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11 Years ago at Leo Dam, page-2

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04/02/19

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Post #: 37319817
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Originally posted by Spec_hope: ↑

I put this for those who don't how far back we go at Golden Ridge

24 November 2008 ASX/MEDIA ANNOUNCEMENT GOLDEN RIDGE JOINTVENTURE

Highly Elevated PGE Confirms Nickel Sulphide Potential atLeo Dam Prospect Pioneer Increase equity in Joint Venture Golden Ridge JVProject (30km SE of Kalgoorlie. Pioneer 53.6%, Australian Mines Limited(ASX:AUZ) 46.4%). Pioneer Nickel Limited (ASX: PIO) today released final assayresults from recent drilling from its promising Leo Dam Prospect. Aircoredrilling was used to test weathered rock as a technique to prospect for massivenickel sulphide mineralisation. Results, which the Company considers veryencouraging, include: o GRA0253 70m at 0.60% Ni, 658ppm Cu and 344ppb Pd+Pt oGRA0254 44m at 0.70% Ni, 1095ppm Cu and 452ppb Pd+Pt o GRA0257 73m at 0.53% Ni,468ppm Cu and 202ppb Pd+Pt Nickel (Ni) and copper (Cu) results were previouslyannounced in the Company’s September quarter Technical Summary however today’srelease follows the return of platinum and palladium (Pd+Pt) assays. Theresults provide two key pieces of information: • In the weathered rock profilewhere sulphide minerals have deteriorated beyond recognition, coincidentelevated Ni-Cu-Pd+Pt assays are an excellent sign that nickel sulphides werepresent; and • The broad nature of the intercepts suggests that a significantzone of cloud sulphides may be present in deeper, fresh rock. In many WesternAustralian cases large bodies of cloud or disseminated sulphides accompany themuch smaller lenses of massive sulphides and therefore act as a vector to adiscovery. The Leo Dam Prospect occurs approximately 1.5 km northeast of theBlair Mine (AUZ 100%). Strong Ni-Cu-Pd+Pt anomalism has been defined over astrike of approximately 350m, on three drill hole cross sections and remainsopen along strike to the north and south. The anomalous mineralisation islocated within a high MgO ultramafic unit located stratigraphically above afootwall basalt (figure 1). Importantly, black shales have not been intersectedon the basal contact, which will increase the effectiveness of future ground EMsurveys. Pioneer’s Managing Director Mr David Crook said that the verysignificant results from Leo Dam.

Time for this area to bring the bacon home.

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Thanks very much for that. i was not aware of these very good results. The grades are very good for shallow nickel. It only remains to prove up a decent quantity.

PIO Price at posting: 1.8¢ Sentiment: Buy Disclosure: Held
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11 Years ago at Leo Dam, page-2

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