Piedmont Focused on Increased Sustainability With 40% Increase in Quartz, Feldspar, and Mica Mineral Resources
- Mineral Resource estimates have increased by 40% for quartz (11.5Mt), feldspar (17.8Mt), and mica (1.6Mt)
- Piedmont has added John Walker, former CEO of The Quartz Corp, as a strategic advisor to the Company
- Market analysis indicates far greater potential demand for Piedmont industrial mineral products than prior Company estimates
- The Company is advanced in discussions with prospective regional customers and strategic partners in the solar glass, engineered quartz, ceramic tile, and other industrial minerals markets
- Expanded quartz, feldspar, and mica production will feature in the Company’s upcoming technical studies
Piedmont Lithium Inc. (“Piedmont” or “Company”) is pleased to announce an updated Mineral Resource estimate for industrial mineral products quartz, feldspar, and mica. The estimate is based on the lithium Mineral Resource previously reported on April 8, 2021 (39.2Mt @ 1.09 Li2O%) for spodumene bearing pegmatites at the Company’s flagship Piedmont Carolina Lithium Project (“Project”) in North Carolina, USA.
Table 1: Mineral Resource Estimates for Industrial Minerals – Piedmont Carolina Lithium Project
Category
Tonnes (Mt)
Quartz
Feldspar
Mica
Grade
(%)
Tonnes
(Mt)
Grade
(%)
Tonnes
(Mt)
Grade
(%)
Tonnes
(Mt)
Indicated
21.6
29.4
6.34
45.0
9.69
4.2
0.90
Inferred
17.6
29.3
5.16
45.9
8.08
4.1
0.73
Total
39.2
29.4
11.50
45.4
17.77
4.2
1.63
To help advance the marketing of these mineral products, John Walker joined the Piedmont team last fall as a Strategic Consultant. John has extensive experience in the quartz and feldspar markets having worked with Imerys for more than twenty years and spending another eight years with The Quartz Corp as CEO. John has provided invaluable input on market dynamics, desired product quality and other customer criteria, allowing Piedmont to develop a robust business model for marketing these materials.
Keith D. Phillips, President and Chief Executive Officer, commented: “Piedmont continues to find increased value in our industrial mineral products quartz, feldspar, and mica. Our location in close proximity to potential customers helps advance our goal of becoming one of the world’s most sustainable lithium manufacturing businesses. Placing more of our valuable resources into the market creates circular economy opportunities through waste reduction while providing substantial credits towards our cost of lithium hydroxide production. Our upcoming technical studies are expected to demonstrate both the environmental and economic benefits that our team is creating through their ongoing efforts to make beneficial use of every part of our ore body.”
For further information, contact:
Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com
Brian Risinger
VP - Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com
Technical Discussion
The quartz, feldspar, and mica Mineral Resource estimates (“MRE”), reported in Table 1, include an update for the Core property and an initial Mineral Resource estimate for the Central and Huffstetler properties. The details of the three MREs are summarized in Table 2. The mineral percentages for the MRE were derived from a normative mineralogical calculation using XRF major oxide analysis for spodumene bearing pegmatites within the current lithium Mineral Resource. Mineralogical results are similar for each of the Piedmont Carolina Lithium properties which illustrates the mineralogical consistency of the Carolina Tin-Spodumene Belt (“TSB”).
Table 2: Piedmont Carolina Lithium By-Product Quartz, Feldspar, and Mica Mineral Resources Estimates
Category
Deposit
Tonnes (Mt)
Li2O
Quartz
Feldspar
Mica
Grade
(%)
Tonnes (Mt)
Grade
(%)
Tonnes (Mt)
Grade
(%)
Tonnes (Mt)
Grade
(%)
Tonnes (Mt)
Indicated
Core
19.08
1.10
0.210
29.52
5.63
45.00
8.58
4.30
0.82
Central
2.47
1.30
0.030
28.79
0.71
45.16
1.12
3.24
0.08
Huffstetler
-
-
-
-
-
-
-
-
-
Total
21.55
1.12
0.241
29.42
6.34
44.97
9.69
4.18
0.90
Inferred
Core
12.61
1.03
0.130
29.27
3.69
45.80
5.78
4.28
0.54
Central
2.69
1.10
0.030
29.99
0.81
43.88
1.18
4.08
0.11
Huffstetler
2.31
0.91
0.021
28.82
0.67
48.60
1.12
3.24
0.08
Total
17.61
1.03
0.181
29.31
5.16
45.90
8.08
4.12
0.73
MRE Total
39.16
1.09
0.422
29.37
11.50
45.38
17.77
4.16
1.63
Central and Huffstetler properties are within one mile of the Core property along the trend of the TSB (Figure 1). Infill drilling continues on the Core property. These results will be used to update lithium and by-product Mineral Resources prior to completion of a Definitive Feasibility Study currently scheduled for September 2021.
Figure 1 – Piedmont Carolina Lithium Project Mineral Resource location map
showing updated MRE and resource constraining shells
Summary of Resource Estimate and Reporting Criteria
The resource has been prepared in compliance with JORC Code 2012 Edition and the ASX Listing Rules. The Company has included in Annexure A, the Table Checklist of Assessment and Reporting Criteria for the Piedmont Carolina Lithium Project as prescribed by the JORC Code 2012 Edition and the ASX Listing Rules.
The following is a summary of the pertinent information used in the MRE with the full details provided in Table 1 included as Appendix 1: JORC Table 1.
Geology and Geological Interpretation
Regionally, the Carolina Tin-Spodumene belt extends for 40 kilometers along the litho tectonic boundary between the Inner Piedmont and Kings Mountain belts. The mineralized pegmatites are thought to be concurrent and cross-cutting dike swarms extending from the Cherryville granite, as the dikes progressed further from their sources, they became increasingly enriched in incompatible elements such as lithium (Li) and tin (Sn). The dikes are considered to be unzoned.
On the property scale, spodumene pegmatites are hosted in a fine to medium grained, weakly to moderately foliated amphibolites and metasediments. The spodumene pegmatites range from fine grained (aplite) to very coarse-grained pegmatite with primary mineralogy consisting of spodumene, quartz, plagioclase, potassium-feldspar and muscovite.
Primary mineralogy and compositional averages for the modelled resource pegmatites are summarized in Table 2.
Table 3: Mineralogy and Compositional Averages for the Modelled Resource Pegmatites
Mineral
Compositional Average (%)
Core
Central
Huffstetler
Spodumene
13.6
16.7
11.8
Quartz
29.4
29.4
28.8
Albite (felsdpar)
35.7
35.6
36.4
K-spar (feldspar)
9.7
8.9
12.2
Muscovite (mica)
4.3
3.7
3.2
Biotite
1.9
1.6
3.4
Residual
5.5
4.1
4.1
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About Piedmont Lithium
Piedmont Lithium (Nasdaq:PLL; ASX:PLL) is developing a world-class integrated lithium business in the United States, enabling the transition to a net zero world and the creation of a clean energy economy in America. Our location in the renowned Carolina Tin Spodumene Belt of North Carolina, the cradle of the lithium industry, positions us to be one of the world’s lowest cost producers of lithium hydroxide, and the most strategically located to serve the fast-growing US electric vehicle supply chain. The unique geographic proximity of our resources, production operations and prospective customers places us on the path to be among the most sustainable producers of lithium hydroxide in the world and should allow Piedmont to play a pivotal role in supporting America’s move to the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on Piedmont’s 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 information contained herein has been prepared in accordance with the requirements of the securities laws in effect in Australia, which differ from the requirements of United States securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Australian mining 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”). Comparable terms are now also defined by the U.S. Securities and Exchange Commission (“SEC”) in its newly adopted Modernization of Property Disclosures for Mining Registrants as promogulated in its S-K 1300 standards. While the guidelines for reporting mineral resources, including subcategories of measured, indicated, and inferred resources, are largely similar for JORC and S-K 1300 standards, documentation is ongoing with respect to the S-K 1300 Technical Report Summary template to formally categorize Piedmont’s mineral holdings as both JORC and S-K 1300 compatible. While the competent persons responsible for this announcement do not foresee any challenges in categorizing the resources delineated in this announcement as S-K 1300 compliant, information contained herein that describes Piedmont’s mineral deposits is not fully 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 Piedmont’s disclosure in its SEC filings, copies of which may be obtained from Piedmont or from the EDGAR system on the SEC’s 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 an employee of 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 ‘Professional Geoscientists Ontario’ (PGO no. 2348), a ‘Recognized Professional Organization’ (RPO). Mr. McGarry is a Principal Resource Geologist and full-time employee at McGarry Geoconsulting Corp. 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.
This announcement has been authorized for release by the Company’s CEO, Mr. Keith Phillips.