• Pioneer Lithium enters into exclusive option agreement with Wayne Benham to purchase 100% interest in the Benham project
  • The Benham project represents a greenfields lithium opportunity 70km west of Critical Resources’ Mavis Lake property
  • The company plans to conduct early exploration activities such as mapping and prospecting as soon as possible

 

Special Report: Pioneer Lithium has added another string to its bow with the acquisition of a greenfields property in northwest Ontario, nestled between Patriot Lithium’s (ASX:PAT) Dryden project and Canadian-listed Beyond Lithium’s Victory and Victory West projects.

Pioneer Lithium (ASX:PLN) has hit the ground running across its ground in both Quebec and Ontario since its ASX debut in late September.

The LaGrande project in Quebec is surrounded by huge lithium discoveries, such as Patriot Battery Metals’ (ASX:PMT) district-scale 109.2Mt @ 1.42% Li2O Corvette project and Winsome Resources’ (ASX:WR1) Cancet discovery.

In Ontario, its Root Lake project – where it has now identified a total of 89 new pegmatites – is wedged between Green Technology Metals’ (ASX:GT1) 8.1Mt Root Bay project to the east and its 4.5Mt Morrison-McCombe pegmatite system to the west.

 

Benham project near CRR’s Mavis Lake

Now the explorer has added another string to its bow with the acquisition of the ‘Benham’ project, located south of the boundary between the Winnipeg River and Western Wabigoon Sub-provinces of the Archaean Superior Craton.

PLN entered into an exclusive option agreement with Wayne Benham to purchase a 100% interest in Benham, which straddles a narrow greenstone belt proximal to the peraluminous, two-mica Ghost Lake Batholith and its smaller satellites.

Benham is roughly 70km west of Critical Resources’ (ASX: CRR) Mavis Lake Lithium Project, which comprises over 20 LCT (Lithium-Caesium-Tantalum) pegmatites that are genetically related to the Ghost Lake Batholith.

 

Exploration activities

Pioneer Lithium’s immediate focus will be to conduct early exploration fieldwork activities including prospecting, mapping and the collection of rock chip samples.

Following completion of this fieldwork and analysis of the results, Pioneer Lithium will determine the extent of any future exploration activities.

 

Positioned for future growth

“We are very pleased to add this highly prospective property to our existing portfolio, and to have been able to achieve this with an acquisition structure which allows Pioneer Lithium to cost effectively grow our asset base in a Tier-1 jurisdiction,” PLN managing director Clinton Booth says.

“This acquisition positions Pioneer Lithium extremely well for future growth as we progress our development strategy.”

 

 

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.

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