Piedmont Lithium Inc. (“Piedmont” or “Company”) is pleased to announce an updated global Mineral Resource estimate (“MRE”) (Table 1 attached) for the Company’s flagship Carolina Lithium Project in North Carolina, USA. The MRE includes updates for lithium and industrial mineral products.
The total MRE for the project is 44.2 Mt @ 1.08% Li2O, with 64% of the total MRE classified in the Indicated category. The Mineral Resource estimate reported in accordance with the U.S. Securities and Exchange Commission S-K 1300 standards and the Australasian JORC Code (2012 Edition).
Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased to have concluded our Phase 5 drill campaign and to further expand our world-class resource base. Carolina Lithium has one of the largest spodumene resources in North America, and the only one located in the United States. The increase in ‘Indicated’ resources of over 100% relative to resources previously reported under Australian standards, will underpin the definitive feasibility study for Carolina Lithium that we plan to publish later in 2021. The DFS will be another important step along the path to building America’s leading lithium business to support and enable the rapidly-growing electric vehicle supply chain in the United States.”
The Company intends to file an inaugural Technical Report Summary in accordance with the United States Securities and Exchange Commission Regulation S-K 1300 Modernization of Property Disclosures requirements in the Company’s next Quarterly Report on Form 10-Q.
The updated Mineral Resources will be incorporated into the upcoming Definitive Feasibility Study of the Carolina Lithium Project, which the Company expects to complete within Q4 2021.
Figure 1. Piedmont Lithium's Carolina Lithium Project Regional Map (Photo: Business Wire)
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