Pioneer Lithium announcement overview

Pioneer Lithium Limited (ASX: $PLN) has applied for 37 tenements totaling 73,061ha in Bahia state, Brazil, with compelling potential for clay-hosted rare earth deposits. The Verde Valor Project, located in a major coincident thorium-uranium radiometric anomaly, is expected to complement the company's existing critical minerals projects. The project site, near Morro do Chapéu and Tapiramutá City, boasts highly weathered saprolite clays, presenting a favorable geological setting for critical mineral discoveries.

Executive commentary on Verde Valor tenements

The Verde Valor Project presents an excellent opportunity for Pioneer to enter the fast-growing Brazilian critical minerals market. The staking of these highly strategic tenements in no way takes our eyes off our flagship Root Lake lithium tenements in Ontario, but simply adds additional value for our shareholders whilst we finalize preparations for our maiden Root Lake drilling campaign. We believe Verde Valor represents an excellent opportunity to enter a world-class jurisdiction for highly sought-after clay-hosted rare earths, which are paramount in the green energy transition, and will fully complement our other strategic critical minerals assets. We look forward to updating the market on our progress on all our projects in the near term.

Summary of Pioneer Lithium's announcement

Pioneer Lithium has secured 73,061ha of strategic rare earth tenement applications in Bahia state, Brazil, with compelling potential for clay-hosted rare earth deposits. The Verde Valor Project, located within a major coincident thorium-uranium radiometric anomaly, is expected to complement the company's existing critical minerals projects. The project site, near Morro do Chapéu and Tapiramutá City, presents a favorable geological setting for critical mineral discoveries. Pioneer Lithium remains focused on its flagship Root Lake lithium project in Ontario, Canada, and considers the cost of staking the Verde Valor Project tenement applications immaterial. The company looks forward to updating the market on its progress on all projects in the near term.