Piedmont Lithium June 2019 Quarterly Report
July 30 2019 - 6:00AM
Business Wire
Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont”
or “Company”) is pleased to present its June 2019 quarterly
report. Highlights during and subsequent to the quarter were:
- Increased total Mineral Resources for the Piedmont Lithium
Project (“Project”) by 72% to 27.9 million tonnes (“Mt”) at a
grade of 1.11% Li2O following:
- anupdated Mineral Resource estimate for the Company’s Core
property, increasing the Core property Mineral Resources to 25.1 Mt
at a grade of 1.09% Li2O; and
- an initial Mineral Resource estimate for the Company’s Central
property, located approximately one mile south of the Core
property, of 2.8 Mt at a grade of 1.34% Li2O.
- Completed mineralogical analysis on samples of mineralized
pegmatites and composite samples from the Project demonstrating
that lithium occurs almost exclusively within spodumene in the
Project’s ore body.
- Completed PFS-level metallurgical test work demonstrating high
quality spodumene concentrate product with a grade above 6.0% Li2O,
iron oxide below 1.0%, and low impurities from representative bulk
samples using a combination of Dense Medium Separation (“DMS”) and
flotation technology.
- Continued the 25,000-meter Phase 4 drill program, where a total
of 94 holes have been completed to date for a total of 15,738
meters.
- Substantially completed engineering for the planned Scoping
Study update to integrate updated Mineral Resources, latest
metallurgical testwork, flowsheet optimization and updated
costs.
- Continued numerous preliminary off-take, financing and
strategic conversations, including companies from the lithium,
mining, chemicals, battery, automotive and private equity
sectors.
- After quarter end, on July 10th, Piedmont completed an
institutional placement of 145 million shares at A$0.145 per share
to raise gross proceeds of A$21 million, led by cornerstone
investor, Fidelity International (“Fidelity”) and the Company’s
largest shareholder, AustralianSuper.
Next steps:
- Complete an updated Scoping Study based on updated Mineral
Resources, latest metallurgical testwork, flowsheet optimization
and updated costs.
- Continue Phase 4 drilling and expansion of the Company’s land
position in the Carolina Tin-Spodumene Belt (“TSB”) with a focus on
areas of high mineral prospectivity.
- Complete permit applications and secure the necessary permits
and approvals to commence mining and processing operations at the
Project.
- Advance development of the Company’s proposed lithium hydroxide
chemical plant including metallurgical testwork for the conversion
of spodumene concentrate produced from Piedmont ore.
To view the full ASX Announcement, click here.
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version on businesswire.com: https://www.businesswire.com/news/home/20190730005363/en/
Keith D. Phillips President & CEO T: +1 973 809 0505
E: keith@piedmontlithium.com
Anastasios (Taso) Arima Executive Director T: +1 347 899
1522 E: taso@piedmontlithium.com
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