Completes Tansim Acquisition
Brisbane, Dec 24, 2020 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (
ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today it has completed the acquisition of the Tansim Lithium Project in Quebec, following a final payment of C$250,000 (approx. A$256,000) to Quebec Precious Metals Corporation (CVE:QPM) for the remaining 50% stake in tenements subject to an option agreement.
Highlights
- Sayona completes acquisition of Tansim Lithium Project, Quebec following final payment of C$250,000 (approx. A$256,000) to Quebec Precious Metals Corporation (TSX:QPM.V) for tenements subject to option agreement
- Project forms part of new lithium hub in Abitibi encompassing flagship Authier Lithium Project and North American Lithium (NAL) (subject to successful bid).
Located 82 kilometres south-west of Sayona's flagship Authier Lithium Project, Tansim comprises 191 mineral claims spanning 11,042 ha of prospective lithium acreage.
Drilling conducted last year comprising 11 holes for 1,129m resulted in an Exploration Target (refer note below) for the Viau-Dallaire prospect of between 5 million and 25 million tonnes, at an estimated grade of 1.2 - 1.3% Li2O (refer ASX release 19 November 2019).
Note: The potential quantity and grade of the Exploration Target is conceptual in nature and is therefore an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Sayona's Managing Director, Brett Lynch said the Company's investment showed its confidence in Tansim's potential, as highlighted by previous drilling results.
"Initial exploration at Tansim has shown its promise as a potentially highly valuable and strategically located new lithium deposit, situated near our flagship Authier project," Mr Lynch said.
"We look forward to further developing Tansim, which forms part of our planned lithium hub in Abitibi, amid rising global demand for this key battery metal."
Sayona continues to advance its lithium projects in Quebec to supply the fast-growing North American and global market, powered by the electronic vehicle (EV) and battery storage revolution.
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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