Pioneer Resources (ASX: PIO)

THE CONFERENCE CALLER: Wally Graham caught up with Pioneer Resources managing director David Crook who was awaiting the results of recent drilling at the company’s Cade spodumene deposit.


Pioneer Resources (ASX: PIO) reported receiving assay results from a recently completed drilling program on the Cade spodumene deposit, within the company’s 100 per cent-owned Pioneer Dome lithium-caesium-tantalum project in Western Australia.

Pioneer Resources conducted the drilling in order to test two lithium-caesium-tantalum (LCT) pegmatite targets beneath the previously reported discovery outcrops.

In July this year the company reported that spodumene-bearing LCT pegmatites had been discovered by its geologists at two locations within the Dome North Area.

The company has claimed to have confirmed the discovery of dominantly spodumene-rich deposits.

Assays have been received for drill holes PDRC263 to PDRC277, while those for holes PDRC278PDRC288 are still awaited.

PDRC263 was the discovery drill hole for the Cade spodumene deposit, intersecting:

113 metres at 1.04 per cent lithium dioxide (Li2O).

The company explained this drilling intersected the mineralised pegmatite at an angle near-parallel to the plunge orientation, so while the 113 meters is not truly representative of width, the company considers this hole does give an indication of mineralisation continuity with depth.

Results from further holes drilled at right angles to the Cade spodumene deposit, meaning that the reported intersections are close to ‘true width’, included:

25 metres at 1.61 per cent Li2O;

33m at 1.63 per cent Li2O;

18m at 1.47 per cent Li2O;

23m at 1.36 per cent Li2O; and

10m at 1.60 per cent Li2O.

Results from drilling at the Spodumene 1 Target included:

10m at 1.08 per cent Li2O and 129ppm tantalum pentoxide (Ta2O5).

Pioneer indicated it anticipates receiving the remaining assays before the end of September 2019.

“Having successfully completed its first mining operation at the Sinclair caesium mine, and now well-funded through the sale of pollucite, Pioneer returns to being an active explorer focused on key global demand-driven commodities, looking for its next mining opportunity,” Pioneer Resources said in its ASX announcement.