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Sayona Mining Ltd.
Summary
| Project: | Authier | |
|---|---|---|
| Deposit: | Authier | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 2/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-2-2017: Sayona Mining Ltd. announces a Resource Estimation report for its Authier deposit at the Authier project. Initial ore reserve for Authier lithium project. Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce a mai | |
| Resources: | (Reserve, P+P): 10.2Mt @ 1.02%Li2O for 103725t Li2O contained at project | |
| CP/QP: | [Resources]: Dr. Gustavo Delendatti (Independent) | |
| ABSTRACT: | Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce a maiden Ore Reserve estimate based on the positive outcome of the Pre-Feasibility Study (“PFS”) for the development of the Authier lithium project in Quebec, Canada. The PFS which is the subject of a separate announcement made today, demonstrates the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing spodumene concentrate. The positive PFS demonstrates the opportunity to create substantial long-term sustainable shareholder value at a manageable capital cost. The positive PFS is considered sufficient to determine, in accordance with the JORC Code 2012, that a subset of the Measured and Indicated Mineral Resource (please see ASX announcement “Authier Lithium Project JORC Resource Significantly Expanded”, 23 November 2016) be classified as Ore Reserves. The PFS demonstrates that a viable mining and processing operation, and the infrastructure to support this, are available to develop the project. The PFS takes into account all the modifying factors considered material to the development of the project and statement of Ore Reserves. The inputs into the economic and financial analysis were based on realistic assumptions of technical, engineering, operating and economic factors. The capital and operating cost estimates were obtained from reputable consulting groups at the appropriate level of confidence for the PFS. The PFS recommends advancing the project to the next study phase in conjunction with a number of optimisation programs, including additional definition and expansion drilling, further geotechnical and metallurgical test-work, and consideration of other downstream value-adding opportunities. | |
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