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Pioneer Minerals Limited (ASX:PMM)

ALERT: Price-sensitive ASX Announcement for PMM
Current share price for PMM : $0.120 -0.05 (-29.41%)+
Announcement
Release
18 May 2026 8:19AM
Price at Release
$0.170
Full Release
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Summary
Pioneer Minerals Limited has appointed Alaska Midnight Sun Drilling Inc. as the drilling contractor for its maiden reverse circulation drill program at the Springfield Tungsten, Gold and Gallium Project, part of the North Pine Project in Idaho, USA. This appointment marks a significant transition from target generation to drill execution, with the program scheduled for the third quarter of 2026. The drill program, consisting of up to 2,000 meters across approximately 35 drill holes, aims to test various high-priority targets identified through recent geological and geophysical studies, including LiDAR interpretation and upcoming electromagnetic surveys. The project anticipates evaluating multiple mineralization styles, including tungsten skarn and structurally controlled gold and gallium systems. Pioneer is also progressing with site preparations, including road access reopening and operational readiness activities, as part of its strategy to advance Springfield as a large-scale multi-commodity system.
Key Points
  • Drilling contract awarded to Alaska Midnight Sun Drilling Inc.
  • Transition to drill execution for Springfield Project.
  • Maiden drill program scheduled for Q3 2026.
  • Program includes up to 2,000 meters of reverse circulation drilling.
  • Targets identified through LiDAR interpretation and electromagnetic surveys.
  • Evaluation of tungsten skarn and gold and gallium mineralization.
  • Operational readiness and site preparations underway.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.