Pioneer Lithium (ASX:PLN) is continuing to rake in support from the Ontario government for its flagship Root Lake Project in Canada after receiving a C$180,916 cash injection.
Pioneer, which has a $6.78 million market capitalisation, says the funds have been awarded under the Ontario Junior Exploration Program (OJEP).
The amount received is a rebate for up to 50% of eligible exploration costs, to a maximum of C$200,000, incurred by the company at Root Lake between 1 April 2023 and 15 February 2024.
The aim of the OJEP is to incentivise early exploration to help the state remain a globally competitive mining jurisdiction, find new deposits of critical minerals, and create new economic development and job opportunities for northern and indigenous communities.
“It is a vital part of financing and fostering early exploration projects and allows us to further advance our exploration activities,” Chairman Robert Martin says.
“Funds will be allocated to summer field work and maiden drilling campaigns at our flagship Root Lake project.”
Pioneer is a lithium explorer and developer with a suite of assets situated in Ontario and Quebec.
Write to Adam Drought at Mining.com.au
Images: Pioneer Lithium
