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Pioneer Lithium Limited ( (AU:PMM) ) has issued an update.
Pioneer Minerals Limited has reported standout results from Phase 2 soil geochemistry at its Skull Creek Uranium Project in north-west Colorado, confirming high-grade surface uranium mineralisation up to 4,257 ppm U3O8 and multiple additional high-grade rock chip assays. The program has delineated extensive, coherent soil and multi-element uranium pathfinder anomalies across both the Western and Eastern blocks, particularly in largely concealed areas, indicating potential for blind sandstone-hosted uranium systems and upgrading Skull Creek to drill-ready status.
The company has now defined priority concealed drill targets in both blocks and is preparing to submit a Notice of Intent to Drill to the U.S. Bureau of Land Management, moving the project toward initial scout drilling. Management says the scale and consistency of anomalism suggest drilling could unlock a more substantial uranium system at Skull Creek, positioning Pioneer to benefit from U.S. critical minerals policy that emphasises domestic uranium supply amid restrictions on Russian imports and constrained local production.
More about Pioneer Lithium Limited
Pioneer Minerals Limited is an ASX-listed exploration company focused on uranium, with its flagship Skull Creek Uranium Project located in a historically productive district in north-west Colorado, U.S. The project targets Colorado Plateau-style sandstone-hosted uranium mineralisation within the Upper Cretaceous Sego Sandstone and associated carbonaceous units of the Mesa Verde Group.
Average Trading Volume: 56,013
Technical Sentiment Signal: Buy
See more data about PMM stock on TipRanks’ Stock Analysis page.