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Pan Global partner in Serbia gets licence approvals for six projects

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Mining company Pan Global Resources Inc. announced Tuesday that its exploration partner in Serbia has received approval for six new licences.

The approvals granted to Lithium Li Holdings Inc. are for the Radusa, Badanja, Ljig, Bela Crkva, Kosjeric and Gorobilje projects and total some 464 square kilometres.

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The latest approvals are in addition to the previously approved licences for Jadar West and Valjevo, which total 178 square kilometres.

“The exploration program is now underway with a geophysical program including gravity and magneto-tellurics,” the company said in a release.

“Gravity has been completed on four licences and show well developed basins within a well documented zone of lithium anomalism. Magneto-tellurics have been completed on three licences, including Jadar West and Badanja, with results expected by the month’s end. These titles are immediately adjacent to Rio Tinto’s Jadar deposit, where production is planned to commence in 2016.”

In addition, field reconnaissance has started in all approved licences where outcrop mapping and sampling are ongoing. Geochemical assays have been obtained from outcrops in the Valjevo licence and indicate strong lithium and borate anomalism. Assays from other geochemical sampling remain pending.

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“Given the rapid advance of the multidisciplinary exploration program currently underway, the company expects the exploration drilling program to be initiated in Q3 2011.”



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