September 2021 Quarterly Report

Exploration, resource growth and development activities ramp up on several fronts at the Pioneer Dome Lithium Project, WA



HIGHLIGHTS


  • Pioneer Dome Lithium Project: The main operational activities during the Quarter were:

  • 5,934m Reverse Circulation (RC) drill programme completed at Dome North;

  • Implementation of the ‘development-ready’ transition plan for Dome North; and

  • Geochemical soil sampling surveys completed in the Gneiss zone on the eastern flank of the Pioneer Dome granite.

  • Post-Quarter – Assays received to date from the August drill programme were released1. Highlights from the four RC drill holes into the upper portion of the Cade Deposit included:

o 21m @ 1.08% Li2O from surface (PDRC589)

o 24m @ 1.29% Li2O from surface (PDRC590)

o 15m @ 1.06% Li2O from 47m (PDRC591)

o 26m @ 1.46% Li2O from 51m (PDRC592)

  • Golden Ridge Gold Project: Assays received in July from the June Quarter air-core drill programme confirmed numerous new zones of gold mineralisation at the Skandia, Maximus and AC75 prospects.

  • Corporate: $5 million placement (gross) announced in August with 40 million shares issued at 12.5c per share. The funds are earmarked for advancing the Pioneer Dome Lithium Project and for working capital purposes.

  • Closing cash on hand as at 30 September was $9 million.