Pioneer 75%

The Fairwater Project targets nickel are located in interpreted Proterozoic-aged rocks between 100 and 130km south west of Independence Groups’ (ASX: IGO) Nova and Bollinger nickel discoveries, in the Albany-Fraser Orogen in south east Western Australia.

Proof of concept drilling at Fairwater has successfully confirmed the presence of ultramafic and mafic rocks. These rock types were previously interpreted as present through soil geochemistry and aeromagnetic surveying. Ultramafic rock is identified by colour, mineralogy and chemical composition - principally its iron, magnesium, chromium and nickel content, and is a common host rock for nickel deposits world-wide.

Based on 99 aircore and 3 diamond drill holes, the Company has concluded that a mafic-ultramafic conduit sill-dyke system has been intersected, an interpretation based on geological observations and qualitative analyses by pXRF of drill core samples.

The mafic-ultramafic rocks intrude into quartz-biotite gneiss ‘country rock’, and are interpreted as being part of a conduit sill-dyke system, thickening towards the centre of the intrusion as indicated through aeromagnetic imagery and aircore drilling.

The mafic-ultramafic system includes high MgO serpentinites (after peridotite), a key component of a mineralised sill-dyke system.

December 2019