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Sayona Mining Ltd.

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Summary

Project:

Authier

Deposit:Authier
Location:Canada
Commodities:Lithium
Date:10/24/2016
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:24-10-2016: Sayona Mining Ltd. announces an Exploration/Drilling Update report for its Authier deposit at the Authier project. Drilling results incl. 62m @ 1.35% Li2O from 12m. Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to ann
Resources:(Resource, Total): 9.12Mt @ 0.96% Li2O for 87302t Li2O contained at project
CP/QP:[Overall Report]: Dr. Gustavo Delendatti (Independent)
ABSTRACT:Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce the assay results from its first diamond drill holes at the Authier lithium project, Quebec. The aim of the drilling program is to increase the size of the resource and improve the confidence level of the JORC resource categories. The first two drill holes were planned to test the geometry of the Authier pegmatite at shallow levels in the eastern sector and increase the resource category from indicated to measured. More than 3,300 metres of drilling has been completed in 16 diamond holes. The drilling has intersected significant zones of spodumene mineralisation and extended the areas of known mineralisation. The Company believes the new drilling has the potential to expand the size of the existing JORC Resource, and mineralisation remains open in all directions. In addition, the discovery of a second pegmatite body, located 400 metres north of the Authier pegmatite, highlights the potential for discovering new pegmatites within the large tenement package. The new pegmatite, not visible from the surface, was intersected at shallow levels between 15 metres to 21 metres downhole depth and contained visible spodumene mineralisation Corey Nolan, Chief Executive Officer, commented “The Company is very encouraged by the widths and high-grade nature of the mineralisation intersected in the drilling. The Company believes the new drilling will have the potential to expand the size of the JORC resource at the completion of the program. The new resource will be incorporated into the pre-feasibility study which is currently underway”.

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