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Piedmont Reports Further High-Grade Mineralization after Completion of Phase 3 Drilling

Piedmont Lithium Limited is happy to report completion of its Phase 3 Drilling Program and has received assay results from an additional 26 holes from its Core property in the Carolina Tin-Spodumene Belt ("TSB") in North Carolina, United States. Piedmont plans to release a maiden Mineral Resource estimate on the Core property compliant with the JORC Code in the weeks ahead.

Piedmont Lithium Project Drill Location Figure Map (Image credit: Piedmont)

  • Piedmont has concluded its Phase 3 drill program on the Core property and has received assay results from an extra 26 holes, with high-grade mineralization in all holes including:
    • 23.3 m of cumulative thickness of mineralization (non-continuous) across 5 pegmatites which includes high-grade intercepts of 5.2 m @ 1.30% Li2O, 7.5 m @ 1.37% Li2O and 5.2 m @ 1.58% Li2O in Hole 18-BD-189
    • 28.5 m of cumulative thickness of mineralization (non-continuous) across 4 pegmatites which comprises high-grade intercepts of 8.4 m @ 1.47% Li2O, 5.2 m @ 1.53 Li2O and 11.4 m @ 1.00% Li2O in Hole 18-BD-220
    • 20.4 m @ 1.61% Li2O of continuous mineralization across 1 pegmatite, including a high-grade zone of 11.0 m @ 2.04% Li2O in Hole 18-BD-228
  • Maiden Mineral Resource estimate for the Core property to be declared in the weeks ahead
  • Hole 18-BD-228 is the thickest single pegmatite so far on the property with more than 20 m of continuous high-grade mineralization (20.4 m @ 1.61% Li2O)
  • Exploration drilling on the recently-announced Sunnyside property has begun and results are estimated to be made available in the coming weeks

For the Phase 3 program, Piedmont has finished 124 holes totaling 21,360 m on its Core property. Assays from 15 remaining holes from the Phase 3 campaign are pending.

Operational efficiencies during the Phase 3 drilling budget enabled Piedmont to surpass the planned meterage of 20,000 m by 1,360 m and will allow for preliminary drilling on the Sunnyside and Central properties.  The required state permits have been received and drilling has commenced at the Sunnyside Property with one hole completed.  Results of drilling in these exploratory areas will be published shortly.

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.

Keith D. Phillips, President and Chief Executive Officer

Property Infill Drilling Completed Exploration Drilling
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

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