Sydney, Australia – Pinnacle Minerals Ltd (PIM:ASX), an ASX listed technology minerals company, is excited to announce its comprehensive exploration plan for the year 2024, emphasizing its strategic focus on technology and battery metals. The plan outlines an aggressive approach to discovering valuable resources through extensive drilling programs across its diverse project portfolio, which includes critical minerals such as Lithium, Uranium, Rare Earth Elements (REEs), and Mineral Sands.
Strategic Exploration Initiatives
Pinnacle's 2024 exploration endeavors are set to concentrate on significant discoveries through drilling programs at three key projects:
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Lithium at Adina East, Quebec, Canada: The exploration highlights include a LIDAR survey in Q2 to identify potential pegmatite outcrops, field mapping, and rock chipping in Q3 to pinpoint drilling targets, followed by trenching and diamond drilling in Q4.
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Uranium and REEs at Wirrulla, South Australia: Activities feature XRF and assays of historical core to outline REE targets in Q2, with a drilling permit already lodged for a Uranium drilling program. The drilling of uranium targets within the Narlaby Paleochannel is scheduled for Q2/Q3.
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Mineral Sands / Ilmenite at Capel, Western Australia: The project moves forward with a drilling permit lodged and pending approval as of April 2024, and a 2,000m drilling program targeting ilmenite mineralization planned for Q2.
Commitment to Critical Minerals Exploration
Pinnacle Minerals reaffirms its dedication to exploring and developing resources critical to the technology and battery industries. The company's focus remains on its flagship projects: the Adina East Lithium Project in Quebec, Canada, the Wirrulla Uranium and REE Project in South Australia, and the Capel Mineral Sands Project in Western Australia. These projects are strategically positioned within the critical and technology minerals sector, promising to deliver consistent and meaningful results throughout the year.
Financial Stability and Strategic Decisions
With a strong balance sheet and exploration activities fully funded from existing cash reserves, Pinnacle is well-positioned to execute its 2024 plan effectively. The decision not to exercise the Manna West option reflects the company's strategic focus on ensuring deliverables on key exploration projects.
Pinnacle Minerals Managing Director, Nic Matich, commented:
“The Pinnacle team has spent the first quarter of the year planning and executing an exploration plan involving several critical minerals at our priority projects. We have laid the foundations for success via carefully composing our project portfolio in key commodities in tier 1 jurisdictions, all the while maintaining a strong balance sheet and tight capital structure. Pinnacle is highly leveraged to success and the team is excited about the exploration results that 2024 may bring”.
About us:
Pinnacle Minerals Ltd (ASX:PIM) is an ASX listed technology minerals company focused on delivering shareholder value via the systematic exploration and development of its portfolio of battery and technology metals projects in Canada, Western Australia and South Australia. Pinnacle aims to deliver exploration success via systematic and geologically rigorous techniques. The Company’s focus is the “Adina East Project” in James Bay, Quebec which is proximal to the world class Adina Lithium Project (Winsome Resources: ASX:WR1) and adjacent to the Trieste Lithium Project (Loyal Lithium: ASX:LLI) and the Tilly Lithium Project (ASX:WR1). The Company’s Australian exploration assets are prospective for Uranium, Rare Earth Elements, Mineral Sands and Kaolin.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
