NEW YORK, May 16, 2018 /PRNewswire/ --
- Piedmont has received assay
results from a further 41 holes with 40 of 41 holes showing high
grade mineralisation including:
-
- 28.5m of
cumulative thickness of mineralization (non-continuous) across 7
pegmatites which includes high grade intercepts of 6.2m @ 1.21%
Li2O and 1.4m @ 1.50 Li2O in Hole
18-BD-166
- 19.1m of
cumulative thickness of mineralization (non-continuous) across 2
dikes which includes high grade intercepts of 8.3m @ 1.66%
Li2O and 10.9m @ 1.05% Li2O in Hole
18-BD-174
- 20.9m of
cumulative thickness of mineralization (non-continuous) across 3
pegmatites which includes high grade intercepts of 4.6m @ 1.44%
Li2O and 3.0m @ 1.35 Li2O in Hole
18-BD-176
- 18.4m of
cumulative thickness of mineralization (non-continuous) across 7
pegmatites which includes high grade intercepts of 7.7m @ 1.23%
Li2O and 1.7m @ 1.52 Li2O in Hole
18-BD-177
- 24.0m of
cumulative thickness of mineralization (non-continuous) across 6
pegmatites which includes high grade intercepts of 11.7m @ 1.23%
Li2O and 2.6m @ 1.45 Li2O in Hole
18-BD-180
- 21.3m of
cumulative thickness of mineralization (non-continuous) across 3
pegmatites which includes high grade intercepts of 8.9m @ 1.36%
Li2O and 6.2m @ 1.34 Li2O in Hole
18-BD-194
- 17.7m of
cumulative thickness of mineralization (non-continuous) across 4
pegmatites which includes high grade intercepts of
3.3m @ 2.38%
Li2O and 9.4m @ 1.65 Li2O in Hole
18-BD-204
- 21.8m of
cumulative thickness of mineralization (non-continuous) across 5
pegmatites which includes high grade intercepts of 8.0m @ 1.62%
Li2O and 2.6m @ 1.88% Li2O in Hole
18-BD-208
- Infill drilling has been completed and the Company is now
finishing wide spaced exploration holes on the core
property
- Exploration drilling on the recently-announced Sunnyside property will commence in
June
- Maiden resource continues to remain on-track for delivery by
end of 2nd Quarter 2018
Piedmont Lithium Limited ("Piedmont" or "Company") (ASX:PLL; NASDAQ:
PLLL) is pleased to advise that the Company has received
assay results from a further 41 holes from the current drilling
campaign on its properties in the Carolina Tin-Spodumene Belt
("TSB") in North Carolina,
United States. The Company remains
on schedule to release a maiden Mineral Resource estimate in
accordance with the JORC Code by the end of the 2nd
Quarter 2018.
The results build upon the previous drilling completed on the
property and continue to show similar high-grade mineralisation and
pegmatite intercepts. For the Phase 3 program, the Company has
completed 117 holes totalling 20,279 meters. Due to
operational efficiencies of the Piedmont field crew and the drilling
contractor, the original Phase 3 program was completed under
budget, thus allowing for additional drill meters at the Piedmont
Project as well as initial drilling at the regional targets,
Sunnyside and the Central
Properties. The table below shows an updated Plan for Phase 3
drilling.
Property
|
Infill
Completed
|
Exploration
Completed
|
Total Completed
|
Planned
|
Total
|
Core
|
15,717
|
4,562
|
20,279
|
1,400
|
21,679
|
Sunnyside
|
-
|
-
|
-
|
900
|
900
|
Central
|
-
|
-
|
-
|
600
|
600
|
Total
|
15,717
|
4,562
|
20,279
|
2,900
|
23,179
|
Infill drilling at the Core property is completed and
exploratory drilling will be completed in the coming weeks. The
maiden Mineral Resource estimate continues to remain on-track for
delivery by end of 2nd Quarter 2018.
A drill rig will be mobilized to the Sunnyside property within the next few weeks
as soon as the North Carolina State Sedimentation and Erosion
permit is issued. The initial Sunnyside drilling is expected to consist of 4
to 6 holes totalling 600 to 900 meters.
Keith D. Phillips, President and
Chief Executive Officer, said, "Phase 3 drilling has been very
successful. Strong results have been generated and the team
has accomplished the project on-time and under-budget. We are
on track to have a maiden Mineral Resource estimate in June and a
Scoping Study shortly thereafter."
Piedmont Lithium Project Cross
Section
The seven exploratory holes tested three areas. The first was an
area in the north western portion of the property defined by holes
18-BD-191, 197, 201, and 208. This area consisted of subcrop
and boulder trains that had not been previously drill tested.
All four holes returned multiple mineralized pegmatites. A
few of the significant intercepts are in18-BD-208 where
8.0m @ 1.62% Li2O
was reported and in 18-BD-197 where 3.0m @ 1.34% Li2O and 5.5m @ 1.38% Li2O was
reported.
In the second area, located in the north central portion of the
property, holes 18-BD-199 and 206 tested outcrop and boulders not
previously drill tested. Both holes returned multiple zone of
mineralized pegmatite (results in Appendix 1). The third area
was a follow up to the historic hole 10-BD-14 in which 18-BD-207
was collared approximately 40 meters to the southwest.
18-BD-207 intercepted 6 mineralized pegmatites with high grade
intercepts of 3.8m @ 1.20%
Li2O and 2.1m @ 1.99%
Li2O.
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