NEW YORK, June 6, 2018 /PRNewswire/ --
- Piedmont has completed its
Phase 3 drill program on the Core property and has received assay
results from an additional 26 holes, with high grade mineralisation
in all holes including:
-
- 23.3m of
cumulative thickness of mineralization (non-continuous) across 5
pegmatites which includes high grade intercepts of 5.2m @ 1.30% Li2O,
7.5m @ 1.37% Li2O
and 5.2m @ 1.58%
Li2O in Hole 18-BD-189
- 28.5m of
cumulative thickness of mineralization (non-continuous) across 4
pegmatites which includes high grade intercepts of 8.4m @ 1.47% Li2O,
5.2m @ 1.53 Li2O
and 11.4m @ 1.00%
Li2O in Hole 18-BD-220
- 20.4m @
1.61% Li2O of continuous
mineralization across 1 pegmatite, including a
high-grade zone of 11.0m @ 2.04%
Li2O in Hole 18-BD-228
- Maiden Mineral Resource estimate for the Core property to be
announced in the coming weeks
- Hole 18-BD-228 is the thickest single pegmatite to date on
the property with over 20 meters of continuous high-grade
mineralization (20.4m @ 1.61%
Li2O)
- Exploration drilling on the recently-announced Sunnyside property has commenced and results
are expected to be made available in the coming weeks
Piedmont Lithium Limited ("Piedmont" or "Company") (ASX: PLL; NASDAQ:
PLLL) is pleased to advise that the Company has completed its
Phase 3 Drilling Program and has received assay results from
another 26 holes from its Core property in the Carolina
Tin-Spodumene Belt ("TSB") in North Carolina, United States. The Company intends to release
a maiden Mineral Resource estimate on the Core property in
accordance with the JORC Code in the coming weeks.
For the Phase 3 program, the Company has completed 124 holes
totalling 21,360 meters on its core property. Fifteen remaining
holes from the Phase 3 campaign have assays pending.
Operational efficiencies during the Phase 3 drilling budget
allowed the Company to exceed the planned meterage of 20,000 meters
by 1,360 meters and will allow for initial drilling on the
Sunnyside and Central properties
(see Table below). The necessary state permits have been
received and drilling is underway at the Sunnyside Property with
one hole completed. Results of drilling in these exploratory
areas will be released in the coming weeks.
Keith D. Phillips, President and
Chief Executive Officer, said, "Drilling on the core property is
now complete and we look forward to issuing our maiden Mineral
Resource estimate in the near future, accompanied by a revised
exploration target. Additionally, we are excited about the
exploration drilling that has commenced at Sunnyside and hopeful that we will identify
significant resource upside on that property."
Property
|
Infill
Drilling
Completed
|
Exploration
Drilling
Completed
|
Drilling
Planned
|
Total
Drilling
|
Core
|
15,869
|
5,491
|
-
|
21,360
|
Sunnyside
|
-
|
167
|
733
|
900
|
Central
|
-
|
-
|
600
|
600
|
Total
|
15,869
|
5,658
|
1,333
|
22,860
|
For further information, contact:
Keith D.
Phillips
|
Anastasios (Taso)
Arima
|
President &
CEO
|
Executive
Director
|
T: +1 973 809
0505
|
T: +1 347 899
1522
|
E:
kphillips@piedmontlithium.com
|
E:
tarima@piedmontlithium.com
|
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SOURCE Piedmont Lithium Limited