Dual Mineral Systems Confirmed at Springfield as Pioneer Becomes PMM - A Tungsten Story that Needs Attention.
- Noel Ong
- 1 hour ago
- 8 min read
Announcement
1. North Pine Project Delivers High Grade Tungsten and Gold 1 December 2025 (click here to view the announcement)
2. Change of Company Name and ASX Code 2 December 2025 (click here to view the announcement)
Pioneer Minerals Ltd (ASX: PMM) (formerly Pioneer Lithium Ltd) is advancing its North Pine Project in Idaho, USA, a region renowned for its Tier-1 critical minerals endowment (Figure 1). The latest field program has delivered multiple high-grade tungsten and gold results from the Springfield Prospect, alongside the identification of a new polymetallic precious-metal system at Silver Cliffs. These results materially expand the exploration proposition across the broader North Pine tenure.
Figure 1: North Pine Project Overview Map (source: PMM)
The Business of the Company: Focus – Projects
Pioneer Minerals is systematically exploring the North Pine Project, comprising the Springfield, Silver Cliffs, and Northman Prospects. The projects are strategically located near Perpetua Resources’ Stibnite Gold Project, one of North America’s most advanced antimony–gold developments.
The Company's primary commodity exposure—tungsten, antimony, and precious metals—aligns directly with the US Government’s critical minerals priority list.
Highlights – 1 December 2025: High-Grade Tungsten & Gold Systems Defined at Springfield
(Based on ASX Announcement 1 December 2025)
1. Springfield Prospect – High-Grade Tungsten System Confirmed
(Figure 2 & Table 1)
Multiple rock-chip samples returned exceptional tungsten grades up to 2.98% WO₃ (S06).
Figure 2: High-grade tungsten samples (source: PMM)
Table 1: Significant tungsten (>0.4%) and gold assay results (> 1 g/t) of rock chip samples taken from Springfield Prospect
Additional strong WO₃ values include 0.96% (S28) (Figure 3), 0.93% (S19), 0.83% (S20), 0.66% (S12), 0.64% (S02), 0.62% (S42).
Figure 3: Sample 28 - Pyrrhotite-rich skarn (source: PMM)
Geology and geochemistry confirm a robust reduced scheelite skarn system (Figure 4).
Figure 4: WO₃ & Au Sample Location Map (source: PMM)
2. Springfield Prospect – High-Grade Gold System Identified
Gold assays peak at 7.75 g/t Au (S48), with strong supporting results (Figure 5):– 1.51 g/t Au (S46)– 1.49 g/t Au (S75)
Figure 5: Sample S48 - Gold-bearing oxidised sulphides (source: PMM)
Associated Ag–Sb–As–Cu suite confirms a structurally-hosted precious-metal vein system, independent of tungsten mineralisation.• Multivariate geochemical analysis confirms two separate mineralising events:– High-grade WO₃ skarn system– Independent Au–Ag–Sb–As vein system
3. Silver Cliffs Prospect – New Polymetallic System Defined (Figure 6)
Figure 6: Silver Cliffs Sampling Map (source: PMM)
• Limited sampling due to weather still returned strong mineralisation (Table 2):– 3.89 g/t Au (SC03)– 1.1 g/t Au + 34.8 g/t Ag + 1,077 ppm Sb (SC19) (Figure 7)
Figure 7: SC19 Outcrop Photograph (source: PMM)
Table 2: Highlight table of rock chip geochemical results from rock chip samples taken from Silver Cliffs prospect showing gold mineralisation and associated polymetallic mineralisation.
• Results support a low-sulfidation epithermal-style precious-metal system.
Highlights – 2 December 2025: Rebranding to Pioneer Minerals Ltd (ASX: PMM)
(Based on ASX Announcement 2 December 2025)
The Company’s name has officially changed from Pioneer Lithium Limited to Pioneer Minerals Limited.
A new ASX ticker, PMM, will apply from 2 December 2025.
The change reflects the Company’s diversification beyond lithium into tungsten, antimony, gold, and critical minerals at the North Pine Project.
Leadership Commentary
Pioneer CEO Michael Beven commented:
“I am extremely encouraged by the results from our latest sampling program at North Pine. The confirmation of consistently high-grade WO₃ values at Springfield represents an important milestone for the Company. These results clearly validate our view that Springfield hosts a robust and well-developed tungsten skarn system, and they provide the strongest evidence to date that this prospect has the potential to develop into a significant tungsten discovery.
What is particularly exciting is that our geochemical interpretation now confirms the presence of a second, entirely separate mineralising event at Springfield. The high-grade gold results, together with the associated silver, antimony and arsenic pathfinders, indicate the existence of a structurally controlled precious-metal system that has never been systematically explored. This dramatically expands the exploration potential of the Springfield area beyond tungsten alone and introduces an entirely new gold opportunity overlaying the skarn system.
The recognition of a new polymetallic precious-metal system at Silver Cliff further strengthens the district-scale potential of North Pine. We now have multiple high-priority targets across the project area, each supported by strong geochemistry and clear geological context. Our upcoming field programs will focus on advancing both the tungsten skarn and the gold–silver vein systems, and I am confident this work will continue to unlock value for our shareholders”.
About the Project
The North Pine Project consists of 223 staked lode claims (~18.37 km²) in Idaho. The district hosts geological analogues to major regional deposits such as Stibnite and Horse Heaven.
Historical tungsten mining at Springfield (1953–1955) produced:
39,000 tons of ore @ 0.35–0.40% WO₃
High-grade >70% WO₃ concentrate sold into US strategic supply chains.
Current work includes:
Comprehensive rock-chip sampling
Petrography, multivariate geochemical interpretation
Target definition at Springfield, Silver Cliffs, and Northman
Near-Term Milestones to Watch
Airborne magnetic & radiometric survey to commence over Springfield, Silver Cliffs, and Northman (line-spacing: 50m).
Petrographic analysis underway on six high-WO₃ samples.
Recovery test work initiated on ~60 kg of Springfield Mine tailings for gold & tungsten recovery.
Systematic follow-up planned for Silver Cliffs once the weather allows full access.
Continued updates as BLM claim confirmation progresses.
Samso Concluding Comments
The Pioneer Minerals story is an intriguing one that I have only come across because the CEO, Michael Beven, and I have crossed paths previously. The lithium hopeful list on the ASX at the end of the boom, or should we say, the start of the lithium demise, so as usual, companies moved to what is marketable. The shift to Tungsten and potentially gold is a good move. The hint of antimony is there, but I think the Tungsten and gold play is what made me bring PMM onto the Samso platform.
What makes the whole PM story even better is that the projects were acquired and not purchased, which makes the technical part of the story more credible. What makes me comfortable is that Michael Beven is a geology CEO with corporate backing from the Board. For me, this adds fuel to allow me to believe the geological evidence.
The Springfield results present a compelling early-stage picture: multiple rock-chip samples exceeding 1% WO₃ place the prospect amongst the stronger tungsten-bearing skarn systems reported in recent years. The geological consistency of scheelite-bearing skarn textures, Fe-Ca associations, and elevated HREE signatures points toward a robust magmatic-hydrothermal driver. In a market where tungsten supply remains concentrated and vulnerable, discoveries of this nature in the United States carry outsized strategic value.
The existence of a skarn source is good for creating scale, for me at least, that is the heat source, the engine, so to speak. Coupled with what we can see already as evidence of mineralisation, that is, at least some sign that the potential for juice in the story exists.
Equally important is the recognition of a second, unrelated gold–silver–antimony–arsenic system overprinting the tungsten skarn. This style of structural mineralisation is characteristic of late-stage fluid pulses and often forms high-grade pods along developing fault systems. The presence of 7.75 g/t Au in surface samples suggests the system is fertile. For investors, dual mineral systems offer portfolio-level optionality—particularly when both tungsten and gold possess strong critical-mineral credentials.
Silver Cliffs adds further depth to the story. Even with weather-restricted field access, assays such as 3.89 g/t Au and 1.1 g/t Au with strong Ag and Sb support a low-sulfidation epithermal interpretation. These systems can host high-grade shoots, and the geological analogue to Resolution Minerals’ Golden Gate targets strengthens confidence in the model. The upcoming magnetic and radiometric survey should greatly clarify fault architecture and fluid pathways.
As exploration accelerates across North Pine, the dual focus on tungsten and precious metals positions Pioneer to benefit from both critical-mineral demand and the resilience of gold markets. For a company at this stage of discovery, the emerging dataset is encouraging and worthy of investor attention.
Market Participation
From a market perspective, the "punt" is still good. A market capitalisation of around AUD $4M is a good place for positioning. As you can see in Figure 8, the share price has been steady, and this is probably a good sign that the capital structure is tight. Otherwise, this share price would be significantly lower by now.
Figure 8: Share price chart for Pioneer Minerals as of 22nd December 2025 (source: CommSec)
One of the issues with the Tungsten sector for the ASX is that there appears to be a great disconnect between the surging Tungsten price and a lack of interest in Tungsten ASX stocks. Getting in early now, before everyman and his dog gets in, may be a good move at this time.
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