Piedmont Lithium ("Piedmont" or the "Company") (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products critical to the U.S. electric vehicle supply chain, today announced that new and expanded high-grade lithium mineralization zones have been identified at North American Lithium ("NAL") in Quebec. NAL is jointly owned by Piedmont (25%) and Sayona Mining Limited (75%).
The results of the 2023 NAL drill program indicate the potential for a significant mineral resource upgrade and possible mine life extension. Multiple thick, high-grade spodumene-bearing pegmatites were discovered beyond current NAL pit operations and the planned pit shell model along the northwest, northeast, and southeast margins. The drill results support potential conversion of Inferred Resources to Measured and Indicated Resources within the pit shell model and could lead to additional resource definition below the pit shell model at depth.
NAL restarted production in March 2023 and has consistently achieved record production volumes each quarter.
"The drill program at North American Lithium demonstrates the potential for near-term upgrades to NAL's resources and reserves," said Keith Phillips, President and CEO of Piedmont Lithium. "We believe these results underscore the long-term potential of this important asset. NAL is the largest lithium operation in North America, and ramp-up is nearing completion. As an operating mine producing IRA-compliant spodumene concentrate, NAL is highly strategic and the possibility of an extension to mine life and/or an increase in annual production is very exciting."
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. Such statements 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). We believe these geographically diversified operations help us to play a pivotal role in supporting America's move toward energy independence and the electrification of transportation and energy storage.
