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Sayona Mining’s shares rise on conglomerate gold opportunity in the Pilbara

Global investor interest in the Pilbara has increased dramatically in recent times.
a rising bar chart
Field exploration to commence soon

Sayona Mining Ltd’s (ASX:SYA) shares are trading 16% higher intra-day as it readies a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

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

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

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

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

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

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

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

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