24 SEPTEMBER 2018 BOOST FOR AUTHIER PROJECT AS JORC ORE RESERVES...

24 SEPTEMBER 2018
BOOST FOR AUTHIER PROJECT AS JORC ORE RESERVES EXPAND
Highlights
• Expanded Ore Reserve estimate for Authier Lithium Project in Canada increases total reserves to 12.1 million tonnes (Mt) @ 1% lithium oxide (Li2O)
• Sayona focused on progressing Authier project towards production, ensuring sustainable and successful development for benefit of all stakeholders
Emerging lithium miner Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company")
announced today an expanded Ore Reserve estimate based on the Definitive Feasibility Study (‘DFS’ for the Authier lithium project in Quebec, Canada.
The DFS, which is the subject of a separate announcement made today, demonstrates the technical and financial viability of constructing a simple, open-cut mining operation and processing facility producing spodumene concentrate. The positive DFS demonstrates the project’s potential to deliver a profitable and sustainable new lithium mine that will provide jobs and investment for the local community and increased value for shareholders.
The positive DFS is considered sufficient to determine, in accordance with the JORC Code 2012, that a subset of the Measured and Indicated Mineral Resource be classified as Ore Reserves – see Table 1:
The DFS demonstrates that a viable mining and processing operation, and the infrastructure to support this, are available to develop the project.
The DFS takes into account all the modifying factors considered material to the development of the project and statement of Ore Reserves. The inputs into the economic and financial analysis were based on realistic assumptions of technical, engineering, operating and economic factors.
The capital and operating cost estimates were obtained from reputable consulting groups at the appropriate level of confidence for the DFS.