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Corporate Spotlight

Pioneer Resources Limited (PIO) is a minerals exploration and development company holding multi-commodity tenement portfolio strategically located largely within 200 km of Kalgoorlie-Boulder, Western Australia.
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Interview with David Crook, MD Pioneer Resources

PIONEER DOME: DRILLING ADVANCING

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Drilling Advancing at North Dome. First Three Holes Intersect Pegmatite Down Dip of Spodumene Outcrop 

ASX Announcement 22 August 2019 


Perth, Western Australia: 22 August 2019:  Pioneer Resources Limited ("Company" or “Pioneer”) (ASX: PIO) is pleased to advise investors that the inaugural drilling programme is underway at the Dome North group of prospects where spodumene has been mapped in outcrop.


On 17 July 2019 the Company released rock chip results to the ASX, which were summarised as: 

  • Target 1 (currently 200m long):  7 rock chips returned between 1.40% and 1.99% Li2O; 
  • Target 2 (currently 300m long):  17 rock chips returned between 1.65% and 3.70% Li2O 
  • 2 Emerging Targets: rock chips returned 1.53 and 2.63% Li2O


DRILLING UNDERWAY 

The first orientation drill hole, PDRC263, drilled in an easterly direction at Target 2, encountered pegmatite ‘down‐ dip’ of the outcrop from which the 17 rock chips containing spodumene returned assays between 1.65% and 3.70% Li2O (See Table 1 for drill hole locations and Figure 2).


Pegmatite was intersected from 175m down hole and continued to the termination of the hole at 311m (136m).   Such an intersection suggests that the pegmatite is dipping approximately parallel to the first drill hole, which was angled at ‐60O from horizontal towards east, and therefore the apparent width is greatly exaggerated.


Two further holes (PDRC264, PDRC265) have been drilled to the west.  These targeted the pegmatite intersected in PDRC263 from the opposite direction and are believed to have given a better indication of the true width of the pegmatite.  To date, pegmatites have been intersected in PDRC264, between 33‐54m (21m), 66‐71m (5m) and 107‐ 115m, and in PDRC265 between 122‐151 (29m) and 180‐188 (8m).


Spodumene mineralisation is indicated in all  pegmatites intersected  to  date.  For  drill intervals where  Pioneer’s geologists have logged spodumene, selected individual drill chips of the respective 1m samples have been further appraised using the Bravo handheld Raman Spectrometer (“Raman”) 1 to support their observations. 


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DRILLING RESULTS UPDATE

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DRILLING INTERSECTS LITHIUM AND CAESIUM ALONG STRIKE OF THE SINCLAIR CAESIUM MINE STAGE 1 PIT 

ASX Announcement 15 August 2019 


Perth Western Australia, 15 August 2019: Pioneer Resources Limited ( the "Company" or "Pioneer", ASX: PIO) is pleased to provide the following results from the June drilling programme at its 100%-held Pioneer Dome Project, located approximately 130km south of Kalgoorlie and 200km north of the port of Esperance, in the Eastern Goldfields of Western Australia.


The drilling programme (see ASX announcement 27 May 2019) was designed to further test lithium and caesium extensions north and south of the recently completed Sinclair Caesium Mine Stage 1 Pit. 


Drilling Highlights included:


Lithium 

  • PDRC235: 11m at 1.94% Li2O from 40m (petalite) 
  • PDRC236: 8m at 3.10% Li2O from 42m (petalite) 
  • PDRC252: 14m at 1.68% Li2O from 38m (petalite) 
  • PDRC241: 21m at 1.96% Li2O from 38m (petalite and lepidolite) 
  • PDD258: 11.2m at 1.77% Li2O from 50m (petalite and lepidolite) 
  • PDRC255: 10m at 2.13% Li2O from 40m (lepidolite) 
  • PDD259: 11.2m at 2.17% Li2O from 52.5m (lepidolite) 


Caesium

  • PDD262: 2.8m at 14.58% Cs2O from 51.9m (pollucite) 
  • PDD261: 1.9m at 23.92% Cs2O from 54.5m (pollucite) 
  • PDD259: 0.8m at 14.01% Cs2O from 54.7m (pollucite)


SUMMARY OF THE PROGRAMME 

The drilling programme was undertaken during late May and June 2019, with 24 RC drill holes (PDRC233- PDRC256 for 2,160m) and 6 diamond drill holes (PDD257 – PDD262 for 400.3m of core) completed.


Drilling intersected some of the thickest and highest-grade lenses of lithium (petalite and lepidolite) mineralisation to date (including a high-grade petalite intersection of 8m of 3.1% Li2O), as well as potash (K) feldspar and quartz, being continuations of zones encountered in the stage 1 Sinclair Caesium Mine.


The caesium mineral pollucite was intersected where targeted in three drill holes. The extremely differentiated pegmatite core, where pollucite may occur, extends both north and south of the Sinclair Mine, albeit in this programme pollucite was intersected only as small pods north of the stage 1 pit. 


DRILLING FOR SPODUMENE AT SPOD1 AND SPOD2 TARGETS ABOUT TO START 

Drilling is on track for a start next week. This follows the identification of significant outcrops of spodumene at the Dome North Prospect (ASX releases, 17th July and 30 July 2019). The programme will ABN: 44 103 423 981 2 initially consist of 5,000m of orientation RC drilling, with further drilling scheduled as the mineralised system becomes better understood.


STOCKPILES AND SHIPMENTS - POLLUCITE 

As a result of productive discussions in July with the pollucite offtaker, Sinomine Specialty Fluids Limited, sale and shipping terms have been varied to expedite the shipping of pollucite stocks. A shipment of approximately 2,000t of pollucite has been containerised ahead of a shipping date of 27 August 2019. The Company received a pre-shipment payment of US$700,000 (A$1.029 million) on 12 August 2019, with a second pre-shipment payment of US$650,000 (~A$0.956 million) due before containers are loaded onto the ship.


STOCKPILES OF OTHER MINERALS 

Discussions are continuing with potential offtake parties interested in minerals other than pollucite that were stockpiled during excavation of the Sinclair Caesium Mine Stage 1 open pit. Several parties have, or are, undertaking test work on samples of the stockpiled materials, with most interest received for petalite to date. 


Market feedback indicates that each of the stockpiled materials in its current form (i.e. run-of-mine) will require beneficiation to increase saleability and margins. Ore sorting test work is in train, and the results of this drilling programme will contribute to the study of the viability of a future pit expansion.



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HIGH GRADE RESULTS

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HIGH GRADE LITHIUM RESULTS UP TO 3.70% Li2O FROM SPODUMENE SAMPLES AT PIONEER DOME

ASX Announcement 17 July 2019 


Perth, Western Australia: 17 July 2019: Pioneer Resources Limited (the "Company" or “Pioneer”) (ASX: PIO) is pleased to provide a geological update for the 100%-held Pioneer Dome Project near Norseman in Western Australia.


On 25 June 2019 the Company provided details of the discovery of a spodumene-bearing pegmatite system at the Dome North area, located at the northern end of the Company’s Pioneer Dome Project.


MAPPING CONFIRMS HIGH GRADE LITHIUM PEGMATITES 

Assays of rock chips taken during geological mapping have provided evidence of high grade spodumene mineralisation within two pegmatite exposures that together exceed 500m in strike length.


Drilling is scheduled to commence in August 2019, with up to 5,000m planned to follow up: 

  • Target 1 (currently 200m long): 7 rock chips returned between 1.40% and 1.99% Li2O; 
  • Target 2 (currently 300m long): 17 rock chips returned between 1.65% and 3.70% Li2O 
  • 2 Emerging Targets: rock chips returned 1.53 and 2.63% Li2O 


The Pioneer Dome sits along an increasingly important ‘lithium corridor’ which includes three lithium mines that extract and concentrate spodumene: Mt Marion (Gangfeng, Mineral Resources), Bald Hill (Alliance Minerals) and Mt Cattlin (Galaxy Resources); as well as the emerging Buldania deposit (Liontown Resources). 



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PRESENTATION

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