Pioneer Minerals has identified a high-priority airborne electromagnetic bedrock conductor immediately adjacent to the historic Springfield Tungsten Mine, defining a compelling concealed drill target for the company's upcoming maiden drilling program.

Following completion of a Versatile Time Domain Electromagnetic survey, independent geophysical consultants Mitre Geophysics interpreted a shallow conductive body commencing approximately 50 to 70 metres below surface. The preferred model comprises a 70-metre by 140-metre conductive plate with a modelled conductance of approximately 130 Siemens.

The conductor is interpreted to potentially represent the pyrrhotite-rich sulphide component of the Springfield tungsten mineral system concealed beneath shallow cover. Previous petrographic studies confirmed that scheelite mineralisation at Springfield is intimately associated with pyrrhotite-rich sulphides, providing a geological explanation for the electromagnetic response. The spatial coincidence with a previously identified regional magnetic anomaly adds a second independent geophysical dataset supporting the geological model.

Airborne electromagnetic modelling principally constrains the location and geometry of the upper part of a conductive response and does not reliably determine the thickness or depth extent of a body. The true geometry, thickness and depth extent of the target beneath the modelled conductor remain unknown and require drill testing.

Pioneer joined the U.S. Defense Industrial Base Consortium in March 2026, a Department of Defense initiative operating under an Other Transaction Agreement framework.

“The VTEM™ survey has identified a concealed bedrock conductor in exactly the geological setting where we would expect to see the sulphide-rich component of the Springfield tungsten system. While drilling will ultimately determine the source, thickness and mineralisation associated with the conductor, its proximity to the historic mine, coincidence with the regional magnetic anomaly and consistency with the known scheelite-pyrrhotite association make this one of the highest-priority drill targets identified by Pioneer to date.”

— Michael Beven, Chief Executive Officer

Detailed geological mapping, structural interpretation and final drill planning are underway ahead of Pioneer scheduling its maiden reverse circulation drill program at Springfield for the September quarter of 2026, subject to planning of operation approval.

Read the full announcement: High-Priority VTEM Conductor Identified at Springfield