Phase 3 Drilling Completed With Further High Grade Mineralisation Identified

NEW YORK, June 6, 2018 /PRNewswire/ --

  • Piedmont has completed its Phase 3 drill program on the Core property and has received assay results from an additional 26 holes, with high grade mineralisation in all holes including:
    • 23.3m of cumulative thickness of mineralization (non-continuous) across 5 pegmatites which includes high grade intercepts of 5.2m @ 1.30% Li2O, 7.5m @ 1.37% Li2O and 5.2m @ 1.58% Li2O in Hole 18-BD-189
    • 28.5m of cumulative thickness of mineralization (non-continuous) across 4 pegmatites which includes high grade intercepts of 8.4m @ 1.47% Li2O, 5.2m @ 1.53 Li2O and 11.4m @ 1.00% Li2O in Hole 18-BD-220
    • 20.4m @ 1.61% Li2O of continuous mineralization across 1 pegmatite, including a high-grade zone of 11.0m @ 2.04% Li2O in Hole 18-BD-228
  • Maiden Mineral Resource estimate for the Core property to be announced in the coming weeks
  • Hole 18-BD-228 is the thickest single pegmatite to date on the property with over 20 meters of continuous high-grade mineralization (20.4m @ 1.61% Li2O)
  • Exploration drilling on the recently-announced Sunnyside property has commenced and results are expected to be made available in the coming weeks

Piedmont Lithium Limited ("Piedmont" or "Company") (ASX: PLL; NASDAQ: PLLL) is pleased to advise that the Company has completed its Phase 3 Drilling Program and has received assay results from another 26 holes from its Core property in the Carolina Tin-Spodumene Belt ("TSB") in North Carolina, United States. The Company intends to release a maiden Mineral Resource estimate on the Core property in accordance with the JORC Code in the coming weeks.

For the Phase 3 program, the Company has completed 124 holes totalling 21,360 meters on its core property. Fifteen remaining holes from the Phase 3 campaign have assays pending.

Operational efficiencies during the Phase 3 drilling budget allowed the Company to exceed the planned meterage of 20,000 meters by 1,360 meters and will allow for initial drilling on the Sunnyside and Central properties (see Table below).  The necessary state permits have been received and drilling is underway at the Sunnyside Property with one hole completed.  Results of drilling in these exploratory areas will be released in the coming weeks.

Keith D. Phillips, President and Chief Executive Officer, said, "Drilling on the core property is now complete and we look forward to issuing our maiden Mineral Resource estimate in the near future, accompanied by a revised exploration target.  Additionally, we are excited about the exploration drilling that has commenced at Sunnyside and hopeful that we will identify significant resource upside on that property."

Property

Infill Drilling

Completed

Exploration Drilling
Completed

Drilling

Planned

Total

Drilling

Core

15,869

5,491

-

21,360

Sunnyside

-

167

733

900

Central

-

-

600

600

Total

15,869

5,658

1,333

22,860

 

Piedmont Lithium Project Drill Location Figure Map

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: kphillips@piedmontlithium.com

E: tarima@piedmontlithium.com 

 

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SOURCE Piedmont Lithium Limited