THE DRILL SERGEANT: Piedmont Lithium (ASX: PLL) released a major update to the Mineral Resource estimate for the company’s wholly-owned Piedmont lithium project located within the Carolina Tin-Spodumene Belt (TSB) in North Carolina, USA.
Piedmont Lithium has increased the Mineral Resource for the Core property to 25.1 million tonnes at 1.09 per cent lithium oxide (Li2O), bringing the project’s total Mineral Resources to 27.9 million tonnes at 1.11 per cent Li2O, containing 309,000 tonnes of lithium oxide or 764,000 tonnes of lithium carbonate equivalent (LCE) the benchmark used in the lithium industry.
The company highlighted that 74 per cent of the Core Mineral Resource sits within 100 metres of surface and 97 per cent is within 150m of surface.
Approximately 50 per cent (12.5 million tonnes) of the Mineral Resource is classified in the Indicated Resource category.
All Mineral Resource tonnes at both the Core and Central properties are attributable to spodumene mineralisation.
Piedmont says it expects to complete a pre-feasibility level metallurgical testwork program followed by a Scoping Study update in July.
“We are very pleased with the resource update at our Core property, bringing our total project-wide resources to 27.9 million tonnes at 1.11 per cent lithium oxide,” Piedmont Lithium president and chief executive officer Keith D. Phillips said in the company’s announcement to the Australian Securities Exchange.
“As we expand our land holdings and drill out other highly prospective targets, we are optimistic that we will ultimately identify North America’s largest spodumene ore body.
“This scale, combined with high grade, strong mineralogy and metallurgy, and our superior location in North Carolina, all support the unique strategic nature of the Piedmont lithium project.”