Nasdaq: PLL         ASX: PLL
Linkedin-in Youtube

Additional near-Surface High Grade Drill Results from Piedmont’s Core Property

by
Additional Near-Surface High Grade Drill Results from Piedmont's Core Property.
  • Press Releases
  • ASX Announcements

    • Additional near-Surface High Grade Drill Results from Piedmont’s Core Property

     
    PRESS RELEASE  |  May 29, 2019  |  NASDAQ:PLL  |  ASX:PLL
    • Piedmont has received assay results from 41 additional drill holes
      from the Phase 4 drilling campaign, with 40 of the 41 holes reporting
      significant mineralization, including:

      • 17.0m @ 1.60% Li2O from 75mand
        6.6m @ 1.44% Li        2O from 64m in Hole
        19-BD-295
      • 14.9m @ 1.76% Li2O from 27m and 4.3m @
        0.95% Li        2O from 52m in Hole 19-BD-298
    • Occurrence of shallow intercepts is consistent with prior results
      on Piedmont’s Core property
    • An additional 18 Phase 4 holes have been drilled with assays pending
    • Piedmont is on track to report a significant increase in Mineral
      Resource estimates in June 2019
    • Scoping Study update with materially extended life of mine targeted
      for July 2019

    NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is
    pleased to announce Phase 4 drill results for 41 drill holes (refer to
    Appendix 1) completed on the Piedmont Lithium Project (“Project”)
    located within the world-class Carolina Tin-Spodumene Belt (“TSB”)
    in North Carolina, USA. The results are from Exploration Target areas
    and new properties within the Project’s Core property (“Core”)
    (Figure 1). Significant mineralization was encountered in 40 of the 41
    holes reported.

    This press release features multimedia. View the full release here:
    https://www.businesswire.com/news/home/20190529005244/en/

    Property Location Map (Graphic: Business Wire)

    Property Location Map (Graphic: Business Wire)

    Phase 4 drilling continues to expand the extent and continuity of the
    pegmatite system on Core, thus giving confidence in a significant
    Mineral Resource estimate update in June. In 2018, the Company announced
    a Mineral Resource estimate at Core of 16.2Mt @ 1.12% Li2O
    which supported a 13-year project life as reported in the Company’s
    Scoping Study announced in September 2018. In April 2019 the Company
    announced an increased Mineral Resource estimate of 19.0Mt @ 1.15% Li2O
    inclusive of a Mineral Resource estimate at the Company’s Central
    property.

    Keith D. Phillips, President and Chief Executive Officer, commented: “We
    are very pleased with these interim results from Phase 4 drilling, which
    continue to highlight high-grade mineralization near-surface.    The
    shallow nature of the ore body, combined with pure spodumene mineralogy,
    local by-product markets and exceptional infrastructure, are important
    factors which should position the Piedmont Lithium Project in the first
    quartile of the cost curve. We look forward to reporting a significant
    increase to our property-wide resource in June, and to reflecting that
    enlarged resource in an updated scoping study in July.    ”

    Click
    here to view the full ASX Announcement.

    For further information, contact:
    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:

    Erin Sanders
    SVP, Corporate Communications & Investor Relations
    T: +1 704 575 2549
    E: esanders@piedmontlithium.com