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Piedmont Lithium: Further High Grade Lithium Mineralisation Identified During Resource Drilling in North Carolina

ID: 1536092
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(businesspress24) - Piedmont Lithium: Further High Grade Lithium Mineralisation Identified During Resource Drilling in North Carolina

- 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 (at) 1.21% Li2O and 1.4m (at) 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 (at) 1.66% Li2O and 10.9m (at) 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 (at) 1.44% Li2O and 3.0m (at) 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 (at) 1.23% Li2O and 1.7m (at) 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 (at) 1.23% Li2O and 2.6m (at) 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 (at) 1.36% Li2O and 6.2m (at) 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 (at) 2.38% Li2O and 9.4m (at) 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 (at) 1.62% Li2O and 2.6m (at) 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) 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 ExploratioTotal Planned Total
Completedn Completed
Completed

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.
http://www.irw-press.at/prcom/images/messages/2018/43409/180517 - Drilling Update_FINALPRcom.001.jpeg

Piedmont Lithium Project Drill Location Figure Map

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(at)piedmontlithium.com -E: tarima(at)piedmontlithium.com

Phase 2 Results and Discussion

The Phase 3 drilling campaign consists of infill drilling along the trends defined by the Phase 2 program and exploratory drilling of targets with little or no drilling. Of the 41 holes in this release (holes 155, 166 -208 except 187, 189 and 190), seven are classified as exploratory, whereas the other 34 holes are part of the infill drilling required for the compilation of the maiden Mineral Resource estimate. The majority of the infill drilling was completed along the western portion of the property, the long section below illustrates the continuity of mineralization along the 1,400 meter trend. Assay results (Appendix 1) are consistent with Phase 2 results and are currently being added to the geological model.

Infill drilling along the eastern portion of the property has confirmed multiple mineralized pegmatite dikes as shown in cross section below for holes 18-BD-172, 176, and 182.
http://www.irw-press.at/prcom/images/messages/2018/43409/180517 - Drilling Update_FINALPRcom.002.jpeg

Piedmont Lithium Project Long Section
http://www.irw-press.at/prcom/images/messages/2018/43409/180517 - Drilling Update_FINALPRcom.003.jpeg

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 (at) 1.62% Li2O was reported and in 18-BD-197 where 3.0m (at) 1.34% Li2O and 5.5m (at) 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 (at) 1.20% Li2O and 2.1m (at) 1.99% Li2O.

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 worlds lithium between the 1950s and the 1990s. 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.
http://www.irw-press.at/prcom/images/messages/2018/43409/180517 - Drilling Update_FINALPRcom.004.jpeg

Piedmont Lithium Location and Bessemer City Lithium Processing Plant (FMC, Top Right) and Kings Mountain Lithium Processing Facility (Albemarle, Bottom Right)

The Project was originally explored by Lithium Corporation of America which eventually was acquired by FMC Corporation (FMC). FMC and Albemarle Corporation (Albemarle) both historically mined the lithium bearing spodumene pegmatites within the TSB and developed and continue to operate the two world-class lithium processing facilities in the region which were the first modern spodumene processing facilities in the western world. The Company is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region with the aim of developing a strategic, U.S. domestic source of lithium to supply the increasing electric vehicle and battery storage markets.

Piedmont, through its 100% owned U.S. subsidiary, Piedmont Lithium Inc., has entered into exclusive option agreements and land acquisition agreements with local landowners, which upon exercise, allow the Company to purchase (or in some cases long-term lease) approximately 1,200 acres of surface property and the associated mineral rights.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Piedmonts 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 announcement that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr. Lamont Leatherman, a Competent Person who is a Registered Member of the Society for Mining, Metallurgy and Exploration, a Recognized Professional Organization (RPO). Mr. Leatherman is a consultant to the Company. Mr. Leatherman 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. Mr. Leatherman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

To view entire news in English language, including drill results and JORC-Code, please follow the link:
https://www.asx.com.au/asxpdf/20180517/pdf/43v310y965g55c.pdf





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Date: 05/17/2018 - 13:48
Language: English
News-ID 1536092
Character count: 4095
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Firma: Piedmont Lithium Limited
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