Sayona Mining Limited Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Brisbane, July 30, 2021 AEST (ABN Newswire) - Emerging lithium producer Sayona Mining Limited (googlechartASX:SYA) (googlechartDML:FRA) (googlechartDMNXF:OTCMKTS) has further advanced its lithium expansion in Quebec, Canada and gold exploration in Western Australia, as highlighted by its Activities Report for the June quarter 2021.

Quarter Highlights

Quebec, Canada

- Sayona Quebec's acquisition of North American Lithium (NAL) approved by Superior Court of Quebec

- Flagship Authier Lithium Project to be integrated with NAL facilities to create world-scale Abitibi lithium hub, facilitating downstream processing

- New drilling campaign underway at Authier project, with goal of expanding resource and enhancing profitability

- Expansion of Sayona's Tansim Lithium Project in Quebec following acquisition of 75 additional claims

- Completion of Piedmont investment in Sayona Quebec

Western Australia

- Earn-in agreement with Altura Mining to progress exploration of Pilbara lithium projects

- Sayona to invest A$2M in gold exploration in search for Hemi-style gold mineralisation; magnetic drill targets identified.

Post-quarter

- Testing shows Authier spodumene capable of being processed into high purity 99.99% lithium hydroxide

- A$50m raising to fund NAL acquisition and advance Abitibi lithium Hub

- Share Purchase Plan opens for registered shareholders, seeking up to A$5m

NAL Acquisition

In a major milestone for the Company, court approval was granted for the joint bid for NAL by subsidiary Sayona Quebec Inc. and Piedmont Lithium Inc. (Piedmont) (refer ASX announcement 30 June 2021).

The bid was undertaken jointly with leading US based lithium corporation, Piedmont. Sayona announced a strategic partnership with Piedmont in January this year to expedite the Company's growth plans in Quebec and to enhance access to the US markets and investors (refer ASX announcement 11 January 2021). The final leg of this partnership arrangement was completed in June following the execution of the necessary agreements regarding Piedmont's investment in Sayona Quebec Inc. (refer ASX announcement 8 June 2021)

The integration of NAL with Sayona's flagship Authier Lithium project will transform both operations and create a world-scale Abitibi lithium hub. It will also advance plans for downstream processing in Quebec, aking advantage of its environmental and economic advantages including low cost, renewable hydropower, an established mining services industry and proximity to the North American battery market.

The acquisition of NAL will be achieved through a reverse vesting order type transaction structure, which will entail the implementation of a pre-closing reorganisation of NAL.

To view the full quarterly report, please visit:https://abnnewswire.net/lnk/6WY4543Z


About Sayona Mining Limited

Sayona Mining LtdSayona 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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Contact

Brett Lynch
Managing Director
Phone: +61 (7) 3369 7058
Email: info@sayonamining.com.au



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