RELEASE | June 25, 2019 | ASX:PLL; NASDAQ:PLL
- 47% increase in Piedmont Project-wide Mineral Resource estimate to 27.9 Mt @ 1.11% Li2O
- 55% increase in Mineral Resource estimate on Core property to 25.1 Mt @ 1.09% Li2O
- 74% of the Core property resource is within 100m of surface and 97% is within 150m of surface
- 100% of the lithium resource is attributed to spodumene mineralization
- Core property Resource is based on 326 diamond core holes totalling over 51,000 meters
- 9,450 meters of drilling remain in Phase 4 drill campaign with numerous highly prospective targets
Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce a major update to the Mineral Resource estimate for the Company’s wholly-owned Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, USA (Table 1).
The Mineral Resource for the Core property has increased to 25.1 million tonnes (“Mt”) at a grade of 1.09% Li2O, bringing the Project’s total Mineral Resources to 27.9 Mt at a grade of 1.11% Li2O, containing 309,000 tonnes of lithium oxide (“Li2O”) or 764,000 tonnes of lithium carbonate equivalent (“LCE”) (the benchmark used in the lithium industry).
Core Property Mineral Resource Estimate
The Mineral Resource estimate (“MRE”) for Piedmont’s wholly owned Piedmont Lithium Project in North Carolina, USA was prepared by independent consultants, CSA Global Pty Ltd (“CSA Global”) in accordance with the JORC Code (2012 Edition).
An important feature of the Core MRE, is that 74% or 18.6 Mt is located within 100 meters of surface. Table 2 shows the details of the MRE with regards to depth from surface.
SOURCE: PIEDMONT LITHIUM