Sayona Mining Boosts Moblan Lithium Resource

THE DRILL SERGEANT: Sayona Mining (ASX: SYA) reported an expansion to the company’s Canadian lithium resource base.

Sayona Mining released an initial JORC Mineral Resource estimate for its 60 per cent-owned Moblan lithium project (SYA 60%; SOQUEM Inc 40%), that includes maiden resources for the recent South dyke discovery.

The company said the numbers highlight the potential for its northern lithium hub in Québec’s highly prospective Eeyou Istchee James Bay region.

Sayona has now estimated a total JORC Measured, Indicated and Inferred Mineral Resource of 70.9 million tonnes at 1.15 per cent lithium oxide (Li2O) (0.25% Li2O cut‐off grade), which it claims to represent one of North America’s single largest lithium resources.

This includes higher grade tonnage opportunities with Measured, Indicated and Inferred Resource of 51.4 million tonnes at 1.31 per cent Li2O (0.55% Li2O cut‐off grade in the sensitivity analysis).

Sayona aims to further enhance the size and grade of this Resource through additional drilling, with extra drilling planned at Moblan.

“Speed and tonnes are crucial and with our North American Lithium operation in production, we are now bringing significant added resources to the market,” Sayona Mining managing director Brett Lynch said in the company’s ASX announcement.

“Moblan now represents one of the single largest lithium resources in North America, justifying our move to fast‐track a major drilling program that has delivered a resource within just a year of acquisition.

“Sayona already has the leading advanced lithium resource base in North America and this latest expansion further entrenches our competitive advantage, particularly given our projects’ favourable access to infrastructure, market proximity and availability of low‐cost, sustainable hydropower.

“Together with our established Abitibi lithium hub in the south, Sayona has quickly developed two emerging centres of lithium production amid surging demand from North America’s EV and battery revolution.

“As we progress these projects from spodumene concentrate production towards downstream processing, the significance of these assets will only increase as the market scrambles for supply.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE