Pioneer 25% free-carried interest

In January 2013 Pioneer completed the acquisition of a 100% interest (excluding nickel laterite) in the Acra Project.

Physical gold has been recovered from small gold workings that date from the 1890s until WW2, and more recently from nugget patches that are still being located and worked. Most exploration undertaken from the early 1970s to the present, however, has focussed on identifying nickel mineralisation.

In 2010, Geoscience Australia completed the Predictive Mineral Deposits Collaborative Research Project (“pmd*CRC”) which identified Acra as a priority target area.

The Acra Project gold target is a 20 km long, north-west trending structural corridor, which is evident in aeromagnetic data with elements observable in field mapping. Highlighting this trend further is a series of gold anomalies based on soil geochemistry generated during the mid-2000s. The purpose of soil geochemistry was to locate nickel sulphide targets, but gold was also analysed.

In 2016 Pioneer entered into a joint venture with Northern Star Resources Limited (ASX: NST) to fast track exploration at the Project, and during 2019, Northern Star reached a milestone reaching a 75% project equity through expenditure.

December 2019