Published: October 18, 2023 |

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Piedmont Lithium has formed a strategic partnership with the newly minted Vinland Lithium, investing $1.5 million (C$2 million) for a 19.9 percent equity stake.

The partnership will support Piedmont’s strategy to grow its hard rock lithium resource base with a focus on large targets in attractive locations.

Importantly, it furthers the company’s plans to be a major producer of lithium hydroxide for the North American market.

Through staged investments, Piedmont may acquire up to a 62.5 percent interest in Vinland’s Killick Lithium Project, which is highly prospective over some 60 kilometers of strike length.

Piedmont is also set to secure the right of first refusal on future concentrate production.

Vinland Lithium is a joint venture between Sokoman Minerals and Benton Resources, each of which holds a 40.1 percent equity interest.

The Killick Lithium Project, entirely owned by Vinland Lithium, spans 950 square kilometers and is geologically similar to Piedmont’s Carolina Lithium project.

Initial exploration, comprising 61 drill holes, indicates significant spodumene-bearing pegmatites.

What’s more, the project boasts excellent infrastructure, including proximity to paved roadways, an electrical substation, and a deepwater port.

“The Killick Lithium Project comprises a vast land package in an attractive jurisdiction. Our team has visited the site on multiple occasions and conducted extensive due diligence. Early exploration results are favorable, and the project’s location is advantageous in terms of infrastructure and logistics. The Vinland Lithium exploration team is highly experienced and will manage all aspects of the exploration program,” said Piedmont Lithium Chief Operating Officer Patrick Brindle.

“While we help fund exploration activities at Killick Lithium, our projects and operations teams remain focused on the ongoing development of our core portfolio, including the producing North American Lithium mine in Quebec and our planned operations in Ghana, Tennessee, and North Carolina,” added Brindle.

Source: Proactive Investors

Piedmont Lithium is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Their goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where they hold an economic interest. Their projects include the Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining and in Ghana with Atlantic Lithium. These geographically diversified operations will enable Piedmont to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage.

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