Emerging miner Sayona is ramping up its Western Australian gold exploration, with the company committing to a A$2-million budget for 2021.
Recent success in identifying 16 new target anomalies during April’s airborne magnetic surveying has encouraged the increased exploration activity.
Budgeted work is focused on testing anomalies and building the geological knowledge and potential in the search for high‐magnesium (hi-Mg) diorite intrusions, host to De Grey Mining’s nearby Hemi gold discovery.
Specifically, planned exploration activities include a reverse circulation (RC) drill testing of five magnetic features, structural targets and tests for bedrock gold anomalism at the Mt Dove Project; RC drill testing of 11 magnetic anomalies with Hemi‐style characteristics and six stocks of the Portree intrusive complex within the tenement area at the Deep Well project; as well as first geophysical surveying, geological studies, geochemistry and provisional aircore drilling, testing for hi‐Mg diorites on structural corridors paralleling the Tabba Tabba shear zone.
Geophysical surveying to advance geological and drill targeting will also take place at Wodgina and other areas.
Sayona MD Brett Lynch said on Monday that Sayona was keen to advance its Australian gold business exploration activities to unlock further value for shareholders, in addition to the miner’s flagship lithium projects in Canada.
“Our Pilbara gold projects all lie within a 10 km to 50 km radius and encircle the expanding Hemi, which is shaping up to be a large footprint, world‐scale deposit. With our recent efforts to identify drill targets, we look forward to advancing this exploration activity and unlocking further value for shareholders, in addition to our flagship lithium projects in Canada.”
Sayona’s investments are intended to provide investors with exposure to the accelerating electric vehicle revolution globally together with the counter‐cyclical benefits of gold, with the miner’s assets located in world‐class mining districts and stable investment jurisdictions.