Pioneer Resources Encounters Further Sinclair Lithium Mineralisation

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has hit further thick zones of lithium mineralisation whilst drilling at the company’s 100%-held Pioneer Dome project in the Eastern Goldfields of Western Australia.

The Pioneer Dome project includes Pioneer Resources’ proposed Sinclair Zone caesium mine over which it recently received approval for the Mining Proposal.

Pioneer’s recent drilling included 44 drill holes, which returned noteworthy lithium intersections, including:

27m at 1.86 per cent lithium oxide (Li2O) from 46m (Lepidolite)

11m at 3.15% Li2O from 52m (Mixed)

22m at 1.98 per cent Li2O from 37m (Petalite)

27m at 1.60 per cent Li2O from 35m (Petalite)

15m at 2.47 per cent Li2O from 36m (Petalite)

17m at 1.90 per cent Li2O from 39m (Lepidolite)

21m at 1.83 per cent Li2O from 33m (Petalite)

15m at 2.59 per cent Li2O from 39m (Petalite)

21m at 1.65 per cent Li2O from 42m (Mixed)

Pioneer flagged it has fielded enquiries from third parties interested in purchasing parcels of lepidolite, petalite or mixed lithium mineralisation that can be excavated from the Stage 1 Sinclair caesium mine or from an extended Stage 2 Pit.

“The company’s first proposed mining operation, the Sinclair caesium mine, is advancing rapidly with approvals now in place,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“Recent drilling results have confirmed the continuity of the pollucite mineralisation, and the potential to derive further income from the sale of potassium and lithium minerals significantly de-risks the project from an ore supply perspective and enhances the economic returns.”