no longer lithium, but uranium in USA and Africa
.
previous Q :
Capital Raising of $1.62 million at 20c per share
• The Company completed the initial tranche of the $1.62 million Placement announced on 30 January 2025, raising $1,305,500 (before costs), via the issue of 6,527,500 new fully paid ordinary shares at an offer price of $0.20 per new share.
• As announced, the second tranche pertaining to the placement of $320,000 at $0.20c per share to directors received shareholder approval on the 24 April 2025. The funds are expected to be received by 24th May 2025 with the proceeds from the Placement to be used to advance the Company’s newly secured uranium projects (Skull Creek and Warmbad), with a portion allocated towards exploration activities, project development, project acquisition costs, costs of the Placement and general working capital needs.
Quarterly Activity Report for the quarter ending 31 March 2025
Operations
Operational activities for the Quarter focused on the completion of the uranium project acquisitions at Skull Creek and Warmbad and the commencement of exploration activities at these projects.
Highlights
Skull Creek Colorado
• Acquisition of the Skull Creek Uranium Project Colorado, USA: Pioneer completed the acquisition of the Skull Creek Uranium Project on 28 March 2025. The project is located in north-western Colorado, USA and is situated on federal land administered by the Bureau of Land Management, and is approximately 260 kilometres east of Salt Lake City, Utah.
• Radiometric Anomalies Detected at Surface: Pioneer completed a field exploration program which consisted of geological mapping and the use of Spectrometer to identify surface radiometric anomalies. Four main areas were identified where outcrops of the prospective Sego Sandstone returned significant radiometric anomalies of up to 10,000 cps (see ASX 02/04/2025: Significant Radiometric Anomalies Confirm High-Priority Uranium targets at Skull Creek Project Colorado).
Warmbad Namibia
• Acquisition of the Warmbad Uranium Project, Namibia: Pioneer completed the acquisition of the Warmbad Uranium Project located in southern Namibia, the project spans 271 km² under Exclusive Prospecting Licence 8838. The project is situated within the Namaqua Metamorphic Complex, which hosts uranium mineralisation in alaskitic leucocratic zones within granites. The uranium mineralisation at Warmbad is analogous to the Rossing uranium deposit which is Namibia’s longest and largest operating uranium mine.
• Significant Uranium Mineralisation confirmed at Warmbad: Pioneer was able to subsequently acquire 31,685 metres of historic drilling data from the Namibian Ministry of Mines and Energy. The work, completed between 2007 and 2009 by Xemplar Energy Corp highlighted three priority mineralised zones, Areas 1, 3 and 5, each demonstrating strong continuity of uranium mineralisation within alaskitic granites and clear potential for expansion. With this dataset now in hand, Pioneer has a material advantage in accelerating resource definition work across a highly prospective and underexplored uranium system.
Appointment of CEO Michael Beven
• Appointment of Chief Executive Officer: Michael Beven, an experienced Exploration Geologist was appointed as CEO of Pioneer to manage and progress the exploration of the Company’s existing assets and new company acquisitions. Michael has over 10 years’ experience in mineral exploration for multiple commodities including, but not limited to Gold, Uranium, Rare Earths and Lithium. With the appointment of Michael Beven, Robert Martin transitioned from Executive Chairman to Non-Executive Chairman.
