Piedmont Increases Lithium Resources By 40%
08 April 2021 - 8:00PM
Business Wire
- Piedmont Lithium Project’s Global Mineral Resources
increased to 39.2 Mt @ 1.09% Li2O
- Exploration and infill drilling continues with five rigs
operating on the Core property
- The updated resource base will underpin the Scoping Study
update targeted for May 2021
- A further resource update will precede the DFS scheduled for
September 2021 release
Piedmont Lithium Limited (“Piedmont” or the “Company”)
(Nasdaq:PLL; ASX:PLL) is pleased to announce an updated Global
Mineral Resource estimate (“MRE”) (Table 1) for the Company’s
flagship Piedmont Lithium Project in North Carolina, USA which
includes updated Mineral Resource estimates from the Core and
Central properties and an initial Mineral Resource estimate from
the Huffstetler property (Table 2). The total MRE for the project
is 39.2 Mt at 1.09% Li2O (Figure 1), with 55% of the MRE currently
classified in the Indicated category. The Mineral Resource estimate
is reported in accordance with JORC Code (2012 Edition).
Table 1: Piedmont Lithium Global
Mineral Resources Estimate (MRE)
Resource Category
Tonnes (Mt)
Grade (Li2O%)
Li2O (t)
LCE (t)
Indicated
21.6
1.12
241,000
597,000
Inferred
17.6
1.03
181,000
449,000
Total
39.2
1.09
422,000
1,046,000
Keith D. Phillips, President and Chief Executive Officer,
commented: “Increasing the scale of our North Carolina mineral
resource to 39.2 Mt at 1.09% Li2O establishes our asset as one of
the largest spodumene resources in North America – and the only one
in the United States. The expanded resource offers the potential
for increased annual lithium production, something we will evaluate
as we prepare our updated Scoping Study for release next month. All
this is coming together at an ideal time, as the public and private
sectors dramatically increase their investment in the
electrification of America. Given the scope and strategic location
of our Piedmont Lithium Project, we believe we are ideally
positioned to play a critical role in helping the United States
build a clean energy economy and a U.S. based EV supply chain.”
To view the complete ASX Release, click here.
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version on businesswire.com: https://www.businesswire.com/news/home/20210408005119/en/
Keith D. Phillips President & CEO T: +1 973 809 0505
E: kphillips@piedmontlithium.com Brian Risinger Vice
President – Corporate Communications T: +1 704 910 9688 E:
brisinger@piedmontlithium.com
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