Figure 1: Piedmont Lithium Project located within the TSB (Photo: Business Wire)
Completed federal permitting required to develop the proposed mine and concentrator at the Company’s Piedmont Lithium Project (“Project”) in North Carolina, United States, following receipt of a Clean Water Act Section 404 Standard Individual Permit from the US Army Corps of Engineers (“USACE”);
Appointed Hatch to deliver a pre-feasibility study (“PFS”) for the Company’s proposed lithium hydroxide chemical plant in Kings Mountain, North Carolina, United States. Hatch is a global leader in the development of lithium conversion projects and will utilize its experienced lithium staff to complete the PFS by mid-2020. Primero and Marshall Miller are continuing their work on the proposed mine and concentrator at the Project;
In response to strong interest from prospective lithium hydroxide customers, the Company is accelerating the development of its lithium chemical plant by compressing its project timeline into a single-stage, effectively accelerating chemical plant development by one year while deferring the mine and concentrator construction start date by one year, resulting in integrated operations from day one;
Completed the Company’s Phase 4 drill program, which comprised 113 holes for a total of 18,393 meters. The Phase 4 drill program was successful in expanding the Project’s mine life from 13 to 25 years (as reported in the expanded Scoping Study published in August 2019);
Assays from the final 19 drill holes of the Phase 4 drilling program at our Central and Core properties intersected significant mineralization, including 36.0m @ 1.11% Li2O and 44.9m @ 1.30% Li2O in Hole 19-CT-19, 13.0m @ 1.28% Li2O and 7.3m @ 1.37% Li2O in Hole 19-CT-26, and 14.8m @ 1.55% Li2O and 12.4m @ 1.02% Li2O in Hole 19-BD-332;
Soil and rock chip sampling led to the discovery of five new spodumene-bearing pegmatites in areas that have not previously been explored;
Commenced permitting for the proposed lithium hydroxide chemical plant;
Entered into a Letter of Intent (“LOI”) with Ion Carbon & Minerals, LLC (“Ion”) to partner to market the quartz, feldspar, and mica produced at the Project. Ion is wholly owned by the AMCI Group, a leading specialist natural resources investor and marketer with a long-standing track record of success across a broad range of commodities; and
Continued numerous preliminary off-take, financing and strategic conversations, including companies from the lithium, mining, chemicals, battery, automotive and private equity sectors.
Mr Anastasios (Taso) Arima will step down as Executive Director of the Company, effective from January 31, 2020, to focus on his other business interests. Mr Arima will remain as a Non-Executive Director of the Company.
Complete the PFS for the chemical plant in Q2 2020;
Finalize the bench scale lithium hydroxide testwork program and produce initial product samples;
Continue offtake discussions for lithium hydroxide with participants in the global battery supply chain; and
Continue to evaluate strategic partnering options.