- Piedmont’s lithium resource is up 47 per cent, brining total estimated resource at the Piedmont Lithium Project to 27.9 million tonnes
- Company CEO said he is optimistic Piedmont will discover North America’s largest spodumene ore body
- Piedmont’s share price is up 4.94 per cent today, currently sitting at $0.17 per share.
Piedmont has reported a 47 per cent increase in its mineral resource bringing the total estimate to 27.9 million tonnes.
The developments are at the company’s fully owned Piedmont Lithium Project, located at the Carolina Tin-Spodumene Belt, North Carolina.
Piedmont are working on being a key lithium producer for the United States electric vehicle market.
The increase at the Core property was to 25.1 million tonnes, which in turn boosted the projects total resource estimate.
Lithium oxide is recorded at at grade of 1.11 per cent at the project, which the project contains 309,000 tonnes of. 764,000 tonnes of Lithium carbonate equivalent are estimated to be hosted at the project.
According to the company, 74 per cent of mineral resources at the Core property are within 100 metres of the surface. While 97 per cent of resource is within 150 metres of the surface.
CEO and President of Piedmont Keith Phillips said “as we expand our land holdings and drill out other highly prospective targets, we are optimistic that we will ultimately identify North America’s largest spodumene ore body”.
All of the lithium resource at the project is attributed to spodumene mineralization.
A pre-feasibility level metallurgical testwork program is expected to be complete by July this year. Once finished, a scoping study will get underway.
Piedmont’s share price is up 4.94 per cent today, currently sitting at $0.17 per share.