Piedmont Lithium Inc, a key player in the North American electric vehicle (EV) supply chain, announced the final encouraging results from its 2024 drilling program at the North American Lithium (NAL) operation in Quebec, Canada on April 23. NAL, recognized as the largest producing spodumene mine in North America, is a joint venture between Piedmont Lithium (25%) and Sayona Mining Limited (75%).

The extensive drilling program, which commenced in February 2024 and concluded in December 2024, strategically aimed to enhance the existing Mineral Resource Estimate (MRE) and to identify further mineralization that could potentially lead to an increase in the overall resource tonnage. The final results from this program have now been received and are being evaluated.

Piedmont Lithium and Sayona Mining will jointly incorporate these latest high-grade drill results into an updated MRE. The primary objectives of this update are to improve the resource classification, providing greater confidence in the identified lithium deposits, and to significantly increase the total resource tonnage available at NAL.

The positive outcomes of the 2024 drilling program also strongly suggest the potential for a future brownfield expansion of the production capacity at the NAL site. By demonstrating the presence of substantial additional lithium mineralization, these results support improved long-term mine planning. This enhanced planning will focus on maximizing the overall value of the NAL project and ensuring efficient and sustainable resource development over an extended mine life, potentially beyond the currently estimated 20 years.

Keith Phillips, President and CEO of Piedmont Lithium, expressed his optimism regarding the drilling results. "The positive drilling outcomes support our plans for a potential brownfield expansion at NAL, aiming to increase production capacity to meet the growing global demand for lithium with resources produced in North America," he stated. "These developments reinforce our commitment to advancing NAL as a cornerstone asset in our portfolio and contribute to our vision of becoming a leading supplier of lithium products critical to the energy transition."

The North American Lithium operation is strategically located in the Abitibi region of Quebec, a favorable mining jurisdiction known for its skilled workforce, access to sustainable hydropower, and proximity to crucial infrastructure, including rail and ports, facilitating access to the U.S. market. NAL is currently North America's largest operating spodumene mine and is a significant contributor to the region's economy.

Spodumene is a lithium-bearing mineral that is a primary source for lithium production globally. The spodumene concentrate produced at NAL is a crucial raw material for the manufacturing of lithium-ion batteries, which are essential components in electric vehicles and energy storage systems.