Exploration Update
Brisbane, Nov 16, 2015 AEST (ABN Newswire) - Sayona Mining Limited (
ASX:SYA) is pleased to announce a progress update on the East Kimberley and Itabela graphite projects.
East Kimberley, Western Australia
Planning for a first phase drilling program at the Corkwood project is now advanced. A cultural heritage survey will begin this week followed by a drilling program shortly thereafter. The Company is planning a combined diamond and reverse circulation drilling program of between 2,000 - 3,000 metres, subject to any weather constraints.
Itabela, Brazil
The Company's due diligence program is at an advanced stage and it expects to complete its formal due diligence prior to the end of the four- month option period, ending November 2015. There have been delays in receiving all the information and data required to complete the internal assessment of Itabela's resource potential. The Company has been able to demonstrate the superior product quality characteristics of the Itabela graphite, and has received a number of expressions of interest for product supply.
About Sayona Mining Limited
Sayona Mining Limited (ASX:SYA) (OTCMKTS:SYAXF) is a North American lithium producer with projects in Quebec, Canada and Western Australia. In Quebec, Sayona's assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Quebec.
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 (ASX:1MC).
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