Piedmont Lithium resource upgrade has project on track to be North America’s largest
The project's lithium resource now measures 27.9 million tonnes grading 1.11% lithium oxide.
Company
ASX:PLL
Piedmont Lithium Inc (ASX:PLL) is developing a world-class integrated lithium business in the United States. The company's location is in the renowned Carolina Tin Spodumene Belt of North Carolina, and recently exercised an option to acquire an interest in the Ewoyaa Lithium Project in Ghana, which boasts an active mining lease and a large mineral resource. Piedmont has the potential to be one of the world’s lowest cost producers of lithium hydroxide.
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The project's lithium resource now measures 27.9 million tonnes grading 1.11% lithium oxide.
Importantly, the analysis results are expected to lead to high lithium recoveries.
The primary objective of the phase IV drilling program is to increase the size of the current Core mineral resource estimate and extend the project life-of-mine.
Last month, the company boosted the overall resources at its Piedmont Lithium Project in the US to 19 million tonnes at 1.15% lithium oxide.
The maiden resource at the Central property is 2.8 million tonnes at 1.34% lithium oxide.
Piedmont Lithium is a large landholder in North Carolina pursuing regulatory approvals for its Piedmont US-lithium project.
Definitive feasibility study and permitting approvals both on-track for year-end 2019.
High-grade mineralisation has been found in 23 holes at Piedmont’s Core and Central properties.
The work will evaluate dense medium separation technology, flowsheet optimisation and ore variability.
The company plans to build a lithium business of scale.
The phase four drill program continues with more results expected over the coming weeks.
Piedmont Lithium has been buying up land in North Carolina to extend the size of the Piedmont project.
Three directors have invested $375,000 to increase their respective shareholdings.
General meeting of shareholders approves the placement of 3.4 million shares to company directors.
By expanding the JORC resource, the 13-year mine life can be extended.
The applications are another step towards the goal of producing battery-grade lithium hydroxide in North Carolina.
The company’s shareholders will vote on $12.2 million of placements later this month.
Investments and investor services
A second tranche for $400,000 to company directors is subject to shareholder approval.
AustralianSuper is the largest Australian superannuation and pension fund, with roughly 1 in 10 Australian workers as members.
Recent drilling suggests some of the new acreage hosts lithium mineralisation.