Sayona’s Moblan Lithium Project Drilling Signals Potential Resource Upgrade Risks

Moblan Drilling Program Delivers High-Grade Lithium Intercepts

Sayona Mining Limited (ASX: SYA) has announced the first tranche of results from its 2024 drilling campaign at the Moblan Lithium Project in northern Quebec. The program, comprising 57 diamond drill holes totaling nearly 14,000 meters, has yielded multiple high-grade lithium intersections, reinforcing Moblan's status as a cornerstone asset within Sayona's North American lithium portfolio.

Key intercepts include a standout 41.60 meters grading 1.99% lithium oxide (Li2O) from drillhole SYN-24-0831 in the Inter Zone area, alongside other significant hits such as 37.15 meters at 1.53% Li2O in the New South area and 43.15 meters at 1.59% Li2O in the Moleon area. These results not only confirm the continuity of lithium mineralisation but also suggest the potential to upgrade resource classifications from Inferred to Indicated or Measured categories in future resource updates.

Expanding the Resource Base and Geological Understanding

The 2024 drilling campaign, now complete with a total of 281 holes for over 76,000 meters, has significantly enhanced the geological model of the Moblan deposit. The updated 3D model now extends over a 2.4-kilometer strike length, providing greater confidence in the spatial distribution of lithium-bearing pegmatite dykes across the Main, South, Inter, and Moleon swarms.

Sayona's CEO, Lucas Dow, highlighted the strategic importance of these results, noting that the project’s proximity to existing infrastructure, including the Route du Nord highway and nearby rail links, positions Moblan as a potentially low-cost lithium supplier to the burgeoning North American battery market. The company remains focused on optimising development plans and capital expenditure to fully realise the deposit’s value.

Implications for Sayona and the Lithium Market

The new drilling results come at a critical juncture as global demand for lithium intensifies amid the accelerating transition to electric vehicles and renewable energy storage. Moblan’s high-grade lithium intercepts enhance Sayona’s resource quality and could underpin a more robust mineral resource estimate in the near term, which is a key milestone ahead of potential project development and financing decisions.

In addition, the ongoing drill program’s success in delineating thicker and higher-grade pegmatite zones across multiple areas of the deposit suggests that further resource expansion remains a tangible prospect. Sayona anticipates releasing additional assay results in the coming months, which will be closely watched by investors and industry analysts alike.

Technical Rigor and Quality Assurance

The drilling and sampling methodologies employed at Moblan adhere to industry best practices, with diamond core drilling providing high-quality samples for assay. Independent verification and quality control protocols, including the use of certified reference materials and duplicate sampling, ensure the reliability of the reported results. The competent persons overseeing the exploration and resource estimation are qualified geologists with relevant expertise, lending further credibility to the findings.

As Sayona advances its exploration and development agenda, the company’s strategic partnership with Investissement Québec, which holds a 40% stake in Moblan, underscores the project’s regional economic significance and potential to contribute to Quebec’s growing role in the critical minerals supply chain.