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Sayona Mining Ltd.
Summary
| Project: | Authier | |
|---|---|---|
| Deposit: | Authier | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 7/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-7-2016: Sayona Mining Ltd. announces a Resource Estimation report for its Authier deposit at the Authier project. Updated mineral resource estimate for proposed Authier acquisition. Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased | |
| 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 as part of its due diligence on the proposed Authier acquisition, an independent JORC Mineral Resource estimate, totalling 9.12 million tonnes containing 87,302 tonnes of Li2O. On the 3 May 2016, the Company announced a proposed acquisition of the Authier lithium project in Quebec, Canada. Authier has a previously reported Measured and Indicated resource estimate totalling 74,000 tonnes of contained Li20, and additional Inferred resources totalling 14,899 tonnes Li20. The foreign estimate was prepared by Glen Eagle Resources Inc in a NI43-101 Technical Report, Preliminary Economic Assessment, 2013. The Company has independently undertaken a detailed audit of all the available data to verify the previous work and convert the foreign estimate to a JORC 2012 compliant Mineral Resource estimate, tabulated below at a 0.5% Li20 cut-off grade. The 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 the appendix to this announcement. The Company notes that the Canadian NI43-101 Standards of Disclosure system is broadly comparable to the JORC Code of reporting, and whilst the reporting methodologies are different, the mineral resource estimates are broadly similar. | |
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