Pioneer ramps up exploration, eyes share of US uranium market

• PLN completes first phase of a two-stage soil sampling program at Skull Creek
• Phase 2 will begin immediately upon receipt of assays from the first phase
• Company aims to generate drill-ready targets ahead of maiden drilling

Special Report: Pioneer has wrapped up the first part of a two-phase soil sampling program at its Skull Creek uranium project in Colorado, USA, on the path to maiden drilling.

The project is positioned to capitalise on a push from the Trump-led US administration, which has intensified its commitment to revitalising the US nuclear energy sector and bolstering domestic uranium production. 

Phase 1 targeted three known prospects – County Line, Blue Mountain and Skyline – identified by radiometric anomalies and where uranium-bearing rock chip samples returned values of up to 1240 ppm.

Phase 2 will sample along the ~17km projected strike of the Sego Sandstone aiming to identify uranium obscured by shallow cover.

Pioneer (ASX:PLN) said the overarching goal was to define drill-ready targets for maiden drilling at the project and it is perfect timing considering the growth of US federal support for local uranium development.

The US recently banned Russian uranium imports and invoked the Defence Production Act, prioritising energy security and reducing import reliance – positioning PLN to play a strategic role in the re-emergence of American nuclear fuel independence.

Looking for scale and fast-tracked development

American domestic uranium production is reportedly only 2% of the US reactor demand and the Russian uranium import ban puts a premium on domestic uranium supply. 

With that in mind, the company is hoping to find a sizeable uranium system suitable to in-situ recovery methods, and to fast-track development of the project.

“The Skull Creek uranium project is ticking all the geological boxes indicating the potential presence of a large-scale mineralised system,” CEO Michael Beven said.

“The previously reported radiometric anomalies combined with rock chip samples which all retuned results of greater than five times background, peaking at 1240ppm uranium in Sego Sandstone horizons, is indicative of a uranium mineralisation system of significant size potentially suitable to ISR (In-situ recovery) recovery methods. 

“Operational and logistics arrangements are already in place to enable the immediate commencement of phase 2 once the phase 1 assays have been received and the sampling technique is deemed effective.”

Phase 2 will commence immediately upon receipt of assays from phase 1.

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.