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Pioneer Resources Ltd.
Summary
| Project: | Pioneer Dome | |
|---|---|---|
| Deposit: | Pioneer Dome | |
| Location: | Australia | |
| Commodities: | Lithium-Caesium-Tantalum | |
| Date: | 12/13/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-12-2016: Pioneer Resources Ltd. announces an Exploration/Drilling Update report for its Pioneer Dome deposit at the Pioneer Dome project. Drilling results incl. 7m @ 16.2% Cs2O from 47m. Perth Western Australia, 13 December 2016: Pioneer Resources Limi | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Crook, Paul Dunbar (Internal;Independent) | |
| ABSTRACT: | Perth Western Australia, 13 December 2016: Pioneer Resources Limited ("Company" or "Pioneer", ASX: PIO) is pleased to provide a drilling update for its 100%-held Pioneer Dome LCT Pegmatite Project in the Eastern Goldfields of Western Australia, and notifies of a delay to the drilling programme at Mavis Lake, Canada. The Company advises that it has completed a programme of close-spaced drill holes, comprising 18 reverse circulation (“RC”) and 6 pre-collared diamond core holes, totalling 24 holes for 1,785m, including 215.7m of HQ core. Generally, holes were spaced on a 10m x 10m grid. Assay results from the first priority RC hole (drill hole PDRC074) from the current programme have now been received. This includes a strongly mineralised caesium intersection, of 7m at 16.2% Cs2O from 47m and 6m of 1.65% Li2O from 56m, and confirms an extension to the pollucite mineralisation intersection in discovery hole PDRC015, (assays announced to ASX on 17 October 2016 and Mineralogy announced on 14 November 2016). Visually, nine drill holes have now intersected the lens of high-value caesium mineralisation, likely to be pollucite (with assays received from PDRC015 and PDRC074 only to date), over a strike length of approximately 60m. Mineralisation remains open to the south, trending into an area where additional caesium geochemistry anomalies are present. Pollucite is a rare mineral of caesium that forms only in extremely differentiated zones of rare-metal lithiumcaesium-tantalum (“LCT”) pegmatite systems. It is found in commercial quantities at the Tanco Mine in Canada and Bikita Mine in Zimbabwe, where it is mined for use in the manufacture of Caesium Formate, a high density fluid used in high temperature/high pressure oil and gas drilling. Caesium Formate provides a number of well documented benefits, including: minimal damage to the hydrocarbon-bearing formation resulting in higher production rates, it acts as a lubricant, is non-corrosive and is considered a benign chemical when compared to alternatives. | |
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