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Pioneer Resources Ltd.
Summary
| Project: | Pioneer Dome | |
|---|---|---|
| Deposit: | Sinclair | |
| Location: | Australia | |
| Commodities: | Lithium-Caesium-Tantalum-Rubidium | |
| Date: | 7/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-7-2018: Pioneer Resources Ltd. announces an Exploration/Drilling Update report for its Sinclair deposit at the Pioneer Dome project. Drilling results incl. 39.53m @ 11.18% K2O, 17.98% Al2O3, 0.4% Rb2O, 62.17% SiO2 from 0m. Perth, Western Australia: 30 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Crook, David Turvey (Internal;Independent) | |
| ABSTRACT: | Perth, Western Australia: 30 July 2018: Pioneer Resources Limited (the "Company" or “Pioneer”) (ASX: PIO), is pleased to provide drilling results showing that a market-significant volume of potassium feldspar occurs above the Sinclair Zone Caesium Deposit, at the Company’s 100%-held Pioneer Dome Project, located approximately 140km south of Kalgoorlie, Western Australia. The Company is working towards opening the Sinclair Mine, an open pit to extract the Sinclair Zone Caesium Deposit which, subject to final approvals, should commence during the current Quarter. While the economics of the Sinclair Mine have been established based on the sale of caesium only, mining will also extract potassium feldspar, lithium minerals (petalite, lepidolite) and quartz. Each mineral will be stockpiled separately, and commercial arrangements for each advanced. On 20 June 2018, Pioneer announced that it has entered into an offtake agreement with Cabot Specialty Fluids Ltd to buy 100% of the caesium ore extracted from the proposed Sinclair Mine. Potassium feldspar is used in the manufacture of ceramics and glassware, especially in glazes for “hardwearing” tableware and floor tiles, and as a key component of advanced “high-tolerance” insulators and electro-ceramics. Potassium feldspar is an internationally traded mineral product with a nominal value US$50-100 / tonne (lump), depending on the point of sale, quality, consistency and end-use application | |
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