Sayona Mining (SYA) will further expand its Québec lithium resource base with the launch of a pre-feasibility study (PFS) for the Moblan lithium project in northern Québec, Canada.
The company has a 60 per cent interest in the project, sharing it with Canadian mineral exploration company SOQUEM.
InnovExplo has been engaged to conduct the PFS as part of Sayona’s focus on maximising economic benefits for local stakeholders.
Work is expected to begin in the next few days and be completed by May 2023.
This is expected to be followed by a definitive feasibility study, with completion targeted for September 2023.
The study will examine the development of a mine and concentrator north of Chibougamau with the project as the centre of Sayona’s northern lithium hub.
Managing Director Brett Lynch said the PFS would spur the development of a new northern hub for the company.
“Since acquiring the Moblan project in October 2021, Sayona has worked to rapidly develop this project with an extensive drilling program, targeting a major expansion of our lithium resource in an area already hosting world‐scale mines,” he said.
“This study should further enhance our confidence in the quality of the Moblan project and its potential for development as a new northern base of production, adding to our North American lithium (NAL) operation and the Abitibi hub in the south.”
The project is in the Eeyou-Istchee James Bay region of northern Québec, a proven lithium mining province that hosts established world-class lithium resources including Nemaska Lithium’s Whabouchi mine.
A mineral resource foreign estimate of 12.03 million tonnes at 1.4 per cent lithium oxide has been identified at Moblan and there is potential to expand this resource based on recent drilling.
Shares in Sayona ended the day 7.84 per cent in the red to close at 23.5 cents.
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