Piedmont Lithium has signed a strategic land acquisition agreement with local landowners in the Carolina Tin-Spodumene Belt (TSB) in North Carolina, US, to increase its lithium mineral rights by 188 acres.
The newly acquired land adjoins a 57-acre parcel already under option by the company, creating a 245-acre land package close to the former Hallman-Beam mine and near the company’s current Phase III drilling programme.
The company noted that it has identified areas of multiple spodumene bearing float blocks during initial prospecting at the new property, and has submitted grab samples for analysis.
In order to identify high priority drill targets, the company intends to start prospecting and soil sampling in the near-future.
Piedmont president and chief executive officer Keith Phillips said: “This land acquisition is highly strategic because the property is located on-trend and immediately south of the historic Hallman-Beam mine, one of the world’s largest sources of lithium from the 1950s to the 1990s.
“In combination with 57 adjacent acres we already control, we now have a 245-acre package, which could serve as a second core mining area for the company, possibly enabling us to significantly increase the size of our lithium project.
“Our geologists are excited about the prospects on the new land and will be designing a drill programme in the near-future.”
With the acquisition, the company has increased the land position at its Piedmont Lithium Project by 20% to a total of 1,092 acres within the TSB.
Originally, the project was explored by Lithium Corporation of America and was later acquired by US-based chemical manufacturing company FMC.
Piedmont aims to accelerate its land consolidation strategy throughout this year in order to support the integrated lithium project the company intends to develop.