Piedmont Lithium Limited: Significant Increase in By-Product Mineral Resources
(firmenpresse) -
Piedmont Lithium Limited (Piedmont or Company) is pleased to announce updated Mineral Resource estimates for mineral by-products quartz, feldspar and mica from spodumene bearing pegmatites on the Companys wholly-owned Core property located within the world-class Carolina Tin-Spodumene Belt (TSB) in North Carolina, USA (refer Table 1). This is an update to the initial by-product Mineral Resource estimate reported in September 2018.
By-Product Mineral Resource estimates were based on normative mineralogy compositions from 326 drill holes previously analyzed for lithium. The resource details for quartz, feldspar and mica are shown in Table 1. The Mineral Resource estimates have been prepared by independent consultants, CSA Global Pty Ltd (CSA Global) and are reported in accordance with the JORC Code (2012 Edition).
Table 1: Mineral Resource Estimates for By-Products -
Piedmont Lithium
Project
CategorTonnes Quartz Feldspar Mica
y (Mt)
Grade Tonnes Grade Tonnes Grade Tonnes
(%) (Mt) (%) (Mt) (%) (Mt)
Indicat12.5 30.0 3.75 44.4 5.55 4.5 0.56
ed
Inferre12.6 28.7 3.61 44.4 5.58 4.4 0.56
d
Total 25.1 29.3 7.36 44.4 11.13 4.5 1.12
In June 2019, the Company reported an updated lithium Mineral Resource for the Core property of 25.1 million tonnes (Mt) at a grade of (at) 1.09% Li2O. The by-products and lithium Mineral Resource estimates utilize the same geologic model. Piedmont is now updating the Projects Scoping Study which will include the updated by-product resources and the June 2019 lithium resource.
Keith D. Phillips, President and Chief Executive Officer, commented: The historic lithium mines in the Carolina Tin-Spodumene Belt generated a material portion of their economics from the sale of by-product minerals quartz, feldspar and mica to the large, local southeastern US industrial markets. These markets have continued to grow, and are currently served in part by high-cost imported material. We expect by-products to represent a significant - and unique - opportunity for Piedmont, and I would note that in our Scoping Study dated September 12, 2018 the by-product credits effectively reduced our cash production costs of lithium hydroxide by more than US$750/t, and we expect a similar impact in our study update due next week.
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
Please follow the link to view entire original news in English language:
https://www.asx.com.au/asxpdf/20190801/pdf/4473vblh92dfz7.pdf
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 worlds 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 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.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources
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 Piedmonts 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 Piedmonts Form 20-F, a copy of which may be obtained from Piedmont or from the EDGAR system on the SECs 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 holder of stock options in, and is a key consultant of, 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 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 mineralisation 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.
Please follow the link to view entire original news in English language:
https://www.asx.com.au/asxpdf/20190801/pdf/4473vblh92dfz7.pdf
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Datum: 01.08.2019 - 18:06 Uhr
Sprache: Deutsch
News-ID 596749
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