Quarterly Activities Report
Brisbane, July 29, 2022 AEST (ABN Newswire) - Emerging lithium producer Sayona Mining Limited (
ASX:SYA) (DML:FRA) (SYAXF:OTCMKTS) is pleased to report on its Quarterly Activities and Cashflow for the June quarter 2022, highlighted by significant advances towards the recommencement of spodumene (lithium) production at the Company's North American Lithium (NAL) operation in Quebec, Canada.
Quarter Highlights
Quebec, Canada
- Sayona and Piedmont approve North American Lithium (NAL) restart, boosted by successful A$190 million placement to global institutional, professional and sophisticated investors
- Positive Pre-Feasibility Study highlights value of NAL operation, confirming technical and financial viability over 27-year life-of-mine, with pre-tax NPV (8% discount) of A$1 billion, IRR of 140% and capital payback within two years
- New lithium discoveries show potential for increased resource at Moblan Lithium Project, enhancing emerging northern lithium hub
- Positive NOVONIX battery test results reaffirm quality of Authier Lithium Project's spodumene
- Sayona Quebec releases Corporate Social Responsibility report, highlighting commitment to sustainable development, community relations and health and safety
Western Australia
- Deep diamond drilling commences at Mallina Lithium Project under earn-in partner Morella Corporation Limited
- Lithium targets identified at Sayona's Mt Edon prospect
- Maiden 60-hole air-core drilling program completed at Deep Well, targeting Hemi-style gold mineralisation.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/JB3WS6KE
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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