Benham project yields encouraging results for Pioneer Lithium

Recently-listed Pioneer Lithium (ASX: PLN) has made a significant find just weeks after commencing its maiden field exploration program at the Benham project in north-west Ontario.

Managing director Clinton Booth noted the discovery of numerous pegmatite outcrops at Benham as a significant breakthrough for the company.

“This is an outstanding result from the Benham project which reinforces our rationale for adding this property to our portfolio. The team has done a great job to mobilise a fieldwork crew so quickly and to leverage the short available weather window to conduct this work,” Mr Booth said.

“In less than three weeks since completing the transaction for this property we have put boots on ground, made this discovery of mineralised pegmatite outcropping and identified another 60 pegmatite outcrops requiring follow-up. We have been able to rapidly obtain significant data to inform our next suite of activities at Benham.”

Multiple outcrops

Undertaken in conjunction with experienced lithium geological consultants Coast Mountain Geological (CMG), the initial field program identified spodumene-bearing pegmatite outcrops in the north-west portion of the project area.

The largest outcrop includes multiple mineralised veins exposed over a length of approximately 1.5-2m and contains very coarse-grained unaltered spodumene. This mineralogy matches descriptions reported at Beyond Lithium’s neighbouring Victory project.

Notably, the field program was significantly impacted by bad weather, restricting activities to a five-day maiden campaign, with the team only able to conduct fieldwork activities over approximately 50% of the project area.

Nevertheless, a total of 61 pegmatite outcrops were identified, including the mineralised ones and a total of 81 rock chip samples and targeted channel samples were systematically collected. All samples have now been delivered to AGAT Laboratories in Thunder Bay, Ontario, with assays due next year.

Recent Benham acquisition

Pioneer only acquired the Benham in early November after it executed an option agreement with prospector Wayne Benham to purchase a 100% interest in the highly prospective project.

The transaction was structured with deferred payments over four years and Pioneer Lithium may exit at any stage with no future liabilities.

Benham comprises 30 claims located immediately south of the boundary between the Winnipeg River and Western Wabigoon sub-provinces of the Archaean Superior Craton, straddling a narrow greenstone belt proximal to the peraluminous, two-mica Ghost Lake Batholith and its smaller satellites.

Covering approximately 1,245 hectares, the project is located approximately 70km west of Critical Resources’ (ASX: CRR) Mavis Lake lithium project, which comprises over 20 lithium-caesium-tantalum pegmatites that are genetically related to the Ghost Lake Batholith.

Strong support for Canadian lithium assets

Pioneer commenced trading on the Australian Securities Exchange (ASX) in early September following its $5 million IPO, which closed oversubscribed.

The company entered into its IPO with an outstanding multi-asset portfolio of strategically located lithium projects in Ontario and Quebec – namely the Root Lake (90%-owned) and Lauri Lake (100%-owned) projects in Ontario and the La Grande (100%-owned) lithium project in Quebec’s James Bay region.