Pioneer Resources Ltd (ASX:PIO) has recently secured itself as a front-runner into the lithium sector, and has proceeded with the Mavis Lithium Project acquisition, which is located in the Canadian province of Ontario.
Mavis has drill-ready spodumene pegmatites, a preferred lithium ore.
The 2016 drilling program will initially expand on intersections from 2011 and 2012, which demonstrated the presence of high-grade, well-evolved, lithium bearing pegmatites, before moving on to new targets.
Pioneer is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.
The halt will remain in place until the opening of trade on Monday 27th June 2016, or earlier if an announcement is made to the market.
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