Authier Lithium Project Work Program
Brisbane, Aug 15, 2016 AEST (ABN Newswire) - Sayona Mining Limited (
ASX:SYA) (DMNXF:OTCMKTS) ("Sayona" or the "Company") is pleased to report the details of the Authier work program which includes completion of a Pre-Feasibility Study ("PFS") and a resource definition drilling program.
The Authier project has been subject to a number of historical drilling, metallurgical testing, technical studies, including:
- More than 15,000 metres of drilling in 123 diamond holes, and 2143 lithium assays;
- Two metallurgical testing programs including a 40 tonne bulk sample;
- A base-line Environmental Impact Study; and
- A NI 43-101 Technical Report, Preliminary Economic Assessment in 2013 ("PEA").
The report was prepared as a collaboration between SGS Canada and Bumigeme. The accuracy of the costs estimates in the report were in the range of +/- 30%. The PEA demonstrated the economic and technical viability of developing the project.
The Company is now commencing a new work program to advance the project towards development and incorporates key recommendations by SGS Canada and Bumigeme from the 2013 PEA. The five month work program, includes:
1. A metallurgical study at SGS Lakefield to provide new data for process engineering studies. The will include flotation and dense media separation testing;
2. A process engineering study to identify enhancements and optimisation of the process flow-sheet, and to estimate the capital and operating costs;
3. A resource definition and extension drilling program, including an updated JORC mineral resource estimate; and
4. Preparation of a Pre-Feasibility Study.
The Company also plans to commence an Environmental Impact Study which will be completed during 2017.
Corey Nolan, Chief Executive Officer, commented "The new studies will provide important technical and financial information about the project for shareholders, and supporting discussions with potential of-takers, equipment suppliers, financiers and regulatory organisations. On completion of the PFS, the Company plans to progress towards completing a Definitive Feasibility Study, Mining Licence applications, and product offtake contracts.
About Elevra Lithium Limited
Elevra Lithium Limited (ASX:ELV) (NASDAQ:ELVR) is a dual-listed lithium producer and developer, supplying a reliable, secure and sustainable source of this critical mineral at the heart of global electrification.
Headquartered in Brisbane, Australia, Elevra has a globally diversified portfolio of world-class lithium assets across Quebec, North Carolina, Ghana, and Western Australia. Elevra was formed through the merger of Piedmont Lithium and Sayona Mining.
By combining operational excellence with disciplined asset management, we strive to maximise efficiency, drive superior shareholder value, and create lasting benefits for all stakeholders.
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