Quarterly Activities Report
Brisbane, April 28, 2023 AEST (ABN Newswire) - North American lithium producer Sayona Mining Limited (
ASX:SYA) (DML:FRA) (SYAXF:OTCMKTS) has produced the first lithium at its flagship North American Lithium (NAL) operation in Quebec, Canada, becoming North America's leading hard rock lithium producer, as highlighted in this Quarterly Activities and Cashflow Report for the March quarter 2023.
Quarter Highlights
Quebec, Canada
- First commercial grade spodumene (lithium) concentrate produced at NAL operation
- NAL restart achieved on time and within budget, making Sayona North America's leading hard rock lithium producer
- Large scale drilling program planned with Jourdan Resources of over 50,000m at NAL and Jourdan's adjacent Vallee Lithium Project (earn-in claims)
- C$50 million capital raising (flow-through shares) to advance Quebec lithium projects
Western Australia
- Approvals obtained for drilling campaign at Mallina Lithium Project; statutory and heritage approvals secured for Tabba Tabba Project
Post-Quarter
- Definitive Feasibility Study (DFS) confirms NAL value with A$2.2B NPV (8% discount)
- Major resource expansion for Moblan Lithium Project, with estimated Measured, Indicated and Inferred Resource of 51.4 Mt @ 1.31% Li2O (sensitivity analysis at 0.55% Li2O cut-off grade), representing one of the single largest lithium resources in North America.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/13KT815R
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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