Piedmont Lithium Inc. (“Piedmont”) (NASDAQ:PLL, ASX: PLL))), a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, today announced that Piedmont’s partner, Sayona Mining Limited (ASX: SYA), recently reported the discovery of a new southern lithium pegmatite zone at the Moblan Lithium Project in Québec. Assay results from two holes at the newly defined Moblan South Discovery have identified lithium mineralization at shallow depth, approximately 200m south of the main Moblan deposit. Results include 5m @ 1.85% Li2O from 3.5m and 35m @ 1.62% Li2O from 27.6m in hole DDH135 as well as 6.6m @ 1.69% Li2O from 2.1m and 27.2m @ 1.53% Li2O from 22.0m in hole DDH136. Additional drill hole results are pending.
Piedmont holds an equity interest of approximately 16.5% in Sayona Mining.
Keith Phillips, President and Chief Executive Officer of Piedmont, commented “We congratulate our partners at Sayona on these very promising initial drill results from their Moblan deposit. The grade, thickness, and shallow depth of mineralization in these first two drill holes is very impressive. While Piedmont is not directly invested in the Moblan project, we are very pleased with our position as Sayona’s largest shareholder and as Sayona’s partner in the world-class Abitibi Hub lithium projects. Quebec is an ideal location for lithium hydroxide production in the future, given the province’s abundant mineral resources, low-cost hydroelectricity, and supportive provincial government.”
The statements below were prepared by, and made by, Sayona Mining. The following disclosures 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 announcement can be found here.
