Pan Asia Metals (ASX: PAM) has discovered up to 17 per cent copper in rock chips from a sampling program that has defined a large, mineralised zone with a 3.6km long trend up to 250m wide at its Rosario copper project in Chile.
The company conducted a sampling program consisting of soils and rock chip analysis combined with historical workings, to define the Rosario East trend within the project.
Management says the objective of the exploration geochemical program was to follow up work by previous explorers and gain a better understanding of the mineralised potential of the Rosario ground.
It says the program comprised 316 samples collected, including 193 soil samples, 100 rock chip samples and 23 stream sediment samples. Importantly, the zone remains open in most directions.
The company revealed a series of impressive results from the rock-chip sampling that includes a 2.4 per cent copper sample, 5.3 per cent and two even higher grade samples going 12.2 and 17 per cent copper.
All four samples were subject to spot readings across four positions within each sample using a hand-held X-ray fluorescent (XRF) analyser. Many rock chips contained the visible minerals malachite, chrysocolla and chalcocite. Samples have been sent for laboratory analysis with results expected in about four weeks.
Notably, the rock chips are coincident with some encouraging soil samples. The soil sampling was undertaken on a 200m-by-50m grid across about 2.5km of strike. The northern third of the Rosario East trend has poor outcropping and is masked by shallow gravel cover, making the soils program a beneficial addition to the overall program.
Two spot XRF readings were taken from each sample and the results were averaged. 149 of the samples have been analysed so far by the XRF process which the company says is enough to outline the copper trend, particularly with some samples registering150 parts per million or above . More sample results will drop in the next two weeks.
The best soil assay returned 1928ppm copper which is the equivalent to 0.19 per cent.
“The initial results provide a good indication of the potential at Rosario. We have identified a large copper zone, 3.6km in length and 150-250m in width, of which PAM holds 2.6km. The zone is supported by soil and rock chip assays. This is complemented by spot hhXRF of rock specimens, with average grades up to 17 per cent copper.” Pan Asia Metals managing director Paul Lock
An XRF analyser is a high-tech handheld machine capable of determining approximate grades and minerals present in a given sample whilst still in the field.
Management says 2.6km of the 3.6km strike length sits within its ground and has begun discussions with drilling contractors for a phase-one reverse-circulation (RC) drill program across the defined trend before the end of the year, potentially for a 2500m program.
It has also completed an induced-polarisation (IP) survey across the site and expects results shortly. It is hopeful the IP survey will unveil some deep oxide zones that are potentially amenable to simple heap leaching mining operations. If any deep oxide zones are encountered, they will play a pivotal role in the prioritising of drill targets.
Rosario is strategically located sitting about 100km by road from Chilean State mining firm ENAMI’s El Salado oxide and sulphide copper ore processing plant, while Codelco’s Porterillos copper smelter is just 40km south of its El Salvador mine.
The combination of positive soils, high grade rock chips and potentially positive geophysics in the world’s largest copper producing country just might set Pan Asia on a new path at a time when some commentators are suggesting copper is about to have its day in the sun.
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