Pioneer already has boots on the ground at new Benham lithium project
Special Report: Exploration work is underway at Pioneer Lithium’s newly optioned Benham lithium project in Ontario, which is emerging as a prolific critical minerals district with downstream opportunities for miners to feed into nearby battery manufacturing operations.
Car manufacturers such as Stellantis (the umbrella of Dodge, Jeep, Alfa Romeo, Peugot and Citroën brands), Ford and Honda are pouring billions of dollars into the region to shore up nearby supply chains.
Great news for explorers in the region, which is highly prospective for lithium deposits as one of Canada’s Tier-1 mining jurisdictions.
In a tough year for IPOs, September listing Pioneer Lithium (ASX:PLN) has been a strong performer since making its ASX debut.
This comes down to a few things: namely, great Canadian lithium assets in the right place and at the right time, and an elite team of company makers to push them forward.
Pioneer managing director Clinton Booth says the Pioneer’s projects are perfectly placed in Tier-1 lithium locations near the rapidly expanding demand for battery metals in North America – and that bodes well for future development.
Exploration is already underway at Pioneer Lithium’s (ASX:PLN) Benham, just days after it optioned to purchase the highly prospective tenure for C$375k (plus resource-based milestone payments).
The project area covers 30 claims for ~1,245ha, straddling a narrow greenstone belt.
A targeted fieldwork program with contractor Coast Mountain Geological is mapping pegmatite outcrops and their structural interpretation, while also collecting rock chip samples to be assayed to assess future drill targets.
Speaking on Benham, PLN MD Clinton Booth says it’s the company’s first opportunity to explore the ground at the project.
“It’s a great effort by the team to have mobilised so quickly to commence a prospecting and mapping campaign, just a week and a half since executing the option agreement,” he says.
PLN’s main game is the Root Lake project, down the road from Benham and right next door to Green Technology Metals’ (ASX:GT1) 14.6Mt Root Bay deposit.
The company has 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 also directly along strike from GT1’s Morrison-McCombe pegmatite system.
A drill program is being planned, which will feed into an exploration target and maiden resource in the first half of 2024.
PLN also owns the LaGrande project in Quebec which is surrounded by large lithium deposits such as Patriot Battery Metals’ (ASX:PMT) district-scale 109.2Mt @ 1.42% Li2O Corvette project and Winsome Resources’ (ASX:WR1) Cancet discovery.
The explorer is undertaking geological recon programs off historical data across three claim areas to determine future fieldwork that will look to identify lithium dispersion and associated pathfinder minerals.
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.