Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce a maiden Mineral Resource estimate on its Core property of 16.19 million tonnes at 1.12% Li2O, containing 182,000 tonnes of lithium oxide (Li2O) or 450,000 tonnes of Lithium Carbonate Equivalent (“LCE”) (the benchmark equivalent raw material used in the lithium industry). Approximately 52% or 8.50 million tonnes of the Mineral Resource is classified in the Indicated Resource category.
• Maiden Mineral Resource estimate of 16.2 Mt @ 1.12% Li2O
• Resource is based on 231 core holes and over 35,300 meters of drilling
• Metallurgical test work ongoing, with pilot-scale testing commencing this month
• Scoping Study for integrated lithium project expected in Q3 2018
Piedmont’s maiden Mineral Resource is the first resource estimate completed in over 30 years in the historic Carolina Tin-Spodumene Belt, which was the home of most of the world’s lithium production and processing from the 1950s until the 1980s. The region continues to be the home to the US lithium processing facilities of Albemarle Corporation and FMC Corporation. The current resource is within our Core Property, which is 5 kilometres north of the historic Hallman-Beam mine (ex-FMC).
SOURCE: PIEDMONT LITHIUM LIMITED
DATE: JUNE 14, 2018