Sayona Mining Ltd: Advances Exploration Activity in Canada & Australia

Brisbane, Australia - Emerging lithium miner Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:DMNXF) has strengthened its project pipeline, with the Company acquiring further prospective lithium acreage at its Tansim Lithium Project in Quebec, Canada in addition to undertaking an airborne magnetic survey over gold targets in Western Australia.

Highlights

- 27% increase in size of Sayona's Tansim Lithium Project in Quebec, Canada following acquisition of 75 additional claims, taking total project area to 20,256 ha of prospective lithium acreage

- In Western Australia, 3,900 line km airborne magnetic survey completed to advance gold drill targets at Deep Well and Mt Dove projects

- Increased exploration activity follows strong outlook for both lithium and gold, as Sayona invests in upgrading its Canadian lithium resource base and increasing the value of its West Australian gold and lithium projects.

In Quebec, Sayona has acquired an additional 75 claims at its emerging Tansim Lithium Project, which is located just 82 kilometres south-west of the Company's flagship Authier Lithium Project. Tansim now encompasses 350 claims spanning 20,256 ha, a 27% increase in prospective lithium acreage following additions earlier in March (refer ASX release 11 March 2021).

The recently completed Canadian NI 43-101 report (refer ASX release 18 March 2021) determined high exploration potential for lithium pegmatites across the project, with resource drilling planned at Tansim's Viau-Dallaire and Viau prospects.

In Western Australia, drill targeting at the Deep well and Mt Dove projects has advanced with the commissioning and completion of geophysical surveying, targeting anomalies typical of the nearby Hemi gold discovery of De Grey Mining.

The moves follow a strong outlook for lithium in North America amid the electric vehicle (EV) and battery storage revolution, with Sayona's Pilbara gold assets adding further potential upside to the Company's international asset base.
Sayona's Managing Director, Brett Lynch commented: "The additional Tansim claims will further enhance the critical mass of the Tansim project and strengthen Sayona's push to become a world-scale spodumene producer based on our Abitibi lithium hub, with the potential for downstream processing. With investor confidence growing in the future of the North American EV and battery sector, these are quickly becoming highly valuable and strategic assets.

"We are also keen to advance exploration across our Western Australian portfolio, given favourable gold prices and the success shown by nearby explorers. These gold projects add to the potential of our lithium portfolio in the world-class Pilgangoora lithium district."

The new Tansim claims (see Figure 1 below*) are situated on the northern and south-east flank of the project. They secure prospective areas marginal to the Reservior Decelles Batholith, a suite of monzogranite intrusions typical of the parent magma associated with spodumene bearing pegmatite systems at a worldwide scale.

The new claims also cover a similar stratigraphy to the Viau and Viau-Dallaire prospects. It is anticipated new tracks traversing the area will allow rapid and efficient exploration for spodumene pegmatites over the new area.

A 26 diamond drill drilling program for 4,200m is planned for Tansim, with some 3,400m at the Viau-Dallaire prospect and approximately 800m at the Viau prospect. An Exploration Target (refer note below) for the Viau-Dallaire prospect has been estimated at between 5 million tonnes and 25 million tonnes, at an estimated grade of 1.2-1.3% Li2O (refer ASX release 19 November 2019).

Note: The potential quantity and grade of the Exploration Target is conceptual in nature and is therefore an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in an estimation of a Mineral Resource.

The planned drilling aims to expand the lithium mineralisation at Viau-Dallaire and provide material for mineralogical study and metallurgical testwork to support a Mineral Resource estimate.

West Australian exploration

Sayona's Pilbara project includes gold rights to nine tenements covering 824 sq km. These are considered prospective for intrusion-related gold mineralisation, similar to that of De Grey Mining's nearby Hemi discovery. This style of mineralisation is hosted within altered late stage hi-Mg diorites of the Indee Suite.

Sayona's tenement portfolio remains effectively untested for its gold potential with large areas masked by surficial cover. Interpretation of magnetic data, carried out to identify discrete, high intensity features typical of that displayed by the Hemi discovery, has identified a number of features at the Mt Dove, Deep Well, West Wodgina and Tabba Tabba East projects.

Sayona has commissioned Magspec Airborne Surveys to complete a high resolution 3,900 line km airborne magnetic survey, with flight lines at 50m spacing. This survey, completed on 4 April 2021, covered the entire area of the Deep Well project and part of the Mt Dove project, where high resolution data is not available. These tenements are in close proximity to De Grey Mining's Mallina gold project which includes Hemi (see Figure 2 below*).

At Deep Well, interpretation of publicly available broad spaced magnetics data has identified 18 magnetic features. These are located over sand covered sediments of the Mallina Basin and late-stage intrusions of the Portree Suite.

Past exploration carried out by diamond explorers has investigated three of the magnetic features, recognising their discreet nature and intensity as potential kimberlite intrusions. Limited drill testing failed to identify the source of the magnetic features but identified pyritic Mallina sediments and granite in bedrock. No drill cuttings were sampled for gold and the source of the magnetic anomaly is unresolved.

It is anticipated Sayona's high resolution survey will help effective planning and drill testing of the current anomalies, as well as potentially identifying further targets.

Geochemical Orientation

A total of 96 orientation soil samples have been collected over three magnetic features at the Deep Well and Mt Dove projects. Analysis by LabWest using the CSIRO /MRIWA ultrafine technique has been completed, with results ranging from below the lower detection limit (0.5ppb Au) and 5.6ppb Au.
The subdued sample results are typical of geochemical results over the transported, largely sand blown sand which covers much of the tenement areas. Further orientation sampling is planned after the northern wet season to advance the use of geochemistry as a low-cost method of prioritising magnetic targets for drill testing.

Next Steps

The final data from the airborne magnetic survey is anticipated to be delivered in early April. Analysis of this information will help refine drill targeting of the known anomalies and identify further features of interest. Heritage surveying and statutory requirements to allow drilling to take place can then be advanced.

The results will also help frame plans for additional geophysical surveying over the remainder of the Pilbara gold projects, including the Tabba Tabba area in the east, so that combined with geological mapping and sampling, work to allow drill testing can proceed in these areas during the 2021 season.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/M259X4R1

About Sayona Mining Ltd:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) is an Australian, ASX-listed (SYA) company 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 has lithium projects in Quebec, Canada and in Western Australia.

Please visit us as at www.sayonamining.com.au

Source:
Sayona Mining Ltd.

Contact:

Brett Lynch Managing Director Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au