Pan Asia Metals has announced the acquisition of additional exploration concessions adjacent to its high-grade Rosario copper project in the Atacama region of northern Chile.
The company has submitted 26 exploration concession applications covering around 61km² at the project. The approval will expand the holdings from approximately 25km² to 86km².
The move aims to capture key geological trends in multiple directions and secure vital infrastructure corridors for future development needs.
The new concession areas are strategically located along the northern strike extensions of the Rosario Central and Rosario West trends.
These areas are covered in gravel and are considered highly prospective for mineralisation, particularly where cross-cutting structures intersect the main north-north-west trends. Pan Asia Metals has also applied for several smaller concessions to maintain contiguous holdings where possible.
Pan Asia Metals managing director Paul Lock said: “The new application areas capture important geology as well as corridors and zones for future energy needs, and large areas of deep alluvial gravels with potential for water. Aside from the additional prospective geology, these concession applications mitigate the time and cost risk to secure these zones at a later date, when your neighbours know you need it.”
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By GlobalData
The new concession areas are expected to aid the company in securing corridors for essential infrastructure. This includes connections to Chile’s north-south energy grid and zones suitable for solar power installations.
A significant portion of the new concessions, approximately 9km², provides a flat area ideal for solar energy generation. The company also aims to access zones with groundwater potential, hosted in thick alluvial gravels, critical for the project’s sustainability.
The Rosario copper project is a highly prospective, Manto style copper-silver project. This mineralisation style is prevalent in northern Chile and has led to significant historical and current copper production.
Notable examples of this deposit type include the Mantos Blancos, El Soldado and Michilla mines, which have reported historic production and mineral resources exceeding 200 million tonnes at grades above 1% copper, along with by-product silver.
Situated approximately 120km east of the port city of Chanaral and 160km north of the mining city of Copiapo, the Rosario project benefits from excellent infrastructure including well-formed paved roads.
In July, Pan Asia Metals signed an exclusivity agreement to conduct due diligence on the Rosario copper project, strategically diversifying its portfolio with high-grade copper assets. The company also obtained the final exploration permits for its Tama Atacama lithium project in Chile in the same month.
