By-Product Mineral Resource Estimates

  • By-Product Mineral Resource estimates completed for quartz, feldspar and mica
  • By-Product Mineral Resources are wholly-contained within existing Mineral Resource model
  • Previously announced metallurgical testwork demonstrates commercial value of by-products
  • Scoping Study update to include by-products due within Q3 2018 

NEW YORK, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce Mineral Resource estimates for by-product quartz, feldspar and mica mineral products from the spodumene bearing pegmatite on its Core Property.  These Mineral Resource estimates are based on the same geologic model that resulted in a maiden Mineral Resource estimate for lithium of 16.2 Mt @ 1.12% Li2O which was previously announced on June 14, 2018.

By-Product Mineral Resource estimates were based on normative mineralogy compositions for 2,289 samples in 231 drill holes previously analysed for lithium. The results 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
Category Tonnes
(Mt)
Quartz Feldspar Mica
Grade
(%)
Tonnes
(Mt)
Grade
(%)
Tonnes
(Mt)
Grade
(%)
Tonnes
(Mt)
Indicated 8.50 30.3 2.57 43.5 3.69 4.4 0.38
Inferred 7.69 30.0 2.31 44.4 3.41 4.5 0.34
Total 16.19 30.1 4.88 43.9 7.11 4.5 0.72

The industrial minerals represented by Piedmont’s by-product Mineral Resource Estimates are fundamental inputs for regional industries that Piedmont can economically service given its location in the heart of the Mid-Atlantic industrial corridor.  Piedmont is now updating the Scoping Study released on July 18, 2018 to reflect the production of by-product quartz, feldspar and mica, and expects to release this update within the coming days.

Keith D. Phillips, President and Chief Executive Officer, said, “Having confirmed a flow sheet to recover by-product quartz, feldspar and mica, we have now demonstrated a large-scale resource for each. We look forward to releasing an amended Scoping Study in the next several weeks and expect the update to further highlight the important advantages of our unique location.”

Click here to view the ASX announcement.

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

About Piedmont Lithium

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLLL) 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 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.

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.

Competent Persons Statement

The information in this report that relates to By-Product 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.

The information in this announcement that relates to By-Product Metallurgical Testwork Results is extracted from the Company’s ASX announcement dated September 4, 2018 which is available to view on the Company’s website at www.piedmontlithium.com. The information in the original ASX announcement that related to By-Product Metallurgical Testwork Results was based on, and fairly represents, information compiled or reviewed by Dr. Hamid Akbari, a Competent Person who is a Registered Member of the ‘Society for Mining, Metallurgy and Exploration’, a ‘Recognized Professional Organization’ (RPO). Dr. Akbari is a consultant to the Company. Dr. Akbari 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’.

The information in this announcement that relates to Lithium Mineral Resources is extracted from the Company’s ASX announcement dated June 14, 2018 which is available to view on the Company’s website at www.piedmontlithium.com. The information in the original ASX announcement that related to Lithium Mineral Resources was based on, and fairly represents, information compiled 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’. 

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.

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

The information contained herein has been prepared in accordance with the requirements of the securities laws in effect in Australia, which differ from the requirements of United States securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Australian mining 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/.

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Source: Piedmont Lithium Limited