Sayona Mining confirms thick high-grade lithium intercepts with drilling at Moblan JV in Canada

Sayona Mining (ASX: SYA) has confirmed that new results from its 2024 drilling campaign at the Moblan joint venture (JV) lithium project in Canada have demonstrated a down-dip expansion of the pegmatite system.

The completion of 99 holes for a total of 28,514 metres collected in-fill data the company hopes will support the potential upgrade of categories defined in the 2024 mineral resource estimate (MRE).

The results included multiple intercepts of thick and high-grade lithium mineralisation outside of the mineral resource pit shell and highlighted the potential to expand the resources at depth.

Best results

Best assays were 43.6m at 1.75% lithium oxide from 107m, 46.3m at 1.72% from 126.25m, 50.35m at 1.8% from 239m and 82.8m at 1.35% from 277.3m.

Lithium mineralisation within the current pit shell demonstrated strong continuity in grade and thickness and supported the potential conversion of inferred resources to the indicated and measured categories.

Best intercepts from in-pit conversion drilling were 63.3m at 1.49% lithium oxide from 51.15m, 53.45m at 1.96% from 240m and 48.8m at 1.59% from 102.4m.

James Bay centrepiece

Sayona chief executive officer Lucas Dow said the new drilling results reinforced Moblan’s status as the centrepiece of the company’s Eeyou-Istchee James Bay hub in northern Québec.

“Moblan continues to emerge as a world-class lithium deposit with significant scale and growth potential and these results further confirm the consistency of high-grade mineralisation across key zones, highlighting strong potential for resource expansion and upgrades,” he said.

“We are confident that Moblan will play a central role in meeting the growing global demand for lithium and delivering long-term value to our shareholders.”

Pending assays

Mr Dow said assays were pending for an additional 116 drill holes over 38,953.4m, targeting lateral and vertical extensions of the Moblan deposit.

The company expects to receive these results over the coming months and will look to incorporate them into a future MRE.

The Moblan project is a JV between Sayona (60% equity) and Canadian government agency Investissement Québec (40%).