PIO 0.00% 1.1¢ pioneer resources limited

Is there a full moon out tonight! What first whet NST"s appetite...

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    Is there a full moon out tonight!

    What first whet NST"s appetite down Emu way..

    Acra Gold Project

    Pioneer 80%. Northern Star Resources Limited 20%, with an option to earn up to 75%
    The Acra Gold Project covers an area of 340 km² and is located 60 kilometres north east of Kalgoorlie, WA. The Project has historically been explored for nickel, however Pioneer’s exploration focus turned to gold, and was successful in identifying a 20 km long gold target zone.
    In October 2016, the Company entered into a Joint Venture Agreement with gold miner Northern Star Resources Limited (ASX: NST) under which Northern Star may earn up to a 75% interest in the Project.
    Drilling Summary

    Reverse Circulation (RC) drilling programs were conducted at the Matrix (816m) and Cousin Jack’s (360m) Prospects and aircore (AC) drilling was conducted at the Emu Lake (4,704m) Prospect.
    All assay results were returned for the RC programs with partial results returned for Emu Lake aircore. Assay results were also returned for previously reported RC drilling at Evelyn Gladys and diamond drilling at Jubilee Gift and Carmelia South.
    Anomalous gold results were returned from Carmelia South, Jubilee Gift, Evelyn Gladys and Matrix Prospects, drilled in the previous quarter.
    Exploration Incentive Scheme application

    An application for funding from the Western Australian State government’s Exploration Incentive Scheme was granted.
    The funding grant will enable a deep diamond drill hole to target a deep, major seismic reflector that is considered likely to represent the northern continuation of the Emu Fault through the Acra Project Area.

    • Matrix Reloaded: A target north along strike from known gold mineralisation at the small-scale Matrix open pit identified. Approximately 800m of RC drilling will test this geophysical target, with a further 1000m allocated to drilling beneath and along strike from the Matrix Pit.
    • Evelyn Gladys SW: An untested 700m wide package of mafic and ultramafic stratigraphy south west of Evelyn Gladys will be RC drilled to test for second order mineralised structures, sub-ordinate to the main Emu Fault zone.
    • Jubilee West: Approximately 1500m of RC drilling to test the mafic/ultramafic stratigraphy.
    • Jubilee Gift: Approximately 500m of RC drilling following up gold anomalies from previous drilling.
    • Geology map: Compilation of a 1:10K interpreted basement for the Acra Project from various existing mapping layers and logged lithology from recent drilling.
    Background Acra - Pre-Joint Venture

    An aeromagnetic survey over a large area of the Eastern Goldfields of Western Australia, including over the Company's Acra Project, was undertaken, with flight lines at 100m line spacing. This is a great improvement on the previously available data.
    The Company engaged Dr David Isles (Southern Geoscience Consultants) to generate gold targets within an area of 2,200 km², including the Acra Gold Project, using the new aeromagnetic data. This highlighted 14 areas for further work.
    Discovering Gold Deposits

    Prior to Pioneer, the Acra Project area had been held predominantly by base metal, rather than gold, explorers. This is despite the number of historical gold workings, including the Jubilee Gift, Mountain Maid, Evelyn Gladys, King Edward and Josephine. The Project also has a number of gold nugget patches more recently identified by prospectors.
    Over the past three years Pioneer has identified new, significant gold occurrences at Kalpini South, Jubilee East and Camelia South Prospects. These gold occurrences demonstrate the Project's gold endowment, and potential for the discovery of commercial deposits of gold within the 20 km long target zone.
    Drilling Results confirm gold endowment

    Kalpini South

    • KSRC004:10m at 6.38g/t from 61m
    • KSRC004: 5m at 3.29g/t from 100m
    • KSRC004: 8m at 1.45g/t from 85m
    • KSRC005: 9m at 5.31g/t from 36m
    • KSRC007: 13m at 3.31g/t from 94m
    • KSRC007: 12m at 0.91g/t from 113m
    • KSRC010: 3m at 5.44g/t from 128m
    • KSRC010: 8m at 1.41g/t from 85m
    • KSRC018: 18m at 1.98g/t from 97m
    • KSRC021: 6m at 1.89g/t from 85m
    • KSRC031: 9m at 6.17g/t from 60m
    • KSRC032: 7m at 1.93g/t from 106m
    • KSRCD024: 0.22m at 116.5g/t from 131m
    • KSRCD025: 2.2m at 12.17g/t from 145.42m
    Jubilee East

    • JERC002: 13m at 2.84g/t from 27m
    • JERC003: 2m at 12.42g/t from 57m
    • JERC007: 4m at 8.1g/t from 34m
    • JERC010: 7m at 2.6g/t from 101m
    • JERC038: 8m at 2.14g/t from 52m
    Kalpini South Gold Deposit

    Two reverse circulation drill holes completed at the Kalpini South Prospect confirmed the presence of reasonably shallow (from a depth of approximately 35m below surface) high grade supergene gold mineralisation, which is an excellent ore-style for open pit mining. This work was a precursor to further infill drilling, to enable a mineral resource to be estimated.
    • KSRC031: 9m at 6.17g/t Au from 60m. Includes high grade lode gold - 2m at 20.7g/t - at a depth of 55m vertically below surface (see Figure 2); and
    • KSRC032: 7m at 1.92g/t from 106m, including 3m at 3.56g/t, at a point 40m further ‘down-dip’ of the KSRC031 intersection.
    The two RC drill holes were completed as step outs from the Kalpini South discovery holes KSRC004 (10m at 6.38g/t1) and KSRC005 (9m at 5.31g/t1).
    Diamond Drilling

    Two RC holes were extended by diamond core drilling beneath the Kalpini South mineralisation.
    The drill holes intersected the prospective andesitic volcanoclastic unit, with iron-arsenic sulphide nodules and layers at the targeted depth, however no significant gold assays were returned from the intervals submitted for assay. Geological structure information obtained from the core is helping to clarify the orientation of the known mineralisation.
    New Target Generation Aircore Drilling Near Kalpini South and Deep River Areas

    Traverses of aircore drill holes were completed over a number of geochemical and geophysical targets adjacent to the Kalpini South Prospect and, on a more regional basis, potential gold structures at the Deep River Area. Drill holes that return gold anomalies will be further delineated by aircore drilling before target confirmation by RC drilling is completed.
    To date, approximately 15% of preliminary composite samples have been assayed. The balance, amounting to 784 composite and quality control samples, are currently being processed, with results expected by mid-February.
    Jubilee Gift

    Three close spaced, parallel, mineralised structures have been recognised through mapping old workings and correlating this with historical shallow RAB drilling. In this area the main working is the Jubilee Gift South Mine which produced 1,738 tonne of ore grading 22.4g/t between 1899 and 19032.
    Two RC holes drilled under the old workings returned anomalous values in preliminary composite assays.
    December 2018

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