Sayona Mining Limited Stock Market Press Releases and Company Profile
Moblan Drilling Delivers Thick, High-Grade Intersections
Moblan Drilling Delivers Thick, High-Grade Intersections

Brisbane, May 27, 2024 AEST (ABN Newswire) - North American lithium producer Sayona Mining Limited (googlechartASX:SYA) (googlechartDML:FRA) (googlechartSYAXF:OTCMKTS) announced today the results from 94 new drillholes totalling 20,735 metres at its Moblan Lithium Project (Sayona 60%;Investissement Quebec 40%), demonstrating the high grade nature of this highly strategic asset.

The drilling program was designed to test extensions to mineralisation and provide in-fill data for the upgrade of Mineral Resource categories. Individual dykes have been documented and modelled comprising the Main Zone, South Zone, Inter Zone and Moleon domain. The latest drilling results include the identification of high-grade lithium mineralisation outside the Mineral Resource Estimate (MRE) pit shells, particularly in the Inter Zone Area, and support conversion of some of the Inferred resources to Indicated category within the MRE pit shells. In 2023, an additional 41 holes for 6,872 metres were also completed for geotechnical and sterilisation purposes.

The new drillhole results reinforce the project's status as the centrepiece of Sayona's Eeyou-Istchee James Bay hub in northern Quebec, and highlight its potential to expand the existing mineral resource base at Moblan.

Sayona's Interim CEO, James Brown commented: "We are delighted with the thick, high-grade drilling results at Moblan confirming it is one of the premier hard rock lithium deposits in North America. Most excitingly, it is clear there remains considerable potential for further expansion of the deposit which is open in all directions.

"The results reported today have highlighted extensions to known mineralisation and most significantly a number of new zones of mineralisation. The drilling has also identified mineralisation between known zones and MRE pit shells which has the potential to increase the mineral resource estimate.

"We are receiving and assessing further drilling results from the 2023 program and will report those to shareholders as soon as possible. Additionally, we have now commenced a further drilling program to be completed throughout 2024.

"Moblan forms the centrepiece of our James Bay lithium hub and has an extremely bright future supplying Quebec-produced lithium derivatives into the expanding North American battery and EV sector."

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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). 


James Brown
Director/Interim CEO

Andrew Barber
President Investor Relations
T: +61-7-3369-7058

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