Total
0
Shares
Sayona Mining (ASX:SYA) - Managing Director, Brett Lynch (right) - The Market Herald
Managing Director, Brett Lynch (right)
Source: Sayona Mining
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sayona (SYA) is widening its Canadian lithium project, Tansim, and has completed an airborne survey of its WA based gold projects
  • The lithium project in Québec has increased in size by 27 per cent after the acquisition of another 75 claims, taking its total project area to 20,256 hectares
  • A 26-hole diamond drilling program for 4200 metres is planned, with the aim to expand the lithium mineralisation at the Viau-Dallaire prospect and support a mineral resource estimate
  • In WA, a 3900-line-kilometre airborne magnetic survey, with 50-metre spaced flight lines, was conducted over the company's Pilbara gold project
  • Final data is expected this month, and the information gathered will help to refine drill targeting of known anomalies and identify other features of interest at the Deep Well and Mt Dove projects
  • Shares are 2.7 per cent higher at 3.8 cents each

Sayona (SYA) is widening its Canadian lithium project, Tansim, and has completed an airborne survey of its WA based gold projects.

Tansim Project

The company has increased its lithium project in Québec by 27 per cent after acquiring another 75 claims, taking its total project area to 20,256 hectares.

The new claims secure prospective areas, marginal to the Réservior Decelles Batholith, a suite of monzogranite intrusions typical of the parent magma associated with spodumene bearing pegmatite systems.

Last month, Sayona announced a plan to raise $20 million via an entitlement issue, funds of which would go partly towards development at Tansim.

The expansion comes on the back of the Canadian National Instrument 43-101 technical report, which highlighted exploration potential for lithium pegmatites across the project, with drilling planned at the Viau-Dallaire and Viau prospects.

Sayona notes that the new claims cover a similar stratigraphy to the Viau and Viau-Dallaire prospects.

The company has planned a 26-hole diamond drilling program for 4200 metres at the project.

Further, an exploration target for the Viau-Dallaire prospect has been estimated at between 5 million tonnes and 25 million tonnes, at an estimated grade of 1.2-1.3 per cent lithium oxide.

The drill program aims to expand the lithium mineralisation at the prospect and provide information for a mineralogical study and metallurgical testwork to support a mineral resource estimate.

Western Australian gold

On Sunday, Sayona commissioned Magspec Airborne Surveys to conduct a 3900-line-kilometre airborne magnetic survey, with 50-metre spaced flight lines over its Pilbara project.

The project includes gold rights to nine tenements covering 824 square kilometres, which are said to be prospective for intrusion-related gold mineralisation, similar to De Grey's (DEG) nearby Hemi discovery.

To date, Sayona's portfolio remains effectively untested for its gold potential with large areas masked by surficial cover.

The airborne magnetic survey covered the Deep Well project and part of the Mt Dove project.

An interpretation of previous magnetic data, carried out to identify discrete, high-intensity features typical of that displayed at the Hemi discovery, has identified a number of features at both the Deep Well and Mt Dove projects.

A total of 96 orientation soil samples have been collected over three magnetic features at the projects. Analysis by LabWest using the CSIRO /MRIWA ultrafine technique returned results below the lower detection limit of gold.

Further orientation sampling is planned after the northern wet season to advance the use of geochemistry as a method of prioritising magnetic targets for
drill testing.

The final data from the airborne magnetic survey is expected this month, with the information gathered helping to refine drill targeting of known anomalies and identify other features of interest.

Further, the results will help shape plans for additional surveying over the other Pilbara gold projects to allow for drill testing during the 2021 season.

Shares are 2.7 per cent higher at 3.8 cents each at 11:52 am AEDT.

SYA by the numbers
More From The Market Herald
Queensland Pacific Metals (ASX:QPM) - Managing Director, John Downie (left) and CEO, Stephen Grocott (right) - The Market Herald

" Queensland Pacific Metals (ASX:QPM) closes $3M oversubscribed SPP early

Queensland Pacific Metals (QPM) is closing its share purchase plan (SPP) early, after being “overwhelmed” with applications.
Quantum Graphite (ASX:QGL) renews Sunlands agreement

" Mineral Commodities (ASX:MRC) enters exclusive non-binding MOU with Superior Graphite

Mineral Commodities (MRC) has entered into an exclusive non-binding memorandum of understanding (MOU) with Superior Graphite.
Krakatoa Resources (ASX:KTA) - Exploration Manager, Erik Conaghan - The Market Herald

" Drilling underway at Krakatoa Resources’ (ASX:KTA) Rand Gold Project

Krakatoa Resources (KTA) has commenced a 10-hole reverse circulation drilling round at its Rand Gold Project in New South Wales.
Iron ore briefly surged 5.4 per cent yesterday to an all-time high of $US121.93

" Orocobre (ASX:ORE) records strong quarterly sales amid climbing lithium prices

Orocobre (ORE) has recorded strong quarterly sales following a successful sales campaign and solid market demand for lithium carbonate from its Olaroz facility