Sayona Mining Limited announced 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. 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 mineralization 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 mineralization 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. Latest results for 34 new drillholes totalling 7,853m for Sayona?s Moblan Lithium Project, Québec, Canada with highlights including: New South Pegmatites (East): 41.80m at 1.44% Li2O from 206.20m in drillhole 1331-23-515; 40.00m at 1.37% Li2O from 253.00m in drillhole 1331-23-516. New South Pegmatites (West): 39.55m at 1.63% Li2O from 38.00m in drillhole 1331-23-678 Moleon Pegmatites: 44.95m at 1.56% Li2O from 81.05m in drillhole 1331-23-689; 46.75m at 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 mineralized 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.