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Pioneer Resources Ltd's share spike attracts ASX Query

Pioneer Resources Ltd's (ASX:PIO) shares jumped 29% to $0.022 intra-day yesterday, when compared to the $0.017 opening price.

Shares in the company could have been snapped up at $0.01 at the end of March.

Pioneer has attracted an ASX Price and Volume Query, which the company responded saying it was not aware of any reasons for the recent trading.

Last month Pioneer entered an Option Agreement and Strategic Alliance with International Lithium Corporation (CVE:ILC) to earn up to an 80% interest in the Mavis Lithium Project, in the Canadian Province of Ontario.

At Mavis, soil and rock geochemistry, mapping and a ground magnetic survey, and a diamond drilling program are currently being planned ahead of a commencement date in May 2016.

Pioneer said that since this was announced the ILC share price has appreciated significantly.

Share price increases have also been seen across ASX listed peers which are involved in the exploration for/development of lithium projects in Australia and overseas.

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