19 January 2012
ABN: 44 103 423 981
Tel: +61 8 9322 6974
Fax: +61 8 9486 9393 email: dcrook@PIOresources.com.au
Address: 21 Ord Street
West Perth Western Australia
Postal: PO Box 1787
West Perth
Western Australia 6872
ASX/Media Announcement
Exploration Update
Mt Jewell Gold Project, including Mt Jewell Regional
• Mining Lease pegged covering the Tregurtha and Hughes Gold Deposits
• Metallurgical studies evaluating conventional CIP processing and heap leach amenability progressing
• Geophysical gravity survey to cover 490km2 for advanced targeting
• Environmental approvals (POW's) lodged ahead of RAB drilling
Juglah Dome Gold Project
• Orientation drilling at the Juglah Dome Gold Project returns gold from 2 targets
• Target refining via soil sampling commences
Pioneer Resources Limited (ASX: PIO) is pleased to provide
the market with an update which includes its planned work
programs for the first quarter of 2012. The work priorities
are: a) to progress the Tregurtha and Hughes Gold Deposits as
mining propositions; b) to refine known gold anomalies ahead
of drilling; and c) to evaluate new areas for appraisal.
The Mt Jewell Gold Project is located 55km north of
Kalgoorlie, WA. In August 2011 the Company announced an
initial Mineral Resource estimate of 185,600oz* for the
project and exploration activities are focussed on advancing
the project towards mining; while expanding the resource base
from within the Company's large, 100%-held, tenement
portfolio - an area of over 900km2.
The Juglah Dome Gold Project is an increasingly important
project for the Company following a successful orientation
RAB drilling program, which returned 3 strongly anomalous
holes. The Project is located some
5km south east of the Majestic Gold Deposit, a recent
discovery by Integra Mining Limited which has a preliminary
Probable Mineral Resource estimate of 1.36mt at 2.23g/t.**
* Summarised from an ASX announcement made by Pioneer Resources Limited dated 15 August 2011.
** Summarised from an ASX announcement made by Integra Mining Limited dated 25 July 2011.
OUTLOOK
Mt Jewell Gold Project
• Mining and Environmental impact studies which are necessary
to achieve the grant of the Tregurtha and Hughes Mining Lease
will continue
• Metallurgical studies of specific material from the
Tregurtha and Hughes Gold Deposits will include a) bottle
leach tests of fresh +6.3mm fraction to provide a very basic
emulation of a heap leach operation; and b) conventional CIL
consumable and recovery testing for the -6.3mm samples
• Subject to the results of the metallurgical test work,
diamond core drilling and column-leach testing for the
Tregurtha and Hughes Prospects will follow.
Mt Jewell Regional
• A Gravity geophysical survey has commenced, which will
cover the eastern half of the Mt Jewell Gold Project. Gravity
survey data provides valuable structural information when
appraising large tenement areas. The survey will cover
490km2
• Detailed soil sampling programs will test (initially) 4 Mt
Jewell gold targets. The program will see about 5,000 soils
taken and analysed using a very low detection limit
multi-element analysis
• An environmental approval (POW) application has been lodged
ahead of proposed RAB drilling at 3 of the anomalous areas
referred to above. The application is for up to 15,000m of
drilling which is expected to commence in March 2012
• Multi-element and hyperspectral analysis of end of hole
samples for Criterion and Grand Prospects to facilitate
targeting future drilling.
Juglah Dome Gold Project
• Three holes, two at the JWT and one at Moonbaker Prospects,
intersected very anomalous gold and thus these become the
first priority targets for the next phase of work. Other
anomalous gold
results were encountered at FFB Prospect.
Table 1 Strongly Anomalous RAB Results: Juglah Dome Gold Project | |||||||
Hole ID | East (m) | North (m) | From (m) | To (m) | Intercept (m) | Grade Au (g/t) | Prospect |
JDRB0194 | 406,433 | 6,572,907 | 21 | 24 | 3 | 0.917 | Moonbaker |
JDRB0223 | 406,818 | 6,572,679 | 16 | 17 | 1 | 1.507 | JWT |
JDRB0267 | 406,800 | 6,572,637 | 19 | 20 | 1 | 1.185 | JWT |
• Detailed soil sampling programs will test 6 gold targets.
The program will see about 4,500 soils taken and analysed
using very low detection limit multi-element analysis.
• 10,000m of RAB drilling to systematically test Juglah Dome
gold anomalies is expected to commence in April 2012.
Yours faithfully
Managing Director
Further information: Pioneer Resources Limited Telephone: (+61-8) 9322 6974
About Pioneer Resources LimitedPioneer Resources Limited (ASX: PIO) is a specialist exploration company searching for gold and base metals in the Kalgoorlie District of Western Australia. The Company strives to create shareholder value by combining work on advanced projects with active project generation from within the Company's 100%-owned and joint venture tenement portfolio.
Glossary"RAB" means rotary air blast, a cost-effective drilling technique used to geochemically sample weathered rock. "CIL" means Carbon in Leach, a common gold extraction process
Drill hole collar positions were determined by GPS. GDA94-51 datum.
Analytical results by Genalysis Laboratories Pty Ltd: 50g Fire Assay, 0.01g/t lower detection limit. Length weighted average grade reported.
Intercepts are "down-hole" metres. No estimate regarding true thickness is made or implied.
Responsible PartiesThe information within this report as it relates to geology and mineralisation was compiled by Mr David Crook who is a full time employee of Pioneer Resources Limited, a member of The Australasian Institute of Mining and Metallurgy (member 105893) and is a Competent Person as defined by the 2004 JORC Code, having five years experience which is relevant to the style of mineralisation and type of deposit described in the Report. This person consents to the inclusion of this information in the form and context in which it appears in this report.
A summary of the Company's activities is presented in a fact sheet and other reports available from the Company's web site at www.PIOresources.com.au
Figure 1: Pioneer tenements, with emphasis on the Mt Jewell and Juglah Dome Gold Projects and showing the location of work programs which will are under way or will commence during the March 2012 quarter.
distribué par | Ce noodl a été diffusé par Pioneer Resources Limited. Il a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-19 10:01:05 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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