Sayona Doubles Quebec Lithium Resource Base
Brisbane, Mar 1, 2022 AEST (ABN Newswire) - Emerging lithium producer Sayona Mining Limited (
ASX:SYA) (DML:FRA) (SYAXF:OTCMKTS) has further enhanced its leading position in North America's lithium sector following new and upgraded Mineral Resource estimates for its flagship North American Lithium and Authier Lithium Projects in Quebec, Canada.
Following independent studies by consultants BBA Inc and SGS Canada Inc, the JORC compliant lithium resource base for the two projects has approximately doubled to 119.1 Mt @ 1.05% Li2O (refer Table 1* and resource statement notes), with the total Canadian National Instrument 43-101 Measured and Indicated Mineral Resource statement rising to 87.8 Mt @ 1.05% Li2O.
The identification of the first underground constrained resources at NAL, taking advantage of higher grade mineralisation at depth, together with significant inferred mineralisation within the open pit constrained estimation offers scope for further future resource increases under the NI 43-101 reporting code.
Sayona's Managing Director, Brett Lynch said: "This expansion is a major achievement for Sayona as we further enlarge our leading lithium resource base in North America. Since the start of 2020, we have now grown our Quebec resource base nearly six times and with further increases expected soon from Moblan.
"With lithium prices surging on the back of an increasing structural supply deficit, our upcoming definitive feasibility study for an integrated NAL-Authier operation, expected in coming weeks, is set to show significantly enhanced profitability for the benefit of shareholders."
*To view tables and figures and full resource description, please visit:
https://abnnewswire.net/lnk/YP7126XB
About Sayona Mining Limited
Sayona Mining Limited (ASX:SYA) (OTCMKTS:SYAXF) is a North American lithium producer with projects in Quebec, Canada and Western Australia. In Quebec, Sayona's assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Quebec.
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region
prospective for gold and lithium. Sayona is exploring for Hemi-style gold targets in the world-class Pilbara region, while its lithium projects include Company-owned leases and those subject to a joint venture with Morella Corporation (ASX:1MC).
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