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Pioneer Resources Ltd.
Summary
| Project: | Golden Ridge | |
|---|---|---|
| Deposit: | Rocket, Leos Dam, Anomaly 13, Anomaly 14 | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 1/24/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-1-2018: Pioneer Resources Ltd. announces an Exploration/Drilling Update report for its Rocket, Leos Dam, Anomaly 13, Anomaly 14 deposit at the Golden Ridge project. Drilling results incl. 31m @ 0.15% Co, 0.37% Ni from 43m. Perth, Western Australia, 24 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Crook (Internal) | |
| ABSTRACT: | Perth, Western Australia, 24 January 2018: Pioneer Resources Limited ("Pioneer" or the "Company" (ASX: PIO)) is pleased to provide a summary of results from drilling undertaken in December 2017 at its 100%-owned Golden Ridge Project. The December 2017 drilling programme of 31 reverse circulation drill holes totalled 3,084 metres and focused on four cobalt targets: Rocket, Leo’s Dam, Anomaly 13 and Anomaly 14 Prospects. All prospects are located within granted mining leases and an exploration licence along the eastern flank of the Blair Dome, a geological structure within the Golden Ridge Project. 16 holes intersected significant cobalt mineralisation (see Table 1 below). This drilling programme is a consequence of a detailed review of the Golden Ridge drilling database specifically looking for cobalt mineralisation (refer to ASX Release dated 13 April 2017). The database holds records for holes drilled between 1975 and 2008 by other explorers and 2008 to the present by Pioneer, predominantly for nickel sulphide mineralisation indicators. Many samples were assayed for a range of elements, including cobalt, in addition to nickel. The Golden Ridge Project covers an area of 115 km2 of the Blair Dome and is located 30 kilometres south east of Kalgoorlie, WA. The Project is considered highly prospective for lateritic cobalt mineralisation hosted within a well-developed weathered-ultramafic rock mantle, as well as nickel sulphide mineralisation. | |
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