Pioneer Resources commences lithium drilling at Pioneer Dome

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has kicked off a 5,000 metre RC drilling program, to test lithium targets, at the company’s 100 per cent-held Pioneer Dome project.

The company said the first five holes of nine planned traverses of holes have been completed across the PEG008 target.

All holes are said to have intersected multiple, steeply dipping zones of pegmatite, which is the rock unit Pioneer considers to be prospective for lithium mineralisation.

The first 100 samples are on their way to the laboratory, with results expected to be returned within a three week period, most likely later in September.

Pioneer indicated it would drilling and submission of samples throughout September, with the final assays expected by late October 2016.

The company described the PEG008 target as a 1.7 kilometre-long suite of differentiated pegmatites with a coincident lithium soil geochemistry anomaly.

The drilling will also test targets at PEG001 and PEG002.

Subject to results from the current drilling, Pioneer expects additional RC and diamond core drilling can immediately follow.

“We’re very encouraged with the geology and information gained from the drill holes completed at PEG008 to date, and the company looks forward to providing further updates to the market as the assays and other information comes to hand,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

Website: www.pioresources.com.au