Pinnacle Reports 1,708 ppm TREO and New Lithium Pegmatite Targets in Q1 Exploration
Pinnacle Minerals reports significant exploration progress across its Canadian and Australian projects, highlighting multiple lithium pegmatite targets and strong rare earth element assays while maintaining a disciplined cash position.
- Multiple high-priority lithium pegmatite targets identified at Adina East, Quebec
- Wirrulla Project assays reveal up to 1,708 ppm TREO with substantial heavy and magnet rare earth oxides
- Capel Heavy Mineral Sands drilling confirms broad zones of ilmenite-dominated mineralisation
- Strategic review leads to capital conservation and streamlined exploration activities
- Strong cash position maintained at $631,000 at quarter end
Exploration Advances in Quebec’s Lithium Belt
Pinnacle Minerals Ltd (ASX: PIM) has made notable strides in its lithium exploration efforts at the Adina East Project in Quebec’s James Bay region. Leveraging advanced airborne LIDAR and orthophoto surveys, the company has pinpointed multiple pegmatite targets that mirror the geological setting of nearby high-grade lithium discoveries by Loyal Lithium and Winsome Resources. These targets, particularly on the western and eastern flanks of the project, show promising characteristics such as white pegmatitic outcrops and proximity to known spodumene-bearing dykes, suggesting a high probability of lithium mineralisation.
The strategic use of LIDAR technology to identify elevated, white pegmatite outcrops has allowed Pinnacle to efficiently focus its prospecting efforts, reducing the need for costly and time-consuming ground reconnaissance. This approach builds on successful precedents in the region and positions Pinnacle well to advance drilling campaigns that could delineate lithium resources in a globally significant battery metals jurisdiction.
Rare Earth Element Potential in South Australia
In South Australia, the Wirrulla Project continues to deliver encouraging assay results for rare earth elements (REE), with samples returning up to 1,708 ppm total rare earth oxide (TREO) over 6 metres, including intervals with high concentrations of heavy and magnet rare earth oxides. The project’s location within the Narlaby palaeochannel, an area known for ionic REE mineralisation, aligns Pinnacle’s exploration with recent discoveries by Cobra Resources.
Pinnacle has engaged specialist consultants to interpret historical data and recent pXRF analyses, aiming to refine targets for clay-hosted REE mineralisation. The acidic groundwater environment and favourable source rocks in the area provide a compelling geological model for REE accumulation, which could underpin future resource development pending further assay and leach testing results.
Heavy Mineral Sands Confirmed at Capel, Western Australia
The Capel Heavy Mineral Sands Project has also seen positive outcomes following a 2,067-metre aircore drilling program. The drilling intercepted consistent heavy mineral (HM) zones dominated by ilmenite, with accessory zircon and rutile, over an interpreted strike length of up to three kilometres. Notable intersections include 2.8% HM over 9 metres and high-grade zones exceeding 13% HM, confirming the potential for a material mineral resource.
Historical data from previous owners Iluka Resources and Tronox Limited, combined with Pinnacle’s recent drilling, suggest the presence of a palaeo-shoreline conducive to HM enrichment. The project’s geological setting, including basaltic palaeo-headlands known to trap mineralisation, adds further confidence to ongoing exploration efforts.
Corporate and Financial Discipline
Alongside its exploration activities, Pinnacle Minerals has undertaken a strategic review to conserve capital and streamline operations. The company reported no mining production or development expenditure during the quarter, reflecting a focus on exploration and cost management. Pinnacle ended the quarter with a cash balance of $631,000, maintaining a solid financial footing to support its ongoing programs.
Payments to related parties, including executive and director fees, were disclosed at $41,000 for the quarter, consistent with governance expectations. The company’s prudent approach to expenditure and targeted exploration investments positions it to advance its battery and technology metals projects methodically.
Outlook
With multiple projects at promising stages of exploration and a disciplined capital management strategy, Pinnacle Minerals is poised to deliver further value through upcoming drilling results and assay updates. The company’s focus on lithium, rare earth elements, and heavy mineral sands aligns with critical supply chain demands for battery and technology metals, underscoring its strategic relevance in the sector.
Bottom Line?
Pinnacle Minerals’ methodical exploration and cost discipline set the stage for potential resource breakthroughs in critical battery metals.
Questions in the middle?
- What are the timelines and plans for follow-up drilling on the high-priority lithium pegmatite targets at Adina East?
- How will Pinnacle advance the REE assay results at Wirrulla towards defining a viable resource?
- What capital strategies will Pinnacle employ to sustain exploration momentum given its current cash position?
