High-grade North American Lithium Drill Results Show Potential for Mineral Resource Upgrade
03 11월 2023 - 5:30AM
Business Wire
- Multiple, new, high-grade lithium zones identified, including
outside the planned pit shell model
- Some intercepts at thicker and higher grades than previously
encountered
- Results of in-pit drilling indicate potential for further
mineral resource conversion
Piedmont Lithium (“Piedmont” or the “Company”) (Nasdaq: PLL;
ASX: PLL), a leading global supplier of lithium resources
critical to the U.S. electric vehicle supply chain, today announced
that initial 2023 drill campaign results from the jointly owned
North American Lithium (“NAL”) project have identified multiple,
thick, high-grade spodumene-bearing pegmatites.
Drill results identified new, high-grade mineralized zones along
the northwest margin of the NAL deposit, beyond the current NAL pit
operations and the planned pit shell model. Additionally,
mineralization from inside the pit shell model shows continuity and
consistency in grade and thickness, providing the potential for
mineral resource conversion within the pit shell model as well as
definition below the existing pit.
“We are pleased with these excellent drill results, which
indicate the potential for further resource and mine life extension
at NAL. The thick widths and high grades of these intercepts are
encouraging and underscore the importance of NAL, which is already
North America’s largest operating lithium mine,” said Piedmont
Lithium President and CEO Keith Phillips. “We look forward to the
remaining assay results as NAL continues to ramp production and
prepare Q4’23 customer shipments.”
NAL is a wholly owned project of Sayona Quebec, a joint venture
between Piedmont (25%) and Sayona Mining (75%). Piedmont holds an
offtake agreement to purchase the greater of 113,000 metric tons
per year or 50% of the spodumene concentrate production from North
American Lithium at a ceiling price of $900 per metric ton
(SC-6.0%) on a life-of-mine basis.
Cautionary Note to U.S. Investors Piedmont’s public
disclosures are governed by the U.S. Exchange Act of 1934,
including Regulation S-K 1300 thereunder, whereas Sayona discloses
estimates of “measured,” “indicated,” and “inferred” mineral
resources as such terms are used in the JORC Code and Canada’s
National Instrument 43-101. Although S-K 1300, the JORC Code, and
NI 43-101 have similar goals in terms of conveying an appropriate
level of confidence in the disclosures being reported, they at
times embody different approaches or definitions. Consequently,
investors are cautioned that public disclosures by Sayona prepared
in accordance with the JORC Code or NI 43-101 may not be comparable
to similar information made public by companies, including
Piedmont, subject to S-K 1300 and the other reporting and
disclosure requirements under the U.S. federal securities laws and
the rules and regulations thereunder.
The statements in the link below were prepared by, and made by,
Sayona Mining. The following disclosures are not statements of
Piedmont and have not been independently verified by Piedmont.
Sayona Mining is not subject to U.S. reporting requirements or
obligations, and investors are cautioned not to put undue reliance
on these statements. Sayona Mining’s original announcements can be
found here.
About Piedmont Lithium Piedmont Lithium Inc. (Nasdaq: PLL;
ASX: PLL) is developing a world-class, multi-asset, integrated
lithium business focused on enabling the transition to a net zero
world and the creation of a clean energy economy in North America.
Our goal is to become one of the largest lithium hydroxide
producers in North America by processing spodumene concentrate
produced from assets where we hold an economic interest. Our
projects include our Carolina Lithium and Tennessee Lithium
projects in the United States and partnerships in Quebec with
Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM:
ALL; ASX: A11). These geographically diversified operations will
enable us to play a pivotal role in supporting America’s move
toward energy independence and the electrification of
transportation and energy storage. For more information, follow us
on Twitter @PiedmontLithium and visit www.piedmontlithium.com.
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of or as described in
securities legislation in the United States and Australia,
including statements regarding exploration, development
construction and production activities of Sayona Mining, Atlantic
Lithium and Piedmont; current plans for Piedmont’s mineral and
chemical processing projects; Piedmont’s potential acquisition of
an ownership interest in Ewoyaa; and strategy. Such forward-looking
statements involve substantial and known and unknown risks,
uncertainties, and other risk factors, many of which are beyond our
control, and which may cause actual timing of events, results,
performance or achievements and other factors to be materially
different from the future timing of events, results, performance,
or achievements expressed or implied by the forward-looking
statements. Such risk factors include, among others: (i) that
Piedmont, Sayona Mining or Atlantic Lithium may be unable to
commercially extract mineral deposits, (ii) that Piedmont’s, Sayona
Mining’s or Atlantic Lithium’s properties may not contain expected
reserves, (iii) risks and hazards inherent in the mining business
(including risks inherent in exploring, developing, constructing
and operating mining projects, environmental hazards, industrial
accidents, weather or geologically related conditions), (iv)
uncertainty about Piedmont’s ability to obtain required capital to
execute its business plan, (v) Piedmont’s ability to hire and
retain required personnel, (vi) changes in the market prices of
lithium and lithium products, (vii) changes in technology or the
development of substitute products, (viii) the uncertainties
inherent in exploratory, developmental and production activities,
including risks relating to permitting, zoning and regulatory
delays related to our projects as well as the projects of our
partners in Quebec and Ghana, (ix) uncertainties inherent in the
estimation of lithium resources, (x) risks related to competition,
(xi) risks related to the information, data and projections related
to Sayona Mining or Atlantic Lithium, (xii) occurrences and
outcomes of claims, litigation and regulatory actions,
investigations and proceedings, (xiii) risks regarding our ability
to achieve profitability, enter into and deliver product under
supply agreements on favorable terms, our ability to obtain
sufficient financing to develop and construct our projects, our
ability to comply with governmental regulations and our ability to
obtain necessary permits, and (xiv) other uncertainties and risk
factors set out in filings made from time to time with the U.S.
Securities and Exchange Commission (“SEC”) and the Australian
Securities Exchange, including Piedmont’s most recent filings with
the SEC. The forward-looking statements, projections and estimates
are given only as of the date of this press release and actual
events, results, performance and achievements could vary
significantly from the forward-looking statements, projections and
estimates presented in this press release. Readers are cautioned
not to put undue reliance on forward-looking statements. Piedmont
disclaims any intent or obligation to update publicly such
forward-looking statements, projections, and estimates, whether as
a result of new information, future events or otherwise.
Additionally, Piedmont, except as required by applicable law,
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of Piedmont, its
financial or operating results or its securities.
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version on businesswire.com: https://www.businesswire.com/news/home/20231102088545/en/
For further information, contact:
Erin Sanders SVP, Corporate Communications & Investor
Relations T: +1 704 575 2549 E: esanders@piedmontlithium.com
Christian Healy/Jeff Siegel Media Inquiries E:
Christian@dlpr.com E: Jeff@dlpr.com
Piedmont Lithium (NASDAQ:PLL)
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