Quarterly Activities Report
Brisbane, July 29, 2022 AEST (ABN Newswire) - Emerging lithium producer Sayona Mining Limited (
ASX:SYA) (DML:FRA) (SYAXF:OTCMKTS) is pleased to report on its Quarterly Activities and Cashflow for the June quarter 2022, highlighted by significant advances towards the recommencement of spodumene (lithium) production at the Company's North American Lithium (NAL) operation in Quebec, Canada.
Quarter Highlights
Quebec, Canada
- Sayona and Piedmont approve North American Lithium (NAL) restart, boosted by successful A$190 million placement to global institutional, professional and sophisticated investors
- Positive Pre-Feasibility Study highlights value of NAL operation, confirming technical and financial viability over 27-year life-of-mine, with pre-tax NPV (8% discount) of A$1 billion, IRR of 140% and capital payback within two years
- New lithium discoveries show potential for increased resource at Moblan Lithium Project, enhancing emerging northern lithium hub
- Positive NOVONIX battery test results reaffirm quality of Authier Lithium Project's spodumene
- Sayona Quebec releases Corporate Social Responsibility report, highlighting commitment to sustainable development, community relations and health and safety
Western Australia
- Deep diamond drilling commences at Mallina Lithium Project under earn-in partner Morella Corporation Limited
- Lithium targets identified at Sayona's Mt Edon prospect
- Maiden 60-hole air-core drilling program completed at Deep Well, targeting Hemi-style gold mineralisation.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/JB3WS6KE
About Elevra Lithium Limited
Elevra Lithium Limited (ASX:ELV) (NASDAQ:ELVR) is North America's largest hard-rock lithium producer with a diversified portfolio of high-quality assets across Quebec Canada, the United States, Ghana and Western Australia.
Our flagship operation, the North American Lithium (NAL) mine in Quebec, Canada has successfully ramped up production of spodumene concentrate, supported by ongoing operational enhancements to increase recovery rates, throughput, and mill utilisation. Following a Mineral Resource upgrade, Elevra completed a Scoping Study for a brownfield expansion to increase NAL's annual spodumene concentrate production and reduce unit operating costs.
Complementing NAL, the Moblan Lithium Project in northern Quebec represents one of the largest undeveloped spodumene resources in North America, with a Mineral Resource of 121 Mt @ 1.19% Li2O.
Development activities are progressing with feasibility studies targeting a large-scale, long-life operation capable of supplying both domestic and international markets.
In Western Australia, Elevra holds an extensive portfolio of lithium and gold tenements, where exploration programs are advancing to unlock additional growth opportunities. Meanwhile, in the United States, our Carolina Lithium Project offers a strategic foothold in the downstream lithium chemicals market and our project in Ghana provides a further option for future growth.
Looking ahead, Elevra is focused on strategic downstream partnerships to enable further value-added lithium production, positioning the Company to deliver a secure, sustainable supply of critical minerals to global customers. Together, these assets establish Elevra as a growth-focused supplier supporting the global energy transition.
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