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Piedmont Lithium’s initial Central estimate lifts project resources to 19 million tonnes

The maiden resource at the Central property is 2.8 million tonnes at 1.34% lithium oxide.

Drilling at Piedmont project
Drilling at the Piedmont project in North Carolina is continuing

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) has delivered an initial resource from the Central property which boosts overall resources at the Piedmont Lithium Project in the US to 19 million tonnes at 1.15% lithium oxide.

The initial Central resource is 2.8 million tonnes at 1.34% lithium oxide with more than 50% of this sitting in the indicated resource category.

This estimate is based on just 18 diamond core holes for 2,840 metres with the deposit remaining open in all directions.

READ: Piedmont Lithium to add muscle as it approaches construction decision

President and CEO Keith D Phillips said the company was are very pleased with the initial high-grade mineral resource estimate (MRE) at Central.

“This is a property with great potential and the MRE is based on only 18 drill holes, 16 of which encountered thick, high-grade mineralisation.

“We hope to expand our land holdings in this area and ultimately drill out a substantially larger resource at Central.”

READ: Piedmont Lithium makes steady progress at lithium project in North Carolina

The Central property is about 1-mile south of the Core property which hosts the majority of the project’s resources to date with 16.2 million tonnes at a grade of 1.12%.

Piedmont project resource location map.

Piedmont is continuing drilling at the project which is in the world-class Carolina Tin-Spodumene Belt in North Carolina with a resource update for the Core property expected later this quarter based on around 70 holes.

Scoping study being updated

The Central resource estimate and overall resource update will be included in an updated scoping study for the project which is scheduled for delivery in July 2019.

Phillips said: “Phase IV drilling continues with three rigs operating on the Core property and we expect a material resource upgrade in June.

“The Piedmont project is quickly becoming one of the largest hard-rock lithium projects in North America, while enjoying all the benefits of our unique North Carolina, USA location.”

Central mineral resource estimate showing classification categories.

READ: Piedmont Lithium delivers best ever interceptions at namesake project on Carolina TSB

The company aims to further develop the Central deposit and its resource and will complete additional step out and infill drilling.

The intention is to establish geological and grade continuity within the Corridor Extensions by using a drill spacing of 40 x 40 metres.

Quick facts: Piedmont Lithium Ltd

Price: 0.099 AUD

Market: ASX
Market Cap: $102.25 m

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