ESS - Essential Metals

[happytown]

currently in a trading halt, pending the release of results from the recent 26 hole, 2,500m RC drilling program at the Lignum Dam Gold Project

recent RAB drilling results incl 4m @ 3.13 g/t from 16m; 4m @ 3.63 g/t from 44m; 8m at 4.19 g/t from 60m; 8m at 2.43 g/t from 44m; 5m @ 2.14g/t from 41m; 3m @ 2.82 g/t from 37m; 12m @ 6.65 g/t from 48m

the recent RC drilling was testing depths below those of the RAB drilling program

recent placement raised $1.15M, for total cash of $2.47M

approx 220M shares
11.85M options
sp .034
MC $7.9M

also has 75% interest in manganese (Mt Chester)
55% nickel (Golden Ridge); 40% to 20% nickel Acra jv (with xstrata)

cheers

another quality post brought to you by happytown inc

 

[happytown]

ann out this morning results from RC drilling, 6 holes only, 5 of which "exhibit strong gold mineralisation"

results from the 5 holes as follows

11m @ 5.63 g/t from 40m including 4m @ 13.37 g/t
10m @ 5.72 g/t from 34m including 7m @ 7.08 g/t
19m @ 5.56 g/t from 52m including 7m @ 12.53 g/t
8m @ 3.94 g/t from 44m including 4m @ 5.52 g/t
13m @ 1.99 g/t from 76m

sp currently up approx 30% on good volume

for alerts to upcoming drill results and resource upgrades, see https://www.aussiestockforums.com/forums/showthread.php?t=16061

cheers

another quality post brought to you by happytown inc

 

[Sean K]

Looks like it might be a good discovery.

Unlike that clown in NT.

Early days though.


20 August 2009
Western Australia 6872

ASX/MEDIA ANNOUNCEMENT

OUTSTANDING INITIAL GOLD DRILLING RESULTS FROM LIGNUM DAM

Recently completed reverse circulation drilling has returned gold intercepts that include:

• LDRC015: 11m at 5.63g/t from 40m including 4m at 13.37g/t
• LDRC020: 10m at 5.72g/t from 34m including 7m at 7.08g/t
• LDRC021: 19m at 5.56g/t from 52m including 7m at 12.53g/t
• LDRC022: 8m at 3.94g/t from 44m including 4m at 5.52g/t
• LDRC022: 13m at 1.99g/t from 76m

 

[Sean K]

I'd like to add that I think the ASIC is right on their game at the moment.

Yesterday, the stock went from 3.5 ish to 6.5 ish and they didn't get a please explain.

Today's drill results were not available to the public until today, of course!



PIO,

Please Explain!

 

[derty]

The announcement was released yesterday kennas, prior to market open, hence the volume and rise in share price, and as it was market activity as a result of an announcement there was no speeding ticket.

 

[Sean K]

The announcement was released yesterday kennas, prior to market open, hence the volume and rise in share price, and as it was market activity as a result of an announcement there was no speeding ticket.

Ah, OK. I'm getting my days mixed up as I'm a day behind here. Stupid date line.

Are the results really that good?

 

[derty]

With the caveat that I am reasonably close to the action here;

Yes the results are significant, the RC test shows that there is a bedrock component to the gold mineralisation defined in the previous RAB programs. The downhole thickness and grades are extremely encouraging.

The Lignum Dam project is a new discovery as a result of a follow up on a historic soil auger anomaly. The gold is hosted in granodiorite which is an unusual host for the WA goldfields. Interestingly Lignum Dam is 15km to the NW of the Golden Cities open cuts owned and operated by Nortons. The Golden Cities mineralisation is also hosted in granodiorite and has yielded about 1M oz Au.

Early days, but an encouraging start and may be the first significant green fields gold discovery in the local Kalgoorlie area in quite a while.

 

[springhill]

Pioneer Resources - RELOADED!
No, seriously that's what it says in their company presentation.

Current share price 2.0 cents
Shares on issue 510.4 million
Unlisted options 21.0 million
12-month range 1.4 –3.8 cents
Cash $6.5 million
Cash receivables $3.5 million
Market capitalisation $10.2 million

Board
Craig McGown –Chairman
An investment banker with over 35 years’ experience consulting to companies in Australia and internationally, particularly in the natural resources sector.
The former Chairman of DJ Carmichael and currently with New Holland Capital.
David Crook –Managing Director
Founding Managing Director since 2003.
A geologist with over 30 years’ experience in the mining industry, including senior exploration, mining and management roles with a number of Australian and international companies.
20 years experience in the Kalgoorlie District
Allan Trench –Non-Executive Director
A mineral economist, geophysicist and business management consultant.
Previously led exploration teams for WMC and held senior business advisory roles.
Currently a metals analyst with an international consultancy.
Wayne Spilsbury –Non-Executive Director
A geologist with over 35 years of experience including 28 years with Teck Cominco Limited -former General Manager, Exploration –Asia Pacific.
Has worked on gold and base metal projects in Western Canada, the United States, Asia and Australia.

Pioneer maintains a strict threshold approach to exploration. When a project does not rate ‘top priority’, a well credentialed partner is sought.
Project Joint, Venture Partner, Pioneer interest
*Acra (Ni), Xstrata Nickel, 20% FCI
*Balagundi VMS, Alphabrass Pty Ltd, A$2mfarm out
*Larkinville (Au, NI), Ramelius, 20-25% FCI
*Maggie HaysHill (Ni), Norilsk, 20% FCI
*Pioneer (Ni), Panoramic, 20% FCI
*Ravensthorpe (Fe, Mn), Mineral Resources, Royalty
*Ravensthorpe (Cu, Au), PhillipsRiver, Royalty
*Tasmania (Ni, Cu, PGE), Bass Metals, Royalty
*Tasmania (Fe,W, Sn), VentureMinerals, Royalty

The year so far
May2012
Drilling completed at Gindalbie and Juglah Dome Gold Projects
June2012
Sold Western Mt Jewell for $8 million
July2012
Acquired remaining Golden Ridge interests for $0.7 million
Plannedfor2012
Results in the pipeline
Assays -Gindalbie, Juglah Dome
8,500 soil samples -Golden Ridge
EM surveys -Golden Ridge
And then….
Drilling: Juglah Dome, Golden Ridge, Gindalbie –subject to results





Derty, Kennas... what happened in between your last posts and now. For what reason did PIO fall off your radar?

 

[burglar]

... Derty, Kennas... what happened in between your last posts and now. For what reason did PIO fall off your radar?

I'd be guessing that they be trend followers!

 

[springhill]

RAB Drilling Hits High Grade Gold at Juglah Dome


Pioneer Resources announce that the recent rotary air blast (RAB) drilling program at its 100%-held Juglah Dome Gold Project has successfully identified two new prospects for further drilling.


o Moonbaker: 3m at 18.0g/t Au from 9m, within a broader intercept of 12m at 5.4g/t Au. This hole was drilled to a depth of 21m with the last assay being 3m at 2.2g/t Au.


o John West: The combination of geochemistry and mineralised drill holes has defined a target with a strike length of 900m. Previously, gold nuggets and gold-bearing quartz veins had been located at the John West Prospect.

Gindalbie Gold Project (Pioneer 100%)
A program of reconnaissance RAB drilling was also undertaken at the Gindalbie Project. Very
encouraging results were returned from the SW003 grid, with two adjacent holes returning
strongly anomalous results. Additional drilling is also planned for this quarter.

 

[Canadian]

Any of the guys here following Pioneer? looks very exciting with todays news.

 

[Porper]

Any of the guys here following Pioneer? looks very exciting with todays news.

Another company trying to jump on the Lithium bandwagon. Market unimpressed and stock consolidating beneath resistance. Not looking good.

CHK today issued something similar ...surged higher and got smashed. Finished where it started. Be careful as no volume to get out if you need to.

 

[Bradlee]

A lot happening with this company september there is a lot of drilling going on and they are connected to ILC in canada who is partnered with ganfeng ,the ontario projects have already been proven to have high grade lithium,expecting results from the dome in wa any day now they are targeting drilling the dome so must have something good there, they also have acra gold near newmont already proven to have high grade prospects and they also have nickel,the ontario lithium projects are excellent.

newmont mining just moved near their gold kalpini project , will see a sp rise in the very near future, there is management talk of a lithium processing plant in ontario being built ,serious talks. beauty of them is they don't just rely on one commodity ,they have gold/nickel and lithium.

 

[Al Greeneye]

Any of the guys here following Pioneer? looks very exciting with todays news.

I am a fan of Pioneer and agree the latest news is good.

They are more advanced than most of the junior lithium plays. Their main target at the moment of Mavis Lake in Canada is about to get drilled and they have tie-ins with International Lithium Corp (TSXV:ILC) which gives a hook in to processing potential.

They also have have some sites in WA which look to have plenty of potential but, as Porper points out, there are lots of other explorers in the same situation.

This is definitely one to watch as the drilling results start to come out.


I hold PIO.

 

[Canadian]

I am a fan of Pioneer and agree the latest news is good.

They are more advanced than most of the junior lithium plays. Their main target at the moment of Mavis Lake in Canada is about to get drilled and they have tie-ins with International Lithium Corp (TSXV:ILC) which gives a hook in to processing potential.

They also have have some sites in WA which look to have plenty of potential but, as Porper points out, there are lots of other explorers in the same situation.

This is definitely one to watch as the drilling results start to come out.


I hold PIO.

I have been on the buy also, seems the directors took on the SPP at 3.6 cents so to me it is at a discount, when have you ever seen directors get it wrong? Follow the smart money.

 

[Porper]

I am a fan of Pioneer and agree the latest news is good.



I hold PIO.

Amazing coincidence...3 first time posters on PIO, all extremely bullish.

This is an illiquid stock and has lost 69% since May. Be careful everyone!!

 

[Canadian]

Amazing coincidence...3 first time posters on PIO, all extremely bullish.

This is an illiquid stock and has lost 69% since May. Be careful everyone!!

This stock is not illiquid at all, i have been trading in and out on announcements very easily, so yes "everyone" be very careful, especially if the share price rises on news.

 

[Porper]

This stock is not illiquid at all.

What? It has recently traded $50,000 worth in a day and often less than $100,000...and that's not illiquid?

By all means ramp it, but you can't call this a liquid stock. Bad news and you'll take a massive hit as everybody tries to offload to a couple of newbie buyers looking for a bargain. It's a gamble that may pay off...may not.

You have also forgotten to mention that after its news spike it's declined 69%. Currently hovering on a minor line of support. If that gives way your 69% decline will look good

 

[Porper]

What? It has recently traded $50,000 worth in a day and often less than $100,000...and that's not illiquid?

By all means ramp it, but you can't call this a liquid stock. Bad news and you'll take a massive hit as everybody tries to offload to a couple of newbie buyers looking for a bargain. It's a gamble that may pay off...may not.

You have also forgotten to mention that after its news spike it's declined 69%. Currently hovering on a minor line of support. If that gives way your 69% decline will look good

Volume certainly picked up today as holders bailed out. Down another 6.5% and more importantly, headed down through minor support.

Just goes to show...be careful when 3 new posters suddenly appear out of nowhere ramping the hell out of a stock.

 

[Modest]

Volume certainly picked up today as holders bailed out. Down another 6.5% and more importantly, headed down through minor support.

Just goes to show...be careful when 3 new posters suddenly appear out of nowhere ramping the hell out of a stock.

nice pick up Porper!