Piedmont Increases Mineral Resources With Completion of Phase 5 Infill Drilling
October 21 2021 - 7:00AM
Business Wire
Inaugural Mineral Resources reported under
new U.S. S-K 1300 Standards
- Carolina Lithium Project total Mineral Resources increase to
44.2 Mt @ 1.08% Li2O
- Indicated Mineral Resources increased 101% to 28.2 Mt @
1.11% Li2O for the Project
- DFS completion for the integrated 30,000 t/y LiOH Carolina
Lithium Project expected within Q4 2021
Piedmont Lithium Inc. (Nasdaq: PLL) (“Piedmont” or “Company”) is
pleased to announce an updated global Mineral Resource estimate
(“MRE”) (Table 1 attached) for the Company’s flagship Carolina
Lithium Project in North Carolina, USA. The MRE includes updates
for lithium and industrial mineral products. The total MRE for the
project is 44.2 Mt @ 1.08% Li2O, with 64% of the total MRE
classified in the Indicated category. The Mineral Resource estimate
reported in accordance with the U.S. Securities and Exchange
Commission S-K 1300 standards and the Australasian JORC Code (2012
Edition).
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Piedmont Increases Mineral Resources With
Completion of Phase 5 Infill Drilling (Photo: Business Wire)
Keith D. Phillips, President and Chief Executive Officer,
commented: “We are very pleased to have concluded our Phase 5 drill
campaign and to further expand our world-class resource base.
Carolina Lithium has one of the largest spodumene resources in
North America, and the only one located in the United States. The
increase in ‘Indicated’ resources of over 100% relative to
resources previously reported under Australian standards, will
underpin the definitive feasibility study for Carolina Lithium that
we plan to publish later in 2021. The DFS will be another important
step along the path to building America’s leading lithium business
to support and enable the rapidly-growing electric vehicle supply
chain in the United States.”
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version on businesswire.com: https://www.businesswire.com/news/home/20211021005185/en/
Keith Phillips President & CEO T: +1 973 809 0505 E:
kphillips@piedmontlithium.com
Brian Risinger VP - Investor Relations and Corporate
Communications T: +1 704 910 9688 E:
brisinger@piedmontlithium.com
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