Sayona Mining Limited (SYAXF) New High-Grade Zones Discovered at North American Lithium

North American lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS: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 Quebec, 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 Quebec'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."

North-East Area- New Discovery

Drillholes LAN-23-069 and LAN-23-070 revealed a newly discovered zone at the NE of the currently known mineral resources. Located approximately 300m NE of the SE edge of the ultimate MRE pit shell, the zone strikes NW-SE and show a potential lateral continuity of 450m.

Results include 17.00m @ 1.54% Li2O from 307.00m in drillhole LAN-23-069, and 14.40m @ 0.73% Li2O from 332.40m in drillhole LAN-23-070. The mineralisation takes the form of substantially thick undeformed pegmatite dykes hosting 15-25% spodumene. The true dip of the dykes cannot be determined at the moment and further drilling is required to identify continuity of the dykes towards the surface.

In the North-East Area, results from 21 new drillholes totalling 7,029 metres were available for this release. Intervals above 0.6% Li2O over 2.0m are illustrated in Table 2a*.

North-West Area - New Pegmatites

Drillholes LAN-23-094, LAN-23-095, LAN-23-102, LAN-23-139, LAN-23-139-W1 and LAN-23-149 confirm the expansion potential of the newly discovered North-West Zone1 at the NW of the currently known mineral resource. This new high-grade mineralisation is located along the north-west margin of the NAL deposit, outside the current ultimate pit shell model.

While initial discovery drill holes reported values of 22.20m @ 1.52% Li2O from 225.55m and 68.30m @ 1.58% Li2O from 253.55 in hole LAN-23-032, as published in November 2023, additional drill holes confirmed the high potential of the newly discovered zone, reporting values of 32.88m @ 1.72% Li2O from 269.62m in drillhole LAN-23-094 and 19.35m @ 1.63% Li2O from 346.72m, followed by 21.57m @ 1.35% Li2O from 380.30m in drillhole LAN-23-095.

In the North-West Extension area, results from 14 new drillholes totalling 4,756 metres were available for this release. Intervals above 0.6% Li2O over 2.0m are illustrated in Table 2b*.

South-East Extension - New Pegmatites

Drillholes LAN-23-089, LAN-23-106a and LAN-23-120 confirm the extension of the main dykes to the SE of the currently known mineral resource. Several near-surface pegmatite dykes were identified in the area, with values up to 8.70m @ 1.74% Li2O from 16.55m and 7.05m @ 1.70% Li2O from 142.35m in drillhole LAN-23-089; 9.70m @ 1.03% Li2O from 40.30m in drillhole LAN-23-106a, and 16.90m @ 0.73% Li2O from 185.80m in drillhole LAN-23-120. Further drilling is necessary to define these dykes to the SE.

These results show the potential for an extension of the pit shell to the SE.

In the South-East Extension area, results from 24 new drillholes totalling 7,002 metres were available for this release. Intervals above 0.6% Li2O over 2.0m are illustrated in Table 2c*.

Resources Area (Central) - Potential Upgrade and/or Conversion

Numerous new drilling results confirm the potential for upgrading and converting Inferred resources into the Measured and/or Indicated categories within the MRE pit shell. Results confirm the continuity of the mineralisation, and an update of the resources estimate should be completed in the near future.

This conversion drilling is anticipated to positively contribute to ore reserves at the NAL operation.

In the Resources Area (Central), results from 32 new drillholes totalling 7,817 metres were available for this release. Intervals above 0.6% Li2O over 2.0m are illustrated in Table 2d*.

NAL comprises a contiguous group of 42 mineral titles (41 claims, one mining lease) spanning 1,493 hectares, situated near La Corne township in Quebec's Abitibi-Temiscamingue region. NAL also owns 25% interest in the adjacent Vallee lithium claims. The operation has a lithium mine and concentrator, with production of spodumene concentrate having recommenced in March 2023. The project lies 60 kilometres north of the city of Val d'Or, a major mining service centre, with access to road and rail infrastructure together with skilled labour.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/W5WV9DBP

James Brown 
Director/Interim CEO
E: info@sayonamining.com.au

Andrew Barber
President Investor Relations
T: +61-7-3369-7058
E: ir@sayonamining.com.au

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