PERTH (miningweekly.com) – Lithium developer Sayona Mining has reported a Joint Ore Reserves Committee-compliant combined measured, indicated and inferred mineral resource of 119.1-million tonnes, at 1.05% lithium oxide, for its assets in Quebec.
The ASX-listed company on Tuesday revealed a new mineral resource estimate for the North American Lithium (NAL) project since its acquisition in 2021, of 101.9-million tonnes, at 10.6% lithium oxide.
“This expansion is a major achievement for Sayona as we further enlarge our leading lithium resource base in North America. Since the start of 2020, we have now grown our Québec resource base nearly six times and with further increases expected soon from Moblan,” Sayona MD Brett Lynch said.
“With lithium prices surging on the back of an increasing structural supply deficit, our upcoming definitive feasibility study for an integrated NAL-Authier operation, expected in coming weeks, is set to show significantly enhanced profitability for the benefit of shareholders.”