Piedmont Announces Additional High-Grade Drill Intercepts at Its Central Property
PRESS RELEASE | February 12, 2019 | NASDAQ:PLL | ASX:PLL
Central property drilling has yielded additional high-grade intercepts, including;
19.1m @ 1.65% Li2O in Hole 18-CT-004
15.1m @ 1.24% Li2O in Hole 18-CT-009
7.8m @ 1.69% Li2O and 4.4m @ 1.73% Li2O in Hole 18-CT-010
9.3m @ 1.24% Li2O and 4.3m @ 1.57% Li2O in Hole 18-CT-005
Previously-reported Central results included an intercept of 34m @ 1.02% Li2O in hole 18-CT-002
3 drill rigs are active on Piedmont’s Core property with initial results expected in coming weeks
Results demonstrate the widespread lithium mineralization within the Carolina Tin-Spodumene Belt
NEW YORK, Feb. 12, 2019 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce the results of an additional 8 drill holes completed at its Piedmont Lithium Project (“Project“), which is located within the world-class Carolina Tin-Spodumene Belt (“TSB“) in North Carolina, USA. These results continue to showcase the potential for additional high-grade lithium mineralization within the TSB, which has remained largely unexplored in the 20+ years since the depletion of the historic mines operated by predecessors of lithium industry leaders Albermarle Corporation and Livent Corporation (formerly FMC Lithium).
Core and Central Properties
All 8 core holes were completed on the Central property. The Company has now reported 11 drill holes from the Central property and has completed an additional 7 core holes which are expected to be reported in the next month.
The Central property is located less than a mile south of Piedmont’s Core property, which hosts a resource of 16.2 million tonnes @ 1.12% Li2O and a completed Scoping Study showing the potential to build a low-cost integrated lithium operation in the USA. Phase 4 drilling continues on the Core property and these results will also be released to the market as they become available over the coming months.
Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased with the results of drilling at the Central property, both in terms of the grades and thicknesses reported and also in the clear demonstration of the potential of the TSB. The United States Geological Survey undertook a detailed review of the TSB in the 1970s and documented the vast potential of the region at that time. Drilling is also going very well on our expanded Core property and suffice it to say we believe a significant expansion to our 16.2 Mt maiden resource will be forthcoming mid-year.“