Update on Authier Drilling Program
Brisbane, Oct 20, 2016 AEST (ABN Newswire) - Sayona Mining Limited ("Sayona" or the "Company") (
ASX:SYA) (DMNXF:OTCMKTS) is pleased to announce an update on the first phase of diamond drilling at the Authier lithium deposit, Quebec.
The Company has drilled 3,500 metres of drilling in 16 holes. The program has successfully:
- Demonstrated the potential to increase the size of the existing JORC Resource;
- The potential to improve the confidence level of the JORC Resource categories; and
- Discovered a new parallel pegmatite 400 metres north of the main Authier pegmatite.
The drilling has intersected significant zones of spodumene mineralisation and extended the areas of known mineralisation. The Company believes the new drilling has the potential to expand the size of the existing JORC Resource, and the mineralisation remains open at depth.
A new pegmatite was discovered in a step-back drill hole (no. 10) targeting deeper mineralisation in the eastern zone of the Authier pegmatite. The new pegmatite, which does not outcrop, was intersected at shallow levels between 15 metres to 21 metres downhole depth and contained visible spodumene mineralisation. Further drilling is required to test the extent of the new pegmatite system. The new discovery highlights the potential for identifying new pegmatites within the Authier tenement package which remains under explored outside the main pegmatite resource.
Drill core is being progressively logged and sent to the laboratory for lithium analysis and the first assay results are expected shortly.
The Company is planning another phase of drilling early in 2017 targeting:
- Strike extensions to the main pegmatite body, especially in the west sector;
- The potential scale of mineralisation in the new pegmatite system recently discovered during drill hole 10; and
- Further drilling required for reserve definition purposes for a planned definitive feasibility study planned for 2017.
The Company's drilling objective is to significantly expand the size of the Authier JORC Resource and extend the mine life, and potentially the scale of a future operation. A prefeasibility study is underway to study the technical and commercial viability of the base case development scenario, and is due for completion late in 2016.
To view the release, please visit:
http://abnnewswire.net/lnk/9LS978UL
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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