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Sayona Mining boosts lithium bounty by 12% at Canadian project

Authier resource estimate increased to 209,476 tonnes of contained lithium oxide with 86% in the measured and indicated categories.
Authier lithium resource graph
A high proportion of the measured resource is close to the surface

Sayona Mining Ltd (ASX:SYA) has boosted its lithium bounty by 12% at the Authier Lithium Project in Quebec, Canada.

The project’s resource estimate has been increased to 209,476 tonnes of contained lithium oxide compared to the November 2017 estimate of 186,939 tonnes.

Authier’s resource now totals 20.46 million tonnes at 1.02% lithium oxide and, importantly, 86% of the new resource is in the measured and indicated categories.

READ: Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project

Sayona is encouraged by the expanded resource and believes there is potential to expand it through further drilling.

Shares are up 7% intra-day to 6 cents.

The new mineral resource will be included in the definitive feasibility study (DFS), which is underway.

Ore reserve to be compiled

After the DFS is completed a new JORC-compliant ore reserve estimate will be compiled.

About 98% of the resource is from the Authier Main deposit with the remainder from Authier North pegmatite.

The updated resource includes in-pit, infill mineralisation in the eastern and central part of the Authier Main resource.

It also includes a depth extension of the Main Authier pegmatite in the west zone.

In addition, the Northern Pegmatite resource has been expanded to include mineralisation from phase III drilling which extended the mineralised strike from 300 metres to 500 metres.

Both deposits remain open in all directions.

READ: Sayona Mining brings experienced personnel on board as it moves towards construction

A pre-feasibility study has confirmed the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility.

Authier deposit will be mined by open cut methods enhanced by the shallow and thick nature of the mineralisation, allowing spodumene ore to be processed from the start of mining.

The Authier project area comprises 20 mineral claims totalling 674.89 hectares.

It extends 3.4 kilometres in an east-west direction and 3.1 kilometres in a north-south direction.

Authier is 45 kilometres northwest of the city of Val d’Or, a major mining service centre, which is about 500 kilometres northwest of Montreal.

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