Pioneer Resources hits 18m of Spodumene-Bearing Pegmatite at Mavis

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) reported further developments from the first hole of a program of oriented diamond core drilling at the company’s Mavis Lake lithium project, in Ontario, Canada.

Following on from a release earlier in the week, Pioneer released a qualified statement claiming the first drill hole, MF-17-39, has intersected 18 metres of spodumene-bearing pegmatite between 79.9m and 97.9m down-hole.

Pioneer said the intersected spodumene zone is described as having broken crystals, with the largest spodumene crystal parallel to the core axis measuring approximately 45cm in length.

Pioneer explained that hole MF-17-39 was designed to intersect the high-grade lithium pegmatite in the vicinity of the historic intersections, down dip from where Pegmatite 6 is observed in outcrop at surface.

The objective was to drill from an oblique angle to historic drilling to assist in determining the attitude of Pegmatite 6 at depth.

A second drill hole, MF-17-40, is currently drilling ahead, located at the same setup point as MF-17-39, but with an azimuth of 40 degrees the hole is designed to intersect Pegmatite 6 at a greater depth.

Pioneer hapoes this will provide additional data to assist in determining the geometry, through triangulation, of the spodumene-bearing pegmatite intersected by previous drilling.

“Pioneer will continue to update the market about the progress of drilling at Mavis Lake as the program advances,” Pioneer Resources said in its ASX announcement.

“Drilling is expected to take up to 30 days to complete and assay results are expected to be available by the end of March 2017.”

Website: www.pioresources.com.au