (RET). Soil sampling is particularly important in areas with poor outcrop, while rock chip sampling focuses on exposed outcrops and prospecting pits.
• A total of 193 soil samples and 32 rock chip samples have been collected to date along the RET. Previous rock chip sampling in the area has returned copper grades of 1-5 %.