Piedmont Lithium Ltd. completed a resource estimate for byproduct minerals at its namesake Piedmont lithium project in North Carolina.
Indicated and inferred byproduct resources total 16.2 million tonnes grading 30.1% quartz, 43.9% feldspar and 4.5% mica, representing 4.9 million tonnes of quartz, 7.1 million tonnes of feldspar and 720,000 tonnes of mica.
The company said Sept. 6 that the byproduct resource estimate was based on the same geologic model that resulted in the initial lithium resource estimate released in June. The lithium estimate comprised 16.19 million tonnes grading 1.12% lithium oxide for 182,000 tonnes of contained lithium oxide.
Piedmont Lithium is updating the scoping study on its namesake project to incorporate the production of byproduct quartz, feldspar and mica, which is expected to be completed shortly.
The scoping study released in July defined an after-tax net present value of US$777 million, discounted at 8%, with a 56% internal rate of return and a two-year payback period.