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Piedmont Lithium granted trading halt ahead of capital raising

The company recently received high-grade lithium results from initial exploratory drilling in North Carolina, US.

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Piedmont's properties are in the Carolina Tin-Spodumene Belt (TSB)

Piedmont Lithium Ltd (ASX:PLL) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.

The halt will remain in place until the earlier of the start of normal trading on Monday, December 3, or when the announcement is released to the market.

READ: Piedmont Lithium reveals new high-grade lithium hits in North Carolina

The company recently received positive assay results from initial exploratory drilling on its new Sunnyside and Central properties in the Carolina Tin-Spodumene Belt (TSB) in North Carolina, US.

This maiden drill program comprised 10 holes, seven from Sunnyside and three from Central, totalling 1,411 meters.

Both properties yielded significant intercepts of high-grade lithium mineralisation, including:

• 34 metres at 1.04% lithium oxide (continuous mineralisation across one pegmatite) in hole 18-CT-002; and
• 20.9 metres at 1.42% lithium oxide (continuous mineralisation across one pegmatite) in hole 18-SS-001.

Quick facts: Piedmont Lithium Ltd

Price: 0.375 AUD

ASX:PLL
Market: ASX
Market Cap: $519.49 m
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