Pioneer Resources (ASX:PIO) has a highly prospective drilling program underway in the Fraser Range of Western Australia.
Fraser Range is one of the world's hottest exploration postcodes following Sirius Resources (ASX:SIR) Nova-Bollinger discovery.
Pioneer's program will consist of up to 99 stratigraphic aircore holes over 5000 metres at the FWNi003 nickel anomaly, within its Fairwater Nickel Project (75% Pioneer).
At Fairwater the company is exploring for mafic-intrusion hosted nickel sulphide deposits, similar to those at Nova-Bollinger, which is located 100 kilometres away.
Mafic-intrusions host a number of other major nickel deposits in Australia besides Nova, including Nebo-Babel and Radio Hill deposits, and overseas, Norilsk and Voisey's Bay.
The FWNi003 target features:
- Aeromagnetic data which shows a cluster of magnetic units with a response consistent with mafic or ultramafic rock units, occurring over a strike length of 2 kilometres;
- Elevated nickel and chrome soil geochemistry results which coincide with the magnetic units. These are strong indicators that mafic or ultramafic rocks occur beneath the sand cover;
- Coincident nickel-copper and platinum group metal anomalism, which together are considered indicators for the presence of magmatic sulphides within the mafic complex; and
- Proterozoic aged stratigraphy.
Latest investor presentation
Pioneer Resources managing director, David Crook, outlined the company's highly prospective drilling program in the Fraser Range to investors this week in Melbourne and Sydney.
ACCESS FULL PRESENTATION HERE:
Pioneer's exploration strategy has a "Plan B"
The company also has some additional projects including the Blair Nickel Mine, which is part of Golden Ridge Project in the Eastern Goldfields.
Drilling is set to commence this month, with a Concept Study for re-opening mine underway.
Pioneer also has gold interests in the Eastern Goldfields with the Acra project, which has multiple high grade gold intercepts and targets over a 20 kilometre strike length.
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