THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has identified two spodumene-bearing pegmatites at the Dome North prospect within the company’s 100 per cent-held Pioneer Dome project near Norseman in Western Australia.
Pioneer Resources identified the two targets from recent mapping and rock sampling, resulting in the first time that spodumene, a major source of lithium, being identified within the Pioneer Dome project.
Spodumene Target 1: Orientation rock chips assays returned 1.4 per cent lithium oxide (Li2O); 1.71 per cent Li2O and 1.73 per cent Li2O.
Pioneer said these and a further four samples of outcropping rocks were confirmed as containing spodumene using a Bruker Bravo Raman spectrometer.
Samples were taken over a strike length of 150 metres.
Spodumene Target 2: 18 rock chips containing spodumene were taken along 400m of outcropping pegmatite before becoming covered by soil.
Spodumene was again confirmed by Raman.
Pioneer has submitted both targets for confirmatory chemical analysis, however, it did acknowledge that it already considers both targets drill ready.
The company has completed a program of extensional drilling at its Sinclair pollucite mine and is currently waiting on assay results.
The drilling encountered lithium mineralisation (lepidolite and petalite) along strike, running approximately 150 metres to the north of the northern pit wall and 80 metres to the south of the southern pit wall.
Pioneer has now received payments totalling US$2.6 million for sales of pollucite, from which it has repaid the loan facility of US$4.8 million provided by offtake partner Cabot Specialty Fluids Limited.
The Resources Roadhouse spoke with Pioneer Resources CFO Tim Spencer at the 2019 Gold Coast Investment Showcase to get the lowdown on the company’s recent progress.