Pioneer encouraged by Acra drilling

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THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has been encouraged by recent drilling activities at the company’s 100 per cent-held Acra gold project, located north east of Kalgoorlie in Western Australia.

The company has received results from the Carmelia South Prospect where a program of 22 shallow aircore holes tested for gold mineralisation.

 

Cross section through the Carmelia South prospect showing likely ‘supergene’ gold intersections. Source: Company announcement

 

Of the 22 holes drilled to test the soil geochemistry anomaly, seven intersected anomalous gold, which Pioneer considers has validated the target as well as further confirming the potential for the discovery of a gold deposit within the project.

Better intersections included:

CSAC013
3 metres at 2.45 grams per tonne gold from 30m;

CSAC018
6m at 4.39g/t gold from 57m; and

CSAC028
6m at 3.77g/t gold from 96m to the end of the hole.

Pioneer also drill an additional 10 holes into a target 400m south east of the main Carmelia South prospect, which encountered anomalous gold mineralisation in CSA003 of 3m at 0.90g/t gold.

Pioneer acquired the gold rights for the Acra project in 2013 having been attracted by the projects large tenement package, existence of widespread gold anomalies including modern geochemistry and artisanal-scale gold workings as well as its proximity to the mining centre of Kalgoorlie.

“The company believes that the project has the capacity to yield one or more gold deposits which will benefit from having the necessary mining services already established nearby,” Pioneer Resources said in its ASX announcement.

“For over 40 years explorers have focused on the nickel potential of the Acra project, however in doing so, their work also generated an excellent gold database.

“By interrogating this information Pioneer has identified at least 10 gold targets that occur along a 50 kilometre section of the Emu Fault.”

Drilling by the company since acquiring the project has intersected gold mineralisation at four prospects so far.

The company indicated it has progressive work programs planned for other prospects, which include:

Carmelia South: Following the completion of the aircore drilling, the next work will be RC drilling.

Mountain Maid, King Edward, Josephine, and Evelyn Gladys: A 3km by 1.5km area with old gold workings and modern nugget patches.

Kalpini South, Rainbow, Deep River: Previous drilling in the 1980s-90s intersected anomalous gold in a 5km long corridor.

Jubilee East: RC drilling will further test mineralisation intersected by Pioneer in 2013, including: 13m at 2.84g/t gold from 27m, 4m at 8.1g/t gold from 34m, and 2m at 9.03g/t gold from 43m.

The Matrix: A 2km gold-arsenic geochemical anomaly and recent nugget patch.

Website: www.pioneerresources.com.au