Pan Asia Metals Limited report that drillhole BTDD001, the first ever hole drilled at the Bang I Tum lithium prospect, has been completed. The Reung Kiet Lithium Project (RKLP) is one of PAM's key projects. RKLP, inclusive of the Bang I Tum lithium prospect, is a hard rock project with demonstrated potential for lithium hosted in lepidolite/mica rich pegmatites chiefly composed of quartz, albite, lepidolite, muscovite with minor cassiterite and tantalite as well as other accessory minerals including some rare earths. Drilling at BIT is planned on 100-150m spaced sections along the pit length and extending southwest to "Lepidolite Hill". Drillhole depths are planned up to about 180m and will test the interpreted pegmatite positions beneath the open pit and along strike to the south west. Drillhole BTDD001 was drilled to a depth 171m at a dip of -60 degrees, to direction 310 degrees magnetic. The drillhole traversed weathered siltstone to 14.5m, and then passed into fresh meta- siltstone. The hole intersected a swarm of 17 separate pegmatite stringers, veins and dykes commencing at 46.5m and continuing through to 164.5m. These zones ranged in thickness from 0.1m to 6.9m. A central zone of more extensive and wider dykes is present from 86.3m to 135.3m. This 49m wide zone contains seven dykes which total 24.7m of composite thickness. Individual dykes in this zone are typically 2 to 6.9m wide. Additional, but narrower pegmatite veins and stringers continue to 164.5m. The pegmatite swarm would appear to be vertically extensive, occurring from 50m to 110m below the old pit floor. All of the pegmatites intersected in the hole contain quartz, feldspar and varying amounts of fine grained to clotty muscovite, as well as tourmaline which is locally altered to chlorite. Detailed logging is yet to be undertaken, however, the observed muscovite, is visually estimated to vary between 5% and 25% of the pegmatite. The muscovite is the potential lithium-bearing mineral phase in the pegmatite. Muscovite is a white mica, unlike lepidolite which is predominantly a purple to pink coloured mica. At Bang I Tum previous work has identified that both muscovite and lepidolite can contain lithium. In a 1960's study it is stated "much paler-coloured, and also white lepidolite (aka muscovite) with over 4.0% lithia (Li2O) occurs in the Bang I Tum pegmatitei". Work by PAM, including mineralogical studies of lithium bearing pegmatite from Lepidolite Hill about 500m south of BTDD001, shows that muscovite is the dominant lithium bearing mineral over lepidolite. This is also borne out visually, in that the characteristic purple/pink coloured lepidolite is less abundant in the lithium rich pegmatites at Lepidolite Hill.