Pioneer Resources Highlighting the C benefits of LCT
THE INSIDE STORY: Pioneer Resources has a clear and committed focus on exploring for and developing new-technology minerals – mainly lithium and cobalt.
Pioneer has accumulated a portfolio of high quality lithium and cobalt assets in Western Australia and Canada, which it has been rapidly advancing.
The company’s main focus is the Pioneer Dome lithium-caesium-tantalum (LCT) project in the eastern goldfields of Western Australia.
To date, 19 targets have been identified and prioritised along a current strike length of 20 kilometres, and drilling has confirmed the project holds potential for the discovery of a lithium spodumene deposit.
Highlight drilling intersections to date include:
11 metres at 2.63 per cent lithium dioxide (Li2O) from 44m;
6m at 3.66 per cent Li2O from 47m; and
5m at 2.22 per cent Li2O from 47m.
The small resources sector is familiar with lithium-caesium-tantalum projects, with most focusing on the lithium aspect.
This changed for Pioneer with the world class caesium discovery at the Sinclair Zone at Pioneer Dome in October 2016.
Sinclair is a pollucite deposit; pollucite is a rare caesium mineral found in extremely differentiated LCT pegmatite systems.
The world’s supply of pollucite is highly constrained and is primarily used to manufacture caesium formate brine, a high-density fluid used in oil and gas drilling.
“The company’s priority is to expedite the commercialisation of the Sinclair caesium Zone,” Crook said.
“A Mining Lease application has been submitted and the next step is the development of an exploration decline to facilitate the extraction of a 5,000 tonne bulk sample of direct shipping quality pollucite for metallurgical processing.
“We will then move to select the mining contractor for the bulk sample mining and then go ahead with the extraction of the bulk sample, and our timetable indicates we will complete this work in the second half of the 2017.”
Pioneer confirmed a maiden pollucite Mineral Resource Estimate at the Sinclair Zone in March this year, of: 10,500 tonnes of pollucite at 17.1 per cent caesium oxide (Cs2O) in the Measured category.
This makes the Sinclair Zone the world’s third largest known pollucite deposit.
The company is currently in ongoing, advanced negotiations with potential off-take partners, and aims to conclude these arrangements by the end of the calendar year.
Once pollucite is in production, Pioneer plans to utilise the free cashflows generated to accelerate the exploration and development of its other main projects.
At Pioneer Dome, this will include further drilling of multiple lithium spodumene targets where the company has a Farm-in Agreement with Lepidico (ASX: LPD) over the PEG009 lepidolite target within the project area.
The Farm-in provides Pioneer with a solution to unlock the potential lepidolite value at Pioneer Dome, and so far results from the work undertaken by Lepidico have identified the lepidolite mineralisation at Pioneer Dome is suitable for extraction via Lepidico’s L-Max process, which produces lithium carbonate directly from lepidolite.
In Canada, Pioneer has an Option Agreement and Strategic Alliance with International Lithium Corp (TSX.V: ILC) to earn up to an 80 per cent interest in the Mavis Lake and Raleigh lithium projects, in the province of Ontario.
An exploration budget of C$1 million has been allocated to these projects, and Pioneer has completed a highly successful maiden 12 hole drill program at Mavis Lake.
Four holes were drilled at the Fairservice target and all intersected thick spodumene-bearing pegmatites.
Seven holes were drilled at the PEG018 target and all intersected spodumene pegmatites with thicknesses between 1.5m and 9.85m, and the target remains open to the east and west and at depth.
Plans are currently underway for follow up drilling at Mavis Lake, which is planned for the current quarter.
Closer to home, Pioneer recently completed a review of the cobalt potential at the Blair Dome project, 35 km south east of Kalgoorlie that identified six cobalt targets with multiple, broad zones of high-grade cobalt mineralisation, from historic drilling.
Highlight results included:
12m at 0.266 per cent cobalt from 106m; and
10m at 0.257 per cent cobalt from 34m.
These cobalt results represent an extra string to the Pioneer bow, and the company is planning a targeted exploration campaign at Blair Dome, including drilling, to unlock its full cobalt potential.
Pioneer Resources Ltd. (ASX: PIO)
… The Short Story
HEAD OFFICE
21 Ord Street
West Perth WA 6005
Ph: (08) 9322 6974
Email: pioneer@pioresources.com.au
Web: www.pioneerresources.com.au
DIRECTORS
Craig McGown, David Crook, Wayne Spilsbury, Allan Trench