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 Mining's (SYA) recently completed technical report has highlighted the potential of its Tansim Lithium Project in Quebec
  • Pleasingly, discovering the exploration potential for albite-spodumene pegmatites follows the project's recent expansion to 15,907 hectares
  • To test the lithium project's potential, Sayona will allocate about C$1.6 million (roughly A$1.65 million) to a 5000-metre drilling program
  • The company may also conduct a second phase program to include a mineralogical study, metallurgical test work and a mineral resource estimate
  • Sayona's shares are up 25 per cent to trade at 4 cents

Sayona Mining (SYA) has completed a Canadian National Instrument (NI) 43-101 technical report for its Tansim Lithium Project which is located in Quebec.

These reports are part of a mineral resource classification scheme used to present information about mineral properties. The completion follows the lithium project's recent expansion to 15,907 hectares and comprising 275 claims.

Pleasingly, the NI 43-101 report concluded the Tansim Lithium Project has strong exploration potential to increase the size of albite-spodumene pegmatites which remain open at depth.

"The confirmation of Tansim's high exploration potential is extremely welcome following our recent expansion of the project," Managing Director Brett Lynch said.

Tansim is located 82 kilometres from Sayona's Authier Project and hosts pegmatites across the Viau and Viau-Dallaire prospects, which were discovered in the 1950s. However, these areas have seen little exploration until recently.

Sayona plans to spend about C$1.6 million (roughly A$1.65 million) on a 5000-metre drilling program. It may also conduct a second phase program to include a mineralogical study, metallurgical test work and a mineral resource estimate.

"We see Tansim becoming a key component of our vision for a world-scale lithium hub in the Abitibi region, uniquely located to service the North American lithium market," Brett concluded.

Sayona's shares are up 25 per cent to trade at 4 cents at 11:48 am AEDT.

SYA by the numbers
More From The Market Herald
Magnum Mining and Exploration (ASX:MGU) - The Market Herald

" Magnum Mining and Exploration (ASX:MGU) shares up on “green iron” progress

Magnum Mining and Exploration (MGU) shares closed today’s trading session in the green after updating the market on its “green iron” project.
Horizon Minerals (ASX:HRZ) - Managing Director, Jon Price - The Market Herald

" Horizon Minerals (ASX:HRZ) updates Kalpini mineral resource

Horizon Minerals (HRZ) has updated the mineral resource estimate (MRE) for the Kalpini Gold Project in Western Australia.
Eagle Mountain Mining (ASX:EM2) hits four mineralised lodes at Oracle Ridge

" Eagle Mountain Mining (ASX:EM2) taps institutional investors for $16m

Eagle Mountain Mining (EM2) is set to raise $16 million from institutional investors to fund drilling activities at the company’s Oracle Ridge Copper
Red Dirt (ASX:RDT) shares soar on Mt Ida lithium results

" Red Dirt (ASX:RDT) shares soar on Mt Ida lithium results

Red Dirt Metals (RDT) shares have surged on reports of high-grade lithium results from historic drilling and surface rock chips within the Mt