|Piedmont Lithium Inc. [PLL-NASDAQ, ASX], a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, announced that Piedmont’s partner, Sayona Mining [SYA-ASX] recently announced completion of a Mineral Resource estimate update for the North American Lithium and Authier Projects in Quebec totaling 119.1 million metric tonnes grading 1.05% Li2O.
Piedmont owns a 25% project interest in the North American Lithium and Authier Projects via an equity stake in Sayona Quebec as well as an equity interest of approximately 17% in Sayona Mining. Sayona Mining’s estimate, including 73.7 Mt grading 1.05% Li2O of Measured and Indicated Resources, was reported in accordance with JORC Code (2012) and NI 43-101 standards.
Piedmont COO, Patrick Brindle, said, “Sayona’s reported doubling of the Mineral Resources at North American Lithium and Authier supports Sayona Quebec’s claim as the largest spodumene resource in Canada, and this is the next step in helping Piedmont achieve its vision of becoming the leading lithium hydroxide producer in North America. (Spodumene is the hard rock mineral of lithium.)
Brindle added, “We are happy and excited for our partners. Sayona Quebec is one of the largest and best-located spodumene businesses in Canada and, as a past-producer with the bulk of plant and equipment in place, we believe is also the most advanced at this time. We look forward to Sayona’s upcoming release of new technical studies for both Authier and North American Lithium as we advance our plans to jointly restart spodumene concentrate production at North American Lithium in 2023 as the world’s demand for electric vehicles and lithium hydroxide continues to accelerate.”