Pioneer Resources Limited (ASX: PIO) has made what it describes as encouraging early progress with a recently commenced gold prospectivity review of its key projects, with a review of historical data identifying a number of exciting exploration targets at its 100%-owned Blair-Golden Ridge Project near Kalgoorlie.
The targets will be further evaluated over the coming weeks with a view to finalising an exploration programme to be undertaken during the September Quarter.
Pioneer’s Golden Ridge Project lies within the highly prospective Menzies – Boorara Shear Zone (MBSZ) that hosts six significant gold mines. At the north end of the MBSZ, the Paddington Gold Mine has produced over 3.5Moz in the past 20 years while the Golden Ridge Gold Mine is located towards the southern zone of the MBSZ.
The north-west portion of the tenements represents the southern-most extension of the Golden Ridge trend which hosts the Golden Ridge Gold Mine (reported historic production of 253,000 ounces at 10g/t) currently held by Horizon Minerals Ltd. The gold mine is located on the eastern margin of the Boorara-Woolibar Fault which continues south, through Pioneer’s Project.
Gold mineralisation has been identified within Pioneer’s Golden Ridge Project area and occurs along strike to the south of the Golden Ridge Gold Mine. It is associated with two lines of historical workings at the 18 Footer (600m strike length) and Flying Ant Prospects (400m strike length).
Additional gold prospects where significant gold mineralisation has been intersected in historical drilling are Flying Squirrel, Duplex Hill and Gold Star located in the southeast of the project area adjacent to the Mount Monger Fault.
No deep drilling has been conducted at any of the gold prospects and drilling has rarely tested below 100m depth from surface with the average hole depth being 80 metres.
The review of the Golden Ridge Project has included field reconnaissance, detailed prospect-scale mapping, surface sampling and, where possible, identification of the locations of historic drill collars and workings. A compilation and review of drilling data, surface geochemistry and geophysics is also in progress and, combined with geological mapping, will assist in defining further drill targets at the Project. These are expected to include currently untested anomalies as well as follow-up of partially defined gold prospects.
In addition to the Golden Ridge Project, historical data reviews and a systematic approach to reviewing the gold potential at other Pioneer-owned projects considered to be either prospective or under-explored will continue during the September Quarter.
