NEW YORK, Dec. 12, 2017 /PRNewswire/ — Piedmont Lithium Limited (ASX: PLL, OTC-Nasdaq: PLLLY) (“Piedmont” or “Company”) is pleased to announce that following completion of the recent capital raising and building upon the successful results from previous drilling programs, a new comprehensive 20,000-meter drill program has commenced at the Piedmont Lithium Project (“Project“), located within the world-class Carolina Tin-Spodumene Belt (“TSB“). The new drill program will be focused on completing infill drilling for the definition of a maiden Mineral Resource and also aggressively testing the extensions of the pegmatites identified both along strike and down dip.
In addition, based on the drilling results on the portions of the Project explored to-date and geological modelling of the pegmatites, an initial Exploration Target of between 10 to 15 million tonnes at a grade of between 1.00% and 1.25% Li2O has been estimated by CSA Global. The potential quantity and grade of this Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
SOURCE: PIEDMONT LITHIUM
DATE: DECEMBER 12, 2017