‘Outstanding’: Pioneer Lithium’s runs into spodumene along the fence line to GT1’s 8.1Mt lithium find
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Pioneer Lithium has discovered mineralised pegmatites from maiden fieldwork at the Red Squirrel prospect, adjacent to Green Technology Metals’ (ASX: GT1) Root Bay pegmatite system.
Canadian lithium explorer Pioneer Lithium (ASX:PLN) has performed strongly since its recent ASX debut, which the company puts down to great assets in the right place and at the right time, and an elite team of company makers to push them forward.
Its Root Lake project is right next door to Green Technology Metals’ (ASX:GT1) Root Bay deposit, and Pioneer is confident the spodumene-rich pegmatites trend into its ground.
Pioneer is now working to identify new priority targets with an exploration program to be conducted in two phases.
The company had already found three pegmatites — a host rock for lithium mineralisation — along the Extended Morrison trend in the north-west part of the project, which is directly along strike from GT1’s Morrison-McCombe pegmatite system.
And in the central area of the claims – the Central Corridor zone which is along trend from GT1’s Root Bay pegmatite system – a massive 85 pegmatite swarm has been discovered.
The ongoing autumn fieldwork program has now identified spodumene-bearing pegmatite outcrops at the Red Squirrel prospect, along the central corridor in the south-eastern portion of the project area.
This could represent a continuation of GT1’s Root Bay pegmatite system, the company says.
PLN CEO Clinton Booth says the result is “outstanding” and gives further strength to expectations of the continuation of GT1’s Root Bay pegmatite system into PLN’s claim area.
“The fieldwork team have done a great job and this discovery of spodumene-bearing pegmatite in our claim area is a tremendous way to end this fieldwork campaign and caps off the recent discovery of the massive pegmatite swarm in the central corridor zone,” he says.
Mapping, grab sampling and channel sampling programs are close to being completed and the sampled pegmatite will be sent to the lab for analysis.
Targets are being identified and a maiden drilling program is still pegged for November at the underexplored, high-potential Root Lake project.
This article was developed in collaboration with Pioneer Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.