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Sayona Mining to drill lithium targets in world-class Pilgangoora district

Permitting is complete and government co-funding has been awarded with drilling to start next month.

Lithium-ion battery
Sayona is focused on the supply of raw materials for lithium-ion batteries

Sayona Mining Ltd (ASX:SYA) will start drilling spodumene pegmatites next month at the Mallina Lithium Project in the world-class Pilgangoora lithium district of Western Australia.

Permitting is complete and WA government co-funding has been awarded for the 20-hole, 2,500-metre drilling program.

The program is designed to test the 1,400-metre strike extent of the Area C prospect and other spodumene pegmatites.

Sampling returns up to 4.6% Li2O

Rock chip sampling in this area has returned spodumene mineralisation of up to 4.6% Li2O.

Managing director Dan O’Neill said: “The company is encouraged by the strong lithium mineralisation at Area C and having been awarded a grant of drill co-funding, providing confirmation of the high calibre of the targets at Mallina.

“World-class province”

“Western Australia is a world-class province for the discovery of spodumene pegmatites with excellent infrastructure and in close proximity to the Chinese converter markets.

“The drilling program is consistent with the company’s strategy to realise value from its large portfolio of lithium prospects in Western Australia.”

Sayona's lithium prospects in the Pilbara region.

Shares up almost 16%

Sayona is trading up almost 16% to 3.7 cents intra-day.

There are multiple areas of spodumene-bearing pegmatites within a 20 square kilometre zone at the Mallina project.

The incentive scheme grant, funded by the WA State Government, allows a 50% rebate on direct drilling costs, up to a maximum of $150,000.

Focus on three Pilbara projects

Sayona is focusing exploration within its Pilbara lithium property on the Mallina, Tabba Tabba and Moolyella projects.

Each of these areas has high prospectivity and hosts newly discovered fractionated LCT lithium prospective pegmatite systems.

First pass drilling is also planned at Tabba Tabba, where statutory approval to test three pegmatite targets has been completed.

Additional exploration at the project is being expedited following the discovery of spodumene pegmatite in adjacent tenure.

READ: Sayona Mining shares surge on completing environmental studies for Authier Lithium Project

Sayona is focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors.

Its primary focus is development of the Authier Lithium deposit in Quebec, Canada, however, exploration for additional lithium deposits is ongoing in the Authier region and in the Pilbara region of Western Australia.

Quick facts: Sayona Mining Ltd

Price: 0.01 AUD

Market: ASX
Market Cap: $19.45 m

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