Australian miner Piedmont Lithium will partner with Vinland Lithium to advance the Killick lithium project in Newfoundland, Canada.
Under the partnership, Piedmont will acquire a 19.9 per cent equity interest in Vinland for $C2 million cash and may earn up to a 62.5 per cent equity interest in the establishing Killick project.
“The Killick lithium project comprises a vast land package in an attractive jurisdiction,” Piedmont chief operating officer Patrick Brindle said.
“Our team has visited the site on multiple occasions and conducted extensive due diligence. Early exploration results are favourable, and the project’s location is advantageous in terms of infrastructure and logistics.”
Work to date on the site has included 61 exploratory drill holes, with 50 of the drill holes intersecting spodumene-bearing pegmatites. Mineralisation in surface drilling has been identified over a strike length of 2.5 kilometres.
“The Vinland Lithium exploration team is highly experienced and will manage all aspects of the exploration program,” Brindle said.
“While we help fund exploration activities at Killick, our projects and operations team 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.”
Piedmont had its Tennessee lithium project approved in July of this year,