Piedmont Continues to Define High Grade Lithium Mineralisation in North Carolina
(firmenpresse) - Piedmont Continues to Define High Grade Lithium Mineralisation in North Carolina
- 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 (at) 1.39% Li2O and 3.0m (at) 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 (at) 1.10% Li2O and 5.9m (at) 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(at) 1.32% Li2O and 4.0m (at) 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 (at) 1.79% Li2O and 3.0m (at) 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 (at) 1.50% Li2O and 3.1m (at) 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 (at) 1.45% Li2O and 4.5m (at) 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
Piedmont Lithium Limited (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.
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Piedmont Lithium Project Drill Location Map and Long Section
For further information, contact:
Keith D. Phillips
President & CEO
T: +1 973 809 0505
E: kphillips(at)piedmontlithium.com
Anastasios (Taso) Arima
Executive Director
T: +1 347 899 1522
E: tarima(at)piedmontlithium.com
Phase 2 Results and Discussion
The release of the final 17 holes of the Phase 2 campaign which were completed last year continue to show similar high-grade intercepts, as was expected by the Companys geologists and consultants. These results continue to define mineralization along the four kilometers of strike length within the property, where over 30 spodumene pegmatites have been identified.
The current Phase 3 drilling campaign is focused on infill drilling along the trends defined by the Phase 2 program. These 21 holes (holes 123 to 143) are part of the initial infill drilling required for the compilation of the maiden JORC code compliant resource estimate. These results are consistent with Phase 2 results and are currently being added to the geological model.
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Piedmont Lithium Project Cross Section
Approximately 13,000m of the 20,000m Phase 3 drilling program will be focused on infill drilling whereas the remaining meterage will test high priority exploration targets on the property, test the along strike and down dip extensions within the current drilling area, and test the potential of the newly acquired properties. The Company is highly encouraged by initial surface mapping and rock chip sampling within these properties and is looking forward to drill testing the targets defined.
The results from last years and the current drilling campaign continue to give the Company confidence in being able to define a shallow, surface mineable resource which is strategically located within the historical lithium mining and processing region of the USA. The Company is confident in the ability to release its maiden Mineral Resource estimate in accordance with JORC by the end of the 2nd Quarter 2018 and follow with an integrated Scoping Study in the 3rd Quarter 2018.
About Piedmont Lithium
Piedmont Lithium Limited (ASX: PLL; OTC-Nasdaq Intl: PLLLY) 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 worlds 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 and 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.
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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 1,199 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 Piedmonts 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.
To view entire news in English language, including drill results and JORC-Code, please follow the link:
https://www.asx.com.au/asxpdf/20180315/pdf/43sg8877ggpgjb.pdf
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Datum: 15.03.2018 - 11:24 Uhr
Sprache: Deutsch
News-ID 573363
Anzahl Zeichen: 9533
contact information:
Town:
Wien
Kategorie:
Business News
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