Pioneer Lithium (ASX:PLN) has kicked off a maiden fieldwork program at its newly optioned Benham Lithium Project in Ontario, Canada.
The $13.33 million market capitalisation company says it will conduct the fieldwork in conjunction with lithium geological consultancy Coast Mountain Geological (CMG).
Fieldwork activities will include geological mapping to uncover pegmatite outcrops, structural interpretation, and the collection of rock chip samples for geochemical analysis.
This program aims to identify favourable host rocks, geotectonic settings, and testing for the dispersion of lithium-caesium-tantalum (LCT) pegmatite-associated geochemistry and accessory minerals.
Pioneer Lithium Managing Director Clinton Booth says this is the company’s first opportunity to explore its Benham project.
“It is 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“
“It is 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.”
As previously reported, Pioneer Lithium executed a C$1.1 million option with Wayne Benham to acquire 100% interest in the project ealier this month.
Pioneer Lithium is a Canadian-focused battery metals explorer with assets in the heart of Canada’s lithium regions.
As of 30 September 2023, the company had $4.37 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Pioneer Lithium
