Sayona Mining Limited: New High-Grade Zones Encountered in NAL Drilling

Brisbane, Australia - North American lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) has identified multiple, high-grade lithium intercepts from recent drilling at the Company's North American Lithium (NAL) operation (SYA 75%; Piedmont Lithium 25%) in Quebec, Canada, including new mineralised zones outside the current Definitive Feasibility Study (DFS) pit shell.

The results from 57 new drillholes totalling 14,350m have significantly increased the potential for a resource upgrade at the current single largest source of hard rock lithium production in North America.

The new high-grade mineralisation is located along the north-west margin of the NAL deposit, outside the current pit shell model. Lithium mineralisation inside the DFS pit shell continues to show continuity and consistency in grade and thickness, further indicating the potential for resource conversion, as well as resource definition below the DFS pit shell.

Sayona is continuing to increase its hard rock lithium resource base in Quebec, with assay results pending from an additional 152 holes from 43,500m of drilling at NAL. The positive results follow the recent first shipments of spodumene (lithium) concentrate to the international lithium market, with Sayona continuing to advance NAL's production ramp-up.

Sayona's Interim CEO, James Brown, commented: "These results are hugely significant for NAL, showing the potential for a resource upgrade at North America's single largest source of hard rock lithium production.

"Notably, some of the intercepts from this recent drilling program are thicker and higher grade than any previously encountered, increasing confidence in NAL's mine life."

"We look forward to seeing the results from the remaining assays as we work to expand the NAL resource, further highlighting the importance of this operation for not only the joint venture partners but for the AbitibiTemiscamingue region as a key source of high-grade lithium for the battery and EV revolution."

Sayona is committed to continued engagement with local communities concerning the development of the NAL operation, including First Nations and other local community members, consistent with its proactive stakeholder engagement approach focused on achieving industry best practice.

North-West Area - Section -500W

The intersected mineralisation was located at the north-west margin of the DFS pit design, ranging to approximately 235m below surface. The mineralisation takes the form of substantial 15m to 68m thick undeformed pegmatite dykes hosting 15-25% of spodumene.

The pegmatite dykes swarm is hosted at the margin of the Preissac-Lacorne granodiorite and dips 45-55 degrees to the south-west. The zone is open at depth and laterally to the north-west. Highlights and interpretation are shown in Figure 2*.

Central Area - Sections -300W, -250W, -150W and -100W

A series of in-pit drill holes were drilled to demonstrate the continuity of the mineralisation between historical holes, aiming to convert Inferred Resources to Indicated and Measured Resources and potentially increase Mine Reserves.

Preliminary interpretation and modelling show that the program successfully confirmed the position of the existing zones and the potential for a high conversion of the resource categories within the DFS pit shell. Figures 3 to 5* show the highlights of the resource conversion drilling program.

The objectives of the 2023 drilling program at NAL comprise the conversion of Inferred Resources to Measured and Indicated Resources, as well as exploration for extensions of the NAL mineral resource to the north-west and south-east of the existing pit.

NAL recently reported a quarterly record of 31,486 dry metric tonnes of spodumene concentrate production, with three shipments conducted during the September quarter (refer ASX release 30 October 2023).

NAL comprises a contiguous group of 42 mineral titles (41 claims, one mining lease) spanning 1,493 hectares, situated near La Corne township in Quebec's Abitibi-Temiscamingue region. The operation has a lithium mine and concentrator, with production of spodumene concentrate having recommenced in March 2023. The project lies 60 kilometres north of the city of Val d'Or, a major mining service centre, with access to road and rail infrastructure together with skilled labour.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5T9V4VR5

About Sayona Mining Limited:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:SYAXF) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.

Please visit us as at www.sayonamining.com.au

Source:
Sayona Mining Ltd.

Contact:

James Brown Executive Director/Interim CEO Email: info@sayonamining.com.au Anthony Fensom Republic PR Ph: +61 (0)407 112 623 Email: anthony@republicpr.com.au