http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Thu, 23 Nov 2017 13:01:07 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Sayona Mining commences drilling to complete DFS ]]> http://www.proactiveinvestors.com.au/companies/news/187125/sayona-mining-commences-drilling-to-complete-dfs-187125.html Sayona Mining (ASX:SYA) has commenced its Phase 3 drilling program at its flagship wholly owned Authier Lithium Project located in Quebec, Canada.

The diamond drilling program of up to 3,000 metres will collect up to 5 tonnes of drill core for a pilot metallurgical testing program.

The pilot program data will be used for inputs into the process plant design as part of the definitive feasibility study (DFS).

The program will also comprise of infill definition drilling within the main resource zone with the aim of reducing the current waste to ore ratio in that zone.

A potential expansion opportunity for drilling also exists in the northern pegmatite zone which intersected 7 metres at 1.36% lithium oxide from 15 metres in the last drilling program.

Finally, the program will see the completion of geotechnical drilling, which will enable finalisation of the pit wall slopes for the DFS.

The drilling and pilot metallurgy programs will be the last major work programs before completion of the DFS in early 2018.

Authier has a current Mineral Resource of 17.4 million tonnes grading 1.02% lithium oxide for 177,212 tonnes of contained lithium and an Ore Reserve of 10.2 million tonnes grading 1.02% lithium oxide for 103,725 tonnes of contained lithium.

Most recently, Sayona entered into an arrangement with Kalamazoo Resources (ASX:KZR) regarding its Pilbara gold exploration tenements.

READ NOW: Sayona Mining’s Pilbara neighbour looking for gold ]]>
Mon, 13 Nov 2017 18:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187125/sayona-mining-commences-drilling-to-complete-dfs-187125.html
<![CDATA[News - Sayona Mining’s Pilbara neighbour looking for gold ]]> http://www.proactiveinvestors.com.au/companies/news/187061/sayona-minings-pilbara-neighbour-looking-for-gold-187061.html Sayona Mining (ASX:SYA) has entered into an arrangement with Kalamazoo Resources (ASX:KZR) that allows Kalamazoo to assay its lithium samples for gold.

Kalamazoo is building a gold exploration portfolio in the Pilbara region of Western Australia.

The Sisters Project, owned by Kalamazoo, is adjacent to De Grey Mining (ASX: DEG), Segue Resources (ASX: SEG) and Sayona.

The deal between Sayona and Kalamazoo allows Kalamazoo to access soil samples collected from Sayona’s recent lithium exploration program.

Kalamazoo will assay the pulps for gold to identify areas of interest in the underexplored northern eastern portion of The Sisters tenement.

Sayona holds an option with Great Sandy Pty Ltd for the exploration rights for lithium over a tenement within The Sisters Project.

Recently, Sayona commenced preparations for upcoming field exploration for conglomerate hosted gold at its Deep Well project also located in the Pilbara region of Western Australia.

READ NOW: Sayona Mining initiates hunt for conglomerate gold in the Pilbara

Sayona’s primary strategy is to focus on completing the studies required to commence the development of the Authier Lithium Project located in Canada.

READ NOW: Sayona Mining shares surge on Chinese battery discussions ]]>
Mon, 13 Nov 2017 07:27:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187061/sayona-minings-pilbara-neighbour-looking-for-gold-187061.html
<![CDATA[News - Sayona Mining shares surge on Chinese battery discussions ]]> http://www.proactiveinvestors.com.au/companies/news/186984/sayona-mining-shares-surge-on-chinese-battery-discussions-186984.html Sayona Mining (ASX:SYA) has signed a non-binding memorandum of understanding (MoU) with leading China-based battery manufacturer, Huan Changyuan Lico Co Ltd.

Huan Changyuan, a subsidiary of the Fortune 500 company, China Minmetals Group, is a battery research, development, and production company.

The MoU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project.

Corey Nolan, CEO, commented: “The company has been exploring a number of options on how it best realises value from the Authier project.

“The alliance with Changyuan represents a timely, exciting path forward as the company moves towards completing its definitive feasibility and meeting its objective of producing first concentrates in 2019/2020, and capitalising on the projected high price environment for spodumene concentrates”.

MoU details

The MoU will support discussions exploring marketing, technical, and financial development options for the Authier lithium project including:

- Huan Changyuan purchasing up to 100,000 tonnes of spodumene concentrate per annum;
- Development partnerships for the value-adding of the concentrates into lithium carbonate and/or lithium hydroxide in either China or Canada; and
- Funding and investment opportunities for Sayona and the Authier project.

Huan Changyuan Lico Co Ltd

In 2016, Huan Changyuan produced more than 16,000 tonnes of battery cathode materials and is expanding its production capacity to 36,000 tonnes in 2018.

The main products produced include lithium cobalt oxide and lithium manganese oxide batteries, and ternary composite lithium-ion cathode materials. 

Background

Sayona’s primary strategy is to focus on completing the studies required to commence the development of the Authier Lithium Project, including the definitive feasibility study.

Authier is a near-term development project and cash-flow generation opportunity.

Sayona is also preparing to start a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

READ NOW: Sayona Mining’s shares rise on conglomerate gold opportunity in the Pilbara ]]>
Thu, 09 Nov 2017 15:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186984/sayona-mining-shares-surge-on-chinese-battery-discussions-186984.html
<![CDATA[News - Sayona Mining prepares for a new phase of drilling at lithium project in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/186911/sayona-mining-prepares-for-a-new-phase-of-drilling-at-lithium-project-in-canada-186911.html Sayona Mining Ltd (ASX:SYA) has lodged the drilling permits for the Phase 3 resource expansion drilling program at its Authier lithium project in Quebec, Canada.

The company is planning a diamond drilling program of up to 3,000 metres commencing in early November.

Sayona is currently completing an updated pre-feasibility study, due for completion in 3Q 2017, prior to the commencement of a definitive feasibility study (DFS).

Importantly, the drilling and pilot metallurgy programs are expected to be the last major work programs before completion of the DFS in early 2018.

Drilling a large sample for a pilot metallurgy program

Sayona’s primary objective of the drilling is to collect up to 5 tonnes of drill core for a pilot metallurgical testing program to be used as an input into the process plant design in the DFS.

The company will also infill drill within the main resource zone where the mineralisation is not well defined and is currently treated as waste, with the objective of reducing the waste to ore ratio.

Furthermore, Sayona will aim for a potential expansion of the northern pegmatite zone which intersected 7 metres at 1.36% lithium from 15 metres in the last drilling program.

The company is also planning to complete geotechnical drilling which will enable finalisation of the pit wall slopes for the DFS.

Exploration commencing over Pilbara conglomerate gold targets

Sayona is preparing to start a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

Last month, the company identified Fortescue aged rocks, which signal conglomerate-hosted gold potential within its Mallina Lithium Project.

The focus will be at the Deep Well area, where initial reconnaissance has identified favourable stratigraphy, including Fortescue aged rocks.

The conglomerate at Deep Well ranges from quartz pebble conglomerate to those being dominated by felsic volcanic and chert clasts.

Global investor interest in Pilbara conglomerate gold has increased recently, driven by gold discoveries made by Novo Resources (CVE:NOV), Artemis Resources (ASX:ARV) and De Grey Mining (ASX:DEG).

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Wed, 08 Nov 2017 11:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186911/sayona-mining-prepares-for-a-new-phase-of-drilling-at-lithium-project-in-canada-186911.html
<![CDATA[News - Sayona Mining’s shares rise on conglomerate gold opportunity in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/186459/sayona-minings-shares-rise-on-conglomerate-gold-opportunity-in-the-pilbara-186459.html Sayona Mining Ltd’s (ASX:SYA) shares are trading 16% higher intra-day as it readies a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

The focus will be at the Deep Well project, where initial reconnaissance has identified favourable stratigraphy, including Fortescue aged rocks with the potential for conglomerate hosted gold.

Global investor interest has increased dramatically recently, driven by gold discoveries made by Novo Resources (CVE:NOV), Artemis Resources (ASX:ARV) and De Grey Mining (ASX:DEG).

READ NEXT: Sayona Mining shares spike on conglomerate hosted gold opportunity

Earlier this month, Sayona identified Fortescue aged rocks, which signal conglomerate-hosted gold potential within its Mallina Lithium Project located in the Pilbara region of Western Australia.

The Fortescue aged rocks have specifically been identified on the 119 square kilometre Deep Well tenement application within the Mallina project.

Reconnaissance exploration was originally attempting to locate outcropping pegmatite prospective for lithium but instead identified Fortescue aged rocks along the western tenement area.

Field exploration will commence soon to better understand the geology of the area and it’s potential.

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Tue, 31 Oct 2017 14:53:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186459/sayona-minings-shares-rise-on-conglomerate-gold-opportunity-in-the-pilbara-186459.html
<![CDATA[News - Sayona Mining initiates hunt for conglomerate gold in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/186227/sayona-mining-initiates-hunt-for-conglomerate-gold-in-the-pilbara-186227.html Sayona Mining Ltd (ASX:SYA) is readying to commence field exploration for conglomerate hosted gold in Australia's hottest mining post code, the Pilbara region of Western Australia.

The focus will be at the Deep Well project, where initial reconnaissance has identified favourable stratigraphy including quartz pebble conglomerate with potential for conglomerate hosted gold mineralisation.

Interest in the region for gold has recently surged as explorers test the hypothesis proposed by Dr Quinton Hennigh of Novo Resources (CVE:NOV).

Hennigh believes that due to past geological events, a significant amount of gold is yet to be discovered.

Corey Nolan, chief executive officer, commented:

"The recent geological work at Deep Well which has identified rocks prospective for conglomerate hosted gold, displays the inherent value of the 2,000+ square kilometre tenement holding Sayona has in the Pilbara which will be fully evaluated for additional gold targets."

Details of the region

Sayona said that the 119 square kilometre tenement application has poor outcrop and basement geology is largely obscured by recent cover.

Bedrock is interpreted to be Mallina Group sediments, intruded by granites in the east.

A 15 kilometre strike extent of the target stratigraphy is within the tenement.

Volcanic rocks, including pillow basalts, flows and mafic fragmental typical of the Fortescue aged Mt Roe Basalt have been recently identified during fieldwork.

They appear to be part of a previously unrecorded portion of Fortescue rocks within the Deep Well tenement.

This stratigraphy is known to the west and south where they host conglomerate targets.

The volcanics are margined by poorly outcropping, highly weathered volcanic and quartz pebble conglomerate of uncertain age.

The only evidence of past prospecting activities identified to date is a shallow working, dug into quartz and pebble conglomerate.

Geochemistry around this area, together with regional mapping and investigation of remote sensing targets will be carried out.

Work will seek to determine the geological setting of the conglomerates identified to date and the bedrock of the greater tenement area.

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Thu, 26 Oct 2017 11:06:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186227/sayona-mining-initiates-hunt-for-conglomerate-gold-in-the-pilbara-186227.html
<![CDATA[News - Sayona advances studies at Authier lithium project in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/186067/sayona-advances-studies-at-authier-lithium-project-in-canada-186067.html Sayona Mining Ltd (ASX:SYA) is continuing to advance the environmental and mining lease work programs at its Authier lithium project in Quebec, Canada.

The company is focused on rapidly developing Authier and capitalising on the strong concentrate pricing window available for new project entrants in the short to medium term.

Sayona’s shares were trading circa 7% higher intra-day, at $0.015.

The company is currently finalising pre-feasibility study (PFS) inputs and assumptions for the definitive feasibility study (DFS), targeted for completion in the second quarter of calendar 2018.

Sayona recently completed a ten-hole drilling program for the hydrogeology study.

The information will be used to assess the quality of the groundwater and to assess the project’s potential impact on the ground water regime and quality in the area.

In addition, the data will be used to plan the pumping activities for the mine, and to provide information for the geotechnical engineering and geo-mechanics of the project.

Importantly, the program is expected to improve the understanding of the project groundwater environment and to mitigate the environmental risks attributable to the operation.

Sayona has also completed the autumn flora and fauna field survey as part of the environmental survey.

The company has created a vegetation inventory, including wetlands and species with special status, inventory of fish and fish habitat, and inventories of wildlife species with special status.

The final environmental report will be completed by the first quarter of 2018 with no major issues identified to date.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world.

READ NEXT: Sayona Mining shares spike on conglomerate hosted gold opportunity ]]>
Tue, 24 Oct 2017 12:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186067/sayona-advances-studies-at-authier-lithium-project-in-canada-186067.html
<![CDATA[News - Sayona Mining shares spike on conglomerate hosted gold opportunity ]]> http://www.proactiveinvestors.com.au/companies/news/185839/sayona-mining-shares-spike-on-conglomerate-hosted-gold-opportunity-185839.html Sayona Mining (ASX:SYA) has identified Fortescue aged rocks, which signal conglomerate-hosted gold potential within its Mallina Lithium Project located in the Pilbara region of Western Australia.

The Fortescue aged rocks have specifically been identified on the 119 square kilometre Deep Well tenement application within the Mallina project.

Reconnaissance exploration was originally attempting to locate outcropping pegmatite prospective for lithium but instead identified Fortescue aged rocks along the western tenement area.

The Pilbara region of Western Australia is currently experiencing a new gold rush for gold deposits associated with conglomerate rocks.

Global investor interest has increased dramatically recently, driven by gold discoveries made by Novo Resources Corp (CVE:NVO), Artemis Resources (ASX:ARV) and De Grey Mining Ltd (ASX:DEG).

Corey Nolan, CEO, commented

“The company is encouraged by the identification of further zones of spodumene mineralisation at Mallina, where three pegmatite systems in a 5x3 kilometre area have now been discovered, representing a large mineralised system.

“Also, recent geological work at Deep Well which has identified Fortescue Group rocks prospective for conglomerate hosted gold, displays the inherent value of the 2,000+ square kilometre tenement holding Sayona has in the Pilbara.”

The Pilbara’s new conglomerate gold rush

The Pilbara region of Western Australia is currently experiencing a new gold rush for gold deposits associated with conglomerate rocks.

Conglomerates contain mostly rounded pebbles and cobbles of quartz and other rocks laid down in streams or river beds.

The conglomerate at Deep Well ranges from quartz pebble conglomerate to those being dominated by felsic volcanic and chert clasts.

The best-known conglomerate gold deposit in the world is the Witwatersrand of South Africa that has produced >1.5 billion ounces of gold, more than one third of all of the gold produced on Earth.

Further work at Deep Well is planned in order to better understand the geology of the area and it’s potential.

New area of spodumene pegmatite identified at Mallina

At the Mallina project a new area of spodumene pegmatite has also been identified at the Area C prospect.

This area lies centrally between the Discovery and the Eastern group of pegmatites which together cover some 5x3 kilometres. 

The Area C pegmatites are intermittently outcropping along 800+ metres of strike and have been observed up to 15 metres in width.

Assay results of the five rock samples collected range up to 4.61% lithium oxide with spodumene the only observed lithium mineral.

Soil geochemistry has confirmed the anomalism at the Area C Prospect, although only two soil traverses 800 metres apart have been completed.

Further soil sampling, geological reconnaissance and interpretation is being carried out to help advance the prospect to drill stage.

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Thu, 19 Oct 2017 14:43:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185839/sayona-mining-shares-spike-on-conglomerate-hosted-gold-opportunity-185839.html
<![CDATA[News - Sayona Mining launches rights issue for lithium in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/184717/sayona-mining-launches-rights-issue-for-lithium-in-canada-184717.html Sayona Mining Ltd (ASX:SYA) will raise up to $4.9 million from a pro-rate renounceable rights issue, with the new funds to advance the company's Authier lithium project in Canada.

Patersons Securities is providing support with a partial underwriting up to $2.5 million.

The issue will be priced at $0.01, comprising 1 share for every 2 existing shares.

Use of funds

More specifically, the funds will be used for the completion of the Pre-Feasibility Study, and to undertake the Definative Feasibility study at Authier.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world, and has a strategy to move into production quickly.

READ NOW: Sayona Mining's successful lithium testwork to feed into updated PFS at Authier ]]>
Thu, 28 Sep 2017 14:46:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184717/sayona-mining-launches-rights-issue-for-lithium-in-canada-184717.html
<![CDATA[News - Sayona Mining eyes lithium-ion battery industry, to lift cash for further investigation ]]> http://www.proactiveinvestors.com.au/companies/news/184553/sayona-mining-eyes-lithium-ion-battery-industry-to-lift-cash-for-further-investigation-184553.html Sayona Mining Ltd (ASX:SYA) recently outlined revealed positive results of a downstream processing Concept Study for the production of lithium carbonate and/or lithium hydroxide.

This would provide the company with a potential opportunity to supply concentrates into high-value products used in the lithium-ion battery industry.

READ NOW: Sayona has potential to supply lithium-ion battery industry

Sayona has today outlined that it is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 28th September 2017, or earlier if an announcement is made to the market.

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Tue, 26 Sep 2017 10:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184553/sayona-mining-eyes-lithium-ion-battery-industry-to-lift-cash-for-further-investigation-184553.html
<![CDATA[News - Sayona Mining has potential to supply lithium-ion battery industry ]]> http://www.proactiveinvestors.com.au/companies/news/183213/sayona-mining-has-potential-to-supply-lithium-ion-battery-industry-183213.html Sayona Mining Ltd (ASX:SYA) has revealed positive results of a downstream processing Concept Study for the production of lithium carbonate and/or lithium hydroxide at the Authier lithium project in Quebec, Canada.

The Concept Study demonstrates that the Authier downstream project has the potential to be competitive on both capital and operating costs compared to benchmarked projects.

The study therefore confirms the opportunity to unlock value at Authier processing concentrates into high-value products used in the lithium-ion battery industry.

Adding further interest is the potential to partly finance downstream operations by the sale of spodumene concentrate in the early years whilst the permitting and downstream feasibility study are completed.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world.

Corey Nolan, chief executive officer, commented:

"The positive results from the Concept Study signals a new phase of value creation for the Authier project.

"In the short term, the company is committed to developing a low capital expenditure concentrate sales operation and capitalising on the projected high price environment for concentrates near term.

"The cash flows could then be applied to funding the equity required to construct the downstream processing plant.

"This would unlock the inherent value in the project at a time when lithium carbonate/hydroxide prices are trading near at all time price highs based on the strong demand growth for lithium-ion batteries."

Details on the study

The study evaluated the option of converting Authier’s annual spodumene concentrate into either 13,000 tonnes of lithium carbonate or 14,000 tonnes of lithium hydroxide, utilising conventional processing technology.

Sayona can then leverage off the surrounding world-class infrastructure, low energy and reagent costs.

Lithium carbonate and hydroxide are both high-value products used in the lithium-ion battery industry.

Next steps for Sayona

The next step in the project development plan is to convert Authier concentrates into lithium carbonate, complete of a Pre-Feasibility Study, permitting and site selection.

This process will run in parallel with the completion of the mining and concentrate processing Definitive Feasibility Study, and strategic partnering process.

READ NOW: Sayona Mining's successful lithium testwork ]]>
Thu, 31 Aug 2017 10:14:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183213/sayona-mining-has-potential-to-supply-lithium-ion-battery-industry-183213.html
<![CDATA[News - Sayona Mining's successful lithium testwork to feed into updated PFS at Authier ]]> http://www.proactiveinvestors.com.au/companies/news/183060/sayona-mining-s-successful-lithium-testwork-to-feed-into-updated-pfs-at-authier-183060.html Sayona Mining Ltd (ASX:SYA) has revealed recoveries over 80% and concentrate grades greater than 6% lithium have been achieved from a metallurgical testing program at the company's Authier lithium project in Canada.

The objective of the metallurgical testing was to improve the process recoveries and concentrate grades, and reduce processing operating costs.

This has been a success when compared to the February 2017 Pre-Feasibility Study (PFS) assumptions of recoveries at 80% and concentrate grades of 5.75% lithium.

The results will be incorporated into the updated PFS, along with the new JORC Resource and results of the geotechnical program.

This has the potential to significantly enhance the value and return outcomes for the Authier project.

Following this Sayona will commence the Definitive Feasibility Study, and pilot scale metallurgical testing programs.

The potential of Authier

Authier is located in an infrastructure rich region of Canada.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world, and has a strategy to move into production quickly.

This has the potential to be done by constructing a relatively low capital expenditure operation and capitalising on the projected high price environment for spodumene concentrates over the next five to ten years.

Cash flows from concentrate sales could then potentially be applied to funding the equity required to construct the downstream processing plant or an expansion of the concentrate operations.

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Tue, 29 Aug 2017 12:43:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183060/sayona-mining-s-successful-lithium-testwork-to-feed-into-updated-pfs-at-authier-183060.html
<![CDATA[News - Sayona Mining's updated PFS looks to unlock value from Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/182705/sayona-mining-s-updated-pfs-looks-to-unlock-value-from-authier-lithium-project-182705.html Sayona Mining Ltd (ASX: SYA) continues to advance work programs to unlock value from its Authier lithium project in Canada.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world, and has a strategy to move into production quickly.

This has the potential to be done by constructing a relatively low capital expenditure operation and capitalising on the projected high price environment for spodumene concentrates over the next five to ten years.

Cash flows from concentrate sales could then potentially be applied to funding the equity required to construct the downstream processing plant or an expansion of the concentrate operations.

Latest work programs

The updated Pre-Feasibility Study (PFS) work programs are nearing completion, with the update expected to be released in September.

The Updated PFS includes:

- Testing modifications to the process flowsheet to improve the metallurgical parametres;

- Undertake a value engineering review of the PFS concentrator design to identify which opportunities will be implemented into the upcoming Definitive Feasibility Study;

- Incorporating the new JORC Resource announced in May 2017. In addition, the company will incorporate a planned resource from Authier North in the new optimised mine plan;

- Incorporating new geotechnical data into the mine optimisations and improve the overall economics of the project; and

- Assess the current spodumene concentrate supply and demand environment, and long-term pricing for the Authier financial model.

The finalisation of the update including the new process flowsheet is aimed at unlocking value in the Authier project.

The PFS will form the foundations for the commencement of the Definitive Feasibility Study, and pilot scale metallurgical testing programs.

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Mon, 21 Aug 2017 13:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182705/sayona-mining-s-updated-pfs-looks-to-unlock-value-from-authier-lithium-project-182705.html
<![CDATA[News - Sayona Mining's Corey Nolan discusses lithium pathway at Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/181478/sayona-mining-s-corey-nolan-discusses-lithium-pathway-at-proactive-s-ceo-sessions-181478.html Sayona Mining Ltd's (ASX:SYA) chief executive officer, Corey Nolan, joined the Proactive's CEO Sessions in Melbourne and Sydney this week, outlining the company's lithium strategy.

Sayona remains focused on the Authier Lithium project, which is located in an infrastructure rich region of Canada.

Authier has the potential for a simple, open-cut mining operation with competitive mining costs of $2.90/tonne average LOM, with a mine life of 15 years.

ACCESS THE FULL PRESENTATION HERE ]]>
Thu, 27 Jul 2017 09:43:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181478/sayona-mining-s-corey-nolan-discusses-lithium-pathway-at-proactive-s-ceo-sessions-181478.html
<![CDATA[News - Sayona Mining Ltd advances concept study and receives new assays ]]> http://www.proactiveinvestors.com.au/companies/news/180944/sayona-mining-ltd-advances-concept-study-and-receives-new-assays-180944.html Sayona Mining (ASX:SYA) has commenced a downstream processing concept study following the successful completion of hydrometallurgical testing on lithium concentrates from its Authier lithium project located in Canada.

The study will assess the alternative processing options, process flow sheet selection, operating and capital cost estimates, financial analysis, and recommendations for the next phase of development.

The study is expected to take between 3 and 4 weeks and compliments to the current metallurgical optimisation program currently underway.

Elsewhere, Sayona has completed its 18-hole, 1,343-metre first phase drilling program at the Mallina spodumene pegmatite project in the Pilgangoora district of Western Australia.

Corey Nolan, CEO, commented: “The commencement of the concept study signals a new potential phase of value creation for the Authier project.

“In the short term, the company is committed to developing Authier as a low capital expenditure project and capitalising on the projected high price environment for concentrates over the next five to ten years.”

Downstream processing concept study

The recent test work demonstrated that the conversion of Authier lithium concentrates into traditionally extractable beta spodumene (a form of spodumene amenable to further processing) was achievable, at high conversion rates.

The results increase the confidence that battery grade lithium carbonate can be produced from Authier lithium concentrates.

Sayona has commissioned an evaluation of the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility in Quebec.

This would enhance the Authier project value, and improve the long-term competitive position of the project.

Advantages of Quebec, Canada

Quebec is uniquely positioned with a number of significant commercial and market advantages, including:

- High-quality infrastructure, including globally competitive, low-cost gas and electricity prices;
- Availability of sulphuric acid from a copper smelter located 80 kilometres away;
- Skilled, competitive cost labour force;
- Road and rail transport networks connecting to export ports;
- Supportive government that invests directly into mineral development projects (e.g. Nemaska and North American Lithium); and
- Located in close proximity to the U.S. markets including, the Tesla Giga factory in Nevada, and other planned Giga factories in the U.S.

A new supply source to China

Currently, all the world’s hard-rock lithium concentrates are imported and processed into value-added products in China.

China’s policy incentives for investment into battery manufacturing for electric vehicles and storage systems, and export tax regime for lithium products, is restricting the supply of battery raw materials to western battery manufacturers like Korea, Japan and Europe.

Sayona believes it can be a new alternative, stable source of lithium supply to China.

Mallina drill result details

A total of 18 reverse circulation drill holes for a total 1,343 metres have been completed, testing five spodumene pegmatites.

At each target, drilling has intersected pegmatite with peak assays reaching 1.62% lithium oxide.

The eastern group of pegmatites returned the broadest zones of pegmatite, with up to 19 metres downhole width.

Intercepts included up to 5 metres at 1.00% lithium oxide from 46 metres.

Petrology and other studies are being carried out to understand the drill results further

Analysis

The concept study is an important part of Sayona’s project development given the significant financial margins available by the processing of spodumene concentrates into lithium carbonate.

Sayona would be able to apply cash flows generated from future concentrate sales to funding the equity required to construct the downstream processing plant.

This would unlock the inherent value in the project at a time when lithium carbonate/hydroxide prices are trading near at all-time price highs based on the strong demand growth for lithium-ion batteries.

The current global spot price is between US$18,000-US$19,000 for 99% minimum purity.

Study results are expected in 3-4 weeks and have the potential to act as a catalyst for the stock given the ability it has to both advance and de-risk the project.

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Mon, 17 Jul 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180944/sayona-mining-ltd-advances-concept-study-and-receives-new-assays-180944.html
<![CDATA[News - Sayona Mining Ltd brings lithium across two continents to Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/180483/sayona-mining-ltd-brings-lithium-across-two-continents-to-proactive-s-ceo-sessions-180483.html Sayona Mining Ltd (ASX:SYA) is preparing to showcase its lithium assets in Australia and Canada at Proactive's CEO Sessions.

The company has a very experienced board with members part of the co-founding of Orocobre Ltd (ASX:ORE) and are directors of Altura Mining Ltd (ASX:AJM) which has a Definitive Feasibility Study on the Pilgangoora Lithium Project in Western Australia.

Broker Patersons recently applied a Speculative Buy and target three-times above the current valuation.

Find out more from Corey Nolan at Proactive's CEO Sessions.

Click below to register by email

- Melbourne: Tuesday 25th July.
- Sydney: Wednesday 26th July.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Sayona Mining (ASX:SYA): Corey Nolan
- Lithium Power International (ASX:LPI): Andrew Phillips
- Elementos (ASX:ELT): Chris Dunks
- Tyranna Resources (ASX:TYX): Bruno Seneque
- Argent Minerals (ASX:ARD): David Busch (Melbourne only)
- Bryah Resources (ASX:BYH): Neil Marston (Sydney only)

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Mon, 17 Jul 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180483/sayona-mining-ltd-brings-lithium-across-two-continents-to-proactive-s-ceo-sessions-180483.html
<![CDATA[News - Sayona Mining Ltd achieves high lithium conversion rates ]]> http://www.proactiveinvestors.com.au/companies/news/180257/sayona-mining-ltd-achieves-high-lithium-conversion-rates-180257.html Sayona Mining Ltd (ASX:SYA) has successfully completed a hydrometallurgical testing program on lithium concentrates from its flagship Authier lithium project located in Canada.

The program demonstrated that the conversion of Authier lithium concentrate into traditionally extractable beta spodumene was achievable, at high conversion rates.

The beta spodumene is a form of spodumene amenable to further processing.

Up to 96.8% of the lithium was recovered in the process from a 5.98% lithium oxide concentrate.

The results compare favourably with benchmark data generated from other hard-rock spodumene projects in Canada with similar testing conditions.

Furthermore, the results increase the confidence that battery grade lithium carbonate can be produced from Authier lithium concentrates.


Background

Sayona is focused on rapidly developing its flagship Authier Lithium Project located in Canada.

Work programs focused on enhancing the Authier project value and fast-tracking the permitting are underway.

Authier is an advanced development project and cash flow generation opportunity with positive attributes, including:

- Well studied with the completion of a PFS in February 2017 projecting a pre-tax NPV CAD$140 million and IRR 39%;
- Maiden JORC Ore Reserves: 10.2 million tonnes at 1.02% lithium oxide comprised of Proven Reserve 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide;
- Simple open-cut, truck and shovel mining operation;
- Proven process for recovery of spodumene into a saleable concentrate;
- World-class infrastructure and Quebec Government support;
- Low capital hurdle and attractive operating costs; and
- Potential to process and produce a lithium carbonate/hydroxide product through an integrated downstream processing facility at Authier.


Cashing in on carbonate

Currently, there are significant financial margins being achieved by the processing of spodumene concentrates into lithium carbonate.

The current global spot price is between US$18,000-US$19,000 for 99% minimum purity.

Sayona is evaluating the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility.

This is to enhance the project value, and improve the long-term competitive position of the project.

Quebec is uniquely positioned with a number of significant commercial and market advantages, including:

- High quality infrastructure, including globally competitive, low-cost gas and electricity prices;
- Availability of sulphuric acid from a copper smelter located 80 kilometres away;
- Skilled, competitive cost labour force;
- Road and rail transport networks connecting to export ports;
- Supportive government that invests directly into mineral development projects (e.g. Nemaska and North American Lithium); and
- Located in close proximity to the U.S. markets including, the Tesla Giga factory in Nevada, and other planned Giga factories in the U.S.

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Tue, 04 Jul 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180257/sayona-mining-ltd-achieves-high-lithium-conversion-rates-180257.html
<![CDATA[News - Sayona Mining receives broker attention and Speculative Buy ]]> http://www.proactiveinvestors.com.au/companies/news/180086/sayona-mining-receives-broker-attention-and-speculative-buy-180086.html Sayona Mining (ASX:SYA) has received a Speculative Buy from broker Patersons, with a 12-month target price of $0.043 per share, which is around three times it current valuation.

The following is an extract from the report.


A Board With Lithium Stripes

Sayona Mining Limited (SYA) is an Australian lithium developer with projects in Australia and Canada.

SYA’s board has significant experience in the development of brine and hard-rock lithium projects.

The Authier project is SYA’s flagship project, located in Quebec, Canada, with a Pre-Feasibility Study (FPS).

Authier has shown encouraging economic results with a simple (and scalable) solution to generate early cash-flows from the production of lithium concentrate targeting its first spodumene production in 2019.

We initiate coverage on SYA as a Speculative Buy with a price target of $0.043/share.


Experienced Board: SYA has experienced Board members with both past and present lithium company experience.

SYA Board members were part of the co-founding of Orocobre and are Directors of Altura Mining Limited (AJM) which has a Definitive Feasibility Study (DFS) on the Pilgangoora Lithium Project in Western Australia.

We believe the Board’s experience is key to the potential success in the execution of the Authier Project.


Authier PFS: SYA released the Authier PFS on 16 February 2017.

The PFS highlights a 15-year project with c.99ktpa of lithium concentrate at 5.75% Li2O and has a pre-tax NPV of C$140m (discounted at 8%) with a 39% IRR and a payback period of 2.2 years.


Low Capex and Quick to Production: SYA is setting up the Authier production in-line with the Quebec legislation (2,000tpd) to obtain permits faster than a larger scale project requires, which attracts lower capex (C$66m), less risk and is quicker to production, leaving the door open to scale-up in the future.


Scalable Project: Authier has c.2.2Mt@0.99%Li2O in Inferred Resources that could potentially converted to reserves to increase the production capacity of Authier.

SYA has identified that the Authier deposit is open at depth and strike, suggesting future further tonnage could be added


PFS improvements: There is potential to reduce mining cost by increasing the angle of the mining walls. As a result, the strip ratio ore would be reduced.

Also, there is scope for increasing lithium recovery and a new JORC Reserves update, which would improve the Project’s economics.


Swift Production to Lithium Concentrate: The mining and processing of lithium concentrate is a quick process relative to lithium brines production, which take an average of nine months to produce lithium carbonate.

Hence SYA has the opportunity to receive earlier cash flows thereby minimising working capital requirements for Authier.


Downstream - Potential Upside: Authier’s average production is equivalent to 13.6ktpa of lithium carbonate equivalent (LCE).

We believe once SYA proves the viability of Authier, there exist the potential to capture the downstream value by adding an extra US$60m in revenue and potentially supply LCE to the US battery factories.


Lithium Market: Recent studies indicate lithium demand will increase more than 4-5 fold to 2026.

The change is driven by the growth in new electric vehicles providing a case for LCE prices to remain high given the market could potentially experience challenges in meeting demand.


Valuation: We value the Authier Project with an NPV of A$104m discounted at 9%.

We used SYA’s FPS as a base for our valuation.

We assume a higher long term flat price of US$550/t (vs.US$515/t) for SYA’s 5.75%Li2O concentrate.


Catalyst: (1) PFS improvements by 3Q CY2017, (2) off-take agreement, (3) Bankable Feasibility Study (BFS) in CY2018 (4) project finance and 5) Project Construction 2H CY2018.

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Fri, 30 Jun 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180086/sayona-mining-receives-broker-attention-and-speculative-buy-180086.html
<![CDATA[News - Sayona Mining aims to capitalise on strong pricing window ]]> http://www.proactiveinvestors.com.au/companies/news/179940/ Sayona Mining (ASX:SYA) remains focused on rapidly developing its flagship Authier Lithium Project located in Canada.

Work programs focused on enhancing the Authier project value and fast-tracking the permitting are underway.

By developing Authier rapidly, Sayona aims to capitalise on the strong pricing window available for new project entrants in the short-to-medium term.

Work programs are being progressed to expand the project value, including hydrogeological, geotechnical, and metallurgical assessments.

Following completion of the programs, the February 2017 pre-feasibility study (PFS) will be updated, and a new Ore Reserve statement published.

This will form the basis of the definitive feasibility study which the company will anticipate completing in early 2018.


Authier highlights

Authier is an advanced development project and cash flow generation opportunity with positive attributes, including:

- Well studied with the completion of a PFS in February 2017 projecting a pre-tax NPV CAD$140 million and IRR 39%;
- Maiden JORC Ore Reserves: 10.2 million tonnes at 1.02% lithium oxide comprised of Proven Reserve 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide;
- Simple open-cut, truck and shovel mining operation;
- Proven process for recovery of spodumene into a saleable concentrate;
- World-class infrastructure and Quebec Government support;
- Low capital hurdle and attractive operating costs; and
- Potential to process and produce a lithium carbonate/hydroxide product through an integrated downstream processing facility at Authier.


Rising prices

Strong demand for the lithium products has driven concentrate prices to record levels and many industry commentators like Roskill are projected this demand to continue strong into the future.

In response to this demand, Sayona has received strong interest to supply both the Chinese and Canadian downstream converters.


Adding value with a conversion facility

Currently, there are significant financial margins being achieved by the processing of spodumene concentrates into lithium carbonate.

Sayona is evaluating the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility.

This is to enhance the project value, and improve the long-term competitive position of the project.

Quebec is uniquely positioned with a number of significant commercial and market advantages, including:

- High quality infrastructure, including globally competitive, low-cost gas and electricity prices. Electricity is sourced from renewable energy;
- Skilled, competitive cost labour force;
- Road and rail transport networks connecting to export ports;
- Supportive government that invests directly into mineral development projects (e.g. Nemaska and North American Lithium); and
- Located in close proximity to the U.S. markets including, the Tesla Giga factory in Nevada, and other planned Giga factories in the U.S.


Other project updates

A number of other initiatives are underway or planned at Authier including:

- A hydrogeology study will begin early next month to understand ground water;
- Further metallurgical test work is being completed aimed at improving processing recoveries and concentrate grades, and targeting lower operating costs;
- An update of the 2013 environmental study commenced in June; and
- At the social level, a stakeholder survey has been completed and consultations are upcoming.


Peer valuation

Currently, Sayona’s enterprise valuation (EV) per resource tonne is circa $72 and the pending resource upgrade will lower this further.

This valuation is typical of companies at the explorer level, however, the development of Authier will progress Sayona into a new class of hard rock lithium developers and miners.

Valuations of these peers range from $238 to $1186 per tonne of measured and indicated lithium resources.

This highlights the potential valuation uplift Sayona can achieve by rapidly developing the Authier project.

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Wed, 28 Jun 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179940/
<![CDATA[News - Sayona Mining expands lithium resource at Authier ]]> http://www.proactiveinvestors.com.au/companies/news/179191/sayona-mining-expands-lithium-resource-at-authier-179191.html Sayona Mining (ASX:SYA) has increased its JORC resource estimate by 21% at its flagship Authier Lithium Project located in Canada.

The expanded resource estimate follows the recently completed 4,100-metre phase 2 drilling program.

The resource now stands at 17.4 million tonnes grading 1.02% lithium oxide for 177,212 tonnes of lithium oxide with 88% of the resource now in the Measured and Indicated categories.

Corey Nolan, CEO, commented: “The expanded resource estimate will extend the mine life beyond the 13 years outlined in the February 2017 pre-feasibility study.

“The company is now focused on a number of optimisation programs to incorporate into an updated pre-feasibility study and Ore Reserve estimate.”


Resource update overview

The Authier project hosts two separate mineralised pegmatite systems including, Authier and Authier North.

The Authier North pegmatite which was drilled in early 2017, does not yet have a reported Mineral Resource estimate.

The dimensions of the Authier deposit drilled are 1,100 metres long, striking east-west, with an average thickness of 25 metres, ranging from 4 metres to 55 metres.

The size of the contained lithium oxide Mineral Resource has increased 21% since the November 2016 estimate, and the level of mineralisation within the Measured and Indicated resource categories has increased to 88% from 1%.

This new resource estimate will form the basis of an updated Ore Reserve which will be prepared as part of an updated pre-feasibility study.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed pre-feasibility study (PFS) include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.


Resource optimisation potential

Sayona believes there is further potential to optimise the main resource area including:

- Infill drilling within the main deposit where there is no resource due to lack of drilling density, especially in the east and west, and to add the resource base; and
- Converting inferred resources into a higher resource classifications by further higher density drilling.


Further expansion potential

The mineralisation remains open in all directions.

Currently, Sayona is not looking to expand the current JORC resource estimate given the current resource provides more than 20 years mine life.

However, future target areas to expand the resource could include:

- Testing for further mineralisation in the east and west strike extensions;
- Defining further mineralisation at depth; and
- Assessing the resource potential of Authier North.


Analysis

This resource upgrade both de-risks the Authier project and grows its potential to improve the base case value of the deposit, which stands at C$140 million pre-tax net present value.

The new resource will be fed into an updated PFS, which paves the way to fast-track completion of the definitive feasibility study, and finalisation of permitting and approvals.

Authier represents an advanced development project and cash flow generation opportunity for Sayona.

Work programs are in progress at Authier with upcoming news flow expected regarding:

- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades; and
- Updating the February 2017 PFS and Ore Reserve estimate.

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Wed, 14 Jun 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179191/sayona-mining-expands-lithium-resource-at-authier-179191.html
<![CDATA[News - Sayona Mining commences maiden lithium drilling at Mallina ]]> http://www.proactiveinvestors.com.au/companies/news/179117/sayona-mining-commences-maiden-lithium-drilling-at-mallina-179117.html Sayona Mining (ASX:SYA) has commenced its 30 hole, 2500 metre, maiden drilling program at the Mallina project located in Western Australia.

The program is designed to test the lithium mineralisation potential of six of the spodumene pegmatites identified at Mallina to date.

The prime focus of the program is targeting two large recently discovered pegmatite systems, including:

- Eastern No.2 Pegmatite strikes over 1,300 metres with high-grade lithium assays up to 3.55% lithium oxide; and
- Eastern No.3 Pegmatite strikes over 1,400 metres strike length with high-grade lithium to 1.95% lithium oxide.

The program is expected to be completed in early July.


Mallina Project

The Mallina project is located in the world-class Pilgangoora lithium district of Western Australia and hosts albite-spodumene pegmatite mineralisation.

Sayona has an option to acquire an 80% interest in a portfolio of new prospects totalling 871 square kilometres including the Mallina prospect.

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Tue, 13 Jun 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179117/sayona-mining-commences-maiden-lithium-drilling-at-mallina-179117.html
<![CDATA[News - Sayona Mining reveals high-grade lithium assays from Pilgangoora district ]]> http://www.proactiveinvestors.com.au/companies/news/179006/sayona-mining-reveals-high-grade-lithium-assays-from-pilgangoora-district-179006.html Sayona Mining (ASX:SYA) has assayed up to up to 3.55% lithium from rock chips at the Eastern No.2 Pegmatite, which is part of its Mallina spodumene pegmatite project in the Pilgangoora district of Western Australia.

Adding to the prospectivity, mapping at the Eastern No.3 Pegmatite has identified  pegmatite over 1400 metres in strike extent, with rock chips up to 1.98% lithium.

This fieldwork has enhanced the potential of the project.

Corey Nolan, chief executive officer, commented:

"The company is encouraged that the new results confirm the robust grade, thickness and strike extent of the new pegmatite discoveries.

"The Mallina prospect now contains two parallel pegmatite systems with more than 1000 metres of strike length each.

"Drilling will commence next week to test their potential."

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Fri, 09 Jun 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179006/sayona-mining-reveals-high-grade-lithium-assays-from-pilgangoora-district-179006.html
<![CDATA[News - Sayona Mining secures funds in share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/178358/sayona-mining-secures-funds-in-share-purchase-plan-178358.html Sayona Mining (ASX:SYA) has raised $1.5 million through a strongly supported and underwritten share purchase plan (SPP).

The company is now funded to advance the development of its flagship Authier Lithium Project located in Canada.

Three members of Sayona’s board took part in the SPP, which resulted in 47.37 million shares being allotted priced at $0.017 – the balance was allotted to the underwriter.

Sayona will be leveraged to news flow from multiple projects with a drilling campaign on the Mallina lithium project in Western Australia set to commence shortly.

The company recently received the remaining 26 diamond drill hole assays from its Phase 2 drilling campaign at Authier.

New zones of mineralisation were drilled in the eastern, western and at depth in the main Authier pegmatite and include intersections of 26 metres grading 1.26% lithium oxide.

The new results demonstrate extensions of the main pegmatite orebody by up to 150 metres to the east and 300 metres to the west, resulting in a 1,100 metre strike length.

An updated Mineral Resource estimate is being prepared and is expected in the coming weeks.

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Fri, 26 May 2017 08:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178358/sayona-mining-secures-funds-in-share-purchase-plan-178358.html
<![CDATA[News - Sayona Mining final assays expands lithium mineralisation ]]> http://www.proactiveinvestors.com.au/companies/news/177829/sayona-mining-final-assays-expands-lithium-mineralisation-177829.html Sayona Mining (ASX:SYA) has received the remaining 26 diamond drill hole assays  from its Phase 2 drilling campaign at its flagship Authier Lithium Project located in Canada.

New zones of mineralisation were drilled in the eastern, western and at depth in the main Authier pegmatite and include intersections of 26 metres grading 1.26% lithium oxide.

The new results demonstrate extensions of the main pegmatite orebody by up to 150 metres to the east and 300 metres to the west, resulting in a 1,100 metre strike length.

An updated Mineral Resource estimate is being prepared and is expected in the coming weeks.

Corey Nolan, CEO, commented: “An expanded resource will extend the mine life beyond the 13 years outlined in the February 2017 pre-feasibility study based on the 2017 Ore Reserve.”


Drill results details

The Phase 2 drilling program comprised 31 diamond drill holes for 4,104 metres and was aimed at extending mineralisation and expansion of the current JORC Mineral Resource.

Significant intersections from the final 26 diamond drill holes include:

- 26 metres at 1.26% lithium oxide from 163 metres including 15  metres at 1.42 % lithium oxide;
- 29 metres at 0.92 % lithium oxide from 227 metres including 13  metres at 1.10 % lithium oxide;
- 10 metres at 1.04 % lithium oxide from 30 metres;
- 8  metres at 1.07 % lithium oxide from 165 metres; and
- 6  metres at 1.32 % lithium oxide from 23 metres including 3 metres at 1.76 % lithium oxide.

The new holes drilled east, west and within the gap zone of the main Authier pegmatite orebody have successfully demonstrated potential extensions of the mineralisation at open-cut mineable depths.

The mineralisation remains open in all directions and further drilling will be required to test the full extent of deposit.

Additionally, new holes in the northern pegmatite have delineated a narrow and gently dipping tabular body with the potential for shallow, open-cut mineable tonnage.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed pre-feasibility study (PFS) include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

Work programs have now commenced expected to be completed within three months and include:

- Resource upgrade following the completion of the Phase 2 drilling program;
- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades; and
- Updating the February 2017 PFS and Ore Reserve estimate.


Analysis

Assay results from the Phase 2 program demonstrate the success of the extensional drilling, which will now be incorporated into the pending resource update.

An increased resource provides Sayona with the opportunity to increase Authier’s life of mine, which can lead to an increase in the current pre-tax NPV of C$140 million.

The new resource will be fed into an updated PFS, which paves the way to fast-track completion of the definitive feasibility study, and finalisation of permitting and approvals.

Authier represents an advanced development project and cash flow generation opportunity for Sayona.

The resource update which is currently pending will be highly anticipated by the market.

Significantly, the main pegmatite still remains open in all directions.

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Tue, 16 May 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177829/sayona-mining-final-assays-expands-lithium-mineralisation-177829.html
<![CDATA[News - Sayona Mining extends underwritten share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/177630/sayona-mining-extends-underwritten-share-purchase-plan-177630.html Sayona Mining (ASX:SYA) has resolved to extend its share purchase plan (SPP) which is underwritten to the amount of $1.5 million.

The closing date will now be next Wednesday 17 May, 2017 with new shares expected to be trading on 23 May, 2017.

The issue price will be determined at the issue date of new shares and will represent a 20% discount to the volume weighted average price over five days prior to the issue date.

The SPP provides eligible shareholders with the opportunity to apply for parcels of new shares in Sayona valued between $500 and $15,000.

Funds raised will be used to accelerate the development of the flagship Authier lithium project in Canada and to fund exploration activity on the Sayona’s Australian lithium projects.

Authier’s February 2017 pre-feasibility study (PFS) forecast a pre-tax net present value (NPV) of C$140 million, which notably incorporated lithium prices well below current prices.

Sayona most recently commenced work programs focused on significantly enhancing Authier’s value further.

The work programs will be completed within three months and will include drilling and metallurgy test-work among other things.

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Thu, 11 May 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177630/sayona-mining-extends-underwritten-share-purchase-plan-177630.html
<![CDATA[News - Sayona Mining to enhance value of Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/177478/sayona-mining-to-enhance-value-of-authier-lithium-project-177478.html Sayona Mining (ASX:SYA) has commenced work programs focused on significantly enhancing the value of its flagship Authier lithium project in Canada.

The new work programs will provide new technical information aimed at improving the base case economics outlined in the February 2017 pre-feasibility study (PFS).

The PFS valued Authier with a pre-tax net present value (NPV) of C$140 million, which notably incorporated lithium prices well below current prices.

The work programs will be completed within three months and will include drilling and metallurgy test-work among other things.

Corey Nolan, CEO, commented: “The company is targeting a significant improvement in the Authier value and returns, following the pending Authier resource upgrade and completion of the optimisation programs.”


Work program details

The work programs which are expected to be completed within three months, include:

- Resource upgrade following the completion of the Phase 2 drilling program;
- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades; and
- Updating the February 2017 Pre-Feasibility Study and Ore Reserve estimate.


Authier fast-track strategy

An updated PFS paves the way to fast-track completion of the definitive feasibility study, and finalisation of permitting and approvals.

The company remains focused on rapidly developing Authier and capitalising on the strong pricing window available for new project entrants in the short-to-medium term.

Authier represents an advanced development project and cash flow generation opportunity for Sayona.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed PFS include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

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Tue, 09 May 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177478/sayona-mining-to-enhance-value-of-authier-lithium-project-177478.html
<![CDATA[News - Sayona Mining confirms high grade lithium in Pilgangoora ]]> http://www.proactiveinvestors.com.au/companies/news/177409/sayona-mining-confirms-high-grade-lithium-in-pilgangoora-177409.html Sayona Mining (ASX:SYA) has recovered rock chips grading up to 3.98% lithium oxide from its Mallina Project located in the renowned Pilgangoora district of Western Australia.

Results confirm lithium mineralisation in three new zones of spodumene pegmatites, with the Main Eastern pegmatite outcropping over 1,300 metres of strike extent.

Of the 14 samples collected over the Eastern Pegmatite, the average lithium content is 1.23% lithium oxide.

Corey Nolan, CEO, commented: “The company is very encouraged by the potential scale of the new pegmatite which is demonstrating the potential for robust grade, thickness and strike extent.

“The company will work towards drill testing the targets as quickly as possible”.


Rock chip details

In total 22 rock chip samples were assayed from three pegmatites:

- Main Eastern pegmatite: 14 samples ranging up to 3.98% lithium oxide;
- North Eastern pegmatite: 5 samples ranging up to 3.16% lithium oxide; and
- Western pegmatite: 3 samples ranging up to 0.52% lithium oxide.

Widths of up to 20 metres have been observed on surface.

Exploration and permitting is being fast-tracked to allow drill testing.


Mallina Project

The Mallina project is located in the world-class Pilgangoora lithium district of Western Australia and now includes seven areas containing spodumene pegmatite mineralisation.

Further exploration will continue around the discovery areas to define drill targets.

Permitting and approvals are underway to allow drill testing of the targets as soon as possible.

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Mon, 08 May 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177409/sayona-mining-confirms-high-grade-lithium-in-pilgangoora-177409.html
<![CDATA[News - Sayona Mining discovers spodumene-bearing pegmatite in Pilgangoora district ]]> http://www.proactiveinvestors.com.au/companies/news/177200/sayona-mining-discovers-spodumene-bearing-pegmatite-in-pilgangoora-district-177200.html Sayona Mining (ASX:SYA) continues to advance exploration at its highly prospective assets in the Pilgangoora district of Western Australia

A new zone of spodumene pegmatites has been discovered, with the main body outcropping along 1300 metres in strike extent.

Widths of up to 20 metres have been observed on surface, and adding intrigue, the true thickness is currently unknown.

Corey Nolan, chief executive officer, commented:

"The company is very encouraged by the potential scale of the new pegmatite which is demonstrating the potential for robust thickness and strike length.

"The company will work towards drill testing the targets as quickly as possible."

The new area is located 5 kilometres east of the Discovery pegmatite swarm that has returned rock chip grades up to 3.47% lithium.

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Wed, 03 May 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177200/sayona-mining-discovers-spodumene-bearing-pegmatite-in-pilgangoora-district-177200.html
<![CDATA[News - Sayona Mining makes key appointment to fast-track Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/176892/sayona-mining-makes-key-appointment-to-fast-track-authier-lithium-project-176892.html Sayona Mining (ASX:SYA) has appointed Jonathan Gagne as Canadian Country Manager to fast-track the development of the Authier project in Quebec, Canada.

Key duties for Gagne include completion of the Definitive Feasibility Study, permitting and approvals.

Other tasks include assessing opportunities for off-take, studying potential to value-add to Authier’s spodumene concentrate within Quebec, and capitalise on the strong demand for lithium value-added products within the U.S. markets.

Corey Nolan, chief executive officer, commented:

"Jonathon is intimately familiar with the Authier project and its potential following his involvement in the preparation of the Preliminary Economic Assessment in 2013.

"Since Jonathon’s involvement in the project in 2012/13, Sayona has drilled an additional 8,000 metres at Authier and completed a Pre-feasibility Study, and lithium spodumene prices have soared to record levels, significantly enhancing the value of the project."


Next steps

Sayona is currently awaiting assays from the phase two drilling program at Authier.

Once all the remaining assay results from the phase two drilling are received, Sayona plans to update its JORC resource estimate.


Key findings of the recently completed PFS

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

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Wed, 26 Apr 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176892/sayona-mining-makes-key-appointment-to-fast-track-authier-lithium-project-176892.html
<![CDATA[News - Sayona Mining opens underwritten share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/176701/sayona-mining-opens-underwritten-share-purchase-plan-176701.html Sayona Mining (ASX:SYA) has today opened its share purchase plan (SPP), which is underwritten to the amount of $1.5 million.

The issue price will be determined at the issue date of new shares and will represent a 20% discount to the volume weighted average price over five days prior to the issue date.

Under the SPP, shareholders can apply for parcels of new shares valued between $500 and $15,000.

The proposed use of the funds raised under the SPP is as follows:

- To accelerate the development of the company’s Authier lithium project in Canada;
- To fund exploration activity on the company’s Australian lithium projects;
- To provide general working capital; and
- For corporate costs and the costs of the issue.

Sayona is currently awaiting assays from the phase two drilling program at Authier.

Drilling commenced in January 2017 and comprised 31 holes for 4,104 metres, which are now all complete.

Once all the remaining assay results from the phase two drilling are received, Sayona plans to update its JORC resource estimate.

Sayona is also progressing its Mallina project in the world-class Pilgangoora lithium district in Western Australia, where mapping and sampling programs have outlined a number of prospective lithium targets.

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Fri, 21 Apr 2017 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176701/sayona-mining-opens-underwritten-share-purchase-plan-176701.html
<![CDATA[News - Sayona Mining launches underwritten share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/176415/sayona-mining-launches-underwritten-share-purchase-plan-176415.html Sayona Mining (ASX:SYA) will pocket $1.5 million through an underwritten share purchase plan (SPP).

The funds will be used to accelerate the development of the Authier project in Canada.

More specifically, Sayona will allocate the new funds for:

- Resource upgrade following the completion of the Phase 2 drilling program;
- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades;
- Updating the February 2017 Pre-Feasibility Study and Ore Reserve;
- Studying the potential for producing value-added lithium carbonate and/or hydroxide; and
- Continuation of the environmental and mining lease work programs.


Plan details

Eligible shareholders can subscribe for up to $15,000 worth of new shares.

The price will be determined at the issue date of new shares under the SPP.

This will be based on a 20% discount to the volume weighted average price of Sayona shares traded on the ASX during the 5 days immediately prior to the issue date.

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Thu, 13 Apr 2017 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176415/sayona-mining-launches-underwritten-share-purchase-plan-176415.html
<![CDATA[News - Sayona Mining in ASX trading halt pending capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/176262/sayona-mining-in-asx-trading-halt-pending-capital-raising-176262.html Sayona Mining (ASX:SYA) has been granted a trading halt by the ASX.

The company requested the halt pending the release of details regarding a capital raising.

The halt will remain in place until the opening of trade on Thursday 13th April 2017, or earlier if an announcement is made to the market.

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Tue, 11 Apr 2017 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176262/sayona-mining-in-asx-trading-halt-pending-capital-raising-176262.html
<![CDATA[News - Sayona Mining receives lithium assays from phase two ]]> http://www.proactiveinvestors.com.au/companies/news/176258/sayona-mining-receives-lithium-assays-from-phase-two-176258.html Sayona Mining (ASX:SYA) has received assays from the first five diamond holes from phase two drilling at the Authier lithium project located in Canada.

The phase two drilling program has initially focused on targeting extensions of mineralisation in the western sector.

Drilling has defined new zones of high-grade mineralisation in the western sector including, 32 metres at 1.15 % lithium oxide from 165 metres.

The results also demonstrate extensions of the main pegmatite orebody up to 300 metres to the west extending the main pegmatite to 1,100 metres in strike length.

Corey Nolan, CEO, commented: “The 2017 drilling program is demonstrating the potential to expand the size of the 2016 Mineral Resource.”


Drill result details

The second phase drilling program follows a successful 3,967 metre drilling campaign in 2016 which significantly expanded the size of the Authier resource.

Drilling commenced in January 2017 and comprised 31 holes for 4,104 metres, which are now all complete.

The drilling program initially focused on targeting extensions of mineralisation in the western sector.

Significant intersections from the first five drill holes include:

- 32 metres at 1.15% lithium oxide from 165 metres including 7 metres at 1.44 % lithium oxide;
- 11 metres at 1.07 % lithium oxide from 222 metres including  5 metres at 1.42 % lithium oxide; and
- 19 metres at 1.26% lithium oxide from 224m including 9 metres at 1.69% lithium oxide.

The results have confirmed an extension of the main pegmatite orebody by 300 metres to the west within the deeper levels and 200 metres west at shallower levels.

The mineralisation remains open to the west and further drilling will be required to test the full western strike extent of the deposit.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed PFS include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.


Analysis

Assays from the first diamond holes drilled west of the main Authier pegmatite orebody have successfully demonstrated extensions of the mineralisation at open-cut mineable depths.

An expanded resource has the potential to extend the mine life beyond the 13 years as outlined in the February 2017 PFS.

Once all the remaining assay results from the phase two drilling are received, Sayona plans to update its JORC resource estimate.

Sayona believes the western sector remains highly prospective for further spodumene mineralisation

The main orebody has shown to be strongly correlated to a deep magnetic low which extends to the western tenement boundary.

Sayona believes there is no reason lithium mineralisation doesn’t extend to the western tenement boundary as the magnetic data suggests.

With the 31-hole phase two program complete, more assays are expected keeping the company leveraged to exploration based news flow in the short term.

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Tue, 11 Apr 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176258/sayona-mining-receives-lithium-assays-from-phase-two-176258.html
<![CDATA[News - Sayona Mining resumes lithium exploration at Mallina project ]]> http://www.proactiveinvestors.com.au/companies/news/174956/sayona-mining-resumes-lithium-exploration-at-mallina-project-174956.html Sayona Mining (ASX:SYA) is closing in on drill targets after resuming exploration at its Mallina project located in the world-class Pilgangoora lithium district of Western Australia.

Exploration has identified a coarse spodumene pegmatite where a recent rock assay of 3.47% lithium oxide was sampled.

Spodumene has now been identified in three main pegmatite swarms within a 1x1 kilometre area.

Submissions for the statutory approval to allow drilling have been lodged and preliminary drill programs designed.

Further geochemical sampling, to help identify mineralisation under the shallow cover which affects much of the project area will also be carried as soon as ground conditions allow.

Corey Nolan, CEO, commented: “The company is very encouraged by the continuing identification of prospective spodumene pegmatites.

“It is anticipated the planned geochemistry and geophysics will be quickly followed up by drill testing.”

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Fri, 17 Mar 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174956/sayona-mining-resumes-lithium-exploration-at-mallina-project-174956.html
<![CDATA[News - Sayona Mining secures option to expand Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/174884/sayona-mining-secures-option-to-expand-authier-lithium-project-174884.html Sayona Mining (ASX:SYA) has signed an option-to-purchase agreement to acquire a tenement along strike from its flagship Authier deposit located in Quebec, Canada.

The eastern tenement is strategically important and straddles the eastern extension of the Authier deposit.

Sayona plans on drilling the optioned tenement during the current Phase 2 drilling program.

The 4,000 metre Phase 2 program was commenced in late January to focus on the expansion of the resource following the successful drilling program in 2016 which significantly increased the resource and grade.

The 2016 drilling resulted in a 68% expansion of Authier’s contained lithium resource to 13.74 million tonnes grading 1.07% lithium oxide for 147,600 tonnes of contained lithium.

The option is exercisable anytime during the next five years, by making payments including, CAD$25,000 on signing, CAD$5,000 on each anniversary between year two and five, and CAD$75,000 on exercise of the option.

Sayona recently reported its maiden Ore Reserve and pre-feasibility study (PFS) results for Authier which forecast a net present value of C$140 million pre-tax.

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Thu, 16 Mar 2017 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174884/sayona-mining-secures-option-to-expand-authier-lithium-project-174884.html
<![CDATA[News - Sayona Mining takes note of high priced lithium contracts ]]> http://www.proactiveinvestors.com.au/companies/news/173769/sayona-mining-takes-note-of-high-priced-lithium-contracts-173769.html Sayona Mining (ASX:SYA) sees good potential for it to benefit from the recent pricing of lithium concentrates being sold from Australia to China, which continues to surprise on the upside.

Two new Australian producers have recently reported settlements for 2017 contract pricing of US$750 per tonne for 6% lithium oxide and US830 per tonne FOB for 5.5% lithium oxide.

Notably, Sayona’s pricing assumption in its pre-feasibility study for its developing Authier lithium project in Canada was US$515 per tonne FOB for 5.75% lithium oxide.

The new pricing regime reflects the much tighter market for concentrates as new projects commission slower than forecast and financing constraints slow the planned development timetables for other advanced projects.

Sayona recently reported its maiden Ore Reserve and pre-feasibility study (PFS) results for Authier which forecast a net present value of C$140 million pre-tax.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed PFS include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

The company is now looking at a number of optimisation options to significantly enhance the value of the project, including drilling (currently underway) to expand the Mineral Resource and Ore Reserves, further metallurgical and geotechnical test-work, and other downstream value-adding opportunities.

The deposit is open along strike and at depth.


Analysis

Sayona remains focused on rapidly developing its spodumene projects and capitalising on the strong pricing window available for new project entrants in the short to medium term.

Despite the solid progress achieved at Authier, the company still trades on one of the lowest enterprise value per tonne of Measured and Indicated Resource multiples in the global sector being $176 per tonne.

This valuation is more in line with lithium explorers than an advanced project.

ASX peers such as Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) have comparable valuations of $400-$600 per tonne, representing the potential opportunity Sayona offers.

Opportunity for value-uplift for exists as the project resource base is expanded, optimisation activities are completed, and it’s advanced towards development, which is planned.

The company currently has cash resources of $1.3 million which will fund its development activities in the short term.

Sayona has commenced some preliminary discussions with prospective financiers about options for funding future exploration and development activities with minimal dilution to shareholders.

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Mon, 27 Feb 2017 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173769/sayona-mining-takes-note-of-high-priced-lithium-contracts-173769.html
<![CDATA[News - Sayona Mining samples high grade lithium in world class district ]]> http://www.proactiveinvestors.com.au/companies/news/173302/sayona-mining-samples-high-grade-lithium-in-world-class-district-173302.html Sayona Mining (ASX:SYA) has received assay results from its first phase of sampling at the Mallina project, located in the world-class Pilgangoora lithium district of Western Australia.

Sample and mapping results have Identified five lithium mineralised spodumene bearing pegmatites up to 3.75% lithium oxide located within a 1 square kilometre zone.

Much of the pegmatite swarm and general tenement area remains untested by any previous lithium exploration.

Statutory approvals to allow drill testing are commencing.

Corey Nolan, CEO, commented: “The company is very encouraged by the new assay results from both the soil and rock chip programs.

“Exploration will continue with a focus on outlining potential drill targets as soon as possible on a number of the prospective targets identified from the current exploration program.”


Mallina project

The 140 square kilometre tenement forms part of the recently completed option agreement with Great Sandy Pty Ltd, comprising 871 square kilometres of tenure that complements Sayona’s additional 1,047 square kilometre lithium exploration portfolio in the Pilbara region.

Recent reconnaissance and mapping within the Mallina tenement area has focused around the Discovery pegmatite area, with 93 rock and 66 soil geochemical samples collected.

The Discovery pegmatite has been mapped over 500 metres of strike extent with rock chip assays grading up to 2.13% lithium oxide.

The company’s recent work has identified four previously unknown lithium mineralised spodumene pegmatites, which form part of an extensive swarm of pegmatites.

West of the Discovery pegmatite, two other areas of lithium mineralised pegmatites have been identified, with rock samples returning up to 2.65% lithium oxide.

Significantly, a single pegmatite outcrop, located 900 metres to the south of the Discovery pegmatite was identified and sampled, returning an assay of 3.47% lithium oxide.


Next steps

Further reconnaissance, mapping and rock sampling is planned in follow up to the strong mineralisation identified to date.

Work will focus in the area of newly discovered spodumene pegmatites as well as traversing the unexplored remainder of the tenement area.

Follow-up work will commence as soon as possible, once access after the recent flooding is possible.


Authier valued at C$140 million

Earlier this week, Sayona received the results from its pre-feasibility study (PFS) including a maiden JORC Ore Reserve at its flagship Authier lithium project located in Quebec, Canada.

Key outcomes of the study include a pre-tax net present value (NPV) of C$140 million over an initial 13-year mine life.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Other key findings of the PFS include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

The company is now looking at a number of optimisation options to significantly enhance the value of the project, including drilling (currently underway) to expand the Mineral Resource and Ore Reserves, further metallurgical and geotechnical test-work, and other downstream value-adding opportunities.

The deposit is open along strike and at depth.

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Fri, 17 Feb 2017 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173302/sayona-mining-samples-high-grade-lithium-in-world-class-district-173302.html
<![CDATA[News - Sayona Mining affirms value of Canadian based Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/173230/sayona-mining-affirms-value-of-canadian-based-authier-lithium-project-173230.html Sayona Mining (ASX:SYA) has received the results from its pre-feasibility study including a maiden JORC Ore Reserve at the Authier lithium project located in Quebec, Canada.

Key outcomes of the study include a pre-tax net present value (NPV) of C$140 million over an initial 13-year mine life.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Corey Nolan, CEO, commented: “The company is very pleased to demonstrate Authier’s potential to create significant shareholder value.

“A pre-tax net present value of C$140 million has been demonstrated with more upside to come through the phase 2 drilling program and other optimisation programs.”


Pre-feasibility study results

Key findings of the PFS include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal
Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

The company is now looking at a number of optimisation options to significantly enhance the value of the project, including drilling (currently underway) to expand the Mineral Resource and Ore Reserves, further metallurgical and geotechnical test-work, and other downstream value-adding opportunities.

The deposit is open along strike and at depth.


Monetisation options

Sayona is exploring three separate options for the monetisation of the spodumene concentrates, including:

1. Selling concentrates into the Quebec domestic market. Quebec is the only place in the world outside of China that has an established lithium carbonate production facility. The facility is on care and maintenance but is due to be re-commissioned in 2018. In addition, Nemaska Lithium Inc (TSE:NMX) is also planning to establish a lithium carbonate and hydroxide facility in Quebec and could be a potential purchaser of lithium concentrates;

2. Exporting concentrates through a Quebec Port and selling to a Chinese lithium carbonate processing facility; and

3. Processing and producing a lithium carbonate/hydroxide product through an integrated downstream processing facility at Authier.


Analysis

The results from the study have confirmed the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing spodumene concentrate.

The positive study results demonstrate the opportunity to create substantial long-term sustainable shareholder value at a low capital cost and 2.2 year payback period.

With the deposit open along strike and at depth, significant potential exists to expand resource base.

A drilling program has commenced with the aim of significantly expanding the project resource and reserve base, and improving the economic returns of the project.

Further potential also exists to optimise the mine plan and concentrate grade thereby improving returns.

The study recommends advancing the project to the next study phase in conjunction with a number of optimisation programs.

Sayona shares are trading up 30% over the past three months, currently priced $0.035.

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Thu, 16 Feb 2017 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173230/sayona-mining-affirms-value-of-canadian-based-authier-lithium-project-173230.html
<![CDATA[News - Sayona Mining to expand lithium resource with more drilling ]]> http://www.proactiveinvestors.com.au/companies/news/172145/sayona-mining-to-expand-lithium-resource-with-more-drilling-172145.html Sayona Mining (ASX:SYA) has commenced its Phase 2 resource expansion drilling program at the Authier lithium project located in Quebec, Canada.

The 4,000 metre program will focus on the expansion of the resource following the successful drilling program in 2016 which significantly increased the resource and grade.

The 2016 drilling resulted in a 68% expansion of Authier’s contained lithium resource to 13.74 million tonnes grading 1.07% lithium oxide for 147,600 tonnes of contained lithium.

Importantly, drilling will also aim to define the size and lithium grade of the recently discovered, high-grade, northern pegmatite.

Mineralisation remains open in all directions at Authier.


Background

Sayona’s flagship asset is the Authier lithium project comprising 19 mineral claims totalling 653 hectares.

Authier is a near-term development project and cash-flow generation opportunity for the company.

The dimensions of the deposit drilled to date are 825 metres long, with an average thickness of 25 metres, ranging from 4 metres to 55 metres.

Future mining or mineral extraction of the Authier deposit will be by open cut mining methods using drilling and blasting, and a conventional truck and shovel operation.

Sayona also recently secured an option to acquire an 871 square kilometre package of tenements in the world-class Pilgangoora district of Western Australia.

The package includes the Mallina project with newly identified spodumene pegmatite.


Drill program details

The drilling program has been designed with three aims, including:

- To improve the overall quality and expand on the size of its JORC resource.
The project now has nearly 19,000 metres of diamond drilling in 141 holes. Sayona’s plan is to increase the size and confidence levels of the resource and to study the merits of an expansion and/or the value adding potential of the project beyond what has been studied in the current pre-feasibility study which is nearing completion;

- Assess the resource potential of the newly discovered pegmatite; and

- Locate additional lithium mineralised pegmatites.

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Wed, 25 Jan 2017 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172145/sayona-mining-to-expand-lithium-resource-with-more-drilling-172145.html
<![CDATA[News - Sayona Mining commences exploration at Pilbara lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/171376/sayona-mining-commences-exploration-at-pilbara-lithium-project-171376.html Sayona Mining (ASX:SYA) has commenced first phase exploration at the Mallina project which is located in the world world-class Pilgangoora lithium district of Western Australia.

Initial mapping and sampling programs have commenced including rock chip sampling and mapping, targeting extensions of the known mineralisation.

Other prospective areas in the tenement package that have been identified through satellite and air photography imagery will also be explored.

Other work will include soil geochemistry to target pegmatites hidden by shallow soil cover, widely present within the tenement.

Recent due diligence exploration conducted at Mallina has located significant zones of visible spodumene mineralisation grading up to 2.13% lithium oxide within a pegmatite mapped over 500 metres.


Mallina project

During December, Sayona secured an option to acquire an 871 square kilometre package of tenements in the world-class Pilgangoora district of Western Australia.

The package includes the Mallina project with newly identified spodumene pegmatite.

Highlights include rock chip samples up to 2.13% lithium in discovery pegmatite, with the average of the 10 rock chip samples collected to date being 1.28% lithium.

Mallina is located 80 kilometres west of the Pilgangoora lithium deposits of Altura Mining (ASX:AJM) and Pilbara Minerals (ASX:PLS), and compliments the company’s other 1,000 square kilometre lithium exploration portfolio in the Pilbara region.


Phase II drill program at Authier

Sayona lodged drilling permits in December for the Phase II resource expansion drilling program at the flagship Authier lithium project located in Quebec, Canada.

The company sees good potential to both expand the size of the existing resource and to optimise and improve the existing resource.

A diamond drilling program of up to 4,000 metres is planned to commence in early 2017.

This follows the recent 68% expansion of Authier’s contained lithium resource to 13.74 million tonnes grading 1.07% lithium oxide for 147,600 tonnes of contained lithium.

Importantly, the next phase of drilling will aim to define the size and grade of the recently discovered high-grade northern pegmatite and explore for additional pegmatites.

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Tue, 10 Jan 2017 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171376/sayona-mining-commences-exploration-at-pilbara-lithium-project-171376.html
<![CDATA[News - Sayona Mining secures more funds from an underwriting ]]> http://www.proactiveinvestors.com.au/companies/news/170835/sayona-mining-secures-more-funds-from-an-underwriting-170835.html The new funds, include option exercise by:

- Directors Totaling $145,000;
- Other supportive option and shareholders totaling $805,000; and
- Underwriting agreement extension from $450,000 to $570,000.

Total proceeds to date from option exercise and underwriting agreement total $1.52 million.

The proceeds, together with existing cash reserves, will be used to accelerate the development of the Authier project in Canada, including the planned drilling program for early 2017, and completion of the Pre-Feasibility Study.

Authier mineralisation is hosted in a spodumene-bearing pegmatite intrusion with more than 18,800 metres of drilling in 139 holes.

Authier is amenable to simple open-cut mining and processing methods, and is situated in close proximity to development infrastructure.

The resource is currently 13.74 million tonnes at 1.07% lithium oxide for 147,600 tonnes of contained lithium.

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Thu, 22 Dec 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170835/sayona-mining-secures-more-funds-from-an-underwriting-170835.html
<![CDATA[News - Sayona Mining dials into world-class Pilgangoora lithium district ]]> http://www.proactiveinvestors.com.au/companies/news/170770/sayona-mining-dials-into-world-class-pilgangoora-lithium-district-170770.html Sayona Mining (ASX:SYA) shares are on the rise today, following the company securing an option from Great Sandy Pty Ltd to acquire an 871 square kilometre package of tenements in the world-class Pilgangoora district of Western Australia.

The package includes the Mallina project with newly identified spodumene pegmatite.

Highlights include rock chip samples up to 2.13% lithium in discovery pegmatite, with the average of the 10 rock chip samples collected to date being 1.28% lithium.

Mallina is located 80 kilometres west of the Pilgangoora lithium deposits of Altura Mining (ASX:AJM) and Pilbara Minerals (ASX:PLS), and compliments the company’s other 1,000 square kilometre lithium exploration portfolio in the Pilbara region.


Additional highlights at Mallina

- Spodumene crystals over 20 centimetres in diameter identified within the discovery pegmatite, along a 500 metre strike zone; and
- Pegmatite swarm remains unexplored, and therefore the high potential for additional discoveries.

The company plans to commence mapping and geochemical sampling in early 2017, to generate drill targets.


Consideration

The purchase terms include an option to acquire 80% interest in all the tenements by making staged payments in cash or shares at Great Sandy’s election of $300,000 within 12 months and $300,000 within 24 months (or $500,000 within 18 months at Sayona’s election), and free carrying Grant Sandy to Decision to Mine.

Great Sandy can elect to convert the 20% interest to a 2% gross smelter royalty.
Sayona is required to make a $30,000 deal signing payment and commit to minimum expenditure of $100,000 within the first 12 months.


Details on the Mallina Spodumene Project

The Mallina project overlies Archaean sediments and mafic volcanics which have been intruded by post tectonic monzogranite.

The area does not appear to have been prospected for pegmatite mineralisation before the recent discovery, despite the combination of post tectonic granite, structure and proximity to the Wodgina / Pilgangoora lithium discoveries to the east.

The discovery pegmatite was recently identified during routine reconnaissance of the area.

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Wed, 21 Dec 2016 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170770/sayona-mining-dials-into-world-class-pilgangoora-lithium-district-170770.html
<![CDATA[News - Sayona Mining secures funds through option underwriting agreement ]]> http://www.proactiveinvestors.com.au/companies/news/170282/sayona-mining-secures-funds-through-option-underwriting-agreement-170282.html Sayona Mining (ASX:SYA) has executed an option underwriting agreement for $450,000 in respect of its listed $0.03 options expiring 30 December, 2016.

The company is also in discussions with other parties to increase the underwritten commitments.

The proceeds of the underwriting, together with existing cash reserves, will be used to accelerate the development of the Authier lithium project located in Canada, including the planned drilling program for early 2017.

Sayona recently lodged drilling permits for the Phase II resource expansion drilling program at Authier.

The company sees good potential to both expand the size of the existing resource and to optimise and improve the existing resource.

A diamond drilling program of up to 4,000 metres is planned to commence in early 2017.

This follows the recent 68% expansion of Authier’s contained lithium resource to 13.74 million tonnes grading 1.07% lithium oxide for 147,600 tonnes of contained lithium.

Importantly, the next phase of drilling will aim to define the size and grade of the recently discovered high-grade northern pegmatite and explore for additional pegmatites.


Phase II drill program

The drilling program has been designed with three aims:

- To improve the overall quality and expand on the size of its JORC resource;
- Assess the resource potential of the newly discovered pegmatite; and
- Locate additional lithium mineralised pegmatites.

The project now has nearly 19,000 metres of diamond drilling in 141 holes.

Sayona’s plan is to increase the size and confidence levels of the resource and to study the merits of an expansion and/or the value adding potential of the project beyond what has been studied in the current pre-feasibility study which is nearing completion.

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Mon, 12 Dec 2016 10:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170282/sayona-mining-secures-funds-through-option-underwriting-agreement-170282.html
<![CDATA[News - Sayona Mining prepares for next phase of lithium drilling ]]> http://www.proactiveinvestors.com.au/companies/news/170078/sayona-mining-prepares-for-next-phase-of-lithium-drilling-170078.html Sayona Mining (ASX:SYA) has lodged drilling permits for the Phase II resource expansion drilling program at the Authier lithium project located in Quebec, Canada.

The company sees good potential to both expand the size of the existing resource and to optimise and improve the existing resource.

A diamond drilling program of up to 4,000 metres is planned to commence in early 2017.

This follows the recent 68% expansion of Authier’s contained lithium resource to 13.74 million tonnes grading 1.07% lithium oxide for 147,600 tonnes of contained lithium.

Importantly, the next phase of drilling will aim to define the size and grade of the recently discovered high-grade northern pegmatite and explore for additional pegmatites.


Phase II drill program

The drilling program has been designed with three aims:

- To improve the overall quality and expand on the size of its JORC resource;
- Assess the resource potential of the newly discovered pegmatite; and
- Locate additional lithium mineralised pegmatites.

The project now has nearly 19,000 metres of diamond drilling in 141 holes.

Sayona’s plan is to increase the size and confidence levels of the resource and to study the merits of an expansion and/or the value adding potential of the project beyond what has been studied in the current pre-feasibility study which is nearing completion.


Authier lithium project

Sayona purchased the Authier lithium project comprising 19 mineral claims totalling 653 hectares for CAD$4 million during 2016.

Authier is a near-term development project and cash-flow generation opportunity for the company.

The dimensions of the deposit drilled to date are 825 metres long, with an average thickness of 25 metres, ranging from 4 metres to 55 metres.

Future mining or mineral extraction of the Authier deposit will be by open cut mining methods using drilling and blasting, and a conventional truck and shovel operation.

The project is situated 45 kilometres north-west of the city of Val d’Or, a major mining service centre.

The project is easily accessed by a rural road network connecting to a national highway a few kilometres east of the project site.


Analysis

The second phase of drilling at Authier is significant for Sayona as it looks to grow the resource, which in turn has an opportunity to improve project economics.

The Authier deposit has been extensively drilled, is amenable to simple open cut mining and has a defined JORC resource with simple metallurgy.

The successful first phase of drilling has both expanded the lithium resource and shown that mineralisation remains open in all directions.

Furthermore, pegmatites generally occur in swarms and the company’s aim is to locate additional mineralised pegmatites in the area.

Sayona is working towards completing its pre-feasibility study in late 2016 which will assess the development potential of a simple, low strip ratio, open-cut mining operation and processing facility.

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Wed, 07 Dec 2016 10:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170078/sayona-mining-prepares-for-next-phase-of-lithium-drilling-170078.html
<![CDATA[News - Sayona Mining Ltd significantly expands JORC lithium resource ]]> http://www.proactiveinvestors.com.au/companies/news/169369/sayona-mining-ltd-significantly-expands-jorc-lithium-resource-169369.html Sayona Mining Ltd (ASX:SYA) has expanded its JORC lithium resource to 13.74 million tonnes grading 1.07% lithium oxide at the Authier lithium project in Quebec, Canada.

The total contained lithium increased 68% to 146,700 tonnes and was a result of a successful 3,967 metre drilling campaign.

86% of the new resource estimate is in the Measured and Indicated categories.

Strong potential still exists to expand the resource and drilling is planned to commence in early 2017 for the definitive feasibility study.

Corey Nolan, CEO, commented: “The 2016 drilling program has significantly expanded the size of the Resource and improved the average grade of the deposit, especially at shallow levels which would be mined first in a future operation.”


Project details

Sayona purchased the Authier lithium project comprising 19 mineral claims totalling 653 hectares for CAD$4 million during 2016.

Authier is a near-term development project and cash-flow generation opportunity for the company.

The dimensions of the deposit drilled to date are 825 metres long, with an average thickness of 25 metres, ranging from 4 metres to 55 metres.

Future mining or mineral extraction of the Authier deposit will be by open cut mining methods using drilling and blasting, and a conventional truck and shovel operation.


Follow up drilling

Follow up drilling is being planned for early 2017 with the objectives, including:

- Defining the mineralised boundaries and lifting the resource categories in the western
sector that was not accessible during the summer months;
- Testing for mineralisation in the east and west strike extensions; and
- Assessing the resource potential of the new northern pegmatite.

Any new mineralisation defined within the new pegmatite is likely to fall within the main Authier open-cut pit shell.

Any new resources will significantly improve the waste to ore ratio in a future operation


Infrastructure access

The Authier project is situated 45 kilometres north-west of the city of Val d’Or, a major mining service centre.

The project is easily accessed by a rural road network connecting to a national highway a few kilometres east of the project site. 


Analysis

The Authier deposit has been extensively drilled, is amenable to simple open cut mining and has a defined JORC resource with simple metallurgy.

The phase 1 drill program at Authier comprised of 18 diamond holes and has successfully expanded the JORC lithium resource.

The mineralisation remains open in all directions.

Sayona is working towards completing its pre-feasibility study in late 2016 which will assess the development potential of a simple, low strip ratio, open-cut mining operation and processing facility.

Regarding metallurgical testing, a detailed program using 430 kilograms of drill core is underway.

The final stages of the program which incorporates locked cycle process testing of the Authier ore is nearing is nearing completion.

The company is also currently engaged with the local authorities to establish the permitting regime for Authier.

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Wed, 23 Nov 2016 13:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169369/sayona-mining-ltd-significantly-expands-jorc-lithium-resource-169369.html
<![CDATA[News - Sayona Mining Ltd receives final lithium assay results ]]> http://www.proactiveinvestors.com.au/companies/news/169105/sayona-mining-ltd-receives-final-lithium-assay-results-169105.html Sayona Mining Ltd (ASX:SYA) has received the final ten diamond drill results, which demonstrate potential to expand the resource at the Authier lithium project in Canada.

Six new drill holes have successfully tested the deep extensions of mineralisation at the main Authier pegmatite.

Four shallow holes at the Authier pegmatite will also be used to upgrade the resource categories from indicated to measured. 

Sayona believes the new drilling has the potential to expand the size of the existing JORC resource, and the mineralisation remains open in all directions.

More drilling is planned for early 2017.


Drill results

All diamond drill holes have intercepted high-grade spodumene mineralisation with the best  drilling intercepts including:

- 38 metres at 1.10% lithium oxide from 192 metres, including 23 metres at 1.35% lithium oxide;
- 46 metres at 1.26% lithium oxide from 135 metres including 24 metres at 1.62% lithium oxide; and
- 47 metres at 1.05% lithium oxide from 161 metres including 27 metres at 1.31% lithium oxide.

The final 10 holes were part of the phase 1 drill program comprising 3,960 metres of drilling in 18 diamond holes.


Background

Sayona recently completed the CAD$4 million acquisition of the Authier lithium project in Canada, which is a near-term development project and cash-flow generation opportunity for the company.

Sayona has paid CAD$4 million for a project that:
- Has been extensively drilled;
- Is a simple deposit amenable to open cut mining;
- Has a defined JORC resource with simple metallurgy; and
- Has good access to developed infrastructure.

The acquisition cost represents a valuation of $47 per tonne of lithium resource.

Sayona can unlock value by progressing this project further towards development.

Developing Authier is in the line with the company’s strategy to develop its lithium and graphite projects to provide raw materials for lithium-ion batteries.


Analysis

Assays from the phase 1 drill program at Sayona have confirmed the potential this drilling program has to expand the size of the existing JORC Resource.

They also supports the converting of existing resources to the higher confidence measured and indicated categories.

The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the pre-feasibility study due for completion late this quarter.

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.

Any additional lithium resources found have the opportunity to improve project economics.

The Authier deposit is amenable to low cost, open cut mining.

News regarding the completion of the pre-feasibility study is expected in this quarter.

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Thu, 17 Nov 2016 10:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169105/sayona-mining-ltd-receives-final-lithium-assay-results-169105.html
<![CDATA[News - Sayona Mining Ltd receives strong interest for future lithium concentrate sales ]]> http://www.proactiveinvestors.com.au/companies/news/168969/sayona-mining-ltd-receives-strong-interest-for-future-lithium-concentrate-sales-168969.html Sayona Mining Ltd (ASX:SYA) has been exploring a number of options for selling or value-adding the spodumene concentrate that will be produced from a future operation at the Authier lithium project in Canada.

This includes direct sales of concentrate to converters that produce lithium products suitable for the global battery markets.

Strong demand for the lithium products has driven concentrate prices to record levels and the company has received strong interest for the supply of new concentrates to the market.

In early November, Sayona attended a global lithium conference in China and held a number of discussions with interested parties seeking to establish long-term spodumene sales contracts.

The company is also actively evaluating value-adding opportunities in the downstream lithium sector such as producing lithium carbonate.


Lithium carbonate opportunity

Currently there is significant financial margins being achieved by the processing of spodumene concentrates into lithium carbonate.

Sayona is evaluating the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility to enhance the project value, and improve the long-term competitive position of the project.

The Canadian state of Quebec is uniquely positioned with a number of significant commercial and market advantages.

Quebec has excellent infrastructure including globally competitive, low-cost gas and electricity prices, skilled labour, road and rail transport networks, a supportive government, and is in close proximity to the U.S markets including the Tesla Giga factory in Nevada.


Background

Sayona completed the CAD$4 million acquisition of the Authier lithium project in Canada, which is a near-term development project and cash-flow generation opportunity for the company.

Sayona paid CAD$4 million for a project that:

- Has been extensively drilled;
- Is a simple deposit amenable to open cut mining;
- Has a defined JORC resource with simple metallurgy; and
- Has good access to developed infrastructure.

The acquisition cost represents a valuation of $47 per tonne of lithium resource.

Since its acquisition, the phase 1 drill program at Authier has been completed and comprised 3,960 metres of drilling in 18 diamond holes.

The latest drill hole, hole 10, assayed 7 metres at 1.36% lithium oxide from 15 metres depth including 2 metres at 2.24% lithium oxide.


Next steps

Sayona is working towards completing its pre-feasibility study in 2016 which will assess the development potential of a simple, low strip ratio, open-cut mining operation and processing facility.

It will also incorporate an updated JORC Resource estimate.

Regarding metallurgical testing, a detailed program using 430 kilograms of drill core is underway.

The final stages of the program which incorporates locked cycle process testing of the Authier ore is nearing is nearing completion.

The company is also currently engaged with the local authorities to establish the permitting regime for Authier.

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Tue, 15 Nov 2016 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168969/sayona-mining-ltd-receives-strong-interest-for-future-lithium-concentrate-sales-168969.html
<![CDATA[News - Sayona Mining Ltd receives assays from newly discovered pegmatite ]]> http://www.proactiveinvestors.com.au/companies/news/168651/sayona-mining-ltd-receives-assays-from-newly-discovered-pegmatite-168651.html Sayona Mining Ltd (ASX:SYA) has received assays measuring 7 metres at 1.36% lithium oxide from a hidden pegmatite discovered at the Authier lithium project in Canada during the October drilling campaign.

The pegmatite is not visible from surface and was discovered in a step-back drill hole targeting deeper mineralisation.

Further drilling is required to test the extent of the new pegmatite system.

Corey Nolan, CEO, commented: “The new discovery highlights the potential for identifying new high-grade pegmatites within the Authier tenement package which remains largely under explored outside the main pegmatite resource.

“Drilling to test the potential of the new pegmatite is planned in early 2017.”


Background

Sayona recently completed the CAD$4 million acquisition of the Authier lithium project in Canada, which is a near-term development project and cash-flow generation opportunity for the company.

Sayona has paid CAD$4 million for a project that:

- Has been extensively drilled;
- Is a simple deposit amenable to open cut mining;
- Has a defined JORC resource with simple metallurgy; and
- Has good access to developed infrastructure.

The acquisition cost represents a valuation of $47 per tonne of lithium resource.

Sayona can unlock value by progressing this project further towards development.

Developing Authier is in the line with the company’s strategy to develop its lithium and graphite projects to provide raw materials for lithium-ion batteries.


Phase 1 drill program

The phase 1 drill program at Authier is now complete and comprised 3,960 metres of drilling in 18 diamond holes.

The latest drill hole, hole 10, discovered 7 metres at 1.36% lithium oxide from 15 metres depth including 2 metres at 2.24% lithium oxide.

The assay comes from a recently discovered second pegmatite body, located 400 metres north of the Authier pegmatite.

The new pegmatite was discovered in a step-back drill hole targeting deeper mineralisation in the eastern zone of the Authier main pegmatite.

The new pegmatite, not visible from the surface, was intersected at shallow levels between 15 metres to 22 metres downhole depth.


Analysis

Assays from hole 10 confirm lithium mineralisation in a previously unknown pegmatite 400 metres from the main Authier pegmatite.

Drill results from the phase 1 drilling campaign continue to confirm the potential this drilling program has to expand the size of the existing JORC Resource.

It also supports the converting of existing resources to the higher confidence measured and indicated categories.

The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the pre-feasibility study due for completion late this quarter.

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.

Any additional lithium resources found have the opportunity to improve project economics.

The Authier deposit is amenable to low cost, open cut mining.

News flow is expected regarding drilling assays from the remaining completed holes.

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Tue, 08 Nov 2016 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168651/sayona-mining-ltd-receives-assays-from-newly-discovered-pegmatite-168651.html
<![CDATA[News - Sayona Mining Ltd gets the results it wanted from lithium drill assays ]]> http://www.proactiveinvestors.com.au/companies/news/168442/sayona-mining-ltd-gets-the-results-it-wanted-from-lithium-drill-assays-168442.html Sayona Mining Ltd (ASX:SYA) has received assays from five diamond drill holes extending and upgrading the Authier lithium deposit located in Quebec, Canada.

The aim of the drilling program is to increase the size of the resource and improve the confidence level of the JORC resource categories.

Three of the holes successfully tested deep extensions of mineralisation at the main Authier pegmatite intersecting 50 metres at 1.13% lithium oxide.

The other two holes returned better grades and thicknesses compared to historical nearby holes.

Sayona believes the new drilling has the potential to expand the size of the existing JORC Resource, and mineralisation remains open in all directions.


Diamond drilling program

The phase 1 drill program at Authier is now complete and comprised 3,960 metres of drilling in 18 diamond holes.

Assays from a total of seven holes have now been received with results from the latest five hole including:

- 27 metres at 1.46% lithium oxide from 135 metres depth including 11 metres at 1.66% lithium oxide;
- 50 metres at 1.13% lithium oxide from 120 metres depth including 11 metres at 1.40% lithium oxide; and
- 40 metres at 1.27% lithium oxide from 3.8 metres depth including 20 metres at 1.47% lithium oxide.

Results follow the first two diamond holes which intersected 62 metres at 1.35% lithium oxide from 12 metres depth including 16 metres at 1.65% lithium oxide.

Drilling recently helped discover a second pegmatite body, located 400 metres north of the Authier pegmatite.


Background

Sayona recently completed the CAD$4 million acquisition of the Authier lithium project in Canada, which is a near-term development project and cash-flow generation opportunity for the company.

Sayona has paid CAD$4 million for a project that:
- Has been extensively drilled;
- Is a simple deposit amenable to open cut mining;
- Has a defined JORC resource with simple metallurgy; and
- Has good access to developed infrastructure.

The acquisition cost represents a valuation of $47 per tonne of lithium resource.

Sayona can unlock value by progressing this project further towards development.

Developing Authier is in the line with the company’s strategy to develop its lithium and graphite projects to provide raw materials for lithium-ion batteries.


Analysis

This second set of drill results from the diamond program at Sayona further confirms the potential this drilling program has to expand the size of the existing JORC Resource.

It also supports the converting of existing resources to the higher confidence measured and indicated categories.

The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the pre-feasibility study due for completion late this quarter.

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.

Any additional lithium resources found have the opportunity to improve project economics.

The Authier deposit is amenable to low cost, open cut mining.

News flow is expected regarding drilling assays from the remaining completed holes.

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Thu, 03 Nov 2016 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168442/sayona-mining-ltd-gets-the-results-it-wanted-from-lithium-drill-assays-168442.html
<![CDATA[News - Sayona Mining Ltd hits more lithium in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/167869/sayona-mining-ltd-hits-more-lithium-in-canada-167869.html Sayona Mining Ltd (ASX:SYA) has drilled a 40 metre thick zone of spodumene mineralisation at the Authier lithium project in Canada in a zone that was previously thought to be a gap in the lithium deposit.

Historical drilling has previously failed to intersect mineralisation within the middle to deep levels of the gap zone.

It was interpreted that the resource didn’t connect between the eastern and western zones of the deposit.

Spodumene mineralisation was visible throughout the intersection and interpreted as medium to high grade lithium.

Assays remain pending.


Background

Sayona recently completed the CAD$4 million acquisition of the Authier lithium project in Canada, which is a near-term development project and cash-flow generation opportunity for the company.

Sayona has paid CAD$4 million for a project that:
- Has been extensively drilled;
- Is a simple deposit amenable to open cut mining;
- Has a defined JORC resource with simple metallurgy; and
- Has good access to developed infrastructure.

The acquisition cost represents a valuation of $47 per tonne of lithium resource.

Sayona can unlock value by progressing this project further towards development.

Developing Authier is in the line with the company’s strategy to develop its lithium and graphite projects to provide raw materials for lithium-ion batteries.


Analysis

This latest drill hole has the opportunity to enhance the value of the project by adding additional resources to the current deposit.

The mineralisation within the zone is interpreted to extend 150 metres in strike length and down to 200 metres depth.

It will also likely simplify the mine plan and optimisation of the life-of-mine stripping ratio.

An additional drill hole within the western border of the gap zone is being drilled for resource definition purposes.

The company’s drilling objective is to significantly expand the size of the Authier JORC Resource and extend the mine life, and potentially the scale of a future operation.

A prefeasibility study is underway to study the technical and commercial viability of the base case development scenario, and is due for completion late in 2016.

Assays from first two diamond drill holes intersected:

- 62 metres at 1.35% lithium oxide from 12 metres depth including 16 metres at 1.65% lithium oxide; and
- 49 metres at 1.18% lithium oxide from 50 metres depth including 17 metres at 1.49% lithium oxide.

The 62-metre intersection is the longest intercept of spodumene mineralisation recorded in drilling at Authier.

News flow is expected with all other assays of completed holes still pending.

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Tue, 25 Oct 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167869/sayona-mining-ltd-hits-more-lithium-in-canada-167869.html