Pioneer Lithium (ASX:PLN) is preparing to kick off maiden drilling in November at the Root Lake Lithium Project in Ontario following the completion of its autumn fieldwork.
The $13.56 million market capitalisation company has appointed Cyr Drilling International and Haverman Brothers Forestry Services to provide drilling services and on-site camp accommodation, respectively, at Root Lake.
The planned program will comprise up to 4,000m of drilling.
Pioneer will undertake initial drilling under existing permits that provide coverage over pegmatite targets previously identified within the Extended Morrison Corridor.
The company has submitted additional drill permits to the Ontario Ministry of Northern Development (MNDM) for approval to provide coverage over new priority pegmatite targets identified during the recently completed autumn exploration program.
Field teams completed systematic mapping and sampling programs that identified 89 new pegmatite outcrops within 2 ‘highly prospective’ corridors along strike from Green Technology Metals’ (ASX:GT1) known lithium deposits.
Over the course of the autumn fieldwork, 536 rock chip samples and targeted litho-geochemical channel samples were collected. All of the samples have been delivered to AGAT laboratories in Thunder Bay, Ontario.
The results are anticipated to be received in the coming weeks.
Pioneer Lithium Managing Director Clinton Booth says: “The early results have exceeded our expectations, providing strong indicators that GT1’s neighbouring Root Bay pegmatite system could extend into our claim area and delivering valuable data for our next phase of exploration.”
“The early results have exceeded our expectations, providing strong indicators that GT1’s neighbouring Root Bay pegmatite system could extend into our claim area”
The company owns 90% of the Root Lake Project, which covers 1,927 hectares in Ontario.
Pioneer Lithium is a battery metals-focused exploration company with assets in Ontario and Quebec. The company’s assets include the Root Lake, Lauri Lake, and LaGrande projects.
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
