West Perth, WA / March 15, 2018 / JMN Wire / Piedmont Lithium Limited (ASX: PLL) (“Piedmont” or “Company”) is pleased to advise that the Company continues to define high grade lithium mineralisation from its properties in the Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, United States. The Company has received the assay results from the final 17 holes from the Phase 2 campaign and the first 21 holes from the current Phase 3 drilling campaign.
The results build upon the previous drilling completed on the property and continue to show similar high-grade mineralisation and pegmatite intercepts. The Company has six drill rigs on site and has completed 52 holes totalling just over 9,000 meters of its planned 20,000 Phase 3 program. The Company is on schedule to release its maiden JORC compliant resource estimate by the end of the 2nd Quarter 2018.
Keith D. Phillips, President and Chief Executive Officer, said, “These infill drill results are consistent with our expectations, and with six rigs on property we look forward to a steady stream of drilling news over the next several weeks, leading ultimately to a maiden Resource estimate in June and a Scoping Study shortly thereafter.”
Highlights
- Piedmont has received further high-grade assay results including:
- 22.4m of cumulative thickness of mineralization (non-continuous) across 4 pegmatites which includes high grade intercepts of 6.0m @ 1.39% Li2O and 3.0m @ 1.59% Li2O in Hole 17-BD-83
- 22.3m of cumulative thickness of mineralization (non-continuous) across 5 pegmatites which includes high grade intercepts of 8.3m @ 1.10% Li2O and 5.9m @ 1.53% Li2O in Hole 17-BD-129
- 21.3m of cumulative thickness of mineralization (non-continuous) across 6 pegmatites which includes high grade intercepts of 8.9m@ 1.32% Li2O and 4.0m @ 1.78% Li2O in Hole 17-BD-127
- 19.8m of cumulative thickness of mineralization (non-continuous) across 6 pegmatites which includes high grade intercepts of 5.2m @ 1.79% Li2O and 3.0m @ 1.57% Li2O in Hole 17-BD-131
- 18.5m of cumulative thickness of mineralization (non-continuous) across 5 pegmatites which includes high grade intercepts of 3.5m @ 1.50% Li2O and 3.1m @ 1.81% Li2O in Hole 17-BD-122
- 16.5m of cumulative thickness of mineralization (non-continuous) across 3 pegmatites which includes high grade intercepts of 4.8m @ 1.45% Li2O and 4.5m @ 1.87% Li2O in Hole 17-BD-94
- Phase 3 drilling program is almost 50% complete with 6 drill rigs now on location
- Over 30 holes are currently being assayed with results expected in April
- Maiden resource in on-track for delivery by end of 2nd Quarter 2018
- Results continue to highlight the potential for the Company build a strategic low cost integrated lithium operation in the US
