Not sure you can create wealth ...., passive or real by doing nothing which delivers meaningful prospectivity . And the trouble is , is that the only 2 tenements so far ( and for obvious reasons ) has been Deep Well and Mt Dove.
...However , you can see by following through the chronological sequence of the Quarterlies since June 2022, and which actually started as far back as April / May 2022....., that they appear to have dropped the ball on any meaningful continued Gold exploration.
So yeah , I agree that NOW is the time to exploit your gold leases . Because If not now ...., when.
And its been what ....., almost 2 years since they initially spoke of a 3,500 meter drill program at Mt Dove , and yet nothing has commenced as yet. Well
With respect to Deep , it was last reported in the June 2023 Quarterly that" further work was planned " ,yet it took until June 2024 Quarterly to report the 610 samples and then NOTHING has ever been reported since.
Besides all that , the Gold assay's on the only 60 holes drilled so far have been insignificant and leaving their tenements based solely on ' Nearology ' which we all know means almost nothing in this business.
From the June 2022 Quarterly Report :-
The Company is using its knowledge of latestage intrusions, built up in the search for pegmatite mineralisation, to fasttrack identification of Hemistyle targets. At Hemi, part of the mineralisation identified to date is coincident with a magnetic feature and Sayona’s initial
In addition to that , we haven't exploration includes the use of airborne magnetics to identify similar targets.
Early in the quarter, tracks and drill pads were completed for a 60‐hole air‐core drilling program which was carried out in May 2022, with a total of 60 drill holes for 1,677 metres completed. A total of 588 samples have been submitted for gold, lithium and multi‐element analysis. Assay results are pending.
From September 2022 Quarterly Report:-
Deep Well
Some results of the maiden 60 air core drill program for 1,677 metres completed in May were received during the quarter. Once all results have been received and analysed, a further deeper drilling program to test multiple targets will be assessed
Much of the Deep Well tenement area is obscured by surficial cover and the drilling has identified a transported cover sequence ranging from 3m to 15m in downhole depth. This is shallower than anticipated and a soil sampling geochemical program of 650 samples has been completed over the southern portion of the Deep Well tenement.
From the December 2022 Quarterly Report :-
Deep Well
A maiden 60 drillhole air core program for 1,677m, completed in May 2022, identified encouraging results at the T1, T2 and T12a targets, with altered intrusive rocks in a similar geological setting to the Hemi gold deposit. Further, deeper drilling is planned to test the multiple target areas.
Statutory and heritage clearance requirements have now been met for this work to proceed. Drill collars and targets are displayed in Figure 7 below.
A geochemical soil sampling program of 650 samples, completed over the southern portion of the Deep Well tenement, has been analysed by LabWest for low level gold analysis using the CSIRO ultrafine technique. Besides gold, analysis determined lithium and other pegmatite pathfinder elements.
Results were returned during the quarter and have identified areas for expanded and infill geochemical sampling. When completed, this will allow targeting for follow up air‐core drilling of the geochemical anomalies as well as further testing of magnetic targets within the greater Deep Well lease.
Mt Dove
A 3,500m air‐core/RC drill program has been planned to test magnetic features and structural targets for bedrock gold anomalism. During the quarter, approval for heritage surveying over the lease was given and planning for the survey in early 2023 is underway.
From the March 2023 Quarterly Report :-
Deep Well
Further work is planned in the current quarter to allow targeting for follow up air‐core drilling of the geochemical anomalies as well as further drill testing of magnetic targets within the greater Deep Well lease.
Mt Dove
The Mt Dove Project is the closest Sayona lease to De Grey’s Hemi project, being 10km south‐west of the Falcon prospect and 12 km south‐west of the Brolga prospect. It is within 5km of the greater Hemi project area, a 15km trend which includes Hemi and adjacent intrusions
A 3,500m air‐core/RC drill program has been planned to test magnetic features and structural targets for bedrock gold anomalism. Planning for the heritage survey has progressed.
From the 2023 June Quarterly Report :-
Deep Well
Project Infill soil sample results, using the low level gold CSIRO ultrafine technique, confirmed and extended encouraging results in the T5 area of the tenement.Further work isplannedto allow targeting for follow up air-core drilling of the geochemical anomalies, as well as further drill testing of magnetic targets within the greater Deep Well lease.
Mt Dove
A heritage survey was completed over areas where a 3,500 metre air-core / reverse circulation drill program has been planned to test magnetic features and structural targets for bedrock gold anomalism.Drilling activitywill proceedonce the final survey report has been delivered.
From the 2023 September Quarterly Report :-
Deep Well
Nothing reported
Mt Dove
Receipt of report on Aboriginal and cultural heritage survey for Mt Dove Project,enabling air core drilling program to be undertakenwithin the tenement area.
From December 2023 Quarterly Report :-
Deep Well
Nothing reported
Mt Dove
A drill contract was executed for first pass aircore drilling at Mt Dove. The timing for commencing drilling is currently being reviewed. The aircore drill program objectives are to test magnetic features and structural targets beneath cover for bedrock gold anomalism of similar style to De Grey Mining’s nearby Hemi discovery.
From March 2024 Quarterly Report :-
Deep Well
Nothing reported
Mt Dove
Planning for first drilling at Mt Dove continued during the quarter. The program will test magnetic features and structural targets beneath cover for bedrock gold anomalism of similar style to De Grey Mining’s nearby Hemi discovery.
From June 2024 Quarterly Report :-
Deep Well
During the quarter a total of 610 geochemical soil samples were collected to expand and infill previous anomalous results. Samples have been submitted to LabWest Minerals Analysis for testing using the low level gold CSIRO ultrafine+ technique
Mt Dove
Nothing reported
From September 2024 Quarterly Report :-
Deep Well
Nothing reported
Mt Dove
Nothing reported
From December 2024 Quarterly Report :-
Deep Well
Nothing reported
Mt Dove
Nothing reported
From March 2025 Quarterly Report :-
Deep Well
Nothing reported
Mt Dove
Nothing reported
SYA Price at posting:
1.9¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)