Sign up Australia
Proactive Investors - Run By Investors For Investors

Sayona Mining to drill lithium targets in world-class Pilgangoora district

Permitting is complete and government co-funding has been awarded with drilling to start next month.
Lithium-ion battery
Sayona is focused on the supply of raw materials for lithium-ion batteries

Sayona Mining Ltd (ASX:SYA) will start drilling spodumene pegmatites next month at the Mallina Lithium Project in the world-class Pilgangoora lithium district of Western Australia.

Permitting is complete and WA government co-funding has been awarded for the 20-hole, 2,500-metre drilling program.

The program is designed to test the 1,400-metre strike extent of the Area C prospect and other spodumene pegmatites.

Sampling returns up to 4.6% Li2O

Rock chip sampling in this area has returned spodumene mineralisation of up to 4.6% Li2O.

Managing director Dan O’Neill said: “The company is encouraged by the strong lithium mineralisation at Area C and having been awarded a grant of drill co-funding, providing confirmation of the high calibre of the targets at Mallina.

“World-class province”

“Western Australia is a world-class province for the discovery of spodumene pegmatites with excellent infrastructure and in close proximity to the Chinese converter markets.

“The drilling program is consistent with the company’s strategy to realise value from its large portfolio of lithium prospects in Western Australia.”

Sayona's lithium prospects in the Pilbara region.

Shares up almost 16%

Sayona is trading up almost 16% to 3.7 cents intra-day.

There are multiple areas of spodumene-bearing pegmatites within a 20 square kilometre zone at the Mallina project.

The incentive scheme grant, funded by the WA State Government, allows a 50% rebate on direct drilling costs, up to a maximum of $150,000.

Focus on three Pilbara projects

Sayona is focusing exploration within its Pilbara lithium property on the Mallina, Tabba Tabba and Moolyella projects.

Each of these areas has high prospectivity and hosts newly discovered fractionated LCT lithium prospective pegmatite systems.

First pass drilling is also planned at Tabba Tabba, where statutory approval to test three pegmatite targets has been completed.

Additional exploration at the project is being expedited following the discovery of spodumene pegmatite in adjacent tenure.

READ: Sayona Mining shares surge on completing environmental studies for Authier Lithium Project

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.

Its primary focus is development of the Authier Lithium deposit in Quebec, Canada, however, exploration for additional lithium deposits is ongoing in the Authier region and in the Pilbara region of Western Australia.

View full SYA profile View Profile

Sayona Mining Ltd Timeline

Related Articles

Cobalt sample on the periodic table
May 23 2018
One of Australia’s few potential cobalt producers from sulphide-based deposits, where cobalt production is underpinned by copper and gold.
Kola may have more than 1bn tonnes
August 20 2018
A first mineral resource estimate (MRE) for the Dongou Extension deposit had identified 232mln tonnes grading at 38.1% sylvinite (KCl)
dollar and gold
Wishbone Gold's unique business model is now beginning to bear fruit

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use