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Gold/Mining/Energy : Rare Earth Elements and Exotic Metals

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To: LoneClone who wrote (22528)5/13/2024 1:56:40 PM
From: LoneClone  Read Replies (1) of 22692
 
Sayona Mining/Piedmont Lithium: New high-grade zones discovered at North American Lithium

ca.finance.yahoo.com

Sayona Mining
Sun, May 12, 2024 at 9:10 p.m. PDT·3 min read

SYAXF
+1.69%

BRISBANE, Australia, May 13, 2024 (GLOBE NEWSWIRE) --

  • New drilling at North American Lithium (NAL) operation with results from 91 drillholes and wedges totalling 26,605m has identified high-grade lithium mineralisation to the north-west, north-east, south-east and below the Mineral Resource Estimate (MRE) pit shell

  • North-West Extension – New Pegmatites

    • 32.88m @ 1.72% Li2O from 269.62m in drillhole LAN-23-094

    • 19.35m @ 1.63% Li2O from 346.72m in drillhole LAN-23-095

    • 20.05m @ 1.60% Li2O from 350.75m in drillhole LAN-23-139-W1

  • Resources Area – Potential Resources Upgrade or Conversion

    • 47.50m @ 1.29% Li2O from 402.85m in drillhole LAN-23-034

    • 25.65m @ 1.56% Li2O from 320.75m in drillhole LAN-23-044

    • 43.25m @ 1.48% Li2O from 377.75m in drillhole LAN-23-053A

    • 17.95m @ 1.81% Li2O from 168.80m in drillhole LAN-23-062

    • 21.40m @ 1.43% Li2O from 46.95m in drillhole LAN-23-075

    • 57.65m @ 1.54% Li2O from 334.85m in drillhole LAN-23-080

    • 21.90m @ 1.46% Li2O from 138.50m in drillhole LAN-23-085

    • 22.80m @ 1.36% Li2O from 106.30m in drillhole LAN-23-118

  • Additional, new pegmatites discovered to the south-east and north-east of the existing MRE

  • Assay results pending for additional 24 drillholes (4,592m) of the 2023 drilling campaign.

North American lithium producer Sayona Mining Limited (Sayona) (ASX:SYA; OTCQB:SYAXF), announces the discovery and expansion of new mineralised zones at the Company’s North American Lithium (NAL) operation (SYA 75%; Piedmont Lithium 25%) in Québec, Canada.

The newly discovered zones are poised to become a focal point for NAL’s assessment of future mining options. Initial assessments indicate the presence of high-grade lithium mineralisation outside the MRE pit shell which may represent a substantial addition to NAL’s resource portfolio and may contribute to extending NAL’s life of mine.

The 2023 drill program has successfully highlighted the potential of the NAL mine located in Québec’s highly prospective Abitibi-Temiscamingue region and confirm the possible conversion of Inferred resources to Measured and Indicated categories within the MRE pit shell. The program aimed to increase and secure the resource base of the operation while targeting a high reserve conversion rate. A selection of assays results are displayed in Table 1 and Figure 1.

Sayona’s Interim CEO, James Brown commented, “We are very excited by these new discoveries at North American Lithium which highlights the potential of this asset with high-grade mineralisation defined to the north-west, north-east, south-east and below the existing MRE. The team at NAL will now be working to update the Mineral Resource incorporating these significant results. We look forward to continue testing the mineralisation at NAL with further drilling underway."

For the full release please visit: https://www.globenewswire.com/Tracker?data=TQ2EoUKwWga1Rfkd_rwda7hTUCo7LOpBTfqDKZz9X6KICfpdE2MDP72ZhiDU5MEA7SGGLdJ2gbFKtBuWIfz88H7n0FYCF-LtpifXsXPkVacuaOx0bunE-RIhdpCgwTl8RA8U3nmJdZlTJwBPmsBOFlPKnX3_mcNcmdBth5zyOVA=

For investor information, please contact:

Andrew Barber
Investor Relations

Ph: +61 7 3369 7058
Email: ir@sayonamining.com.au

For community and local media enquiries, please contact:

Bianca Galimi
Communications and Community Relations

Ph: +1 819 856-3288
Email: bianca.galimi@sayona.ca


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 Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. Sayona also holds a 60% stake in the significant 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
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