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Piedmont Lithium Ltd

Piedmont Lithium commences 25,000-metre drill program to extend project life

By expanding the JORC resource, the 13-year mine life can be extended.

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The company raised $12 million in December to fund the drilling

Piedmont Lithium Ltd (ASX:PLL) has commenced a 25,000-metre phase four drill program at the Piedmont Lithium Project within the Carolina Tin-Spodumene Belt in the US.

The aim of the program is to significantly expand on the 13-year project life reported in the scoping study released in mid-September 2018.

19,000 metres will be focused on the Core property and the remaining 6,000 metres will be focused on the Central and Sunnyside properties.

READ: Piedmont Lithium submits key permit applications for US lithium project

Piedmont’s president and CEO Keith D. Phillips said: “We are excited about the phase 4 drill campaign and are confident that it will lead to a further enhancement of the 13-year mine life and
US$888 million NPV reported in our updated scoping study in September 2018.

“Our prior work has shown the powerful economic advantages of our North Carolina location, and as we continue to build our land package and resource base, we will establish the project as one of the world’s most significant and strategic hard-rock lithium properties.”

The 110-hole, 19,000-meter Core property drill campaign is designed to increase the overall JORC resource estimate and to upgrade the resource from the Inferred to the Indicated category.

Significant portions of the Core program will focus on a previously reported Exploration Target of between 4.5 to 5.5 million tonnes grading between 1.10% and 1.20% lithium oxide.

One rig was mobilized to the Central Property in December and has to-date completed 8 holes totalling 1,204.8 meters with assays pending.

These holes were following up October 2018 results of 7.0 metres at 1.53% lithium and 34 metres at 1.04% lithium.

Additional earlier stage targets at Sunnyside, Central and other properties have been identified using recent soil sampling which will also feature in the 25,000-metre program.

Quick facts: Piedmont Lithium Ltd

Price: $0.10

Market: ASX
Market Cap: $66.68 m
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