West Perth, WA / November 29, 2017 / JMN Wire / Piedmont Lithium Limited (ASX: PLL) (“Piedmont” or “Company”) is pleased to report further high-grade mineralisation from the 93-hole Phase 2 drilling campaign on the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”).
Phase 2 Results and Discussion
In addition to the first 51 Phase 2 drill holes (reported September 26, 2017 and November 2, 2017), the current group of 26 drill holes reported in this release continue to define high grade mineralised trends totalling over 4 kilometers in strike. The entire Pegmatite system remains open at depth and along strike. Drill hole details and weighted-composite assay intercepts are attached as Table 1.
Geological modelling has begun on the results from the Phase 2 drill campaign with initial results indicating the presence of 38 pegmatite bodies across the 4+ kilometres of strike length on the Project. Importantly, the vast majority of the dykes have been intersected at shallow depths of less than 100 metres vertically. These initial results give the Company confidence in being able to define a shallow, open-pitable deposit which is strategically located within the historical lithium mining and processing region of the USA.
Logging, sampling and shipping of all Phase 2 drill core samples has been completed. All assays from the Phase 2 program should be received from SGS Labs by early-December.
The Phase 2 drill holes reported in this release highlight the initial high grade intercepts with significant cumulative thickness within the Star Corridor and further defined the mineralization in the B, F & G corridors. Significant intercepts within the B, F & G corridors continued to display similar high grade results as have been previously reported.
Keith D. Phillips, President and Chief Executive Officer, said, “These additional drill results are outstanding and confirm our belief in the Piedmont Lithium Project. Our team has discovered a world-class mineral system with over 30 pegmatite bodies over a combined 4+ kilometers of strike length, virtually all within 100 meters of surface. We look forward to receiving the remaining Phase 2 assay results over the coming weeks.”
Highlights
- Assay results from a further 26 drill holes of the Phase 2 program have been received and continue to confirm high grade lithium mineralization along the 4 kilometers of strike within the Project including:
- 24.38m of cumulative thickness of mineralization across 3 pegmatites which includes high grade intercepts of 18.04m @ 1.01% Li2O and 1.99m @ 1.28% Li2O in Hole 17-BD-87
- 23.64m of cumulative thickness of mineralization across 5 pegmatites which includes high grade intercepts of 11.60m @ 1.29% Li2O, and 5.97m @ 1.14% Li2O in Hole 17-BD-77
- 22.82m of cumulative thickness of mineralization across 4 pegmatites which includes high grade intercepts of 9.74m @ 1.31% Li2O and 5.73m @ 1.36% Li2O in Hole 17-BD-98
- 21.86m of cumulative thickness of mineralization across 4 pegmatites which includes high grade intercepts of 13.95m @ 1.34% Li2O and 2.93m @ 1.41% Li2O in Hole 17-BD-95
- 15.69m of cumulative thickness of mineralization across 3 pegmatites which includes high grade intercepts of 11.09m @ 1.27% Li2O and 3.41m @ 1.20% Li2O in Hole 17-BD-90
- 12.51m of cumulative thickness of mineralization across 2 pegmatites which includes a high grade intercept of 10.55m @ 1.46% Li2O in Hole 17-BD-102
- The Company has now received assays for 76 of the 93 Phase 2 drill holes and anticipates receiving assay results for the remaining 17 drill holes over the next few weeks
- A Schematic Long Section for the B and G corridors has been prepared based on drilling results to-date (Figure 1) and illustrates the continuity of mineralization along strike for 1400 meters
- Preliminary geological modelling has, thus far, identified 38 pegmatite bodies within the 4+ kilometers of strike on the Project with the vast majority being intersected at depths less than 100 meters from surface
- As a result of the work done to date the Company is confident in defining a shallow, open-pitable deposit within the Piedmont Lithium Project strategically located within the USA
