Sayona Mining Limited (SYAXF) NAL Unveils Further High-Grade Lithium Results
Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) is pleased to announce the final results from its 2024 drilling campaign at the North American Lithium (NAL) operation in Quebec, Canada (Sayona 75%; Piedmont Lithium 25%).
The results confirm the large tonnage, high-grade potential of this strategic lithium asset and further enhance the resource outlook.
- The latest results encompass 36 drill holes totalling 16,601.80 meters, with key highlights including:
o North-East Area - New Discovery
- 35.00m @ 1.45% Li2O from 291.00m in drillhole LAN-24-280
- 16.40m @ 1.51% Li2O from 305.35m in drillhole LAN-24-271
o North-West Extension - New Pegmatites
- 15.20m @ 1.75% Li2O from 359.95m in drillhole LAN-24-234
- 18.10m @ 1.74% Li2O from 289.85m in drillhole LAN-24-279
- 13.95m @ 1.54% Li2O from 372.00m in drillhole LAN-24-274
- 15.90m @ 1.40% Li2O from 631.35m in drillhole LAN-24-268
With all assay results from the 2024 drilling campaign now validated and released, Sayona has successfully confirmed the extension of high-grade lithium mineralisation, paving the way for potential resource expansion and category upgrades. See Table 1* for all drillholes intercepts with Metal Factor greater than 10.
Strategic Implications & Resource Growth
The 2024 drilling program, initiated in February 2024, focused on extending known mineralisation and enhancing resource categorisation. The campaign successfully identified significant high-grade lithium occurrences outside the existing Mineral Resource Estimate (MRE) pit shells. These findings provide compelling evidence for the potential upgrade of Inferred resources to the Indicated category, representing a significant advancement for NAL. As the largest producer of lithium in North America, Sayona Mining is uniquely positioned to capitalise on these resource expansions which further strengthen the case for a potential brownfields expansion of production.
Sayona's CEO, Lucas Dow, commented, "We are thrilled with the outstanding drilling results achieved throughout the 2024 drilling program. These reaffirm NAL's position as a premier lithium asset in North America. The discovery of new high-grade mineralisation in both the North-East and North-West extensions strengthens our confidence in NAL's future resource growth and operational expansion potential."
"With the completion of this highly successful drilling campaign, we are now focused on incorporating these results into our upcoming Mineral Resource Estimate update. This will provide a clearer picture of the project's long-term potential and further enhance NAL's contribution to the global lithium supply chain."
Next Steps
- Incorporating the latest drilling results into an updated Mineral Resource Estimate to refine resource classification and expansion of resource tonnes.
- Completing a Scoping Study into the potential expansion of production at NAL.
- Enhancing mine planning and optimisation strategies to maximise project value and ensure efficient resource development.
- Conducting further exploration drilling to extend resource boundaries and identify additional mineralisation zones.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/O6S46R56
Andrew Barber President Investor Relations T: +61-7-3369-7058 E: ir@sayonamining.com.au
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