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Sayona Mining Ltd.
Summary
| Project: | Authier | |
|---|---|---|
| Deposit: | Authier | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 6/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-6-2017: Sayona Mining Ltd. announces a Resource Estimation report for its Authier deposit at the Authier project. 88% of new resource in measured and indicated category. Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announc | |
| Resources: | (Resource, Total): 17.4Mt @ 1.02% Li2O for 177212t Li2O contained at project | |
| CP/QP: | [Resources]: Not stated (Not stated) | |
| ABSTRACT: | Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce an updated independent JORC Mineral Resource estimate for the Authier lithium project. The expanded, JORC 2012 compliant Mineral Resource estimate, tabulated below, follows the recently completed 4,100 metre phase 2 drilling program. The contained lithium oxide Mineral Resource has increased by 21% from 146,700 tonnes to 177,212 tonnes compared to the November 2016 estimate. The Measured and Indicated Mineral Resource categories represent 88% of the total Mineral Resource estimate. Following the completion a Pre-feasibility Study in February 2017, the Company has adopted a 0.45% Li20 cut-off grade compared to the 0.5% Li20 cut-off used in historical resource estimates. The Mineral Resource has been estimated and reported in accordance with the guidelines of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). A summary of the estimation methodology and competent person statement is included in this announcement. Corey Nolan, Chief Executive Officer, commented, “The expanded resource estimate will extend the mine life beyond the 13 years outlined in the February 2017 Pre-Feasibility Study. The Company is now focused on a number of optimisation programs to incorporate into an Updated Pre-feasibility Study and Ore Reserve estimate. This is expected to improve the base case Authier deposit C$140 million pre-tax net present value”. | |
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