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 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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