Basic Materials

Further expansion at Authier likely: Sayona

Wed 01 Dec 21, 3:00am (AEST)
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Key Points

  • Findings from the first 22 holes available.
  • There’s potential for a further resource expansion at this key project.

Emerging lithium producer Sayona Mining (ASX: SYA) has completed a new drilling program at its Authier Lithium Project in Québec.

The company’s managing director Brett Lynch believes the latest round of drilling at Authier suggests there’s potential for a further resource expansion at this key project.

The company completed a 25 hole, 3908-metre diamond drilling campaign, with findings from the first 22 holes available.

It’s understood one of the holes, located west of the Authier resource, recorded an intercept of nine metres at 1.46% lithium oxide.

With additional exploration drilling planned across the company’s Québec projects in the year ahead, the company expects to increase its lithium asset base to support North America’s accelerating decarbonisation drive.

It’s been a busy year for Sayona with the new drilling program following the recently announced the completion of its acquisition of North American Lithium with its strategic partner, Piedmont Lithium Inc (PLL), through its subsidiary Sayona Québec.

North American Lithium comprises 19 contiguous claims covering 582.31 ha, situated in La Corne township in Quebec’s Abitibi-Témiscamingue region. The project lies 60km north of the city of Val d’Or, a major mining service centre, and in proximity to Sayona’s Authier Lithium Project (Authier).

In September, Sayona entered into an agreement to acquire the Moblan Lithium Project (Moblan) in the Eeyou-Istchee James Bay region of Northern Québec.

A month later Sayona announced it had completed the acquisition of Moblan for US$86.5 million following a successful $100m capital raising.

Written By

Mark Story

Editor

Mark is an award-winning investigative financial journalist and editor who started his career working for Marathon Oil in London. He has a degree in politics/economics, a diploma in journalism and has completed the Institute of Directors course. Mark has worked on 70-plus newspapers and financial publications across Australia, NZ, the US, and Asia including: The Australian Financial Review, Money Magazine, Australian Property Investor and Finance Asia. Mark is passionate about improving the financial literacy of all Australians through the highest quality content.

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