Pan Asia Metals (PAM) has secured an exclusivity agreement to conduct due diligence on the Rosario copper project in Chile, positioning itself to diversify its portfolio with high-grade copper assets. This move precedes PAM’s planned option agreement to acquire the Rosario project.
The Rosario copper project, situated near the El Salvador copper mine and key infrastructure such as Enami’s processing plant and Codelco’s smelter, features exploration prospects with a 10km strike length and mineralized zones up to 200m wide. Preliminary results indicate strong potential, with 73 out of 89 samples showing copper grades above 0.1%, averaging 2.13%, and some samples exceeding 5%.
PAM’s acquisition of Rosario aligns with its strategy to secure battery metals projects and position itself as a low-cost producer. PAM’s Managing Director, Paul Lock, stated, “The Rosario copper project meets all our criteria: it is located in an infrastructure-rich area with nearby processing facilities, exhibits leading copper grades from numerous rock chip samples, and is situated in a premier copper-producing region known for cost advantages. The project has the potential to place us in the lower third of the cost curve.”
Lock further emphasized, “Copper is as crucial as lithium in the global electrification transition. The supply-demand dynamics are compelling, with projected deficits due to declining production and grades, and a lack of new discoveries. Rosario is a strategic asset, with the right fundamentals and offering significant strategic options for PAM.”