Piedmont Announces Initial Mineral Resource Estimate at Central Property

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:

Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com
Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com