NEW YORK--(BUSINESS WIRE)--
- Drill results continue to showcase the outstanding potential of the lithium-rich, low-cost Carolina Tin-Spodumene Belt in North Carolina, USA
- Drill intercepts from 4 Central property holes returned outstanding grade:
- 43.2m @ 1.73% Li2O in Hole 19-CT-014
- 14.1m @ 1.63% Li2O in Hole 19-CT-013
- 28.1m @ 1.35% Li2O in Hole 19-CT-015
- Drill intercepts from 19 Core property holes delivered strong results consistent with historical drilling
- Phase 4 drilling continues with 3 drill rigs active on the Core property and a total of 57 holes completed to-date with assay results pending for 34 holes
- Piedmont expects to release a maiden Mineral Resource estimate for Central by April 2019
- Piedmont expects to release an updated Mineral Resource estimate for Core by June 2019
- High confidence in significantly enhancing the Project’s mine life post Mineral Resource updates
Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce Phase 4 drill results for 23 drill holes (refer Appendix 1) completed on the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, USA. The high-grade results are from the recently discovered pegmatites on the Central property and Exploration Target areas on the Core property (Figure 1). High-grade mineralization was encountered in all 23 holes drilled.
Positive drill results from the Central property continue including the thickest high-grade intercept reported on the Project to-date, 43.2m @ 1.73% Li2O, encountered in hole 19-CT-014. The Company now expects to publish a maiden Mineral Resource estimate for the Central property by April 2019.
Phase 4 drilling continues on the Core property with the principal aim to significantly expand the 13-year project life reported in the Company’s Scoping Study announced in September 2018. Further updates to the Project’s existing Mineral Resource of 16.2Mt @ 1.12% Li2O are expected over the next several months.
Keith D. Phillips, President and Chief Executive Officer, commented: “We are exceedingly happy with the early results from Phase 4 drilling. It is clear to us that the Core property will continue to grow in size, and the results from Central are potentially transformational for the Project. With a maiden resource for Central now planned for next month and an updated resource at Core expected in by June, we believe Piedmont will soon be positioned as one of the largest hard-rock lithium projects in North America, while enjoying all the benefits of our unique North Carolina, USA location.”