12:52 PM EDT, 08/05/2025 (MT Newswires) -- Pan American Energy ( PAANF ) on Tuesday rose 10% on "positive" assay results from its Winter 2024 diamond drilling program at the Big Mack Lithium project in northwestern Ontario.

Drilling at holes BM24-060 to BM24-064 confirmed consistent lithium mineralization across the Sprinkler pegmatite. Holes BM24-065 and BM24-066 intersected multiple pegmatites of varying textures and mineralogy, but neither returned any notable lithium mineralization. The company said results from these holes help constrain the eastern boundary of the Big Mack system and suggest zonation or structural compartmentalization within the broader pegmatite swarm.

Pan American Energy ( PAANF ) said results from hole BM24-067 represented the highest-grade and thickest intercept from the current program. Hole BM24-068, intersected several pegmatitic zones but did not return any significant lithium mineralization.

The company said geological logging from BM24-068 will aid in refining the structural and mineralogical model of the system. Pan American Energy ( PAANF ) intends to update the 3D geological model using new drill data to support improved targeting and interpretation.

Shares of the company were last seen up $0.05 at $0.55 on the Canadian Securities Exchange.

Price: 0.55, Change: +0.05, Percent Change: +10.00