
April 16, 2023
North American lithium producer Sayona Mining Limited (ASX:SYA; OTCQB:SYAXF) has significantly expanded its Canadian lithium resource base, with an initial JORC Mineral Resource estimate for its Moblan Lithium Project (SYA 60%; SOQUEM Inc 40%), including maiden resources for the South dyke discovery, highlighting the potential for its northern lithium hub in Québec’s highly prospective Eeyou Istchee James Bay region.
Highlights
- Major resource expansion for Sayona’s Moblan Lithium Project, with Measured, Indicated and Inferred Resource of 51.4 million tonnes @ 1.31% Li2O representing one of North America’s single largest lithium resources (sensitivity analysis at 0.55% Li2O cut‐off grade)
- Flexibility for higher tonnage production, with estimated Measured, Indicated and Inferred Resource of 70.9 million tonnes @ 1.15% Li2O (0.25% Li2O cut‐off grade)
- Over 60,000m of planned drilling anticipated to further expand size and grade of project, with added potential from recently acquired adjacent Troilus claims.
Since acquiring Moblan in October 2021 in partnership with SOQUEM (a wholly owned subsidiary of Investissement Québec), approximately 37,700 metres of diamond core drilling has been conducted at the project. Sayona has now estimated a total JORC Measured, Indicated and Inferred Mineral Resource of 70.9 million tonnes @ 1.15% Li2O (0.25% Li2O cut‐off grade) which represents one of North America’s single largest lithium resources.
This includes higher grade tonnage opportunities with Measured, Indicated and Inferred Resource of 51.4 million tonnes @ 1.31% Li2O (0.55% Li2O cut‐off grade in the sensitivity analysis). Sayona aims to further enhance the size and grade of this resource through additional drilling, with 60,000m of extra drilling planned at Moblan.
Opportunities exist to expand and build the Mineral Resources proximal to the known Moblan and Moleon deposits, where exploration has indicated that lithium mineralisation may extend to the north, northeast and at depth. Additional diamond drilling could potentially upgrade some of the Inferred mineral resources to the Indicated category and identify additional mineral resources down‐plunge and in the vicinity of the currently identified mineralisation, including extra drilling between the Main/Inter and Moleon dyke groups.
Sayona’s acquisition of lithium claims from Troilus Gold Corp. (TSX:TLG) (refer ASX release dated 17 November 2022), located adjacent to Moblan, offers further potential for eastwards extensions of the Moblan mineralisation, as well as regional targets in the emerging lithium district. The Moblan properties remain largely unexplored outside known mineralised zones.
Meanwhile, Sayona is also advancing required characterisation works and studies including geomechanical characterisation (rock mechanics for pit design), geotechnical studies (soils), mine design, optimisation and scheduling, metallurgical testing, studies and design, environmental characterisation, infrastructure and power requirements, as it progresses Moblan’s upcoming feasibility study. This includes the necessary permitting and environmental studies, which are progressing in line with regulatory requirements.
Sayona is committed to engaging local communities as the project progresses, including First Nations and other local community members, consistent with its proactive stakeholder engagement approach.
Sayona’s Managing Director, Brett Lynch, welcomed the latest expansion of the Company’s North American lithium resource base.
“Speed and tonnes are crucial and with our North American Lithium operation in production, we are now bringing significant added resources to the market. Moblan now represents one of the single largest lithium resources in North America, justifying our move to fast‐track a major drilling program that has delivered a resource within just a year of acquisition,” Mr Lynch said.
“Sayona already has the leading advanced lithium resource base in North America and this latest expansion further entrenches our competitive advantage, particularly given our projects’ favourable access to infrastructure, market proximity and availability of low‐cost, sustainable hydropower.
“Together with our established Abitibi lithium hub in the south, Sayona has quickly developed two emerging centres of lithium production amid surging demand from North America’s EV and battery revolution. As we progress these projects from spodumene concentrate production towards downstream processing, the significance of these assets will only increase as the market scrambles for supply.”
Moblan’s mineral resource covers an area of 2,500m strike length and 900m width, extending to a depth of 350m below surface. The mineralisation model consists of 21 lithium pegmatite dykes modelled as the Main dykes, 20 as the South dykes, 17 as the Inter domain and 17 as the Moleon dykes, for a total of 75 lithium pegmatite dykes in the project’s mineralisation model (Figure 1). The 2023 Mineral Resource Estimate (MRE) is based on diamond drill holes (DDHs) drilled between 2002 and 2022 and trenches sampled between 2004 and 2009. The database includes assay data from 366 surface drill holes and 10 surface trenches (Figure 2).
Click here for the full ASX Release
This article includes content from Sayona Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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18h
Pilbara Minerals Boosts Annual Production Despite Challenging Lithium Market
Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) has released results for its 2025 fiscal year.
For the lithium producer, the highlight was its record spodumene concentrate production, which it said reflects its “strong operational performance.” Its output reached 754,600 tonnes for the period, up 4 percent.
Pilbara attributes the production increase to its P680 and P1000 expansion projects.
“With the P680 and P1000 expansions now complete, and our ore sorting technology fully integrated, we’ve established a leading processing platform,” commented Managing Director and CEO Dale Henderson.
Sales saw a 7 percent uptick year-on-year to come in at 760,100 tonnes.
Profit-wise, Pilbara's annual revenue was AU$769 million, falling almost 39 percent short of last year’s AU$1.25 billion. Underlying EBITDA also saw a significant decrease, down 83 percent at AU$97 million.
After tax, Pilbara’s underlying net loss totalled AU$88 million.
“Despite the softer pricing environment, our balance sheet remains robust,” noted Henderson, adding that the lithium market's long-term fundamentals "remain intact," with potential tightness ahead.
“While market volatility may persist in the near term, our confidence is anchored in what we control — disciplined execution, operational excellence and strategic agility,” he added, key points he also discussed in his presentation at Fastmarkets' Lithium Supply & Battery Raw Materials event, held this past June in Las Vegas.
Pilbara ended the fiscal year with approximately AU$1 billion in cash and AU$1.6 billion in total liquidity.
Several transactions by the company have made headlines over the past year, including its AU$560 million acquisition of Latin Resources, which was approved in January. Through the deal, Pilbara added Latin Resources' Salinas lithium project to its portfolio; the asset is in Minas Gerais' Bananal Valley area, 10 kilometres outside the town of Salinas.
Salinas has been renamed Colina, and an updated resource estimate was released on August 25.
With both the Colina and Fog's Block deposits included, the measured, indicated and inferred resource now stands at 77.7 million tonnes grading 1.24 percent lithium oxide, containing 948,900 tonnes of lithium oxide.
In June, the company also published an updated resource estimate for its flagship Pilgangoora operation. Tonnage increased by 10 percent from the previous report, while contained lithium oxide rose 23 percent.
The resource now stands at 5.7 million tonnes of lithium oxide grading 1.28 percent lithium oxide.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Global Lithium Resources Receives Mining Lease for Manna Lithium Project
Western Australia’s Minister for Mines, Petroleum and Exploration has granted Global Lithium Resources’ (ASX:GL1) flagship project Manna lithium project mining lease M28/414.
In a Monday (August 25) release, Global Lithium said that the mining lease covers a term of 21 years pursuant to the Mining Act 1978.
“The granting of this mining lease is a transformative moment for (us) and (our) shareholders,” commented Managing Director Dr. Dianmin Chen. “This achievement, coming so soon after the successful native title mining agreement, validates our focused strategy and the diligent work of our team and partners.”
Global Lithium announced its signing of a native title agreement with the Kakarra Part B Native Title Group on August 13, underscoring its dedication to responsible mining and its commitment to ensuring and delivering benefits to the community concerning Manna.
Located in Eastern Goldfields and just 100 kilometres east of Kalgoorlie, Manna currently contains a mineral resource of 51.6 million tonnes at 1.0 percent lithium oxide.
The company said that it remains the third largest lithium resource in its region and holds potential to become a significant spodumene concentrate producer.
In its Diggers and Dealers presentation published August 1, it was specified that Manna is currently focusing on minimising production and operational costs by refining the processing flowsheet, optimizing capital expenditure through strategic design and procurement and enhancing mine design and scheduling.
Global Lithium also highlighted that it is leveraging advanced technologies and detailed process analysis.
In addition, the mining lease also “significantly de-risks” the project and assists in its steps towards a final investment decision (FID).
Following the agreement signing and the mining lease grant, the company said that it is now fully focused on finalising an optimised definitive feasibility study (DFS) for Manna.
“The DFS remains on track for the end of the 2025 calendar year … We are also pursuing discussions with potential development partners.”
Should the company follow its projected schedule and secure pending approvals, Manna is expected to be shovel-ready between 2026 to 2027.
Shares of Global Lithium went up 10 percent on the day of the mining lease announcement compared to its previous close of AU$0.20 on Friday (August 22), closing at AU$0.22 on Monday.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Livium and Mineral Resources Form Joint Venture to Advance LieNA Technology
Livium (ASX:LIT) and Mineral Resources (ASX:MIN,OTC Pink:MALRF) said on Monday (August 11) that they have agreed to a 50/50 joint venture regarding the LieNA lithium-processing technology.
LieNA, the joint venture entity, was formerly a subsidiary of Livium, the owner of the intellectual property for the LieNA technology — an innovative process designed to recover lithium from spodumene.
The joint venture's formation comes after the completion of Stage 1A activities under a joint development deal. The companies first began working together in August 2023, and agreed to additional Stage 1A work in January.
At the time, Livium and Mineral Resources said the work would include the assessment of alternate commercialisation pathways for the technology, and the selection of the preferred lithium product for LieNA's development.
The aim of the joint venture will be to commercialise the LieNA lithium-processing technology by issuing licences to third parties, with the next step on that path being to set up a demonstration plant. However, the companies note that current lithium market dynamics "do not support the economic construction and funding of the plant."
As a result, they have extended previous deadlines for the demonstration plant.
The partners intend for the demonstration plant to be the first licencee for the LieNA technology, and Mineral Resources can elect to independently fund, develop and operate the plant.
The licence will apply to current and future Mineral Resources projects, with the company receiving a reduced royalty rate in recognition of being the first to adopt the process.
Livium CEO and Managing Director Simon Linge emphasised that although the lithium market is currently in the midst of a "cyclical downturn," fundamental drivers like electrification and decarbonisation are in place.
“With our immediate priority being to scale our recycling business, we will now take the opportunity, with MinRes, to explore options to realise short term value or alternatively preserve medium-term value from the LieNA technology," he outlined in the company's press release.
Mineral Resources was positive on LieNA's progress so far and its future impact.
"We firmly believe the technology has a role to play in the future of lithium processing and are focused on working together to convert the strong technical delivery achieved to date into commercial outcomes," the firm said.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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