leadf
logo-loader
viewPiedmont Lithium Ltd

Piedmont Lithium expands drill program in North Carolina by 25,000 metres

The company also plans an update to the mineral resource estimate of the Central Property in early 2021, based on the result of drilling completed in September 2020.

Piedmont Lithium Ltd - Piedmont Lithium expands drill program in North Carolina by 25,000 metres
The expanded drilling program will also explore numerous spodumene-bearing pegmatites.

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) has expanded the current drilling program by an additional 25,000 metres with three more drill rigs added for a total for five rigs at its Piedmont Lithium Project in North Carolina.

The three additional drill rigs will arrive in the field in the coming weeks.

Piedmont’s expanded drill program is designed to complete the infill drilling on the Core Property with the object of upgrading the mineral resource classification category for select areas from the inferred category to the measured and indicated category.

The company plans to publish a resource estimate update for the Core Property in Q2, 2021, in support of reporting ore reserve and completion of a definitive feasibility study in mid-2021.

Dual objectives

Piedmont president and chief executive officer Keith Phillips said: “We are excited to be aggressively expanding our drill program with five drill rigs soon to be in the field.

“Our dual objectives are to upgrade the current inferred resources within the Core Property to support our upcoming definitive feasibility studies, while also growing the overall scale of our mineral resource tonnage.

“The Carolina tin-spodumene belt is one of the world’s most prolific lithium belts and we are hopeful that we will ultimately delineate North America’s largest spodumene resource, ideally located in North Carolina to power North America’s clean energy storage and EV revolution.”

Expanded drill program

The expanded drill program will also continue to explore the numerous spodumene pegmatites, which have been discovered on the company’s properties over the past several months and assays are pending for several of these new discoveries.

The company also plans an update to the mineral resource estimate of the Central Property in early 2021, based on the result of exploration, drilling on the property completed in September 2020.

Piedmont expects to complete the expanded drill program in late spring 2021 but acknowledges that the schedule may be impacted by the ongoing COVID-19 pandemic.

Quick facts: Piedmont Lithium Ltd

Price: 0.53 AUD

ASX:PLL
Market: ASX
Market Cap: $734.21 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Piedmont Lithium Ltd named herein, including the promotion by the Company of Piedmont Lithium Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Piedmont Lithium secures offtake agreement and invests $12M into lithium...

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) CEO Keith Phillips tells Proactive the group has made a $12 million strategic investment in Quebec hard-rock lithium developer Sayona Mining Ltd (ASX:SYA) (OTCMKTS:DMNXF) (FRA:DML), as well as a binding supply agreement for at least 50% of Sayona...

3 days, 18 hours ago

2 min read