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  • Pioneer Resources Identifies Three Nickel Exploration Targets At Fairwater In Albany Fraser 0 comments
    Jun 24, 2013 1:31 AM

    Pioneer Resources (ASX: PIO) has identified three potential nickel sulphide targets for further work within its Fairwater joint venture project in the Albany Fraser Orogenic Belt, Western Australia.

    The conductor anomalies were identified by a VTEM survey completed in March 2013 over the FWN001 nickel prospect and have coincident anomalous nickel (of up to 299ppm), copper and chrome soil geochemistry.

    A geophysical crew has been retained and fixed loop electromagnetic (FLEM) surveys over the T1 to T3 anomalies are expected to be completed during July 2013.

    These surveys will define drill targets that Pioneer will likely test during the December 2013 quarter.

    Fairwater is one of two projects for which the company had received a $120,000 co-funding grant from Western Australia's Exploration Incentive Scheme.

    Pioneer has a 75% interest in Fairwater, which covers 1,442 square kilometres in the Albany-Fraser region about 200 kilometres south of Kalgoorlie.

    The FWN001 nickel prospect is located about 120 kilometres southwest of Sirius Resources' (ASX: SIR) Nova and Bollinger nickel deposits.

    Work by the company has identified the FWN001 target that forms a discrete anomaly 4 kilometres long directly overlying the Proterozoic-Achaean bounding structure and contains auger-soil sampling assays up to 250ppm nickel and 68ppm copper.

    The basis of the geological model was developed by Pionner's consultant geoscientists using principle component analysis of nine litho-geochemical elements and aeromagnetic imagery.

    This concluded the presence of an oval, mafic or ultramafic assemblage, which is a known host rock for nickel deposits.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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