|
Piedmont Lithium Limited holds a 100% interest in the Project located within the Carolina TSB and along trend to the Hallman Beam and Kings Mountain mines, historically providing much of the western world's lithium between the 1950s and 1980s. The TSB has been described as one of the largest lithium regions in the world and is located approximately 25 miles west of Charlotte, North Carolina. Since securing the exploration rights and initial land position in mid-2016, we have focused on proving the Project's potential. The Project comprises three (3) primary properties, which are the Core, Central, and Sunnyside properties. Four (4) drilling programs by the Company have recorded high grade mineralization in a majority of drill holes. Resource drilling has defined over 100 spodumene-bearing pegmatite bodies, with 74% of mineralization occurring within 100 meters of the surface. Pegmatites in each corridor on the Company's Core property remain partially open at depth and remain open along strike. Pegmatites on the Company's Central property remain open at depth and along strike. The TSB is one of the premier localities in the world to be exploring for lithium pegmatites given its favorable geology and ideal location with easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities. We are in a unique position to leverage our position as a first mover in restarting exploration in this historic lithium-producing region. At June 30, 2019, we have entered into exclusive option agreements and land acquisition agreements with local landowners, which upon exercise, allow us to purchase (or in some cases long-term lease) approximately 2,207 acres of surface property and the associated mineral rights. The Company also controls a 60.6-acre parcel in Kings Mountain, North Carolina for the site of the Company's planned Chemical Plant, after signing an extension to the purchase agreement in May 2019.
|