Pan Asia Metals secures options in Chile’s Tama Atacama lithium project

Pan Asia Metals secures options

Pan Asia Metals (PAM) announced last week that it has secured the option to buy Chile’s Tama Atacama lithium project. Tama Atacama project is a lithium brine project that is considered to be one of the largest South American lithium resources. The project which covers around 1200 km2 is over three salt flats and consists of Dolores North, Dolores South, Pozon and Pink project. In addition to this Pan Asia is also acquiring the north half of the Ramatidas project. In the next 5 years, multiple structure payments will be involved in this acquisition, as well as it is expected that this deal will catalase several strategic moves at the Chilean lithium stage. Such moves involve the recent purchase of early-stage Li brine assets by Eramet SA, CODELCO’s acquisition of Lithium Power International. and its Maricunga Li brine assets, moves by Australian and Chinese processors to build lithium conversion plants in the South American country, and recent indications from BASF, BYD, and Tsingshan that they plan to build lithium conversion plants in Chile.

High concentration deposits

Tama Atacama is considered a high lithium concentration deposit with a strategic positioning that has been indicated by Paul Lock: “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.”

Geophysics and drilling is expected to start in the early 2024. The company currently holds talks with potential strategic partners and expects to establish communication with the Chilean government which recently formed a new state-controlled lithium partnership. The Partnership combines assets of CODELCO and SQM. The partnership is the idea of Chile’s President Gabriel Boric for greater public control over the lithium deposit.

Tama Atacama

According to the PAN official website: Tama Atacama consists of 7 highly prospective lithium prospects, figure 1.

Figure 1. Tama Atacama Lithium Project. Source: PAN ASIA METALS announcement

The Pink Lithium Prospect (Pink) is the priority prospect.

Certain areas of the Salars host historic borate, potassium, and salt extraction, with many areas immediately west of the Salar the host to historic nitrate mining.

PAM believes the Pink prospect has the potential for deeper Li-rich brines from about 250-700m, which are hosted in consolidated to semi-consolidated sedimentary/evaporite horizons. At and near-surface. PAM believes there is potential for Li hosted in clays and evaporite layers.

Regarding production, PAM is considering applying straight evaporation or a DLE-evaporation hybrid lithium extraction model. Considered technology was chosen to achieve sustainability goals. Moreover, PAM intends to stop the plans for the Hilix Lithium Clay Project which is at the same location. This is dictated to fulfill the restrictive conditions of transportation and energy infrastructure.

CESCO and WMC/IOC events in Chile

At this point, we would like to inform and invite everyone to the CESCO Week which will be held 15-19.04.2024 in Santiago de Chile. CESCO it is one of the leading copper mining events globally, which brings together the highest authorities and leaders of the industry each year. Moreover, the WMC/IOC meeting will take place on 14.04.2024 in Santiago de Chile.