Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) and Sayona Mining Ltd (ASX:SYA) have confirmed the potential for a significant resource expansion at the newly acquired North American Lithium (NAL) mine in Québec, Canada.
NAL mine is 25% owned by Piedmont and 75% owned by Sayona Mining. Piedmont is Sayona’s largest shareholder with an 18.8% interest.
Diamond drilling audit
Extensive diamond drilling completed in 2019 is being integrated with other previous drill results which are being audited, with the potential to fast track an increased resource estimate and the resumption of operations at NAL.
Consultants BBA Inc have been engaged to produce an updated Canadian NI 43‐101 study of NAL’s resource base with subsequent conversion to Australia’s JORC standard by year‐end, as the basis of a scoping study for the production of spodumene (lithium) concentrate from 2023.
In 2017, NAL had a total foreign mineral resource estimate of 39.3 million tonnes at 1.04% lithium oxide, up 18% from earlier studies.
Subsequent drilling has shown the potential for a resource expansion, including results for some 42 holes of around 12,000 metres which were completed during 2019 and which are being validated for inclusion into the drill database for the first time.
Abitibi lithium hub
Sayona managing director Brett Lynch said: “Based on the extra drilling conducted since 2017, we anticipate the potential for a significant upgrade to the NAL resource base, which we aim to deliver before year‐end.
“This only adds to the opportunity at NAL, which is the centre of our expanding Abitibi lithium hub supported by our Authier and Tansim Lithium Projects.
“Our Québec team is now on‐site at NAL and progressing the feasibility study to allow us to successfully resume operations.
“We look forward to quickly getting NAL back into production, becoming North America’s leading lithium operation and supporting its clean energy revolution.”