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Piedmont Lithium Limited 29.05.2019

Additional Near-Surface High Grade Drill Results from Piedmont’s Core Property

 

         Piedmont has received assay results from 41 additional drill holes from the Phase 4 drilling campaign, with 40 of the 41 holes reporting significant mineralization, including:

         17.0m @ 1.60% Li2O from 75m and 6.6m @ 1.44% Li2O from 64m in Hole 19-BD-295

         14.9m @ 1.76% Li2O from 27m and 4.3m @ 0.95% Li2O from 52m in Hole 19-BD-298

         Occurrence of shallow intercepts is consistent with prior results on Piedmont’s Core property

         An additional 18 Phase 4 holes have been drilled with assays pending

         Piedmont is on track to report a significant increase in Mineral Resource estimates in June 2019

         Scoping Study update with materially extended life of mine targeted for July 2019

 

Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce Phase 4 drill results for 41 drill holes (refer to Appendix 1) completed on the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (TSB) in North Carolina, USA. The results are from Exploration Target areas and new properties within the Project’s Core property (Core”) (Figure 1). Significant mineralization was encountered in 40 of the 41 holes reported.

 

Phase 4 drilling continues to expand the extent and continuity of the pegmatite system on Core, thus giving confidence in a significant Mineral Resource estimate update in June. In 2018, the Company announced a Mineral Resource estimate at Core of 16.2Mt @ 1.12% Li2O which supported a 13-year project life as reported in the Company’s Scoping Study announced in September 2018. In April 2019 the Company announced an increased Mineral Resource estimate of 19.0Mt @ 1.15% Li2O inclusive of a Mineral Resource estimate at the Company’s Central property.

 

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased with these interim results from Phase 4 drilling, which continue to highlight high-grade mineralization near-surface. The shallow nature of the ore body, combined with pure spodumene mineralogy, local by-product markets and exceptional infrastructure, are important factors which should position the Piedmont Lithium Project in the first quartile of the cost curve. We look forward to reporting a significant increase to our property-wide resource in June, and to reflecting that enlarged resource in an updated scoping study in July.

 

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

 

Figure 1. Property Location Map

 

Core Property Drilling Discussion

 

The primary objective for the Phase 4 drilling program on Core is to increase the size of the current Core Mineral Resource estimate (16.2Mt @ 1.12% Li2O) and extend the overall projected life-of-mine. Other objectives are to complete selected infill drilling to maintain a ratio of indicated to inferred resource classification and to explore potential mineralized trends on newly acquired properties with the Core property boundary.

 

In June 2018, the Company reported an Exploration Target of 4.5 to 5.5 million tonnes at a grade between 1.10% and 1.20% Li2O. The potential quantity and grade of this Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Much of the Phase 4 drilling at the Core property has focused on these areas.

 

To date at Core, 78 Phase 4 drill holes totaling 13,210 meters have been completed. On March 14, 2019, the Company released the initial drill results for 19 holes and 41 holes are in this press release (Figure 2) with 18 holes assays pending. Of the 60 holes reported, 59 holes have had significant mineralization, thus expanding the extent and continuity of the pegmatite system on the Core property.

 

Recent drilling in the southern portion of Core (holes 295, 298 and 299) has confirmed several thick, high grade spodumene bearing pegmatites. As seen on other portions of the property, these pegmatites have either a moderate southeast dip or near flat orientations (Figure 3).

 

The recognition of the flat pegmatite dikes has provided potential for mineralization in areas where it was once thought to be limited. Additional drilling, post resource update, will focus on these areas of renewed potential, such as the area highlighted on the cross section below (Figure 3.)

 

Figure 2. Core Property Drill Hole Location map

 

 Figure 3. Cross section for Core Property

 

About Piedmont Lithium

 

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) 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 1980s. 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 for development of an integrated lithium business based on its favorable geology, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

 

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.

 

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

 

The Project’s Core Property Mineral Resource of 16.2Mt @ 1.12% Li2O comprises Indicated Mineral Resources of 8.5Mt @ 1.15% Li2O and Inferred Mineral Resources of 7.7Mt @ 1.09% Li2O. The Central Property Mineral Resource of 2.80Mt @ 1.34% Li2O comprises Indicated Mineral Resources of 1.41Mt @ 1.38% Li2O and 1.39Mt @ 1.29% Li2O.

 

The information contained in this announcement has been prepared in accordance with the requirements of the securities laws in effect in Australia, which differ from the requirements of U.S. securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Australian terms defined in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). However, these terms are not defined in Industry Guide 7 ("SEC Industry Guide 7") under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and are normally not permitted to be used in reports and filings with the U.S. Securities and Exchange Commission (“SEC”). Accordingly, information contained herein that describes Piedmont’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the disclosure in Piedmont’s Form 20-F, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

 

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.

 

The information in this report that relates to Exploration Targets and Mineral Resources is based on, and fairly represents, information compiled or reviewed by Mr. Leon McGarry, a Competent Person who is a Professional Geoscientist (P.Geo.) and registered member of the ‘Association of Professional Geoscientists of Ontario’ (APGO no. 2348), a ‘Recognized Professional Organization’ (RPO). Mr. McGarry is a Senior Resource Geologist and full-time employee at CSA Global Geoscience Canada Ltd. Mr. McGarry has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’. Mr. McGarry consents to the inclusion in this report of the results of the matters based on his information in the form and context in which it appears.

 

Piedmont confirms that: a) it is not aware of any new information or data that materially affects the information included in the original ASX announcements; b) all material assumptions and technical parameters underpinning Mineral Resources, Exploration Targets, Production Targets, and related forecast financial information derived from Production Targets included in the original ASX announcements continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this report have not been materially modified from the original ASX announcements.

 

Appendix 1- Drill Core Assay Data

 

Hole ID

Easting

Northing

Elev.

(m)

Az.

(o)

Dip

(o)

Depth

(m)

 

From

(m)

To

(m)

Intercept

(m)

Li2O

(%)

19-BD-266

474262.1

3915624.4

261.8

298.0

-54.7

239.0

 

53.10

54.40

1.30

1.34

 

 

 

 

 

 

 

and

87.55

93.33

5.78

1.70

 

 

 

 

 

 

 

and

139.56

142.54

2.98

1.36

 

 

 

 

 

 

 

and

156.36

157.72

1.36

1.00

 

 

 

 

 

 

 

and

165.50

171.90

6.40

1.12

 

 

 

 

 

 

 

and

210.37

214.08

3.71

0.99

 

 

 

 

 

 

 

and

220.16

222.10

1.94

0.57

 

 

 

 

 

 

 

and

226.22

230.75

4.53

1.51

19-BD-267

474006.9

3915533.4

259.0

291.0

-47.1

161.0

 

83.09

86.52

3.43

0.92

 

 

 

 

 

 

 

and

96.78

103.43

6.65

0.97

 

 

 

 

 

 

 

including

96.78

99.74

2.96

1.58

 

 

 

 

 

 

 

and

144.58

147.45

2.87

1.29

19-BD-268

474391.4

3915602.4

265.4

301.0

-55.4

170.0

 

77.34

83.00

5.66

0.91

 

 

 

 

 

 

 

and

95.92

106.75

10.83

0.92

 

 

 

 

 

 

 

including

97.92

102.34

4.42

1.30

 

 

 

 

 

 

 

and

139.36

147.00

7.64

0.93

19-BD-269

474029.0

3915515.8

260.6

298.0

-55.3

161.0

 

109.36

113.92

4.56

1.26

 

 

 

 

 

 

 

and

131.00

133.45

2.45

0.82

 

 

 

 

 

 

 

and

137.66

140.81

3.15

1.29

19-BD-270

474369.2

3915568.2

266.0

301.0

-54.6

209.0

 

53.87

61.90

8.03

0.71

 

 

 

 

 

 

 

and

160.20

163.48

3.28

0.56

 

 

 

 

 

 

 

and

195.83

201.47

5.64

0.77

19-BD-271

474249.2

3915583.8

261.9

300.0

-54.2

233.0

 

66.04

69.02

2.98

1.10

 

 

 

 

 

 

 

and

91.86

93.22

1.36

0.74

 

 

 

 

 

 

 

and

106.30

113.05

6.75

1.53

 

 

 

 

 

 

 

and

151.62

154.90

3.28

0.71

 

 

 

 

 

 

 

and

184.24

190.18

5.94

0.82

 

 

 

 

 

 

 

including

184.24

188.03

3.79

0.99

 

 

 

 

 

 

 

and

226.78

229.88

3.10

0.86

19-BD-272

474022.7

3915596.8

259.2

323.0

-49.1

112.0

 

68.68

76.91

8.23

1.33

19-BD-273

474345.5

3915535.3

266.7

297.0

-53.6

245.0

 

161.15

166.60

5.45

1.77

 

 

 

 

 

 

 

and

197.24

199.02

1.78

0.61

 

 

 

 

 

 

 

and

205.72

210.14

4.42

1.37

 

 

 

 

 

 

 

and

239.20

241.47

2.27

0.75

19-BD-274

474027.5

3915560.6

256.2

300.0

-48.0

116.0

 

92.10

101.55

9.45

1.11

 

 

 

 

 

 

 

and

104.02

105.54

1.52

0.72

19-BD-275

473677.1

3916768.5

258.7

312.0

-49.3

159.0

 

34.50

42.10

7.60

0.64

 

 

 

 

 

 

 

and

67.84

68.95

1.11

0.69

 

 

 

 

 

 

 

and

138.28

140.37

2.09

0.91

19-BD-276

474079.4

3915615.2

252.4

298.0

-63.6

155.0

 

42.61

45.35

2.74

0.60

 

 

 

 

 

 

 

and

98.23

110.11

11.88

1.12

 

 

 

 

 

 

 

and

122.10

125.00

2.90

1.00

 

 

 

 

 

 

 

and

143.16

144.07

0.91

2.06

19-BD-277

474192.7

3915436.7

267.9

298.0

-55.4

197.0

 

95.80

98.50

2.70

1.13

 

 

 

 

 

 

 

and

146.37

148.42

2.05

1.04

 

 

 

 

 

 

 

and

163.60

167.64

4.04

0.91

 

 

 

 

 

 

 

and

169.88

173.18

3.30

1.04

19-BD-278

473794.2

3916700.5

258.0

309.0

-59.6

160.5

 

57.85

61.25

3.4

0.47

 

 

 

 

 

 

 

 

113.03

122.38

9.35

1.11

 

 

 

 

 

 

 

including

120.38

122.38

2.00

2.02

19-BD-279

474101.2

3915737.5

263.0

298.0

-44.4

173.0

 

53.22

56.06

2.84

1.06

 

 

 

 

 

 

 

and

59.80

62.32

2.52

1.08

 

 

 

 

 

 

 

and

118.35

120.55

2.20

1.14

 

 

 

 

 

 

 

and

131.20

135.97

4.77

0.72

 

 

 

 

 

 

 

and

151.08

154.57

3.39

1.16

 

 

 

 

 

 

 

and

160.65

167.00

6.35

1.35

19-BD-280

474417.6

3915632.6

265.3

291.0

-59.8

167.0

 

82.09

93.31

11.22

1.04

 

 

 

 

 

 

 

including

87.69

92.30

4.61

1.53

19-BD-281

473764.1

3916783.6

253.8

305.0

-55.2

114.0

 

55.88

63.14

7.26

0.95

 

 

 

 

 

 

 

including

56.96

59.96

3.00

1.39

 

 

 

 

 

 

 

and

97.12

99.02

1.90

1.13

19-BD-282

474461.1

3915787.4

263.5

298.0

-59.5

121.0

 

30.87

35.52

4.65

1.51

 

 

 

 

 

 

 

and

46.90

48.74

1.84

1.03

 

 

 

 

 

 

 

and

49.40

51.03

1.66

0.69

19-BD-283

473830.2

3916775.3

256.7

288.0

-55.3

177.0

 

21.42

23.15

1.73

0.87

 

 

 

 

 

 

 

and

31.45

37.15

5.68

0.82

 

 

 

 

 

 

 

and

76.48

81.00

4.52

0.86

 

 

 

 

 

 

 

and

108.86

112.63

3.77

1.01

 

 

 

 

 

 

 

and

114.4

116.14

1.74

0.98

 

 

 

 

 

 

 

and

157.16

167.37

10.21

1.06

19-BD-284

474387.6

3915870.4

261.9

301.0

-54.9

211.0

 

45.65

54.8

8.15

1.36

 

 

 

 

 

 

 

and

76.26

79.08

2.82

0.65

 

 

 

 

 

 

 

and

147.45

150.62

3.17

1.38

 

 

 

 

 

 

 

and

172

179.77

7.77

1.25

19-BD-285

474137.8

3915687.5

257.4

305

-54.7

167.0

 

51.15

53.15

2

0.64

 

 

 

 

 

 

 

and

101.05

110.6

9.55

1.1

 

 

 

 

 

 

 

and

116.36

121.07

4.71

0.52

 

 

 

 

 

 

 

and

135.52

139.46

3.94

1.61

19-BD-286

473816.6

3916828.6

250.7

313

-55.7

191.0

 

44.3

47.16

2.86

1.52

 

 

 

 

 

 

 

and

85.1

88.61

3.51

0.95

 

 

 

 

 

 

 

and

113.51

116

2.49

1.32

 

 

 

 

 

 

 

and

121.09

126.11

5.02

1.2

 

 

 

 

 

 

 

and

141.45

143.58

2.13

1.59

19-BD-287

474030.6

3915689.8

252.2

295

-54.8

152.0

 

28.65

37.3

8.65

1.34

 

 

 

 

 

 

 

and

123.06

124.54

1.48

1.1

19-BD-288

473274.4

3915807.9

258.8

302

-55.6

190.5

 

93.2

100.5

7.3

0.97

19-BD-289

473697.5

3916692.3

260.4

312

-52.6

196.0

 

56.49

58.46

1.97

0.72

 

 

 

 

 

 

 

and

91.62

98.3

6.68

1.24

 

 

 

 

 

 

 

and

120.18

121.32

1.14

1.74

 

 

 

 

 

 

 

and

171.26

178.02

6.76

0.68

19-BD-290

474141.8

3915501.0

263.7

298

-55.4

221.0

 

68.96

70.51

1.55

1.33

 

 

 

 

 

 

 

and

74

77.47

3.47

1.11

 

 

 

 

 

 

 

and

85.46

87.6

2.14

1.30

 

 

 

 

 

 

 

and

159.02

163.12

4.1

0.56

 

 

 

 

 

 

 

and

200.01

202.9

2.77

0.60

 

 

 

 

 

 

 

and

210.15

211.9

1.75

1.46

19-BD-291

473213.1

3915765.9

266.0

299

-55.7

154.5

 

no significant intercepts

19-BD-292

474116.0

3915466.2

265.6

302

-53.6

190

 

61.77

66.84

5.07

1.07

 

 

 

 

 

 

 

and

87.93

89.64

1.71

1.96

19-BD-293

473795.4

3916753.7

253.5

309

-54.9

190.0

 

70.64

75.9

5.26

1.28

 

 

 

 

 

 

 

and

103.17

105.82

2.65

1.44

 

 

 

 

 

 

 

and

123.27

124.76

1.49

1.44

 

 

 

 

 

 

 

and

140.23

146.32

6.09

0.92

 

 

 

 

 

 

 

and

153.3

161.8

8.5

1.14

 

 

 

 

 

 

 

Including

156.3

160.8

4.5

1.58

 

 

 

 

 

 

 

and

182.36

183.68

1.32

1.0

19-BD-294

473150.1

3915804.7

262.5

301

-46.1

152.0

 

86.56

89.26

2.7

1.1

 

 

 

 

 

 

 

and

109.49

112.3

2.81

0.84

19-BD-295

473231.6

3915887.1

262.9

297

-54.2

161.0

 

64.03

70.65

6.62

1.44

 

 

 

 

 

 

 

and

75.14

92.1

16.96

1.60

 

 

 

 

 

 

 

including

75.14

79.3

4.16

2.06

 

 

 

 

 

 

 

and

123.9

125.26

1.36

0.87

19-BD-296

473717.2

3916645.8

262.7

311

-55.3

236.0

 

68.85

71.85

3.00

1.01

 

 

 

 

 

 

 

and

91.89

95.37

3.48

0.61

 

 

 

 

 

 

 

and

131.72

136

4.28

1.05

 

 

 

 

 

 

 

and

141.92

145.81

3.89

1.19

 

 

 

 

 

 

 

and

149.89

151.15

1.26

0.77

 

 

 

 

 

 

 

and

171.41

173.48

2.07

1.43

 

 

 

 

 

 

 

and

198.03

205.48

7.45

1.05

 

 

 

 

 

 

 

including

199.03

201.3

2.27

1.62

 

 

 

 

 

 

 

and

211.16

213.14

1.98

2.23

 

 

 

 

 

 

 

and

215.68

221.48

5.80

1.52

 

 

 

 

 

 

 

and

223.28

227.58

4.30

0.76

19-BD-297

474067.9

3915407.8

254.8

299

-54.0

215.0

 

49.38

51.58

2.20

0.77

 

 

 

 

 

 

 

and

66.84

70.32

3.48

1.08

 

 

 

 

 

 

 

and

169.8

173.32

3.52

0.86

 

 

 

 

 

 

 

and

193

200.72

7.72

0.67

 

 

 

 

 

 

 

and

204.38

206.7

2.32

1.29

19-BD-298

473181.1

3915896.4

260.3

304

-61.1

80.0

 

27.4

42.32

14.92

1.76

 

 

 

 

 

 

 

including

27.4

36.4

9.0

2.07

 

 

 

 

 

 

 

and

52

56.3

4.30

0.95

 

 

 

 

 

 

 

and

63.14

65.53

2.39

0.80

19-BD-299

473461.5

3915747.7

261.0

293

-46.5

134.0

 

57.61

59.04

1.43

1.47

 

 

 

 

 

 

 

and

61.84

70.19

8.35

1.76

 

 

 

 

 

 

 

and

73.3

74.59

1.29

1.69

 

 

 

 

 

 

 

and

89.14

94.15

5.01

1.35

 

 

 

 

 

 

 

and

99.48

115

15.52

0.78

 

 

 

 

 

 

 

including

107.5

110.7

3.2

1.65

19-BD-300

474190.6

3915212.5

269.4

297

-53.9

206.0

 

17.18

25.42

8.24

0.68

 

 

 

 

 

 

 

and

104.35

106.5

2.15

0.70

19-BD-301

473644.4

3916625.8

264.0

300

-55.8

225.0

 

83.72

89.55

5.83

0.82

 

 

 

 

 

 

 

including

83.72

85.77

2.05

1.64

 

 

 

 

 

 

 

and

94.82

96.78

1.96

1.89

 

 

 

 

 

 

 

and

162.87

167.72

4.85

1.23

 

 

 

 

 

 

 

and

182.96

185.58

2.62

1.03

 

 

 

 

 

 

 

and

213.14

218.5

5.36

0.66

19-BD-302

472409.6

3915712.4

260.1

301

-48.6

146.0

 

47.15

48.86

1.71

0.74

 

 

 

 

 

 

 

and

117.09

130.69

13.6

0.77

 

 

 

 

 

 

 

including

119.09

124.09

5.00

1.40

19-BD-303

473890.2

3916522.7

254.1

327

-50.2

154.0

 

119.37

124.80

5.51

1.81

 

 

 

 

 

 

 

including

119.37

120.84

1.47

3.23

 

 

 

 

 

 

 

and

129.7

130.75

1.05

0.97

19-BD-304

473963.2

3916830.7

249.9

307

-60.1

149.0

 

2.00

5.00

3

1.22

 

 

 

 

 

 

 

and

9.58

11.54

1.96

0.70

 

 

 

 

 

 

 

and

19.37

21.36

1.99

0.95

 

 

 

 

 

 

 

and

29.76

31.02

1.26

0.82

 

 

 

 

 

 

 

and

110.47

112.18

1.71

2.26

 

 

 

 

 

 

 

and

113.5

118.26

7.79

0.92

 

 

 

 

 

 

 

and

120.62

122.75

2.38

1.05

19-BD-305

473689.3

3916787.9

257.0

311

-50.7

155.0

 

125.82

129.30

3.48

0.95

 

 

 

 

 

 

 

and

131.93

137.74

5.81

1.31

 

 

 

 

 

 

 

including

133.85

137.74

3.89

1.68

 

 

 

 

 

 

 

and

141.34

149.31

7.97

1.04

 

 

 

 

 

 

 

including

141.34

145.05

3.71

1.40

19-BD-306

473969.0

3916973.6

258.8

308

-55.8

134.0

 

22.22

25.33

3.11

1.11

 

 

 

 

 

 

 

and

34.34

38.13

3.79

0.60

 

 

 

 

 

 

 

and

59.26

61.7

2.44

1.51

 

 

 

 

 

 

 

and

63.8

66.55

2.75

0.83

 

Please follow the link to view entire news release:

https://www.asx.com.au/asxpdf/20190529/pdf/445fpkqd8zn6ky.pdf

 

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