Sayona Mining Limited: Moblan Drilling Reveals Further High-Grade Intersections

Brisbane, Australia - North American lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) announced today the results from 34 new drillholes totalling 7,853 metres at its Moblan Lithium Project (Sayona 60%; Investissement Quebec 40%), demonstrating the potential of a single, large continuous orebody.

- Latest results for 34 new drillholes totalling 7,853m for Sayona's Moblan Lithium Project, Quebec, Canada with highlights including:

o New South Pegmatites (East):

- 41.80m @ 1.44% Li2O from 206.20m in drillhole 1331-23-515
- 40.00m @ 1.37% Li2O from 253.00m in drillhole 1331-23-516

o New South Pegmatites (West):

- 39.55m @ 1.63% Li2O from 38.00m in drillhole 1331-23-678

o Moleon Pegmatites:

- 44.95m @ 1.56% Li2O from 81.05m in drillhole 1331-23-689

- 46.75m @ 1.49% Li2O from 197.35m in drillhole 1331-23-689

- All assay results of the 2023 drilling campaign are now complete, validated and released.

- New drilling results illustrate the potential connection between the Main, South, New South, Inter and Moleon sectors within a single extensive lithium mineralised system.

- New 3D geological modelling is underway to consider all 2023 drilling results as part of an updated Mineral Resource Estimate (MRE).

- Further drilling program of 70,000m to be completed throughout 2024.

All the drilling results from the latest exploration program are now complete, validated and released. The 2023 drill program has been successful in demonstrating the potential to increase the mineral resource base at Moblan. The drilling program was designed to test extensions to mineralisation and provide in-fill data for the upgrade of Mineral Resource categories from the 2023 MRE. Individual dykes have been documented and modelled comprising the Main Zone, South Zone, Inter Zone and Moleon domain. The latest drilling results include the identification of high-grade lithium mineralisation outside the MRE pit shells, particularly in the Inter Zone Area, and support potential conversion of some of the Inferred resources to the Indicated category within the MRE pit shells.

The new drillhole results reinforce the project's status as the centrepiece of Sayona's Eeyou-Istchee James Bay hub in northern Quebec, and highlights its potential to expand the existing mineral resource base at Moblan.

Sayona's Interim CEO, James Brown commented: "Moblan continues to present outstanding high-grade drilling results over wide intersections. The deposit now extends over ~2.3km E-W, ~1.2km N-S and to depth of ~450m.

"Today's announcement emphasises the continuation of known mineralisation and areas of in-fill between zones, suggesting considerable potential for uncovering additional extensions to this premium lithium deposit.

"Recent results from both Moblan and NAL reinforce the quality and potential of both the Abitibi-Temiscamingue and Eeyou Istchee James Bay hubs which provides Sayona an abundance of options and potential flexibility for development of an integrated lithium business in Quebec."

Moblan Geological Interpretation - A Single Extensive LCT Pegmatite Mineralised System

New drilling results and ongoing geological modelling illustrate the potential connection between the Main, South, New South, Inter and Moleon pegmatite dykes within a single extensive lithium-caesium-tantalum (LCT) mineralised system. The links that can now be established between the various sectors at Moblan will potentially have a positive impact on the geological continuities of an updated mineral resource estimate. The footprint of the Moblan mineralised system now extends over ~2.3km E-W, ~1.2km N-S and to depth of ~450m from surface and bounded by a NE-trending shear zone in the west.

Structural analysis of the many different sets of dykes including the E-W sub-horizontal pegmatites (Main, South and New South) and N-S sub-vertical pegmatites (mostly in the Inter and Moleon areas) and geochemical signatures (i.e. evolution of K/Rb, K/Cs element ratios, fractionation geochemical indicator of the pegmatites) points towards emplacement and formation of Moblan LCT pegmatites system during a continuum of deformation and magmatic evolution. Pegmatites dykes being crystallized from single and multi-stage events with different generations of dykes where geometry of the dykes reflects the evolution from ductile-brittle to brittle deformation.

Geochemistry of the eastern pegmatites of Moleon is different from the Main, South and New South pegmatites. In addition to structural orientations, whole-rock geochemical signatures indicate that the N-S pegmatites are more evolved (and thus enriched in Tantalum) than the E-W ones. These different groups of dykes likely reflect a pulsating emplacement of different generations of LCT pegmatites (the E-W ones first, followed by the N-S ones). The emplacement of both generations (Moblan and Moleon) is structurally controlled by a NE-trending deformation corridor during the transcurrent tectonics (D3 regional deformation event).

South and New South Pegmatites

Highlights from the South and New South areas pegmatites are presented in Table 2*. The South pegmatite complex comprises E-W trending spodumene pegmatite dykes, nearly sub-horizontal or dipping gently to the north (dip angle of 10-15deg). New drilling intersected a pegmatite dyke with assays from the thicker section from the central area returned intercepts of 1.25% Li2O over 32.30m for the drillhole 1331-23-608, 1.26% Li2O over 31.80m for the drillhole 1331-23-617, and 1.63% Li2O over 39.55m for the drillhole 1331-23-678.

Previous and new results confirm the presence of wide flat dykes (up to 50m of estimated true width) and a couple of smaller parallel-trending dykes that may extend to the east, to the west and to the south. These additional diamond drillholes in the South and New South areas will potentially allow to upgrade the Inferred mineral resources to Indicated category in a future mineral resource estimate update.

Moblan Main Pegmatites

Highlights from the Main pegmatites are presented in Table 3. Previous and additional drilling confirms the northern extension of Main pegmatites at depths of 160-190m as expected considering their dip angle of 20deg-30deg toward the north.

These new assays with intercepts of 1.74% Li2O over 14.90m in hole 1331-23-541 will also potentially enable the conversion of Inferred mineral resources to Indicated category.

Inter Pegmatites

Highlights from the Inter zone pegmatites are presented in Table 4*. Inter zone is considered as a high potential area where two populations of LCT pegmatites are intersected and characterized by different structural and geochemical features.

Based on previous and new results, the E-W trending and sub-horizontal pegmatite system of Moblan is crosscut by the N-S striking pegmatite dykes with a much stronger dip, known as the Moleon dyke swarm. This results in a series of mineralised pegmatite intervals with variable thickness. The best intercepts returned 1.44% Li2O over 41.80m from drillhole 1331-23-515 and 1.37% Li2O over 40.00m from drillhole 1331-23-516 (Figure 1 and 2*). All these significant assays confirm the continuity of the mineralisation to the east and at depth and potentially expand the mineral resources between the known Moblan and Moleon deposits (Figure 1*).

Moleon Pegmatites

Highlights from the Moleon pegmatites are presented in Table 5. Previous and new results confirmed the presence of new N-S trending dykes (with estimated true width up to 40m). The best intercepts reported are 1.56% Li2O over 44.95m for the drillhole 1331-23-689 and 1.49% Li2O over 46.75m for the drillhole 1331-23-689 (Figures 1 and 3*).

The Moblan project is located about 130km north-west of the town of Chibougamau and approximately 85km from the Cree (First Nations) community of Mistissini. The project is located within just 300 metres of the Route du Nord, a regional highway which is accessible year-round, providing access to railway lines that link with major ports in Eastern Canada.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/23799U1U

About Sayona Mining Limited:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:SYAXF) is a North American lithium producer with projects in Quebec, Canada and Western Australia. In Quebec, Sayona's assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Quebec.

In Western Australia, the Company holds a large tenement portfolio in the Pilbara region
prospective for gold and lithium. Sayona is exploring for Hemi-style gold targets in the world-class Pilbara region, while its lithium projects include Company-owned leases and those subject to a joint venture with Morella Corporation (ASX:1MC).

Source:
Sayona Mining Ltd.

Contact:

James Brown Director/Interim CEO E: info@sayonamining.com.au Andrew Barber President Investor Relations T: +61-7-3369-7058 E: ir@sayonamining.com.au