Pioneer Lithium (ASX:PLN) has uncovered high-grade tungsten and gold at its Springfield target area of interest, part of its larger North Pine Project (NPP) in Idaho, USA.
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Numerous tungsten hits classed high-grade by the company on Monday included “results up to 2.90% [tungsten]” ultimately “confirming a robust reduced scheelite skarn system.” Additionally, the company flagged gold hits of 7.75g/t gold,
Geochem works conducted on-site have left geotechs confident geological data on-site further underpins the interpretation of a large underground mineralised system for tungsten and further that of gold veining (though, geologically unrelated through time, the current thinking goes.)
At the same time, within the boundary envelope of Pioneer’s NPP, a separate target area of interest from Springfield, called Silver Cliffs, has returned “gold and silver assay results with strong antimony association,” including results up to 3.9g/t gold and 5.6g/t silver.
Further geophys surveys will be flown overhead gathering magnetic data used ultimately to plan the location of future drill rigs.
“What is particularly exciting is that our geochemical interpretation now confirms the presence of a second, entirely separate mineralising event at Springfield. The high-grade gold results, together with the associated silver, antimony and arsenic pathfinders, indicate the existence of a structurally controlled precious-metal system that has never been systematically explored,” PLN CEO Michael Beven said.
“This dramatically expands the exploration potential of the Springfield area beyond tungsten alone.”
PLN last traded at 18.5cps.
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Disclaimer: HotCopper had a commercial relationship with PLN at the time this article was crafted and published.