Piedmont Lithium has signed additional land option and acquisition agreements with local landowners in the Carolina Tin-Spodumene Belt (TSB) in North Carolina, US, to enhance its landholding.
The agreements allow the company to boost its lithium mineral rights by 188 acres.
As a result, the company has further increased its land position at its lithium project by 26% to a total of 903 acres.
The development is consistent with Piedmont’s strategy to consolidate the region between the newly optioned and historical landholdings.
Piedmont Lithium president and CEO Keith Phillips said: “These strategic land acquisitions are on-trend and should enable us to grow mineral resources over time, ultimately leading to greater throughput and a longer mine life.
“These latest agreements increase our land holdings in the prolific Carolina Tin-Spodumene Belt by over 26%, and we are in conversations with many other landowners to further consolidate our position in the region.”
According to the company, the additional landholdings are estimated to be prospective for spodumene bearing pegmatite.
Based on initial prospecting, one of the new properties was identified to host an area comprising several spodumene bearing float blocks, which range up to 1m in scale.
In order to identify high-priority drill targets, prospecting and soil sampling will be undertaken for all new properties.