Additional Near-Surface High Grade Drill Results from Piedmont’s Core Property

(firmenpresse) - Additional Near-Surface High Grade Drill Results from Piedmonts Core Property

- Piedmont has received assay results from 41 additional drill holes from the Phase 4 drilling campaign, with 40 of the 41 holes reporting significant mineralization, including:
- 17.0m (at) 1.60% Li2O from 75m and 6.6m (at) 1.44% Li2O from 64m in Hole 19-BD-295
- 14.9m (at) 1.76% Li2O from 27m and 4.3m (at) 0.95% Li2O from 52m in Hole 19-BD-298
- Occurrence of shallow intercepts is consistent with prior results on Piedmonts Core property
- An additional 18 Phase 4 holes have been drilled with assays pending
- Piedmont is on track to report a significant increase in Mineral Resource estimates in June 2019
- Scoping Study update with materially extended life of mine targeted for July 2019

Piedmont Lithium Limited (Piedmont or Company) is pleased to announce Phase 4 drill results for 41 drill holes (refer to Appendix 1) completed on the Piedmont Lithium Project (Project) located within the world-class Carolina Tin-Spodumene Belt (TSB) in North Carolina, USA. The results are from Exploration Target areas and new properties within the Projects Core property (Core) (Figure 1). Significant mineralization was encountered in 40 of the 41 holes reported.

Phase 4 drilling continues to expand the extent and continuity of the pegmatite system on Core, thus giving confidence in a significant Mineral Resource estimate update in June. In 2018, the Company announced a Mineral Resource estimate at Core of 16.2Mt (at) 1.12% Li2O which supported a 13-year project life as reported in the Companys Scoping Study announced in September 2018. In April 2019 the Company announced an increased Mineral Resource estimate of 19.0Mt (at) 1.15% Li2O inclusive of a Mineral Resource estimate at the Companys Central property.

Keith D. Phillips, President and Chief Executive Officer, commented: We are very pleased with these interim results from Phase 4 drilling, which continue to highlight high-grade mineralization near-surface. The shallow nature of the ore body, combined with pure spodumene mineralogy, local by-product markets and exceptional infrastructure, are important factors which should position the Piedmont Lithium Project in the first quartile of the cost curve. We look forward to reporting a significant increase to our property-wide resource in June, and to reflecting that enlarged resource in an updated scoping study in July.

For further information, contact:

Keith D. Phillips ---
President & CEO ---
T: +1 973 809 0505 ---
E: kphillips(at)piedmontlithium.com -

Anastasios (Taso) Arima
Executive Director
T: +1 347 899 1522
E: tarima(at)piedmontlithium.com
https://www.irw-press.at/prcom/images/messages/2019/46922/190529 - Core drill results_FINALPRcom.001.jpeg

Figure 1. Property Location Map

Core Property Drilling Discussion

The primary objective for the Phase 4 drilling program on Core is to increase the size of the current Core Mineral Resource estimate (16.2Mt (at) 1.12% Li2O) and extend the overall projected life-of-mine. Other objectives are to complete selected infill drilling to maintain a ratio of indicated to inferred resource classification and to explore potential mineralized trends on newly acquired properties with the Core property boundary.

In June 2018, the Company reported an Exploration Target of 4.5 to 5.5 million tonnes at a grade between 1.10% and 1.20% Li2O. The potential quantity and grade of this Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Much of the Phase 4 drilling at the Core property has focused on these areas.

To date at Core, 78 Phase 4 drill holes totaling 13,210 meters have been completed. On March 14, 2019, the Company released the initial drill results for 19 holes and 41 holes are in this press release (Figure 2) with 18 holes assays pending. Of the 60 holes reported, 59 holes have had significant mineralization, thus expanding the extent and continuity of the pegmatite system on the Core property.

Recent drilling in the southern portion of Core (holes 295, 298 and 299) has confirmed several thick, high grade spodumene bearing pegmatites. As seen on other portions of the property, these pegmatites have either a moderate southeast dip or near flat orientations (Figure 3).

The recognition of the flat pegmatite dikes has provided potential for mineralization in areas where it was once thought to be limited. Additional drilling, post resource update, will focus on these areas of renewed potential, such as the area highlighted on the cross section below (Figure 3.)
https://www.irw-press.at/prcom/images/messages/2019/46922/190529 - Core drill results_FINALPRcom.002.jpeg

Figure 2. Core Property Drill Hole Location map
https://www.irw-press.at/prcom/images/messages/2019/46922/190529 - Core drill results_FINALPRcom.003.jpeg

Figure 3. Cross section for Core Property

About Piedmont Lithium

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) holds a 100% interest in the Piedmont Lithium Project (Project) located within the world-class Carolina Tin-Spodumene Belt (TSB) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western worlds lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Piedmonts expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Piedmont, which could cause actual results to differ materially from such statements. Piedmont makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The Projects Core Property Mineral Resource of 16.2Mt (at) 1.12% Li2O comprises Indicated Mineral Resources of 8.5Mt (at) 1.15% Li2O and Inferred Mineral Resources of 7.7Mt (at) 1.09% Li2O. The Central Property Mineral Resource of 2.80Mt (at) 1.34% Li2O comprises Indicated Mineral Resources of 1.41Mt (at) 1.38% Li2O and 1.39Mt (at) 1.29% Li2O.

The information contained in this announcement has been prepared in accordance with the requirements of the securities laws in effect in Australia, which differ from the requirements of U.S. securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Australian terms defined in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). However, these terms are not defined in Industry Guide 7 ("SEC Industry Guide 7") under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and are normally not permitted to be used in reports and filings with the U.S. Securities and Exchange Commission (SEC). Accordingly, information contained herein that describes Piedmonts mineral deposits may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the disclosure in Piedmonts Form 20-F, a copy of which may be obtained from Piedmont or from the EDGAR system on the SECs website at http://www.sec.gov/.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr. Lamont Leatherman, a Competent Person who is a Registered Member of the Society for Mining, Metallurgy and Exploration, a Recognized Professional Organization (RPO). Mr. Leatherman is a consultant to the Company. Mr. Leatherman has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Leatherman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Exploration Targets and Mineral Resources is based on, and fairly represents, information compiled or reviewed by Mr. Leon McGarry, a Competent Person who is a Professional Geoscientist (P.Geo.) and registered member of the Association of Professional Geoscientists of Ontario (APGO no. 2348), a Recognized Professional Organization (RPO). Mr. McGarry is a Senior Resource Geologist and full-time employee at CSA Global Geoscience Canada Ltd. Mr. McGarry has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr. McGarry consents to the inclusion in this report of the results of the matters based on his information in the form and context in which it appears.

Piedmont confirms that: a) it is not aware of any new information or data that materially affects the information included in the original ASX announcements; b) all material assumptions and technical parameters underpinning Mineral Resources, Exploration Targets, Production Targets, and related forecast financial information derived from Production Targets included in the original ASX announcements continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons findings are presented in this report have not been materially modified from the original ASX announcements.

Appendix 1- Drill Core Assay Data

Hole EastinNorthiElev.Az.Dip Dep From To InterLi2
ID g ng (m) (o)(o) th (m) (m) cept O

(m) (m) (%)
19-BD474262391562261.8298-54.239 53.10 54.41.30 1.3
-266 .1 4.4 .0 7 .0 0 4

and 87.55 93.35.78 1.7
3 0

and 139.56 142.2.98 1.3
54 6

and 156.36 157.1.36 1.0
72 0

and 165.50 171.6.40 1.1
90 2

and 210.37 214.3.71 0.9
08 9

and 220.16 222.1.94 0.5
10 7

and 226.22 230.4.53 1.5
75 1

19-BD474006391553259.0291-47.161 83.09 86.53.43 0.9
-267 .9 3.4 .0 1 .0 2 2

and 96.78 103.6.65 0.9
43 7

inclu96.78 99.72.96 1.5
ding 4 8

and 144.58 147.2.87 1.2
45 9

19-BD474391391560265.4301-55.170 77.34 83.05.66 0.9
-268 .4 2.4 .0 4 .0 0 1

and 95.92 106.10.830.9
75 2

inclu97.92 102.4.42 1.3
ding 34 0

and 139.36 147.7.64 0.9
00 3

19-BD474029391551260.6298-55.161 109.36 113.4.56 1.2
-269 .0 5.8 .0 3 .0 92 6

and 131.00 133.2.45 0.8
45 2

and 137.66 140.3.15 1.2
81 9

19-BD474369391556266.0301-54.209 53.87 61.98.03 0.7
-270 .2 8.2 .0 6 .0 0 1

and 160.20 163.3.28 0.5
48 6

and 195.83 201.5.64 0.7
47 7

19-BD474249391558261.9300-54.233 66.04 69.02.98 1.1
-271 .2 3.8 .0 2 .0 2 0

and 91.86 93.21.36 0.7
2 4

and 106.30 113.6.75 1.5
05 3

and 151.62 154.3.28 0.7
90 1

and 184.24 190.5.94 0.8
18 2

inclu184.24 188.3.79 0.9
ding 03 9

and 226.78 229.3.10 0.8
88 6

19-BD474022391559259.2323-49.112 68.68 76.98.23 1.3
-272 .7 6.8 .0 1 .0 1 3

19-BD474345391553266.7297-53.245 161.15 166.5.45 1.7
-273 .5 5.3 .0 6 .0 60 7

and 197.24 199.1.78 0.6
02 1

and 205.72 210.4.42 1.3
14 7

and 239.20 241.2.27 0.7
47 5

19-BD474027391556256.2300-48.116 92.10 101.9.45 1.1
-274 .5 0.6 .0 0 .0 55 1

and 104.02 105.1.52 0.7
54 2

19-BD473677391676258.7312-49.159 34.50 42.17.60 0.6
-275 .1 8.5 .0 3 .0 0 4

and 67.84 68.91.11 0.6
5 9

and 138.28 140.2.09 0.9
37 1

19-BD474079391561252.4298-63.155 42.61 45.32.74 0.6
-276 .4 5.2 .0 6 .0 5 0

and 98.23 110.11.881.1
11 2

and 122.10 125.2.90 1.0
00 0

and 143.16 144.0.91 2.0
07 6

19-BD474192391543267.9298-55.197 95.80 98.52.70 1.1
-277 .7 6.7 .0 4 .0 0 3

and 146.37 148.2.05 1.0
42 4

and 163.60 167.4.04 0.9
64 1

and 169.88 173.3.30 1.0
18 4

19-BD473794391670258.0309-59.160 57.85 61.23.4 0.4
-278 .2 0.5 .0 6 .5 5 7

113.03 122.9.35 1.1
38 1

inclu120.38 122.2.00 2.0
ding 38 2

19-BD474101391573263.0298-44.173 53.22 56.02.84 1.0
-279 .2 7.5 .0 4 .0 6 6

and 59.80 62.32.52 1.0
2 8

and 118.35 120.2.20 1.1
55 4

and 131.20 135.4.77 0.7
97 2

and 151.08 154.3.39 1.1
57 6

and 160.65 167.6.35 1.3
00 5

19-BD474417391563265.3291-59.167 82.09 93.311.221.0
-280 .6 2.6 .0 8 .0 1 4

inclu87.69 92.34.61 1.5
ding 0 3

19-BD473764391678253.8305-55.114 55.88 63.17.26 0.9
-281 .1 3.6 .0 2 .0 4 5

inclu56.96 59.93.00 1.3
ding 6 9

and 97.12 99.01.90 1.1
2 3

19-BD474461391578263.5298-59.121 30.87 35.54.65 1.5
-282 .1 7.4 .0 5 .0 2 1

and 46.90 48.71.84 1.0
4 3

and 49.40 51.01.66 0.6
3 9

19-BD473830391677256.7288-55.177 21.42 23.11.73 0.8
-283 .2 5.3 .0 3 .0 5 7

and 31.45 37.15.68 0.8
5 2

and 76.48 81.04.52 0.8
0 6

and 108.86 112.3.77 1.0
63 1

and 114.4 116.1.74 0.9
14 8

and 157.16 167.10.211.0
37 6

19-BD474387391587261.9301-54.211 45.65 54.88.15 1.3
-284 .6 0.4 .0 9 .0 6

and 76.26 79.02.82 0.6
8 5

and 147.45 150.3.17 1.3
62 8

and 172 179.7.77 1.2
77 5

19-BD474137391568257.4305-54.167 51.15 53.12 0.6
-285 .8 7.5 7 .0 5 4

and 101.05 110.9.55 1.1
6

and 116.36 121.4.71 0.5
07 2

and 135.52 139.3.94 1.6
46 1

19-BD473816391682250.7313-55.191 44.3 47.12.86 1.5
-286 . 8.6 7 .0 6 2
6
and 85.1 88.63.51 0.9
1 5

and 113.51 116 2.49 1.3
2

and 121.09 126.5.02 1.2
11

and 141.45 143.2.13 1.5
58 9

19-BD474030391568252.2295-54.152 28.65 37.38.65 1.3
-287 .6 9.8 8 .0 4

and 123.06 124.1.48 1.1
54

19-BD473274391580258.8302-55.190 93.2 100.7.3 0.9
-288 .4 7.9 6 .5 5 7

19-BD473697391669260.4312-52.196 56.49 58.41.97 0.7
-289 .5 2.3 6 .0 6 2

and 91.62 98.36.68 1.2
4

and 120.18 121.1.14 1.7
32 4

and 171.26 178.6.76 0.6
02 8

19-BD474141391550263.7298-55.221 68.96 70.51.55 1.3
-290 .8 1.0 4 .0 1 3

and 74 77.43.47 1.1
7 1

and 85.46 87.62.14 1.3
0

and 159.02 163.4.1 0.5
12 6

and 200.01 202.2.77 0.6
9 0

and 210.15 211.1.75 1.4
9 6

19-BD473213391576266.0299-55.154 no significant
-291 .1 5.9 7 .5 intercepts

19-BD474116391546265.6302-53.190 61.77 66.85.07 1.0
-292 .0 6.2 6 4 7

and 87.93 89.61.71 1.9
4 6

19-BD473795391675253.5309-54.190 70.64 75.95.26 1.2
-293 .4 3.7 9 .0 8

and 103.17 105.2.65 1.4
82 4

and 123.27 124.1.49 1.4
76 4

and 140.23 146.6.09 0.9
32 2

and 153.3 161.8.5 1.1
8 4

Inclu156.3 160.4.5 1.5
ding 8 8

and 182.36 183.1.32 1.0
68

19-BD473150391580262.5301-46.152 86.56 89.22.7 1.1
-294 .1 4.7 1 .0 6

and 109.49 112.2.81 0.8
3 4

19-BD473231391588262.9297-54.161 64.03 70.66.62 1.4
-295 .6 7.1 2 .0 5 4

and 75.14 92.116.961.6
0

inclu75.14 79.34.16 2.0
ding 6

and 123.9 125.1.36 0.8
26 7

19-BD473717391664262.7311-55.236 68.85 71.83.00 1.0
-296 .2 5.8 3 .0 5 1

and 91.89 95.33.48 0.6
7 1

and 131.72 136 4.28 1.0
5

and 141.92 145.3.89 1.1
81 9

and 149.89 151.1.26 0.7
15 7

and 171.41 173.2.07 1.4
48 3

and 198.03 205.7.45 1.0
48 5

inclu199.03 201.2.27 1.6
ding 3 2

and 211.16 213.1.98 2.2
14 3

and 215.68 221.5.80 1.5
48 2

and 223.28 227.4.30 0.7
58 6

19-BD474067391540254.8299-54.215 49.38 51.52.20 0.7
-297 .9 7.8 0 .0 8 7

and 66.84 70.33.48 1.0
2 8

and 169.8 173.3.52 0.8
32 6

and 193 200.7.72 0.6
72 7

and 204.38 206.2.32 1.2
7 9

19-BD473181391589260.3304-61.80. 27.4 42.314.921.7
-298 .1 6.4 1 0 2 6

inclu27.4 36.49.0 2.0
ding 7

and 52 56.34.30 0.9
5

and 63.14 65.52.39 0.8
3 0

19-BD473461391574261.0293-46.134 57.61 59.01.43 1.4
-299 .5 7.7 5 .0 4 7

and 61.84 70.18.35 1.7
9 6

and 73.3 74.51.29 1.6
9 9

and 89.14 94.15.01 1.3
5 5

and 99.48 115 15.520.7
8

inclu107.5 110.3.2 1.6
ding 7 5

19-BD474190391521269.4297-53.206 17.18 25.48.24 0.6
-300 .6 2.5 9 .0 2 8

and 104.35 106.2.15 0.7
5 0

19-BD473644391662264.0300-55.225 83.72 89.55.83 0.8
-301 .4 5.8 8 .0 5 2

inclu83.72 85.72.05 1.6
ding 7 4

and 94.82 96.71.96 1.8
8 9

and 162.87 167.4.85 1.2
72 3

and 182.96 185.2.62 1.0
58 3

and 213.14 218.5.36 0.6
5 6

19-BD472409391571260.1301-48.146 47.15 48.81.71 0.7
-302 .6 2.4 6 .0 6 4

and 117.09 130.13.6 0.7
69 7

inclu119.09 124.5.00 1.4
ding 09 0

19-BD473890391652254.1327-50.154 119.37 124.5.51 1.8
-303 .2 2.7 2 .0 80 1

inclu119.37 120.1.47 3.2
ding 84 3

and 129.7 130.1.05 0.9
75 7

19-BD473963391683249.9307-60.149 2.00 5.003 1.2
-304 .2 0.7 1 .0 2

and 9.58 11.51.96 0.7
4 0

and 19.37 21.31.99 0.9
6 5

and 29.76 31.01.26 0.8
2 2

and 110.47 112.1.71 2.2
18 6

and 113.5 118.7.79 0.9
26 2

and 120.62 122.2.38 1.0
75 5

19-BD473689391678257.0311-50.155 125.82 129.3.48 0.9
-305 .3 7.9 7 .0 30 5

and 131.93 137.5.81 1.3
74 1

inclu133.85 137.3.89 1.6
ding 74 8

and 141.34 149.7.97 1.0
31 4

inclu141.34 145.3.71 1.4
ding 05 0

19-BD473969391697258.8308-55.134 22.22 25.33.11 1.1
-306 .0 3.6 8 .0 3 1

and 34.34 38.13.79 0.6
3 0

and 59.26 61.72.44 1.5
1

and 63.8 66.52.75 0.8
5 3

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https://www.asx.com.au/asxpdf/20190529/pdf/445fpkqd8zn6ky.pdf

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