Sayona Mining Ltd (ASX:SYA) Annual Report to Shareholders

Brisbane, Oct 10, 2019 AEST (ABN Newswire) - Sayona Mining Ltd's (ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) Authier Lithium Project (Authier) is a hard rock spodumene lithium deposit scheduled for development as an open cut mine initially producing a 6% Li2O spodumene concentrate, the source of high grade, low contaminant lithium carbonate.

An updated JORC Ore Mineral Resource and Reserve statement, reported in September 2018, has identified a Total Resource of 20.94 million tonnes at 1.01% Li2O, and a Proved Reserve of 12.1 million tonnes at 1.00% Li2O.

The key attraction of the project is its near-term development potential.

The Company has completed a DFS which confirmed the project's potential to become a sustainable and profitable new lithium mine. This was undertaken on the basis of a daily production limit of 2,000 t, as per the previously planned regulatory pathway.

However, the DFS is now being reviewed under a revised regulatory pathway, as announced in March 2019. The new proposed daily production limit of 2,600 t, a 30% increase on the previous limit, will position the project to pursue downstream processing opportunities.

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About Elevra Lithium Limited

Elevra Lithium Limited is a North American lithium producer (ASX:ELV) (NASDAQ:ELVR) OTCMKTS:SYAXF) with projects in Quebec, Canada, United States, Ghana and Western Australia. In Quebec, Elevra's assets comprise North American Lithium (100%) and a 60% stake in the Moblan Lithium Project in Northern Quebec. In the United States, Elevra has the Carolina Lithium project (100%) and in Ghana the Ewoyaa Lithium project (22.5%) in joint venture with Atlantic Lithium. In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.

   

Contact

Brett Lynch Managing Director Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au