Sayona Mining Ltd: Annual Report to Shareholders
09.10.2019 | ABN Newswire
Brisbane, Australia - Sayona Mining Ltd.'s (ASX:SYA) (FRA:DML) (OTCMKTS:DMNXF) Authier Lithium Project (Authier) is a hard rock spodumene lithium deposit scheduled for development as an open cut mine initially producing a 6% Li2O spodumene concentrate, the source of high grade, low contaminant lithium carbonate.An updated JORC Ore Mineral Resource and Reserve statement, reported in September 2018, has identified a Total Resource of 20.94 million tonnes at 1.01% Li2O, and a Proved Reserve of 12.1 million tonnes at 1.00% Li2O.
The key attraction of the project is its near-term development potential.
The Company has completed a DFS which confirmed the project's potential to become a sustainable and profitable new lithium mine. This was undertaken on the basis of a daily production limit of 2,000 t, as per the previously planned regulatory pathway.
However, the DFS is now being reviewed under a revised regulatory pathway, as announced in March 2019. The new proposed daily production limit of 2,600 t, a 30% increase on the previous limit, will position the project to pursue downstream processing opportunities.
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About Sayona Mining Ltd:
Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) is an Australian, ASX-listed (SYA) company 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. The Company has lithium projects in Quebec, Canada and in Western Australia.
Please visit us as at www.sayonamining.com.au
Source:
Sayona Mining Ltd.
Contact:
Brett Lynch Managing Director Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au