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Pioneer Resources Ltd.
Summary
| Project: | Golden Ridge | |
|---|---|---|
| Deposit: | Leos Dam | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 5/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-5-2019: Pioneer Resources Ltd. announces an Exploration/Drilling Update report for its Leos Dam deposit at the Golden Ridge project. Drilling results incl. 80m @ 5638ppm Ni, 146ppm Cu, 2471ppm Cr from 27m. On 25 March 2019 the Company announced that ge | |
| Resources: | (Resource, I+I): 222.71Kt @ 2.92% Ni for 6.51Kt contained at Blair Nickel Mine | |
| CP/QP: | [Overall Report]: David Crook (Internal) | |
| ABSTRACT: | On 25 March 2019 the Company announced that geochemistry drilling using an aircore rig had commenced at the Leo’s Dam Target, approximately 2km NE of the Blair Nickel Mine. The programme was designed to test the extent of ultramafic rocks showing evidence of fertility for nickel sulphide mineralisation, following on from the 2018 discovery hole, GRRC038, which intersected nickel sulphides grading 1.02% Ni and 475ppm Cu over 22m. The programme comprised seven traverses of aircore holes drilled to sample a pervasive layer of weathered rock which overlays the project. Holes were commonly drilled to between 60 and 107m deep. In total, 60 aircore holes were drilled for 4,142m. Litho-geochemical data is used to interpret the presence of, and the fertility of, ultramafic rocks as a potential host for nickel sulphide mineralisation. In particular, nickel, chromium, magnesium and copper can provide evidence of the correct geological environment and whether nickel sulphides may be present in unweathered rock. When holes that returned a positive ‘nickel sulphide vector’ from this programme are collated with earlier drilling, a multi-element geochemical anomaly is evident that exceeds 1 kilometre in length, which will be a priority area for further drilling. Pioneer Managing Director David Crook said; “when we intersected nickel sulphides at the Leo’s Dam Target in 2018 we greatly increased our understanding of the prospectivity of the Golden Ridge Project and added validity to the Company’s Blair Dome geological model. The results from April’s drilling are consistent with the model with geochemical anomalies highlighting the Leo’s Dam ultramafic unit as a valid target for future work.” While not yet scheduled, further drilling may be undertaken later in 2019. | |
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