Pioneer Resources continues encouraging results from Acra

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THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has received encouraging results from the latest phase of drilling to be undertaken at the company’s 100 per cent-owned Acra gold project, located in the eastern goldfields region of Western Australia.

Pioneer’s latest phase of drilling at the Acra gold project consisted of a 10 hole RC drill program, which was carried out at the Kalpini South prospect.

 

Kalpini South prospect Long Section showing drill hole pierce point
through the plane of mineralisation. This highlights the steep plunge of
mineralisation (centre) that the mineralisation is truncated and
possibly offset to the south east (left); and that mineralisation is
open at depth. Source: Company announcement

 

The company said the drilling had confirmed a core of westerly plunging gold mineralisation with additional potential indicated further down plunge.

Highlighted results included:

KSRC018
12 metres at 2.62 grams per tonne gold from 98 metres, including 1 metres at 10.65 grams per tonne gold.

The Kalpini South prospect is located at the northern end of the Acra gold project and is one of ten gold targets pioneer has identified within the project it plans to progressively test along a 20 kilometre chain of targets.

The company has already completed a fixed loop EM survey over the Kalpini South area, which has indicated offsets to the conductive host-rocks, providing new adjacent drill targets.

Pioneer considers Kalpini South to be a southern extension of KalNorth Gold Mines’ (ASX: KGM) Kalpini gold field, which has a total Indicated and Inferred Mineral Resource of 237,600 ounces of gold.

Pioneer indicated exploration at the Acra project is one of a series of targeted explorations programs it plans to conduct in its 2014 field season.

The company’s most advanced prospects at the Acra project are the Kalpini South and Jubilee East -located 15km southwest along strike – prospects.

However, the company has also been encouraged by drill results have it has achieved from its Carmelia South and Evelyn Gladys prospects.

Upcoming exploration, including RAB drilling, will now focus on the nearby Kalpini target, as well as other targets south along strike at Mountain Maid, Carmelia South, and the Matrix and Jubilee main workings.

Email: pioneer@pioresources.com.au

Website: www.pioneerresources.com.au