Pioneer Resources (ASX:PIO) - Chairman, Craig Mcgown (left)
Chairman, Craig Mcgown (left)
Sourced: Pioneer Resources
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  • Pioneer Resources (PIO) has received promising nickel results from a recent drilling program at the Leo Dam prospect, which is part of the Blair-Golden Ridge Nickel Project in Western Australia
  • The drilling program consisted of six holes and aimed to test massive nickel sulphides that were first identified in 2017
  • Results graded as high as 3.11 per cent nickel
  • Four of the holes also recorded electromagnetic anomalies which indicate that massive nickel sulphides can be intersected
  • Pioneer is up 11.1 per cent and shares are currently trading for one cent each

Pioneer Resources (PIO) has received promising nickel results from a recent drilling program at the Leo Dam prospect.

The Leo Dam Prospect is part of Pioneer’s Blair-Golden Ridge Nickel Project which is located 30 kilometres southeast of Kalgoorlie in Western Australia and covers an area of 121 square kilometres.

Drilling at Leo Dam consisted of six reverse circulation (RC) holes, for 1771 metres, and aimed to test massive nickel sulphides which were first identified in December 2017.

Significant results include one metre at 3.11 per cent nickel from 178 metres, four metres at 1.35 per cent nickel from 175 metres, and one metre at 1.21 per cent nickel from 173 metres.

While the holes did not intersect any massive sulphides, the results are promising and warrant future drilling programs.

Copper and cobalt are usually present with nickel, and maximum grades of 924 parts per million and 1255 parts per million, respectively, were returned.

These six holes also went towards a down-hole electromagnetic (DHEM) survey which aimed to expand the effectiveness of a hole by locating ‘off-hole’ responses.

This determines the extent of the mineralisation in each hole and whether it should be followed up.

Four of the holes had a positive response, intersecting several electromagnetic (EM) anomalies.

“We are very encouraged by the results from the recent drilling and DHEM survey at Leo Dam,” Managing Director Tim Spencer commented.

“The fact that nickel sulphides were encountered in all six holes is a significant development. The results confirm that Leo Dam sits in a prospective channel for nickel sulphides – and there appears to be a strong EM conductor, which can indicate massive sulphides, below the depth of this drill program,” he added.

Subject to the impact of COVID-19, further work has been planned for the next three to six months.

Information regarding any upcoming drill programs and results will be released when possible.

Pioneer is up 11.1 per cent and shares are trading for one cent each at 11:02 am AEST.

PIO by the numbers
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