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ELEVRA LITHIUM LIMITED — Interim / Quarterly Report 2014
Oct 30, 2013
64838_rns_2013-10-30_88adcd22-0f2c-47a2-93a5-66cac33eacc8.pdf
Interim / Quarterly Report
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Suite 68 283 Given Terrace Paddington Qld 4064 Australia
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ABN 26 091 951 978
Telephone: +61 7 3369 7058 E-mail : [email protected] Postal Address: PO Box 1357 Milton Qld 4064 Web: www.sayonamining.com.au
Company Announcements Australian Securities Exchange
31 October 2013
QUARTERLY REPORT – SEPTEMBER 2013
HIGHLIGHTS
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Sayona Mining Limited reinstated to official quotation on the ASX
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$2 Million placement completed
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Field work commenced on Wills Creek project in the Mount Isa Inlier
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Actively seeking an advanced exploration/development project
CORPORATE
During the quarter Sayona continued working through its restructuring plan and setting the Company up to restore value to shareholders.
In July, the Company completed a fully underwritten $2 million capital raising and was reinstated to official quotation on the Australian Securities Exchange.
The Company is actively assessing projects on a worldwide basis with a view to acquiring an advanced exploration/development project to add to its portfolio of assets.
EXPLORATION & PROJECT ACTIVITY
During the quarter field work commenced on the Wills Creek project, a joint venture with Superior Resources Limited (SPQ) in Northwest Queensland.
Under the terms of the joint venture, Sayona may earn a 50% interest in EPM 17012 by spending $500,000 on exploration over an initial 2 year period and can earn up to 75% by incurring an additional $1.5 million of exploration expenditure over the next 2 years.
The joint venture area is prospective for rare earth minerals and copper. Previous sampling of strongly ferruginous material within EPM17012 by SPQ yielded anomalous rare earth values totalling 0.76 % rare earth oxides (TREO) and copper of 1,110 ppm.
Field work comprising geological mapping and geochemical sampling was commenced late in the quarter. Results from this work are expected shortly.
For more information, please contact:
Dan O’Neill Paul Crawford [email protected] pcrawford@sayonamining .com.au 0407 596 942 0416 104 633