https://www.miningweekly.com

Sayona gains ground in WA

14th January 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Sayona Mining has exercised its option to acquire the Western Iron tenement, at the East Kimberley graphite project, in Western Australia. The company said on Thursday that it would pay A$200 000 for the tenement.

The East Kimberley project included one granted tenement and three separate tenement applications, covered by two option-to-purchase agreements. The project covered 278 km2 and comprised the Keller and Corkwood areas, which had not previously been explored for graphite potential.

With the company exercising its option to acquire the Western Iron tenements, Sayona would also be responsible for paying a 1% gross production royalty to the tenement owner Western Iron Ore, which would also maintain a back-in right to the nickel, copper and iron mineralisation by paying A$100 000 within the next 12 months.

Sayona recently completed a drilling programme at the Corkwood area, comprising 33 reverse circulation drill holes covering six prospective areas.

The company noted that every hole intersected visual flake graphite mineralisation, with significant zones of over 50 m downhole widths in several holes.

The company’s drilling programme had identified graphite mineralisation over 7 km within the 25 km strike extent of the Corkwood geochemical and geophysical anomaly.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION