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Highlights:
New drilling results from Moblan joint venture show significant down-dip extension of the pegmatite system.
Multiple thick, high-grade lithium intercepts outside the current resource pit shell point to possible resource expansion.
Drilling results confirm strong continuity of lithium mineralisation, supporting upgrades to the resource categories.
Sayona Mining (ASX:SYA), listed on the Australian Stock Exchange, has revealed new results from its 2024 drilling campaign at the Moblan lithium project in Canada. The company reported that the drilling, which included a total of 28,514 metres across ninety-nine holes, has expanded the known pegmatite system further down-dip. These results aim to provide critical in-fill data that could aid in updating the resource categories outlined in the 2024 mineral resource estimate.
High-Grade Lithium Intercepts
The latest assays confirmed multiple intercepts of high-grade lithium mineralisation beyond the current mineral resource pit shell. Among the best results were long intervals of lithium mineralisation, with notable grades observed at various depths. These findings highlight the substantial scale of lithium mineralisation within the Moblan project.
Drilling results from the most recent in-pit conversion program also demonstrated strong continuity in the lithium mineralisation. These results support the view that the inferred resources might be upgraded to more definitive resource categories, offering further clarity on the project's scale and scope.
Resource Expansion and Upgrades
Sayona Mining’s focus on expanding the Moblan project’s resource base continues as drilling results suggest the potential for further growth. The thick, high-grade intercepts observed outside the existing resource pit shell contribute to the understanding of the deposit's continuity and mineralisation.
The new drilling campaign has provided valuable data that could allow for further resource upgrades. With results indicating thick intervals of lithium mineralisation, the project’s growth could extend well beyond current boundaries, possibly leading to an expansion of the mineral resource estimate.
Strategic Importance of Moblan Lithium Project
Moblan is part of Sayona Mining's broader portfolio in the Eeyou-Istchee James Bay region of northern Québec, Canada. The company's CEO emphasised the strategic significance of Moblan as a core asset within the company’s operations. Sayona's plans revolve around strengthening the project’s position in the global lithium market, meeting growing demand for the metal used in batteries and other technologies.
With consistent results showing high-grade lithium mineralisation across various zones of the deposit, Moblan is expected to play a key role in the company’s strategy for long-term growth and value creation in the sector. The focus on expanding the resource and upgrading resource categories will likely be central to future developments at the Moblan site.
Exploration in the James Bay Region
The James Bay region in Québec has gained attention for its lithium deposits, and Sayona Mining is one of the key players in the area. The company’s exploration efforts at Moblan are expected to contribute to the broader understanding of the region's lithium resources. Given the positive results from the latest drilling campaign, Sayona continues to strengthen its presence in one of the most promising lithium-producing regions in the world.
By expanding its resource base and improving the continuity of mineralisation at Moblan, Sayona Mining is well-positioned to contribute to the growing global demand for lithium, a key component in energy storage technologies and electric vehicle batteries.
