Sayona Mining (ASX:SYA) said that results from its 2024 drilling campaign at the North American lithium project in Québec confirmed the large tonnage, high-grade potential of the project, according to a Tuesday Australian bourse filing.
The results include significant intercepts of 35 meters at 1.45% grade of lithium oxide from 291 meters and 18.1 meters at 1.74% grade of lithium oxide from 289.85 meters, the filing said.
The drilling campaign confirmed the extension of high-grade lithium mineralization, and the firm plans to incorporate the latest drilling results into an updated mineral resource estimate to refine resource classification and expansion of resource tonnes.
It also plans to complete a scoping study into the potential expansion of production at the project and conduct further exploration drilling to extend resource boundaries and identify additional mineralization zones.
Sayona holds a 75% stake in the project, while Piedmont Lithium (ASX:PLL) holds a 25% stake.
Its shares fell 6% in recent trading on Tuesday.
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