Pan Asia Metals (PAM) has secured the final exploration permits for its Tama Atacama Lithium Project in Chile.

The new group of exploration concessions span 303km², or 30,300ha.

With the recent approvals, PAM’s total area of granted exploration concessions under option agreements and MOUs has expanded to 1,234km² or 123,400ha.

The majority of these concessions are within PAM’s holdings under option agreements 1 and 2, with the area under these agreements increasing by 290km² to 1,036km², or 103,600ha.

The latest permit represents the fifth series of Exploration Concession grants, with the previous four announced in January and February 2024.

Additionally, PAM has been granted a further net total of 13km², or 1,300ha, of exploration concessions at the southern part of the Ramatidas Lithium Prospect and the PowerLine Lithium Prospect.

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These areas are part of the 400km² of concessions still under MOU and are currently under review.

If included, they will become part of PAM’s Tama Atacama Lithium Project, bringing the total area under MOU with granted exploration concessions to 263km², or 26,300ha.

Significant changes to the Chilean Mining Code were enacted on 19 December 2023 with the approval of Law No. 21420.

Notably, the term of exploration concessions has been increased to four years, with the option to extend for another four years, replacing the previous two-year plus two-year licensing regime.

Consequently, the latest concessions obtained by PAM will expire in 2027 and 2028, providing a more extended period for exploration activities.

Earlier this month, PAM obtained an exclusive option agreement for the RK Prospect property in Thailand.

The RK Prospect is situated at the southern end of the RK Lithium Project, encompassing an area of 42ha.