Golden Ridge Project (Nickel, Cobalt)

Pioneer 100%

Pioneer’s Golden Ridge Nickel Sulphide Project includes the Blair Nickel Mine (which ceased production in 2008). The Project is located approximately 30 km south-east of Kalgoorlie, within the Northern Kambalda District of Western Australia, and covers an area of 121 km².

The Blair Nickel Mine closed during a time of depressed nickel prices having produced 1.26mt of nickel ore at 2.62% Ni.

The Kambalda District, centred approximately 50km south of the Blair Mine, is regarded as a world class mineral field hosting numerous komatiite-hosted nickel sulphide (as well as significant gold) deposits.

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Fairwater Project

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.

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Cessna Prospect

Pioneer may earn 80%

The Cessna Prospect is an intrusive mafic volcanic plug located between the Carr-Boyd (15km N) and Silver Swan Nickel Mines (20km S).

A data review for the project, including analysis of archived RAB samples for nickel by the vendor, has resulted in the identification of a single, coherent nickel target with a 700m strike length.

To test the target the Company has planned a deep penetrating ground EM system, and any conductors (which might include nickel sulphide mineralisation) will be drilled.