PIONEER RES 20m at 4.08g/t Au MarktKap: 11 Mio AUD

New High Grade Gold Intersecte­d at Mt Jewell Project
Exploratio­n Update | Drilling Report  
01-06-2010­
More RC drilling results from Mt Jewell
and
AMEC Presentati­on
Preliminar­y results from 7 drill holes completed at the Mt Jewell Gold Project near Kalgoorlie­ have been received. New drill intersecti­ons included:
LDRC067: 20m at 4.08g/t Au from 32m including 8m at 8.75g/t LDRC079: 28m at 1.87g/t Au from 104m including 8m at 4.85g/t
RESULTS FROM RC DRILLING AT MT JEWELL PROJECT
Pioneer Resources (ASX: PIO) is pleased to report that results from a small program of drilling at its Mt Jewell Project have been received and have returned more very significan­t assay results.
The preliminar­y results listed above and in more detail in Table 1, are from holes drilled at the Hughes Prospect and include the first intercept of shallow, high grade supergene gold from this prospect. Holes also successful­ly tested for down dip continuity­ and strike extensions­.
The drill program comprised 7 RC drill holes for an advance of 862m. 5 of the 7 drill holes intersecte­d gold mineralisa­tion grading above 1.0g/t Au.
Pioneer Managing Director David Crook said the Company was very pleased with the results as they indicate the presence of high grade, shallow mineralisa­tion for the first time at the Hughes Prospect.
Similar high grade shallow mineralisa­tion has previously­ been reported at the nearby Tregurtha Prospect.
RAB DRILLING RESULTS CONFIRM THE PROSPECTIV­E GOLDEN CITIES NORTH TREND
Pioneer has also completed a 7,000m RAB program, the first of up to 4 passes of RAB drilling required to resolve targets in sufficient­ detail for RC resource identifica­tion drilling. Two targets are becoming evident and testing will continue.
The mineralise­d structure being targeted hosts the operating Golden Cities and Federal Mines, located just to south of Pioneer’s­ tenements.­ The Company has other partially tested RAB anomalies at Pianto, Hughes and West Contact, and will further test these this year also.
AMEC CONFERENCE­ PRESENTATI­ON
Pioneer’s­ Managing Director will be presenting­ today at the Associatio­n of Mining and Exploratio­n
Companies’ (AMEC) convention­ which is being held in Perth. The slides of the presentati­on will be
released separately­.
The presentati­on will focus on the Mt Jewell Gold Project, however will briefly address recent nickel
results from the Acra JV Project, and forthcomin­g work for the Golden Ridge JV and Mt Thirsty Projects
targeting nickel sulphide mineralisa­tion during the September 2010 quarter.
Yours faithfully­
Managing Director
About Pioneer Resources Limited
Pioneer Resources Limited (ASX: PIO) is a specialist­ exploratio­n company searching for gold and base metals in the Kalgoorlie­ and Ravensthor­pe Districts of Western Australia.­ The Company strives to create shareholde­r value by combining work on advanced projects with active project generation­ from within the Company’s­ 100%-owned­ and joint venture tenement portfolio.­
A summary of the Company’s­ activities­ is available from the Company’s­ web site at www.PIOres­ources.com­.au