LITHIUM-CAESIUM DISCOVERY AT PIONEER DOME (Lithium) 7m at 1.52% Li2O and (High Grade Caesium) 6m at 27.7% Cs2O Perth Western Australia, 4 October 2016: Pioneer Resources Limited ("Company" or "Pioneer", ASX: PIO) is pleased to provide the following update regarding its 100%-held Pioneer Dome Lithium Project. • The first batch of assays received, including: 7m at 1.52% Li2O from 52m in PDRC015. Petrology and XRD underway to confirm mineralogy; • Similar mineralogy is visually observed in drill holes over a strike length of 400m. The second batch of analyses is expected later this week; • PDRC015 also intersected very high grade caesium: 6m at 27.7% Cs2O from 47m; • The presence of lithium and high grade caesium confirms that the Pioneer Dome hosts highly prospective differentiated LCT pegmatites. Lithium Discovery Confirmed The Company has completed the first pass of drilling at 3 targets at its 100%-held Pioneer Dome Lithium Project, and the first batch of assays has been received. The programme saw 64 reverse circulation (RC) drill holes completed for 5,200m at the PEG001, PEG002 and PEG008A pegmatite and geochemistry targets, and confirmed unequivocally that the Project hosts rare-metal LCT Pegmatites. Assays have been received for holes PDRC001-PDRC015, drilled into the southern end of the PEG008A pegmatite (refer to Figure 1). Drill holes PDRC010 to PDRC028 were collared on 160m spaced drill traverses with holes spaced at 40m on each traverse. Infill holes, PDRC055-PDRC063, were drilled on a 80m x 40m spacing around the visually encouraging PDRC015 and PDRC021. Assays are pending for holes numbered PDRC016-PDRC065. Lithium The PEG008 lens is up to 80m thick with mineral differentiation evident, which has resulted in a quartzrich core encompassed by silicate mineral zones. PDRC015 returned 7m at 1.52% Li2O from 52m. Samples from PDRC015 have been submitted for petrology and XRD analyses to identify all lithiumbearing minerals in what is a highly differentiated rare-metal pegmatite body. (Refer Figure 2). Caesium PDRC015 also returned 6m of high grade caesium grading 27.7% Cs2O from 47m, likely to be contained in the mineral ‘pollucite’. The largest known deposit of pollucite is at the Tanco Mine, owned and operated by Cabot Corporation at Bernic Lake, Manitoba, Canada. Further information for caesium and the Tanco Deposit is readily available, including from (Tuck (USGS) 2015) and Martins et al (2013). By gross weight, the greatest use of caesium is in the manufacture of formate brines for highpressure/high-temperature oil and gas drilling and exploration. Pioneer Dome Exploration Programme Continuing • Soil sampling has resumed: A further 5,000 samples have been taken from targets at PEG003, 004, 006, 009, 010, BB, BBSth and Franks Find. Sampling is continuing. • A new tenement application (E63/1825) increases the Company’s tenement holding in the Norseman area (centred on the Pioneer Dome) to 10 exploration licences covering 545km2 . The new tenement is the southern-most tenement shown in Figure 1 below. Figure 1: LHS Pioneer Dome Project Tenements over aeromagnetic imagery, showing the location of known pegmatites PEG001-PEG014, and recently acquired E63/1825, the southern-most tenement shown. RHS Enlargement of PEG008 showing location of drill hole collars and PDRC015. Photograph 1. RC drill hole PD001 is collared at the southern traverse of PEG008A Photograph 2. Drill hole PD015 reached a depth of 108m, and show 103 x 1m sample piles of white pegmatite. Figure 2: Schematic cross section of PEG008 showing the location of mineralisation in drill hole PDRC015. Pioneer’s Managing Director said “We're very encouraged with the information gained from the first drilling and particularly hole PDRC015, which marks a new lithium and caesium discovery. The Company looks forward to providing further updates to the market as more assay results and other minerology information comes to hand.”
PIO Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
