http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sat, 19 Aug 2017 09:45:19 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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.

]]>
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
<![CDATA[News - Sayona Mining hits 62 metres of lithium in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/167804/sayona-mining-hits-62-metres-of-lithium-in-canada-167804.html This is the longest intercept of spodumene mineralisation recorded in drilling at Authier.

The current drilling program is demonstrating the potential to expand the size of the JORC Resource.

A new resource will be incorporated into the pre-feasibility study which is currently underway

Corey Nolan, chief executive officer, commented: “The company is very encouraged by the widths and high-grade nature of the mineralisation intersected in the drilling.

“The company believes the new drilling will have the potential to expand the size of the JORC resource at the completion of the program.”


Diamond drilling program

More than 3,300 metres of drilling has been completed in 16 diamond holes at Authier.

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

The 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.

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

The width and grade from the first two drill holes at Authier shows the potential the project as to be expanded with drilling.

While the drilling is focused on converting resources to the higher confidence measured and indicated categories, it will also explore for extensions to the existing mineral resources.

The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the pre-feasibility study.

Once the pre-feasibility study is completed, the company plans the rapid completion of a bankable feasibility study, securing off-take agreements and project financing.

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 further drilling assays being received.

]]>
Mon, 24 Oct 2016 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167804/sayona-mining-hits-62-metres-of-lithium-in-canada-167804.html
<![CDATA[News - Sayona Mining finds hidden pegmatite at Canadian lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/167186/sayona-mining-finds-hidden-pegmatite-at-canadian-lithium-project-167186.html Sayona Mining Ltd (ASX:SYA) has discovered a new spodumene bearing pegmatite through drilling at the Authier lithium project in the Canadian state of Quebec.

The new pegmatite, not visible from the surface, was intersected at shallow levels between 15 metres to 21 metres downhole depth.

It contained visible spodumene mineralisation.

The new discovery highlights the potential for identifying new pegmatites within the Authier tenement package which remains under explored outside the main pegmatite resource.

The new pegmatite is located 400 metres north of the main pegmatite resource.

The company has now completed ten drill holes totalling 2,000 metres and samples from the first seven holes have been sent to the laboratory for analysis.


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.


Drill program details

During September, Sayona commenced a highly anticipated diamond drilling program of between 5,000 to 6,000 metres at the Authier lithium project.

The drilling is focused on converting resources to the higher confidence measured and indicated categories, while increasing the drill density to convert mineral resources to reserves.

The program will also explore for extensions to the existing mineral resources and other potential mineralisation within the tenement package.

The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the pre-feasibility study.

Once the pre-feasibility study is completed, the company plans the rapid completion of a bankable feasibility study, securing off-take agreements and project financing.

]]>
Tue, 11 Oct 2016 11:57:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167186/sayona-mining-finds-hidden-pegmatite-at-canadian-lithium-project-167186.html
<![CDATA[News - Sayona Mining Ltd spins the diamond rig at Authier lithium ]]> http://www.proactiveinvestors.com.au/companies/news/165276/sayona-mining-ltd-spins-the-diamond-rig-at-authier-lithium-70923.html Sayona Mining Ltd (ASX:SYA) has now commenced a highly anticipated diamond drilling program of between 5,000 to 6,000 metres at the Authier lithium project, Quebec, Canada.

Authier was recently acquired by Sayona and is a near-term development project and cash-flow generation opportunity for the company.

The drilling is focused on converting resources to the higher confidence measured and indicated categories, while increasing the drill density to convert mineral resources to reserves.

The program will also explore for extensions to the existing mineral resources and other potential mineralisation within the tenement package.

Corey Nolan, chief executive officer, commented:

"The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the Pre-Feasibility Study.

"Once the Pre-Feasibility Study is completed, the company plans the rapid completion of a Bankable Feasibility Study, securing off-take agreements and project financing."


Drilling benefits

Additional drilling benefits include:

- Collecting geotechnical and hydrological data for incorporation in the Authier Feasibility Studies; and

- Collecting additional drill core for any additional metallurgical testing that may
be required to complete a Bankable Feasibility study, planned for 2017.


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.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 08 Sep 2016 10:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165276/sayona-mining-ltd-spins-the-diamond-rig-at-authier-lithium-70923.html
<![CDATA[News - Sayona Mining Ltd's Corey Nolan talks lithium drilling at Spotlight CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/165275/sayona-mining-ltds-corey-nolan-talks-lithium-drilling-at-spotlight-ceo-sessions-70812.html Sayona Mining Ltd's (ASX:SYA) chief executive officer, Corey Nolan, joined Proactive's Spotlight CEO Investor Sessions in Melbourne and Sydney this week, outlining the company's lithium strategy to investors.

Sayona has been granted a drilling permit for a 5,000-6,000 metre diamond drill program to commence in September at the Authier lithium project located in Quebec, Canada.

Authier was recently acquired by Sayona and is a near-term development project and cash-flow generation opportunity for the company.

The drilling aims to upgrade the current JORC resource and explore for extensions and other potential mineralisation.

 

ACCESS THE FULL PRESENTATION HERE

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Fri, 02 Sep 2016 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165275/sayona-mining-ltds-corey-nolan-talks-lithium-drilling-at-spotlight-ceo-sessions-70812.html
<![CDATA[News - Sayona Mining Ltd gets green light for drilling at Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/165274/sayona-mining-ltd-gets-green-light-for-drilling-at-authier-lithium-project-70671.html Sayona Mining Ltd (ASX:SYA) has been granted a drilling permit for a 5,000-6,000 metre diamond drill program to commence in September at the Authier lithium project located in Quebec, Canada.

Authier was recently acquired by Sayona and is a near-term development project and cash-flow generation opportunity for the company.

The drilling aims to upgrade the current JORC resource and explore for extensions and other potential mineralisation.

Drilling will commence once track clearing is complete.

Corey Nolan, CEO, commented: “The resource definition drilling is expected to enhance the quality and scale of the resource that will be used in the pre-feasibility study.

“Once the pre-feasibility study is completed, the company plans the rapid completion of a bankable feasibility study, securing off-take agreements and project financing.”


Diamond drill program

The drilling program has been designed to improve the overall quality and expand on the size of its existing JORC 2012 compliant Mineral Resource estimate.

The project has more than 15,000 metres of historical diamond drilling in 123 holes, and 2,143 assay samples.

The aim of the drilling program, includes:

- Converting the inferred mineral resources to measured and indicated through further drilling;
- Increasing the drill density to convert mineral resources to reserves;
- Exploring for extensions to the existing mineral resources and other potential mineralisation within the tenement package;
- Collecting geotechnical and hydrological data for incorporation in the Authier feasibility studies; and
- Collecting additional drill core for any additional metallurgical testing that may be required to complete a bankable feasibility study, planned for 2017.


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.

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.

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

The drilling program at Authier will both progress the development of the project by aiding the completion of the pre-feasibility study; and leverage Sayona to exploration upside.

The completion of the recently commenced pre-feasibility study is an important milestone in taking the Authier project into lithium production.

Furthermore, while the drilling will be upgrading the definition of the JORC Resource, it will also be probing for new mineralisation which has the potential to be a catalyst for Sayona.

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 the commencement of drilling and assays received.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Thu, 25 Aug 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165274/sayona-mining-ltd-gets-green-light-for-drilling-at-authier-lithium-project-70671.html
<![CDATA[News - Sayona Mining Ltd takes another step to advance Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/165273/sayona-mining-ltd-takes-another-step-to-advance-authier-lithium-project-70621.html Sayona Mining Ltd (ASX:SYA) has commenced a metallurgical testing program at its recently acquired Authier lithium project in Quebec, Canada.

Testwork will use 410 kilograms of drill core available from historical drilling.

The primary focus of the program is to demonstrate whether Authier spodumene ore is amenable to concentration using dense media separation (DMS).

A lithium concentrate produced using DMS methods has a number of advantages including, cost reductions, being chemical-free and faster processing leading to nearer cash flows.

Results will be incorporated into a new flow sheet design and the pre-feasibility study.


Previous metallurgy work

Authier has been the subject of two metallurgical test work programs in 1999 and 2012.

In 2012, testing of a 270 kilogram composite sample achieved attractive results including an 88% metallurgical recovery to a 6.09% lithium superoxide concentrate.

The results of the program were used to design a conventional process flowsheet incorporating crush, grind and flotation for the 2013, Authier NI43-101 preliminary economic assessment.

The flowsheet contemplated the processing of 2,200 tonnes of ore per day at 85% metallurgical recovery to produce a 6% lithium superoxide spodumene concentrate.


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.

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.

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

The advanced metallurgical testing program will be incorporated into the pre-feasibility study which is a key milestone in Sayona’s development of Authier.

The pre-feasibility study will then allow Sayona to progress further towards production by completing a definitive feasibility study, mining licence applications and offtake contracts.

If Sayona can demonstrate that Authier ore can be processed successfully using DMS, this will have positive effects on project economics and feasibility.

DMS concentrate can be sold without further processing, shortening the lead time to generate first cash flows.

Furthermore, using DMS would reduce plant size and capital expenditure as well as reduce the consumption of reagents and power in the flotation and grinding circuits.

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

On completion of the pre-feasibility study, the company plans to progress towards completing a definitive feasibility study, mining licence applications, and product offtake contracts.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Tue, 23 Aug 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165273/sayona-mining-ltd-takes-another-step-to-advance-authier-lithium-project-70621.html
<![CDATA[News - Sayona Mining Ltd brings Authier lithium project to light at Spotlight CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/165272/sayona-mining-ltd-brings-authier-lithium-project-to-light-at-spotlight-ceo-sessions-70519.html Sayona Mining Ltd (ASX:SYA) 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.

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.

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.

Find out more from Corey Nolan, managing director, at Proactive's Spotlight CEO Sessions in Melbourne and Sydney in August 2016.

REGISTER HERE

Melbourne Investor Sessions, Tuesday, 30th August 2016

Sydney Investor Sessions, Wednesday, 31st August 2016


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Mon, 22 Aug 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165272/sayona-mining-ltd-brings-authier-lithium-project-to-light-at-spotlight-ceo-sessions-70519.html
<![CDATA[News - Sayona Mining Ltd's portfolio to focus on Authier lithium ]]> http://www.proactiveinvestors.com.au/companies/news/165271/sayona-mining-ltds-portfolio-to-focus-on-authier-lithium-70474.html Sayona Mining Ltd (ASX:SYA) will put all of its focus and energy into the Authier lithium project located in Quebec, Canada.

The upcoming work program will include a metallurgical study, a process engineering study, a resource definition and extension drilling program and preparation of a pre-feasibility study.

Sayona has advised that it will not renew an option to acquire the Itabela graphite project.

Corey Nolan, chief executive officer, commented:

"The company’s strategy is to invest in projects which it believes generate the highest return to shareholders.

"Our primary focus is now on the development of the Authier lithium project and identifying strategies for realising value from our other project interests."

Sayona continues to hold an exposure to the graphite sector through its East Kimberley project in Western Australia.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Tue, 16 Aug 2016 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165271/sayona-mining-ltds-portfolio-to-focus-on-authier-lithium-70474.html
<![CDATA[News - Sayona Mining Ltd completes retail component of raising ]]> http://www.proactiveinvestors.com.au/companies/news/165270/sayona-mining-ltd-completes-retail-component-of-raising-70463.html Sayona Mining Ltd (ASX:SYA) has completed the retail component of its 1 for 5 pro-rata accelerated non-renounceable entitlement offer.

The offer was priced at $0.027 per share and will include one free attaching option exercisable at $0.03 for every two new shares acquired.

Total applications were $436,915, with the shortfall of $559,801 placed to investors by the underwriter Bizzell Capital Partners Pty Ltd.

Already completed is the institutional component which raised $1,904,570, with Sayona entering into an agreement to undertake a further placement to raise up to $600,000.

Total proceeds including the placement would be circa $3.6 million.


Lithium in Canada

Sayona is commencing a new five month work program on the recently acquired Authier lithium project located in Quebec, Canada.

The upcoming work program will include a metallurgical study, a process engineering study, a resource definition and extension drilling program and preparation of a pre-feasibility study.


Authier lithium project

The Authier lithium project is located in the top tier mining jurisdiction of Quebec, Canada.

The Authier project has been subject to a number of historical drilling, metallurgical testing and technical studies including:

- Over 15,000 metres of drilling;
- Two metallurgical programs including a 40 tonnes bulk sample;
- a base-line environmental impact study; and
- A NI 43-101 technical report, preliminary economic assessment in 2013.

The company’s primary strategy is to focus on completing the studies required to commence the development of the project.

The project contains the Authier deposit with a JORC Resource Estimate of 9.12 million tonnes grading 0.96% lithium for 87,302 tonnes of lithium.

The deposit is 825 metres long, has an average width of 25 metres and dips to 200 metres depth, where the resource remains open.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Tue, 16 Aug 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165270/sayona-mining-ltd-completes-retail-component-of-raising-70463.html
<![CDATA[News - Sayona Mining Ltd continues to advance recent lithium acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/165269/sayona-mining-ltd-continues-to-advance-recent-lithium-acquisition-70437.html Sayona Mining Ltd (ASX:SYA) is commencing a new five month work program on the recently acquired Authier lithium project located in Quebec, Canada.

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

The upcoming work program will include a metallurgical study, a process engineering study, a resource definition and extension drilling program and preparation of a pre-feasibility study.

Corey Nolan, CEO, commented: “The new studies will provide important technical and financial information about the project for shareholders, and supporting discussions with potential off-takers, equipment suppliers, financiers and regulatory organisations.

“On completion of the pre-feasibility study, the company plans to progress towards completing a definitive feasibility study, mining licence applications, and product offtake contracts.”


Authier lithium project

The Authier lithium project is located in the top tier mining jurisdiction of Quebec, Canada.

The Authier project has been subject to a number of historical drilling, metallurgical testing and technical studies including:

- Over 15,000 metres of drilling;
- Two metallurgical programs including a 40 tonnes bulk sample;
- a base-line environmental impact study; and
- A NI 43-101 technical report, preliminary economic assessment in 2013.

The company’s primary strategy is to focus on completing the studies required to commence the development of the project.

The project contains the Authier deposit with a JORC Resource Estimate of 9.12 million tonnes grading 0.96% lithium for 87,302 tonnes of lithium.

The deposit is 825 metres long, has an average width of 25 metres and dips to 200 metres depth, where the resource remains open.


Background

Sayona is focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors.

The company’s project portfolio consists of lithium and graphite projects in Australia, Canada and Brazil.

The portfolio consists of:

- Recently acquired Authier lithium project (Canada);
- Pilbara lithium project (Western Australia);
- Mt Edon lithium project (Western Australia);
- East Kimberley graphite project (Western Australia); and
- Itabela graphite project (Brazil).

Sayona most recently expanded its Pilbara lithium project through a new tenement application in the Moolyella district of the Pilbara region.

This new 61 square kilometre project area will increase the company’s total presence in the Pilbara region to 1,047 square kilometres.


Analysis

The five month work program commencing on Authier shows the company has set a path to completing a pre-feasibility study.

The pre-feasibility study will then allow Sayona to progress further towards production by completing a definitive feasibility study, mining licence applications and offtake contracts.

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

Extensive metallurgy has already been completed achieving an 85% recover of 5-6% lithium concentrate using a conventional processing route.

The CAD$4 million acquisition cost represents a valuation of $47 per tonne of lithium resource.

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

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Mon, 15 Aug 2016 11:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165269/sayona-mining-ltd-continues-to-advance-recent-lithium-acquisition-70437.html
<![CDATA[News - Sayona Mining Ltd expands lithium portfolio in Pilbara region ]]> http://www.proactiveinvestors.com.au/companies/news/165268/sayona-mining-ltd-expands-lithium-portfolio-in-pilbara-region-70348.html Sayona Mining Ltd (ASX:SYA) has made a new tenement application in the Moolyella district of the Pilbara region of Western Australia.

This new 61 square kilometre project area will increase the company’s total presence in the Pilbara region to 1,047 square kilometres.

The new project area has not been previously explored for lithium and is located within a district known for hosting spodumene bearing pegmatites.

Mapping and airborne magnetics indicate that lithium pegmatites in the known Moolyella Tin Field are associated with structures located within the new application.

These targets will be the focus of initial exploration.


Background

Sayona is focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors.

The company’s project portfolio consists of lithium and graphite projects in Australia, Canada and Brazil.

The portfolio consists of:

- Recently acquired Authier lithium project (Canada);
- Pilbara lithium project (Western Australia);
- Mt Edon lithium project (Western Australia);
- East Kimberley graphite project (Western Australia); and
- Itabela graphite project (Brazil).


June quarter highlights

During the June quarter, Sayona completed the acquisition of the Authier lithium project for CAD$4 million.

Lithium exploration in Western Australia also commenced with rock samples, soil samples and stream samples.

At the Mt Edon lithium project, over 70 pegmatites were identified over a 4 kilometre zone.

A total of 95 rock samples were collected and returned assays up to 1.57% lithium.

Sayona also completed its maiden drill program at Itabela drilling 49 holes for 2,440 metres, highlights include:

- 77 metres at 2.9% total graphitic content from 7 metres;
- 26 metres at 4.01% total graphitic content; and
- 43 metres at 3.14% total graphitic content.


Authier lithium acquisition

Sayona recently completed the CAD$4 million acquisition of the Authier lithium project located in the top tier mining jurisdiction of Quebec, Canada.

The company’s primary strategy is to focus on completing the studies required to commence the development of the project.

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

The project contains the Authier deposit with a JORC Resource Estimate of 9.12 million tonnes grading 0.96% lithium for 87,302 tonnes of lithium.

The deposit is 825 metres long, has an average width of 25 metres and dips to 200 metres depth, where the resource remains open.

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

Extensive metallurgy has been completed achieving an 85% recover of 5-6% lithium concentrate using a conventional processing route.

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

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

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Wed, 10 Aug 2016 08:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165268/sayona-mining-ltd-expands-lithium-portfolio-in-pilbara-region-70348.html
<![CDATA[News - Sayona Mining Ltd completes acquisition of Authier lithium in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/143759/sayona-mining-ltd-completes-acquisition-of-authier-lithium-in-canada-69957.html Sayona Mining Ltd (ASX:SYA) has completed the CAD$4 million acquisition of the Authier lithium project located in the top tier mining jurisdiction of Quebec, Canada.

The company’s primary strategy is to focus on completing the studies required to commence the development of the project.

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

Corey Nolan, CEO, commented: “The company is pleased to have completed the acquisition of an advanced lithium project with JORC resources.

“The company is now preparing for the rapid completion of a pre-feasibility study, a final campaign of resource definition drilling required to complete a Bankable Feasibility Study and securing off-take for the spodumene concentrate”


Authier lithium project

The Authier project is located in Quebec, Canada, which hosts a well-developed mining industry and a number of large high-grade lithium deposits.

The project contains the Authier deposit with a JORC Resource Estimate of 9.12 million tonnes grading 0.96% lithium for 87,302 tonnes of lithium.

The deposit is 825 metres long, has an average width of 25 metres and dips to 200 metres depth, where the resource remains open.

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

Extensive metallurgy has been completed achieving an 85% recover of 5-6% lithium concentrate using a conventional processing route.


Authier next steps

Sayona’s strategy is to develop Authier in a staged approach, including:

- Completion of further metallurgical testing for an updated pre-feasibility study;
- Converting inferred mineral resources to measured and indicated through drilling;
- Converting mineral resources to reserves;
- Exploring for extensions to existing mineral resources and additional regional mineralisation;
- Consolidating other potential resources in the district;
- Studying options for improving the project economics, including cost reduction, metallurgical optimisation and downstream processing options;
- Completion of an environmental impact statement and bankable feasibility study;
- Negotiating production off-take agreements; and
- Sourcing development finance and constructing the project.


Unlocking value

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.

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 21 Jul 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/143759/sayona-mining-ltd-completes-acquisition-of-authier-lithium-in-canada-69957.html
<![CDATA[News - Sayona Mining Ltd secures funds for lithium acquisition in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/143756/sayona-mining-ltd-secures-funds-for-lithium-acquisition-in-canada-69913.html Sayona Mining Ltd (ASX:SYA) has successfully completed the accelerated institutional rights issue component of its $7.1 million capital raising.

The successful completion of the rights issue means that Sayona will have the required funds to proceed with the acquisition of the Authier lithium project in Canada.

The total $7.1 million capital raising consists of a completed $4.2 million placement and a partially complete $2.9 million rights issue.

The rights issue consists of a $1.9 million accelerated component, now complete, and a $1 million retail component in progress.

The $2.9 million rights issue component of the capital raising is fully underwritten.


Use of funds

Funding will be used for:

- The CAD$4 million acquisition of Authier;
- Feasibility work on Authier;
- Exploration of Australian projects; and
- Administration and working capital expenses.


Authier lithium acquisition

The Authier project is located in Quebec, Canada, which hosts a well-developed mining industry and a number of large high-grade lithium deposits.

The project contains the Authier deposit with a JORC Resource Estimate of 9.12 million tonnes grading 0.96% lithium for 87,302 tonnes of lithium.

The deposit is 825 metres long, has an average width of 25 metres and dips to 200 metres depth, where the resource remains open.

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

Extensive metallurgy has been completed achieving an 85% recover of 5-6% lithium concentrate using a conventional processing route.


Next steps

The key milestones for the Authier deposit include:

- Finalise pre-feasibility study;
- Convert resources to reserves through drilling;
- Explore and drill for extensions to known mineralisation;
- Complete a bankable feasibility study;
- Negotiate off-take and financing; and
- Proceed with construction and operation.


Value opportunity

The CAD$4 million acquisition cost represents a valuation of $47 per tonne for Authier.

Current lithium resource developers such as Altura Mining Ltd (ASX:AJM) and Pilbara Minerals Ltd (ASX:PLS) are valued at circa $600 per tonne lithium and lithium producer Galaxy is valued at $1,457 per tonne lithium.


Infrastructure

Authier is located in a major mining district with well-established development infrastructure.

It is located 50 kilometres by road to the Quebec lithium plant.

The project has access to low cost hydro power, road, rail and an experienced local mining workforce.


Analysis

The successful acquisition of Authier will transform Sayona into an established ASX lithium player.

Due to the advanced stage of the lithium project, the acquisition of Authier will progress Sayona directly to the appraisal stage of project development.

The acquisition leverages Sayona to a lithium project with near term development and cash flow potential.

A significant value proposition exists due to the low $47 per tonne purchase price valuation and the opportunity for uplift through progressing the project to the development stage.

This purchase will see Sayona avoid expenditures for already completed exploration, drilling, metallurgy and studies. A total of 123 holes for 15,000 metres have been drilled at Authier.

The project is located in a world class mining jurisdiction with access to developed infrastructure.


Background

The Authier acquisition will complement Sayona’s current portfolio of lithium and graphite exploration projects.

This supports the company’s objective of sourcing and developing raw materials required for lithium-ion batteries.

Sayona entered the lithium space by compiling 843 square kilometres of exploration tenure in Western Australia.

The majority of this tenure is in the Pilbara region.

Sayona also owns two graphite projects, the East Kimberley project in Western Australia and Itabela project in Brazil.

 

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