West Perth, WA / February 1, 2018 / JMN Wire / Piedmont Lithium Limited (ASX: PLL) (“Piedmont” or “Company”) is pleased to advise that the Company has increased its lithium mineral rights by 188 acres through a strategic land acquisition agreement signed with local landowners in the Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, United States. The new acreage adjoins a 57-acre parcel already under option by Piedmont, creating a large 245-acre contiguous land package in close proximity to the past-producing Hallman-Beam mine and within four miles of the Company’s current Phase 3 drilling program.
Keith D. Phillips, President and Chief Executive Officer, said, “This land acquisition is highly-strategic because the property is located on-trend and immediately south of the historic Hallman-Beam mine, one of the world’s largest sources of lithium from the 1950s to the 1990s. In combination with 57 adjacent acres we already control, we now have a 245-acre package which could serve as a second core mining area for the Company, possibly enabling us to significantly increase the size of our lithium project. Our geologists are excited about the prospects on the new land and will be designing a drill program in the near future.”
Highlights
- Piedmont increases land position at its Piedmont Lithium Project by 20% to a total of 1,092 acres
- Agreement to purchase 188 acres within the Carolina Tin-Spodumene Belt, the historic home of world lithium production from the 1950s to the 1990s
- Builds a contiguous 245-acre tract due south of FMC’s past-producing Hallman-Beam mine
- Piedmont plans to accelerate its land consolidation strategy throughout 2018
