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Piedmont Lithium Limited 11.05.2018

Piedmont Lithium Identifies High Grade Mineralization at Its Recently-Acquired Sunnyside Property

 

-          The recently-acquired 255-acre property immediately south of the historic Hallman Beam Mine previously operated by FMC Corporation has been named the Sunnyside property and represents an integral part component of the Piedmont Lithium Project

-          The Sunnyside property hosts significant surface exposures of spodumene bearing pegmatite

-          High grade lithium mineralization identified in grab samples including;

  • 3.47% Li2O
  • 2.82% Li2O
  • 2.10% Li2O
  • 1.99% Li2O

-          Piedmont will commence drilling on the Sunnyside property in the coming weeks, immediately after completion of the infill drilling campaign currently finishing up on the core property

 

 

Piedmont Lithium Project Area Location

 

Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce a new exploration target, the Sunnyside property, within the historic Carolina Tin Spodumene Belt (TSB) in North Carolina.  The Sunnyside property hosts a high grade spodumene showing located immediately south of the historic Hallman Beam Mine, which was operated for 43 years by FMC Corporation and is less than 5 miles from Piedmont’s core property.

 

Sunnyside Property – Pegmatite Showings on Surface

 

Two large surface exposures of spodumene-bearing pegmatite have been identified by initial sampling and mapping and will be the main target of initial drilling on the Sunnyside property which will begin shortly as resource definition drilling is nearing completion at the core property.

 

Keith D. Phillips, President and Chief Executive Officer, said We are excited about the prospectivity of our new property and the naming is intended to highlight the potential significance of the Sunnyside area to the broader Piedmont Lithium Project.  A successful drill campaign is nearing completion on the core property and a maiden Resource is expected by the end of June.  We will then turn our attention to Sunnyside, where we are hopeful that mine-life and/or throughput additions will have a materially positive impact on the economics of the integrated project.

 

For further information, contact:

Keith D. Phillips    

President & CEO    

T: +1 973 809 0505    

E: kphillips@piedmontlithium.com   

 

Anastasios (Taso) Arima

Executive Director

T: +1 347 899 1522

E:  tarima@piedmontlithium.com

 

 

Sunnyside Geology

 

The Sunnyside property consists of approximately 255 contiguous acres and hosts significant occurrences of spodumene bearing pegmatite.  Initial interpretations recognize two bodies that generally trend to the west northwest which is subparallel to the trend of the historic Hallman Beam deposit.  Surface exposures of outcrop/sub crop/float range from 60 meters by 150 meters for the northern body and from 25 meters by 150 meters for the southern body. A barren pegmatite is mapped trending north northeast.

 

Select grab samples from the spodumene bearing pegmatite have yielded high grade values including 3.47%, 2,82%, 2.10% and 1.99% Li2O with further results in Appendix 1.  The mineralization is hosted in fine to coarse grained pegmatite.  Coarse grained varieties commonly contain spodumene crystals greater than 10 cm in length.  Locally, textural and/or compositional banding is observed which consistently dips moderately to the south.

 

Approximately 280 meters southwest of the main occurrence, several float blocks were sampled and returned 2.61% Li2O.  Also, to the southwest, the property owner reported spodumene in cuttings from a drilled water well.  An historic mica mine occurs due west of the main occurrence, where mine dump material includes coarse grained pegmatite with muscovite sheets/books greater than 10 cm in diameter.

 

The Company is highly encouraged by these initial results and considers the Sunnyside exposures as a high priority drill target.  Initial drilling is scheduled for the upcoming weeks and is expected to consist of 4-6 diamond drill holes totalling 600-1000 meters.  Data will be collected from oriented drill core which will aid in the structure interpretation of the spodumene pegmatites.

 

About Piedmont Lithium

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLLL) holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1990s.  The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina.  It is a premier location to be developing an integrated lithium business based on its favourable geology, proven metallurgy and easy access to infrastructure, power, R&D centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities.

 

Piedmont Lithium Location and Bessemer City Lithium Processing Plant (FMC, Top Right) and Kings Mountain Lithium Processing Facility (Albemarle, Bottom Right)

 

The Project was originally explored by Lithium Corporation of America which eventually was acquired by FMC Corporation (“FMC”). FMC and Albemarle Corporation (“Albemarle”) both historically mined the lithium bearing spodumene pegmatites within the TSB and developed and continue to operate the two world-class lithium processing facilities in the region which were the first modern spodumene processing facilities in the western world. The Company is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region with the aim of developing a strategic, U.S. domestic source of lithium to supply the increasing electric vehicle and battery storage markets.

 

Piedmont, through its 100% owned U.S. subsidiary, Piedmont Lithium Inc., has entered into exclusive option agreements and land acquisition agreements with local landowners, which upon exercise, allow the Company to purchase (or in some cases long-term lease) approximately 1,200 acres of surface property and the associated mineral rights.

 

Forward Looking Statements

 

This announcement may include forward-looking statements. These forward-looking statements are based on Piedmont’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Piedmont, which could cause actual results to differ materially from such statements. Piedmont makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

 

Competent Persons Statement

 

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr. Lamont Leatherman, a Competent Person who is a Registered Member of the ‘Society for Mining, Metallurgy and Exploration’, a ‘Recognized Professional Organization’ (RPO). Mr. Leatherman is a consultant to the Company. Mr. Leatherman has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Leatherman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

APPENDIX 1SUMMARY OF GRAB SAMPLES

 

To view entire news in English language, including Appendix 2, please follow the link:

https://www.asx.com.au/asxpdf/20180510/pdf/43txn6137yrtfw.pdf

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