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ELEVRA LITHIUM LIMITED — Capital/Financing Update 2020
Aug 5, 2020
64838_rns_2020-08-05_b23857ad-3b67-4737-8764-f0cab86be7da.pdf
Capital/Financing Update
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6 August 2020
SAYONA EXPANDS TANSIM PROJECT AMID QUÉBEC LITHIUM DRIVE
Highlights
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Sayona expands Tansim Lithium Project, Québec to 15,998 hectares with addition of 39 claims spanning 2,234 hectares of prospective lithium acreage
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Move strengthens Sayona’s plans for development of new lithium hub in Abitibi, encompassing Authier Lithium Project, Tansim and North American Lithium (subject to successful bid)
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Québec lithium sector picking up speed, with analysts pointing to economic, strategic and environmental benefits of province as key supply source for North American battery market
Emerging lithium miner Sayona Mining Limited (ASX:SYA; OTC:DMNXF) announced today the expansion of its emerging Tansim Lithium Project, with the Company acquiring an additional 39 claims spanning 2,234 ha amid the resurgence of Québec’s lithium sector.
The Tansim project now comprises 282 mineral claims encompassing 15,998 ha of prospective lithium acreage (including claims 100% owned and some under option agreements – refer appendix), with the project located around 80 kilometres south‐west of Sayona’s flagship Authier project.
Previous exploration by Sayona since 2018 has highlighted the project’s potential to host a valuable new lithium deposit. Drilling conducted last year resulted in an Exploration Target (refer note below) for the Viau‐Dallaire prospect of between 5 million and 25 million tonnes, at an estimated grade of 1.2 – 1.3% Li2O (refer ASX release 19 November 2019).
A recent surface reconnaissance survey has highlighted a potential eastern extension of the mineralised pegmatite trend within the new mineral claims, marked by outcropping pegmatites with potential lithium mineralisation.
Note: The potential quantity and grade of the Exploration Target is conceptual in nature and is therefore an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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Following its recent successful fund‐raising (refer ASX announcement 22 July 2020), Sayona plans to undertake further exploration work at Tansim, including reconnaissance sampling at the new mine tenure area and Phase 2 drilling at the Viau‐Dallaire prospect, where a 2,000m drilling program will test the Exploration Target defined after Phase 1 drilling.
Sayona’s Managing Director, Brett Lynch said the project could form part of the Company’s planned strategic lithium hub for Abitibi, including the Authier project and potentially North American Lithium (NAL) (subject to a successful bid by the Company).
“While Tansim is still at an early stage, initial results have been promising and we look forward to exploring the project’s potential further,” he said.
“Tansim’s geographical proximity to Authier and NAL would allow it to form part of a lithium hub of three spodumene mines supplying a central concentrator, enabling Sayona to become a world‐scale spodumene producer supplying the North American battery sector.”
The expanded acreage at Tansim also follows research showing Québec’s advantages as the economic, strategic and environmental supplier of choice for the North American battery market. Research by EY‐ Parthenon has shown that Québec can deliver lithium hydroxide to Cleveland, USA at least 20% cheaper than alternative overseas suppliers, while on a CO2 emissions basis Québec projects are by far the ‘greenest’ and most efficient source of lithium supply.
Strategically, Canada is already a key supplier of critical minerals to the United States, with the growing production of electric vehicles and accompanying battery production providing increasing markets for lithium hydroxide. North America requires an additional 10 x 20 kilotonne (Kt) hydroxide processing “trains” and 12 x 150Kt spodumene mines by 2030 just to satisfy its EV demand, according to the analysis.
Québec’s competitive advantages also include access to economical and environmentally sustainable hydropower, together with world‐class infrastructure and skilled mining labour in a transparent regulatory environment.
The current transformation of the province’s lithium industry, including the court‐ordered restructuring of Nemaska Lithium together with NAL, should further enhance its long‐term sustainability and profitability.
“Sayona is confident that Québec’s advantages will make it a winner in this key industry of the 21[st] century,” Mr Lynch said.
“Our expansion plans both in Canada and Australia will ensure our Company emerges from this revival with some outstanding assets and we look forward to unlocking their potential for the benefit of all stakeholders.”
This announcement is authorised by Sayona’s Board of Directors.
‐END‐
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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Figure 1: Sayona’s Tansim project, including active claims and those under option
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Figure 2: Pegmatite outcrop with potential lithium mineralisation in one of the new claims
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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Figure 3: Hand samples of coarse grain pegmatite with potential lithium mineralisation within new claims
For more information, please contact:
Brett Lynch, Managing Director
Phone: +61 (7) 3369 7058 Email: [email protected]
For media queries, please contact:
Anthony Fensom, Republic PR [email protected]; +61 (0)407 112 623
About Sayona Mining
Sayona Mining Limited is an emerging lithium miner (ASX:SYA), with projects in Québec, Canada and Western Australia. In Québec, Sayona is progressing a bid for the North American Lithium mine with the backing of a world‐class support team, while advancing its flagship Authier Lithium Project and its emerging Tansim project.
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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In Western Australia, the Company has an earn‐in agreement with leading lithium producer Altura Mining concerning its lithium and gold exploration portfolio in the Pilbara.
For more information, please visit us at www.sayonamining.com.au
COMPETENT PERSON STATEMENT
The information in this report that relates to Exploration Results is based on information compiled by Dr Gustavo Delendatti, a member of the Australian Institute of Geoscientists. Dr Delendatti is an independent consultant, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which it is undertaking to qualify as a Competent Person as defined in the JORC Code (2012 Edition) of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.‟
Dr Delendatti was responsible for the design and conduct of this exploration drilling campaign, supervised the preparation of the technical information in this release and has relevant experience and competence of the subject matter. Dr Delendatti, as competent person for this announcement, has consented to the inclusion of the information in the form and context in which it appears herein.
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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APPENDIX
TANSIM PROJECT – TENEMENT SCHEDULE
| Tenement Id | Interest | Tenement Id | Interest | Tenement Id | Interest | Tenement Id | Interest |
|---|---|---|---|---|---|---|---|
| 1133877 | 50% | 2440851 | 50% | 2440935 | 50% | 2519275 | 100% |
| 2415443 | 50% | 2440852 | 50% | 2440936 | 50% | 2519276 | 100% |
| 2415444 | 50% | 2440853 | 50% | 2440991 | 100% | 2519277 | 100% |
| 2436732 | 50% | 2440854 | 50% | 2440992 | 100% | 2519278 | 100% |
| 2436733 | 50% | 2440855 | 50% | 2440993 | 50% | 2519279 | 100% |
| 2436734 | 50% | 2440856 | 50% | 2440994 | 50% | 2519280 | 100% |
| 2438472 | 50% | 2440857 | 50% | 2450758 | 50% | 2519281 | 100% |
| 2438473 | 50% | 2440858 | 50% | 2519251 | 100% | 2519282 | 100% |
| 2438474 | 50% | 2440859 | 50% | 2519252 | 100% | 2519283 | 100% |
| 2438475 | 50% | 2440860 | 50% | 2519253 | 100% | 2519284 | 100% |
| 2438476 | 50% | 2440890 | 50% | 2519254 | 100% | 2519285 | 100% |
| 2438477 | 50% | 2440891 | 50% | 2519255 | 100% | 2519286 | 100% |
| 2438478 | 50% | 2440892 | 50% | 2519256 | 100% | 2519287 | 100% |
| 2438723 | 50% | 2440893 | 50% | 2519257 | 100% | 2519288 | 100% |
| 2440836 | 50% | 2440894 | 50% | 2519258 | 100% | 2519289 | 100% |
| 2440837 | 50% | 2440895 | 50% | 2519259 | 100% | 2519290 | 100% |
| 2440838 | 50% | 2440896 | 50% | 2519260 | 100% | 2519291 | 100% |
| 2440839 | 50% | 2440897 | 50% | 2519261 | 100% | 2519292 | 100% |
| 2440840 | 50% | 2440898 | 50% | 2519262 | 100% | 2519293 | 100% |
| 2440841 | 50% | 2440899 | 50% | 2519263 | 100% | 2519294 | 100% |
| 2440842 | 50% | 2440900 | 50% | 2519264 | 100% | 2519295 | 100% |
| 2440843 | 50% | 2440901 | 50% | 2519265 | 100% | 2519296 | 100% |
| 2440844 | 50% | 2440902 | 50% | 2519266 | 100% | 2519297 | 100% |
| 2440845 | 50% | 2440903 | 50% | 2519267 | 100% | 2519298 | 100% |
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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| Tenement Id | Interest | Tenement Id | Interest | Tenement Id | Interest | Tenement Id | Interest |
|---|---|---|---|---|---|---|---|
| 2440846 | 50% | 2440907 | 50% | 2519268 | 100% | 2519299 | 100% |
| 2440847 | 50% | 2440908 | 50% | 2519269 | 100% | 2519300 | 100% |
| 2440848 | 50% | 2440909 | 50% | 2519270 | 100% | 2519301 | 100% |
| 2440849 | 50% | 2440919 | 50% | 2519271 | 100% | 2519302 | 100% |
| 2440850 | 50% | 2440920 | 50% | 2519272 | 100% | 2519303 | 100% |
| 2519306 | 100% | 2519321 | 100% | 2572680 | 100% | 2572699 | 100% |
| 2519307 | 100% | 2519322 | 100% | 2572681 | 100% | 2572700 | 100% |
| 2519308 | 100% | 2519323 | 100% | 2572682 | 100% | 2572701 | 100% |
| 2519309 | 100% | 2519324 | 100% | 2572683 | 100% | 2572702 | 100% |
| 2519310 | 100% | 2572665 | 100% | 2572684 | 100% | 2572703 | 100% |
| 2519311 | 100% | 2572666 | 100% | 2572685 | 100% | ||
| 2519312 | 100% | 2572667 | 100% | 2572686 | 100% | ||
| 2519313 | 100% | 2572668 | 100% | 2572687 | 100% | ||
| 2519314 | 100% | 2572669 | 100% | 2572688 | 100% | ||
| 2519315 | 100% | 2572670 | 100% | 2572689 | 100% | ||
| 2519316 | 100% | 2572671 | 100% | 2572690 | 100% | ||
| 2519317 | 100% | 2572672 | 100% | 2572691 | 100% | ||
| 2519318 | 100% | 2572673 | 100% | 2572692 | 100% | ||
| 2519319 | 100% | 2572674 | 100% | 2572693 | 100% | ||
| 2519320 | 100% | 2572675 | 100% | 2572694 | 100% | ||
| 2519321 | 100% | 2572676 | 100% | 2572695 | 100% | ||
| 2519322 | 100% | 2572677 | 100% | 2572696 | 100% | ||
| 2519323 | 100% | 2572678 | 100% | 2572697 | 100% | ||
| 2519324 | 100% | 2572679 | 100% | 2572698 | 100% |
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au