Sayona Mining boosts mineral resource estimates for Québec lithium projects

ASX-listed Sayona Mining has announced upgrades to the mineral resource estimates for its flagship North American Lithium (NAL) and Authier spodumene projects in Québec.

After independent studies by consultants BBA and SGS Canada, the JORC-compliant lithium resource base for the two projects has approximately doubled to 119.1 million tonnes (Mt) grading 1.05% Li2O (lithium oxide), for 1.25 Mt of Li2O.

Meanwhile, the total Canadian NI 43‐101 measured and indicated resources has increased to 87.8 Mt at 1.05% Li2O, for 919,900 tonnes of contained Li2O. The inferred category currently stands at 31.2 Mt at 1.07% Li2O for 334,200 tonnes Li2O.

The resource update encompasses the first underground constrained resources at NAL, taking advantage of higher grade mineralisation at depth. NAL is comprised of a producing lithium mine and concentrator located just 25 km from the Authier project in Southern Québec.

Together with significant inferred mineralisation within the open pit constrained estimation at NAL, this offers scope for further future resource increases under the NI 43‐101 reporting code, Sayona said.

“This expansion is a major achievement for Sayona as we further enlarge our leading lithium resource base in North America. Since the start of 2020, we have now grown our Québec resource base nearly six times and with further increases expected soon from Moblan,” Sayona’s managing director Brett Lynch said.

“With lithium prices surging on the back of an increasing structural supply deficit, our upcoming definitive feasibility study for an integrated NAL‐Authier operation, expected in coming weeks, is set to show significantly enhanced profitability for the benefit of shareholders.”