Brisbane, Australia (ABN Newswire) - Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to announce it has commenced drilling at the Authier lithium project, Quebec.
Highlights
- Authier drilling program commenced
- Diamond drilling program of between 5,000 - 6,000 metres to upgrade the categories of mineral resources and test for extensions of the mineralisation
- Drilling to provide important geotechnical and hydrological data for the Pre-Feasibility Study
The diamond drilling program will comprise between 5,000 - 6,000 metres with the overall objectives, including:
- Converting the inferred mineral resources to measured and indicated through further drilling;
- Increasing the drill density to convert mineral resources to reserves;
- Exploring for extensions to the existing mineral resources and other potential mineralisation within the tenement package;
- Collecting geotechnical and hydrological data for incorporation in the Authier Feasibility Studies; and
- Collecting additional drill core for any additional metallurgical testing that may be required to complete a Bankable Feasibility study, planned for 2017.
The drilling program has been designed to improve the overall quality and expand on the size of its existing JORC 2012 compliant Mineral Resource estimate (Table 1, see link below). The project has more than 15,000 metres of diamond drilling in 123 holes, and 2,143 assay samples.
Corey Nolan, Chief Executive Officer, commented "The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the Pre-Feasibility Study. Once the Pre-Feasibility Study is completed, the Company plans the rapid completion of a Bankable Feasibility Study, securing off-take agreements and project financing".
To view tables and figures, please visit:
http://abnnewswire.net/lnk/Z7QB3649
About Sayona Mining Ltd:
Sayona Mining Limited (ASX:SYA) is a company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. Please visit us as at www.sayonamining.com.au
Source:
Sayona Mining Ltd
Contact:
Corey Nolan
Chief Executive Officer
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au
Source: ABN/Asia Business Newswire
(September 7, 2016 - 7:05 PM EDT)
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