West Perth, WA / March 6, 2018 / JMN Wire / Piedmont Lithium Limited (ASX: PLL) (“Piedmont” or “Company”) is pleased to announce that the Company has secured an additional 107 acres of within the historic and world-class Carolina Tin-Spodumene Belt (“TSB”). This increases the Company’s total land holdings to 1,199 acres and, more importantly, consolidates a further 137-acre land position just south of the Company’s core land package where five rigs are currently drilling.
Piedmont continues to make significant progress on its 20,000-meter drilling campaign, with the first 13,000 meters committed to infill drilling to define the maiden Mineral Resource estimate. On completion of the infill drilling the management team expects to move one or more of the five rigs to the newly acquired properties to test the high priority drill targets. The Company will make an announcement on the progress of the current drilling campaign and future drill targets over the course of this quarter.
Keith D. Phillips, President and Chief Executive Officer, said, “The addition of a third large contiguous land block is highly strategic, particularly given the new property’s location on-trend and midway between our current core land package and the historic Hallman-Beam mine, one of the world’s largest sources of lithium from the 1950s to the 1990s. Our geologists are excited about the prospects on the new land, and we are optimistic that our strategy of TSB land consolidation will position us to develop a large, long-lived integrated lithium project.”
Highlights
- Piedmont increases land position by 10%, raising total acreage to ~1,200 acres
- New properties are on the Carolina Tin-Spodumene Belt and ~1 mile south of core property
- Grab samples identify multiple high-grade lithium bearing pegmatites including:
- 2.89% Li2O
- 2.58% Li2O
- 2.20% Li2O
- Drilling of high priority targets is expected to commence in Q2 2018, immediately after infill drilling for the maiden Mineral Resource has been completed on the core land package
- The Company continues discussions with multiple land owners in the region with the potential to add significantly to its land position in the belt over 2018
- Current drilling campaign is advancing well with over 6,000 meters completed (of a 20,000-meter total) and initial results to be announced over the coming weeks
