30 January 2015
Pioneer Resources Limited (ASX: PIO)
QUARTERLY ACTIVITIES REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2014
FAIRWATER Nickel Project, Fraser Range exploration starts on key lease
• Key tenement E63/1665, which covers the priority FWNi003 nickel target, granted;
• Program of Work ("POW" - Dept of Mines and Petroleum ("DMP") work assessment) lodged in early January. Approval expected late February. When received access tracks can be established, ground EM surveys completed and RAB drilling can commence, with first results expected during March;
• Flora survey completed. No Threatened Flora taxa were identified;
• Further soil geochemistry and mapping will be completed while the POW assessment period is elapsing. Geochemistry crews and geologists will be on-site from early February, 2015.
BLAIR Nickel Project - 3D Model reveals nickel targets
• Detailed soil geochemistry (2,932 samples), mapping and an interpretation of aeromagnetic data has resulted in updates to the geological model for the near-Blair Nickel Mine area. South-trending extensions to the near-mine 'Basal Ultramafic Contact' (where nickel sulphide deposits might occur) is likely to be under infrastructure or covered by alluvium, and as a result have not been well evaluated by previous holders;
• Stratigraphic drilling to test the modified geological model south along strike of the Blair Mine planned for February. Drilling will also target 2 gossans and an EM conductor at locations close to the mine.
JUGLAH DOME Base Metal targets gain importance
• 2,180 soil geochemistry samples taken from the Dingo Dam Prospect area;
• Proof of concept drilling confirmed the Project's prospectivity for VMS-styled Pb-Zn mineralisation.
Traverses of shallow RAB drilling are planned to provide regolith geochemistry, and samples for NIR
spectral alteration mapping. Integrated results are expected to produce drill targets.
ACRA Gold Project -Geochemistry and structural analysis
• 2,951 soil geochemistry samples taken from Kalpini Hill, Jubilee Gift and Evelyn Gladys prospects;
• Following the acquisition of improved aeromagnetic data, Southern Geoscience Consultants has commenced a study to identify structural zones that might act as a host to gold mineralisation.
CORPORATE - Strong cash position means continuing drilling
On 19 November 2014, the Company announced that KalNorth Gold Mines Limited paid it $1.05 million being an agreed final payment for the sale of the Mt Jewell Gold Project.
At 31 December 2014 the Company had reserves of $2.23 million cash at bank and no debt.
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