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Pioneer Resources (ASX:PIO) updates market on Pioneer Dome Project
  • Pioneer Resources (PIO) has updated the market on its second lithium drilling program at the Pioneer Dome Project
  • The completed program consisted of more than 8000 metres of reverse circulation drilling and more than 640 metres of diamond drilling
  • The program was successful and all samples have now been dispatched to the laboratory
  • Pioneer's share price is sitting in the grey today with shares currently trading for 1.3 cents apiece

Pioneer Resources (PIO) has updated the market on its second lithium drilling program at the Pioneer Dome Project.

The highly prospective Pioneer Dome Project is located approximately 130 kilometres south of Kalgoorlie and 200 kilometres north of Esperance in Western Australia.

Following a review of historic exploration reports, the project is recognised as having potential for lithium mineralisation.

The reports recorded numerous pegmatite intersections in nickel and gold focused drilling completed since the 1960s.

Consisting of 8365 metres of reverse circulation drilling and 642 metres of diamond drilling, the program focused in the Dome North group of lithium prospects where a group of spodumene-bearing pegmatites were discovered.

Key objectives of the program included testing for extensions of the 8.2 million tonne at 1.23 per cent lithium oxide mineral resource.

Other objectives include providing an initial test of the spodumene target 3 and undertaking initial diamond core drilling in the Cade Deposit to provide samples for metallurgical testing.

This program was successfully completed in December and all samples dispatched to the laboratory.

As a result from the backlog of work at the assay laboratory and the Christmas New Year break, final assay results are now expected to be received by the end of January.

As soon as they have been received, processed and interpreted, the results will be reported to the market. Subject to further delays, Pioneer expects that this will occur in early February.

The company will also release its December quarterly report next week.

Pioneer's share price is currently in the grey with shares trading for 1.3 cents apiece at 3:17 pm AEDT.


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