Sayona Eyes Potential NAL Resource Increase
Brisbane, Sep 13, 2021 AEST (ABN Newswire) - Emerging lithium producer Sayona Mining Limited (
ASX:SYA) (DML:FRA) (SYAXF:OTCMKTS) is planning a further boost to its Abitibi lithium hub, with the potential for a significant resource expansion at the newly acquired North American Lithium (NAL) mine in Quebec, Canada.
Extensive diamond drilling completed in 2019 is being integrated with other previous drill results which are being audited, with the potential to fast-track an increased resource estimate and the resumption of operations at NAL.
Consultants BBA Inc. have been engaged to produce an updated Canadian NI 43-101 study of NAL's resource base with subsequent conversion to Australia's JORC standard by year-end, as the basis of a scoping study for the production of spodumene (lithium) concentrate from 2023.
In 2017, NAL had a total foreign mineral resource estimate of 39.3 million tonnes @ 1.04% Li2O, up 18% from earlier studies (refer Table 1* for details and Cautionary Statement). Subsequent drilling has shown the potential for a resource expansion, including results for some 42 holes of around 12,000m which were completed during 2019 and which are being validated for inclusion into the drill database for the first time.
Sayona's Managing Director, Brett Lynch commented: "Based on the extra drilling conducted since 2017, we anticipate the potential for a significant upgrade to the NAL resource base, which we aim to deliver before year-end.
"This only adds to the opportunity at NAL, which is the centre of our expanding Abitibi lithium hub supported by our Authier and Tansim Lithium Projects.
"Our Quebec team is now on-site at NAL and progressing the feasibility study to allow us to successfully resume operations. We look forward to quickly getting NAL back into production, becoming North America's leading lithium operation and supporting its clean energy revolution."
NAL Resources and Reserves Estimates
In 2017, NAL completed a NI 43-101 Technical Report with an effective date of 24 August 2017 (refer Tables 1 and 2 in link below).
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/C95HJ2J4
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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