Sayona Mining (ASX:SYA) has lauded the ‘significantly increased’ potential for a resource upgrade at its North American Lithium (NAL) operation in Quebec, Canada, after drilling identified a new high-grade zone of mineralisation.
The Brisbane-based company completed 57 holes — totalling 14,350m — that mapped the mineralisation to the northwest margin of the NAL deposit outside of the current pit shell model.
Those results include 30.04m @ 1.22% lithium oxide from 132.12m and 26.8m @ 1.1% lithium oxide from 133.85m
Sayona says lithium mineralisation inside the pit shell continues to show continuity and consistency in both grade and thickness, which could lead to further resource definition below the current Definitive Feasibility Study model.
Assays from an additional 152 holes, for 43,500m of drilling, are still to come as the company looks to increase its hard rock lithium resource base in the region.
Sayona’s interim CEO, James Brown, says the results are ‘hugely significant’ for the NAL operation, which delivered its first shipment of spodumene concentrate to the market in August this year.
“Notably, some of the intercepts from this recent drilling program are thicker and higher grade than any previously encountered, increasing confidence in NAL’s mine life.
We look forward to seeing the results from the remaining assays as we work to expand the NAL resource, further highlighting the importance of this operation for not only the joint venture partners but for the Abitibi-Témiscamingue region as a key source of high-grade lithium for the battery and EV revolution.”
“Some of the intercepts from this recent drilling program are thicker and higher grade than any previously encountered, increasing confidence in NAL’s mine life”
Located near the township of La Corne, the NAL operation spans 1,493 hectares and consists of 42 mineral titles, including one mining lease. It’s currently 75% owned by Sayona, while Piedmont Lithium (ASX:PLL) holds the remaining 25%.
In addition to the NAL operation, Sayona owns a 60% stake in the nearby Moblan Lithium Project, as well as a large portfolio of tenements in Western Australia’s Pilbara region prospective for gold and lithium.
Shares in Sayona were up 5.56% to $0.076 as of midday AEDT on 2 November.
Write to Oliver Gray at Mining.com.au
Images: Sayona Mining