MONTRÉAL, June 19, 2024 (GLOBE NEWSWIRE) -- North American lithium producer Sayona Mining Limited (“Sayona”) (ASX:SYA; OTCQB:SYAXF) announced today the results from 36 new drillholes totalling 8,803 metres at the Company’s North American Lithium (NAL) operation (Sayona 75%; Piedmont Lithium 25%) in Québec, Canada, demonstrating the high-grade nature of this strategic asset.
All the drilling results from the 2023 exploration program are now complete, validated and released and the first results from the 2024 exploration drilling program, which is currently underway, are reported in this release. The 2023 drill program has been a successful in demonstrating the potential to increase the mineral resource base at NAL. The 2023 drill program was designed to test extensions to mineralisation and provide in-fill data for the upgrade of Mineral Resource categories. The latest drilling results include the identification of high-grade lithium mineralisation outside the Mineral Resource estimate (MRE) pit shells, particularly in the North-West and South-East extensions, and support potential conversion of some of the Inferred resources to Indicated category within the MRE pit shells.
Sayona’s Interim CEO, James Brown commented: “We are delighted to have another strong set of drilling results from North American Lithium which continue to highlight the superb quality of this mine.
“The results reported today have shown that mineralisation continues outside of the existing MRE pit shells so the next key step will be to complete a recalculation of the MRE to include recent drilling.
“Additionally, we will also complete a further 30,000 metres of drilling throughout 2024 to better understand the full potential of the NAL mineralisation.”
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About Sayona Mining
Sayona Mining Limited is a North American lithium producer (ASX:SYA; OTCQB:SYAXF), with projects in Québec, Canada and Western Australia.
In Québec, Sayona’s assets comprise North American Lithium together with the Authier Lithium Project and the Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. Sayona also holds a 60% stake in the Moblan Lithium Project in northern Québec.
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.
For more information, please visit us at www.sayonamining.com.au
The original version of the press release is available at the following link: https://clients3.weblink.com.au/pdf/SYA/02818888.pdf
References to Previous ASX Releases
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and all material assumptions and technical parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
Competent and Qualified Person Statement
The information in this announcement relating to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Mr. Carl Corriveau, PGeo, VP Exploration of Sayona, Mr Alain Carrier, PGeo, independent consultant (InnovExplo) and Mr Ehouman N’Dah, PGeo, Exploration Manager of Sayona who are all members of the Quebec Order of Geologists, a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and are Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr Carrier, Corriveau and N’Dah consent to the inclusion in this release of the matters based on the information in the form and context in which they appear.
Forward Looking Statements
This press release contains certain forward-looking statements. Such statements include, but are not limited to, statements relating to "reserves" or "resources". Forward-looking statements are based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond Sayona’s control. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such forward-looking statements.
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