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Piedmont Lithium receives more drill results, maiden resource on schedule

Notably, drilling is being completed under budget so additional metres have been added.
lithium symbol from periodic table
The maiden lithium resource expected in June will be incorporated into a scoping study

Piedmont Lithium Ltd (ASX:PLL) has received a further 41 holes from drilling at its 100% owned Piedmont Lithium Project in North Carolina, US.

As in previous assays, high-grade lithium mineralisation was encountered, with 40 of 41 holes showing high-grade mineralisation.

Highlights include 8.3 metres at 1.66% lithium oxide and 10.9 metres at 1.05% lithium oxide from the same hole.

READ: Piedmont Lithium has multiple share price drivers emerging as it works towards September scoping study

Piedmont remains on schedule to release a maiden JORC resource estimate by the end of the June quarter of 2018.

The company has completed 117 holes totaling 20,279 meters.

Notably, the original 20,000-metre program has been extended due to operational efficiencies resulting in the original program coming in under budget allowing for additional metres.

Piedmont’s president and CEO Keith Phillips said: “Phase III 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.”

Exploration drilling at Sunnyside to commence in June

A drill rig will be mobilized to the Sunnyside property within the next few weeks as soon as the required state permit is issued.

The initial Sunnyside drilling is expected to consist of 4 to 6 holes totaling 600 to 900 meters.

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