The best soil assay returned 1928ppm copper which is the equivalent to 0.19 per cent.

Pan Asia Metals managing director Paul Lock said: “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.”

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.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au