An extensive drilling program has commenced at the only independent lithium project strategically located in the US, one that could become a world class operation.
Piedmont Lithium ltd, an emerging lithium company, announced that following the completion of a capital raising and building program, a new comprehensive drill program has begun at its flagship Piedmont Lithium Project in North Carolina.
As part of the drilling program, Piedmont has targeted an exploration tonnage of around 10-15 million tonnes of lithium.
Piedmont is committed and confident that the project will become a world class integrated lithium operation in North Carolina, particularly due to its strategic location in the Carolina Tin-Spodumene Belt.
This location is significant because it provides a number of competitive strengths over other potential lithium locations across worldwide, including:
- The only independent spodumene project strategically located in the US
- Proximity to major downstream lithium processing facilities
- Proximity to major US battery customers (GM, BMW, Nissan, Mercedes, Tesla, etc)
- Closely located to established low cost gas and power infrastructure
- Strong, large and low cost local workforce with experience in lithium sector
- Proximity to major transportation infrastructure including highways, rail, airports and ports
- Located in North Carolina, a mining and development friendly state
Keith D. Phillips, President and Chief Executive Officer, said, "We are extremely pleased with the scale of our initial Exploration Target for the Project, which is based on the portion of our initial core land package that has been drilled to date, and leaves considerable upside as we broaden our drill horizons and continue to expand our land package. Our next drilling program will position us to announce a maiden Mineral Resource in early to mid-2018, which will serve as the basis of a Scoping Study on the Project shortly thereafter.
"Given the numerous advantages inherent in our location in North Carolina, including outstanding infrastructure, a strong local work force, and proximity to important lithium processing facilities and other downstream customers, this initial Exploration Target is more than sufficient to support the potential re-establishment of a strategic high value battery materials operation."