PIONEER RES 20m at 4.08g/t Au

MarktKap: 11 Mio AUD

New High Grade Gold Intersected at Mt Jewell Project
Exploration Update | Drilling Report  
01-06-2010
More RC drilling results from Mt Jewell
and
AMEC Presentation
Preliminary results from 7 drill holes completed at the Mt Jewell Gold Project near Kalgoorlie have been received. New drill intersections included:
LDRC067: 20m at 4.08g/t Au from 32m including 8m at 8.75g/t LDRC079: 28m at 1.87g/t Au from 104m including 8m at 4.85g/t
RESULTS FROM RC DRILLING AT MT JEWELL PROJECT
Pioneer Resources (ASX: PIO) is pleased to report that results from a small program of drilling at its Mt Jewell Project have been received and have returned more very significant assay results.
The preliminary results listed above and in more detail in Table 1, are from holes drilled at the Hughes Prospect and include the first intercept of shallow, high grade supergene gold from this prospect. Holes also successfully tested for down dip continuity and strike extensions.
The drill program comprised 7 RC drill holes for an advance of 862m. 5 of the 7 drill holes intersected gold mineralisation grading above 1.0g/t Au.
Pioneer Managing Director David Crook said the Company was very pleased with the results as they indicate the presence of high grade, shallow mineralisation for the first time at the Hughes Prospect.
Similar high grade shallow mineralisation has previously been reported at the nearby Tregurtha Prospect.
RAB DRILLING RESULTS CONFIRM THE PROSPECTIVE GOLDEN CITIES NORTH TREND
Pioneer has also completed a 7,000m RAB program, the first of up to 4 passes of RAB drilling required to resolve targets in sufficient detail for RC resource identification drilling. Two targets are becoming evident and testing will continue.
The mineralised structure being targeted hosts the operating Golden Cities and Federal Mines, located just to south of Pioneer’s tenements. The Company has other partially tested RAB anomalies at Pianto, Hughes and West Contact, and will further test these this year also.
AMEC CONFERENCE PRESENTATION
Pioneer’s Managing Director will be presenting today at the Association of Mining and Exploration
Companies’ (AMEC) convention which is being held in Perth. The slides of the presentation will be
released separately.
The presentation will focus on the Mt Jewell Gold Project, however will briefly address recent nickel
results from the Acra JV Project, and forthcoming work for the Golden Ridge JV and Mt Thirsty Projects
targeting nickel sulphide mineralisation during the September 2010 quarter.
Yours faithfully
Managing Director
About Pioneer Resources Limited
Pioneer Resources Limited (ASX: PIO) is a specialist exploration company searching for gold and base metals in the Kalgoorlie and Ravensthorpe Districts of Western Australia. The Company strives to create shareholder value by combining work on advanced projects with active project generation from within the Company’s 100%-owned and joint venture tenement portfolio.
A summary of the Company’s activities is available from the Company’s web site at www.PIOresources.com.au