Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:)’s partner, Sayona Mining Ltd (ASX:SYA), has completed a mineral resource update for two lithium projects in Quebec, Canada, doubling the original resource estimates for a total of 119.1 million tonnes at 1.05% lithium oxide.
Piedmont holds a 25% project interest in the North American Lithium and Authier Projects in Quebec through an equity stake in Sayona Quebec and an equity interest of 17% in Sayona Mining.
The resource estimate was produced in compliance with both JORC-2021 and NI 43-101 (Canadian) standards.
Next step toward achieving vision
“Sayona’s reported doubling of the mineral resource at North American Lithium and Authier support Sayona Quebec’s claim as the largest spodumene resource in Canada, and this is the next step in helping Piedmont achieve its vision of becoming the leading lithium hydroxide producer in North America,” Piedmont Lithium chief operating officer Patrick Brindle said.
“We are happy and excited for our partners. Sayona Quebec is one of the largest and best-located spodumene businesses in Canada, and, as a past-producer with the bulk of plant and equipment in place, we believe is also the most advanced at this time.
“We look forward to Sayona’s upcoming release of new technical studies for both Authier and North American Lithium as we advance our plans to jointly restart spodumene concentrate production at North America Lithium in 2023 as the world’s demand for electric vehicles and lithium hydroxide continues to accelerate.”
Piedmont intends to create a world-class integrated lithium business in the US.
The company is located in the renowned Carolina Tin Spodumene Belt of North Carolina, and has the potential to be one of the world’s lowest cost producers of lithium hydroxide.