Food for thought. Another company Exg is 30 – 50 kilometres north of Kalgoorlie with a series of leases there and are gathering working capital by operating a series of Open satellite pits cheaply and utilising a local mill for processing. Their share price has seen an upward movement recently up from 6c to 14c...it is now fluctuating around 10s..
PIO on the other hand has acquired prime tenements in Nickel, Lithium and Gold projects in WA and their Acra gold workings are 60 kilometres NE of Kalgoorlie which are also in the North Kalgoorlie Goldfields..Hello..They have had pleasing assay results from Acra recent drilling:-
Managing Director David Crooks said.......
“We will commit to drilling programs to reach the next commercial decision point as soon as possible.” He said. Three phases of drilling demonstrate that the Acra Gold Project is advancing: • Aircore drilling geochemistry extends Kalpini South target by 60% - to 240m. Extension has coincident EM conductor (likely detecting pyrite-arsenopyrite sulphides – host to primary gold at Kalpini South); • High grade gold (9m at 6.17g/t Au) intersected in RC drilling at Kalpini South demonstrates presence of a shallow, supergene gold deposit (see release to ASX 18 December 2015); • Diamond drilling indicates that multiple gold-in-sulphide lodes are present; • Aircore drilling generates new targets, highlighting potential for further gold discoveries, including: KPAC078: 21m at 1.0g/t Au, including 3m at 4.6g/t Au from 42m, at the Deep River Prospect..”.
These results indicate potential for shallow pit satellite mining possibility for starters (underground mining at a later stage perhaps)which would be a great basis for working capital for PIO's other exciting lithium and nickel projects on board...I'm sort of glad I got onto this one early. I apologise if anyone has brought this up earlier but I thought it was a touch exciting..
PIO Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
