Nasdaq: PLL         ASX: PLL
Twitter "X" Icon Linkedin-in Youtube

Piedmont Announces Initial Mineral Resource Estimate at Central Property

by
Initial Central Mineral Resource Estimate Boosts Total Project.
  • Press Releases
  • ASX Announcements

    • Piedmont Announces Initial Mineral Resource Estimate at Central Property

     
    PRESS RELEASE  |  April 23, 2019  |  NASDAQ:PLL  |  ASX:PLL
    • Initial Mineral Resource at Central property of 2.80 Mt @ 1.34% Li2O
      based on only 18 drill holes
    • Project-wide Mineral Resources increased to 19.0 Mt @ 1.15% Li2O
    • Phase 4 drilling continues with three rigs operating on the Core
      property
    • Core Mineral Resource update expected in June 2019 based on
      approximately 70 Phase 4 holes

    NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is
    pleased to announce an initial Mineral Resource estimate on its Central
    property of 2.8 Mt at 1.34% Li2O.
    Approximately 50% or 1.41 million tonnes of the Mineral Resource is
    classified in the Indicated Resource category. The Mineral Resource
    estimate has been prepared by independent consultants, CSA Global Pty
    Ltd (“CSA“) and is reported in accordance with JORC Code (2012
    Edition).

    This press release features multimedia. View the full release here:
    https://www.businesswire.com/news/home/20190423006022/en/

    Figure 1. Resource Location Map (Graphic: Business Wire)

    Figure 1. Resource Location Map (Graphic: Business Wire)

    The reported Central Mineral Resource estimate (“MRE“) above is
    based on 18 diamond core holes totaling 2,840 meters. Significant
    intercepts from all 18 holes are reported in Appendix 1. The deposit is
    open in all directions. The Central Property is located approximately 1
    mile south of the Core Property (Figure 1). The Company’s
    project-wide Mineral Resources now total 19.0 Mt at 1.15% Li2O.

     
    Piedmont Lithium Project Mineral Resource Estimate Summary (0.4%
    cut-off)
    Resource Category     Core Property     Central Property     Total
        Tonnes (Mt)     Grade (Li2O%)     Tonnes (Mt)     Grade (Li2O%)     Tonnes (Mt)     Grade (Li2O%)
    Indicated     8.50     1.15     1.41     1.38     9.91     1.18
    Inferred     7.70     1.09     1.39     1.29     9.09     1.12
    Total     16.20     1.12     2.80     1.34     19.00     1.15
                       

    Phase 4 drilling is ongoing and the Company expects to announce a
    further Mineral Resource update in June 2019. The Central MRE and
    overall Resource update will be included in the Project’s updated
    scoping study scheduled for July 2019.

    Keith D. Phillips, President and Chief Executive Officer, commented: “We
    are very pleased with the initial high-grade Mineral Resource Estimate
    at Central.    This is a property with great potential and the MRE
    is based on only 18 drill holes, 16 of which encountered thick,
    high-grade mineralization.    We hope to expand our land holdings in
    this area and ultimately drill out a substantially larger resource at
    Central.    Phase 4 drilling continues with 3 rigs operating on the
    Core property and we expect a material resource upgrade in June. The
    Piedmont project is quickly becoming one of the largest hard-rock
    lithium projects in North America, while enjoying all the benefits of
    our unique North Carolina, USA location.    ”

    Click
    here to view the full ASX Announcement

    Keith D. Phillips
    President & CEO
    T: +1 973 809 0505
    E:
    kphillips@piedmontlithium.com

    Anastasios
    (Taso) Arima
    Executive Director
    T: +1 347 899 1522
    E: tarima@piedmontlithium.com


    For further information, contact:

    Erin Sanders
    SVP, Corporate Communications & Investor Relations
    T: +1 704 575 2549
    E: esanders@piedmontlithium.com