Piedmont Lithium (ASX:NASDAQ:PLL, OTC:PLLTL) is encouraged by the discovery of ‘new and expanded’ high-grade lithium zones at the North American Lithium (NAL) play in Quebec, which it co-owns with Sayona Mining Ltd (ASX:SYA).
Possible extended mine life
New drilling results from the 2023 exploration program reveal that there is a strong chance of increasing the mine's resources and extending its operational life.
The exploration team found several thick layers of lithium-rich spodumene pegmatites outside the current mining areas and the initially planned mining zones to the northwest, northeast and southeast.
These findings may help upgrade some of the less certain inferred resources to the more reliable categories of measured and indicated resources.
Resources below
There's also the potential to discover even more resources at depth, beneath the current mining areas.
Since restarting operations in March 2023, the North American Lithium site has set new production records every quarter.
"The drill program at North American Lithium demonstrates the potential for near-term upgrades to NAL's resources and reserves," said Piedmont Lithium (ASX:PLL, OTC:PLLTL) president and CEO Keith Phillips.
"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."
About Piedmont Lithium
Piedmont Lithium is working on a world-class integrated lithium business in the US to progress the transition to net-zero and promote a clean energy economy in America.
The company is based in the renowned Carolina Tin Spodumene Belt of North Carolina, the cradle of the lithium industry, positioning it 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 its resources, production operations and prospective customers, places Piedmont on the path to be the most sustainable provider of lithium hydroxide in the world and to play a pivotal role in supporting America’s move to the electrification of transportation and energy storage.