THE DRILL SERGEANT: Piedmont Lithium (ASX: PLL) announced Phase 4 drill results for the company’s Piedmont lithium project located within the Carolina Tin-Spodumene Belt (TSB) in North Carolina, USA.
Piedmont Lithium completed 41 drill holes at the project’s Core property, encountering mineralisation in 40.
The company said the Phase 4 drilling had continued to expand the extent and continuity of the pegmatite system on Core, providing confidence of a substantial Mineral Resource estimate update in June.
The company explained the primary objective for the Phase 4 drilling program on Core is to increase the size of the current Core Mineral Resource estimate of 16.2 million tonnes at 1.12 per cent lithium oxide (Li2O) and extend the overall projected life-of-mine.
“We are very pleased with these interim results from Phase 4 drilling, which continue to highlight high-grade mineralisation near surface,” Piedmont Lithium president and chief executive officer Keith D. Phillips said I the company’s announcement to the Australian Securities Exchange.
“The shallow nature of the ore body, combined with pure spodumene mineralogy, local by-product markets and exceptional infrastructure, are important factors which should position the Piedmont lithium project in the first quartile of the cost curve.
“We look forward to reporting a significant increase to our property-wide resource in June, and to reflecting that enlarged resource in an updated scoping study in July.”