Encouraging Initial Drilling Results From New Central and Sunnyside Properties
PRESS RELEASE | October 16, 2018 | NASDAQ:PLL | ASX:PLL
Piedmont has received assay results from initial drilling at its new Central and Sunnyside properties
7 holes were completed at Sunnyside and 3 holes were completed at Central
Both properties yielded significant intercepts of high-grade lithium mineralisation, including:
34.0m @ 1.04% Li2O of continuous mineralization across one pegmatite in Hole 18-CT-002
20.9m @ 1.42% Li2O of continuous mineralization across one pegmatite in Hole 18-SS-001
NEW YORK, Oct. 16, 2018 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to advise that the Company has received all assays results from its initial exploratory drilling on its new Sunnyside and Central properties in the Carolina Tin-Spodumene Belt (“TSB“) in North Carolina, United States. This maiden drill program comprised 10 holes, 7 from Sunnyside and 3 from Central, totalling 1,411 meters.
Keith D. Phillips, President and Chief Executive Officer, said: “We are exceedingly happy with the initial results from Central and Sunnyside, with Hole 18-CT-002 in particular being the widest intercept encountered to-date. We have delineated a world-class resource of 16.2Mt @ 1.12% Li2O at our Core property, supporting a project life of 13 years as reported in our recent Scoping Study. These initial results at Central and Sunnyside indicate the potential for a significant project life extension.”
Piedmont is encouraged by the initial drill results from Central and Sunnyside properties and is designing follow up drill campaigns for both. In addition, over 650 soil samples have been collected and over 33-line kilometres of walking magnetometer geophysical surveys have been undertaken on the properties. Soil assays are still pending and will be paired with the geophysical data to produce drill targets for the properties.
Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLLL) holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location to be developing and integrated lithium business based on its favourable geology, proven metallurgy and easy access to infrastructure, power, R&D centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities.