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- Sayona Mining (SYA) expands its Northern Québec lithium hub by purchasing 121 new claims west of its Moblan lithium project
- The new claims, known as the Lac Albert Project, span 6,592 hectares and will be assessed for lithium pegmatite occurrences during the upcoming northern summer
- Managing Director Brett Lynch welcomed the new claims and says it shows the company’s commitment to expanding its Northern Québec lithium resource base
- The demand for lithium continues to grow and 2022 is showing no signs of slowing down
- SYA shares steady at 14 cents
Sayona Mining (SYA) has significantly expanded its Northern Québec lithium hub by picking up 121 new claims west of its Moblan Lithium project.
The new claims, known as the Lac Albert project, span 6,592 hectares and will be assessed for lithium pegmatite occurrences during the upcoming northern hemisphere summer.
Lac Albert is located about 3.5 kilometres west of Moblan, which covers about 433 hectares across 20 claims.
Sayona holds a 60 per cent interest in Moblan and the new Lac Albert claims are separate to the current Moblan joint venture.
The company said a diamond drilling program comprising 55 holes totalling about 9,000 metres was under way at Moblan. It was aimed at identifying extensions to the Moblan deposit.
“Moblan and Lac Albert are located in a proven lithium mining district, with potential to become a significant northern growth hub for Sayona, adding to our Abitibi lithium hub in the south,” Managing Director Brett Lynch said.
“The drilling program shows our commitment to further expanding our lithium resource base, further solidifying Sayona’s leading position in the North American lithium sector.”
The demand for lithium in North America continues to accelerate on the back of increased electric vehicle investments by US automakers such as Ford, General Motors and Stellantis, according to Sayona.
“2022 is showing no sign of a slowdown in the global momentum towards the electrification of transport. Sayona’s North American lithium resource base is a key part of this transformation and we look forward to delivering on the potential of our assets,” Mr Lynch said.
SYA shares were steady at 14 cents at 11:40 am AEDT.
