Piedmont Lithium Completes Phase 2 Drilling Program And Announces Further High-Grade Assay Results

NEW YORK, Nov. 1, 2017 /PRNewswire/ --

  • Assay results from a further 25 holes of the Phase 2 drill program have been received and continue to confirm high grade lithium mineralization along the 4 kilometers of strike within the property including:
    • 25.22m of cumulative thickness of mineralization across 6 pegmatites which includes high grade intercepts of 5.40m @ 1.46% Li2O, 2.65m @ 1.24% Li2O and 2.00m @ 1.43% Li2O in Hole 17-BD-73
    • 21.92m of cumulative thickness of mineralization across 5 pegmatites which includes high grade intercepts of 8.86m @ 1.72% Li2O, and 8.04m @ 1.02% Li2O in Hole 17-BD-80
    • 18.66m of cumulative thickness of mineralization across 6 pegmatites which includes high grade intercepts of 6.27m @ 1.39% Li2O, 4.21m @ 1.83% Li2O, 2.26m @1.52% Li2O and 1.68m @ 1.83% Li2O in Hole 17-BD-64
    • 18.64m of cumulative thickness of mineralization across 6 pegmatites which includes high grade intercepts of 6.66m @ 1.59% Li2O and 2.68m @ 1.58% Li2O in Hole 17-BD-75
    • 14.08m of cumulative thickness of mineralization across 5 pegmatites which includes a high grade intercepts of 5.03m @ 1.98% Li2O and 2.04m @ 1.52% Li2O n Hole 17-BD-70
    • 12.97m of cumulative thickness of mineralization across 2 pegmatites which includes a high grade intercept of 10.36m @ 1.53% Li2O in Hole 17-BD-72
  • Piedmont has now completed the 93-hole Phase 2 diamond drilling program, which totaled 12,262 meters
  • The Company anticipates receiving assay results for the remaining 42 holes of the extended Phase 2 program over the coming weeks

Piedmont Lithium Limited (ASX: PLL, OTC – Nasdaq International: PLLLY) ("Piedmont" or "Company") is pleased to report further high grade mineralisation from the 93-hole Phase 2 drilling campaign on the Piedmont Lithium Project ("Project") located within the world-class Carolina Tin-Spodumene Belt ("TSB").  The Phase 2 program totalled 12,262 meters of diamond core drilling.

Keith D. Phillips, President and Chief Executive Officer, said, "These additional Phase 2 results continue to showcase the high-grade mineralization throughout our growing land package. We are increasingly confident in our ability to define a large lithium deposit in this historic belt, and we look forward to releasing the remaining results of our Phase 2 drilling campaign over the coming weeks."

For further information, contact:

Keith D. Phillips

Anastasios (Taso) Arima

President & CEO

Executive Director

T: +1 973 809 0505      

T: +1 347 899 1522

E: keith@piedmontlithium.com

E: taso@piedmontlithium.com

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.

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SOURCE Piedmont Lithium Limited