Pioneer Resources Completes Initial Drilling Cade Spodumene Deposit

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) completed its inaugural drilling program, targeting lithium mineral spodumene, hosted in lithium-caesium-tantalum (LCT) pegmatite rocks, at the company’s 100 per cent-owned Pioneer Dome North group of prospects in Western Australia.

Pioneer Resources explained that all drill samples of intersected pegmatite are now in the laboratory for analysis, the results for which are expected by the end of next week.

The company reported earlier this year that spodumene-bearing LCT pegmatites had been discovered by its geologists at two locations within the Dome North Area who recorded spodumene mineralisation intersected beneath the discovery outcrops.

The recent drilling consisted 29 reverse circulation (RC) drill holes completed at the initial two targets, 21 of which intersected pegmatite.

The program was subdivided into two drill areas:

The Cade deposit (previously Spodumene Target 2) was tested with 24 holes with 14 intersecting the tabular pegmatite dyke, which, horizontally, is approximately 800m long, with a maximum thickness of 35m, extending down plunge to at least 311m.

Two holes intersected a separate, previously unrecognised pegmatite (Spod3) to the northeast of the Cade Pegmatite.

Five holes were completed at Spodumene Target 1, all of which intersected pegmatite, with a maximum thickness to date of 15m.

“The inaugural drilling program at Dome North has been an unqualified success, identifying the presence of multiple spodumene-bearing pegmatite dykes,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“This provides the basis for an intensive exploration program to delineate what we hope will be a substantial group of deposits.

“With the proceeds from the sale of Sinclair pollucite, the company is well funded to advance the project.”