SAYONA MINING LAST 6 MONTHS TIMELINE
MAY 2016:
Proposed Aqcuisition of Authier Lithium Development - Canada - mining area, close to infrastructure and port
The project has more than 15,000 metres of diamond drilling in 123 holes, and 2,143 assay samples.
JULY:
7.1 million cap raise at 2.7 with one for two SYAO, 3c oppie expiry 31/12/16
FOR:
acquisition of the Authier lithium Project;
feasibility expenditure on the Authier lithium Project
exploration expenditure on the Company’s Australian Projects
administration and working capital requirements.
SEPTEMBER:
Drilling Commenced - Authier 5000-6000 metres
OBJECTIVES: Improve the overall quality and expand on the size of its existing JORC 2012 compliant Mineral Resource estimate;
Convert the inferred mineral resources to measured and indicated through further drilling;
Increase the drill density to convert mineral resources to reserves;
Explore for extensions to the existing mineral resources and other potential mineralisation within the tenement package;
Collect geotechnical and hydrological data for incorporation in the Authier Feasibility Studies;
Collect additional drill core for any additional metallurgical testing that may be required to complete a Bankable Feasibility study, planned for 2017.
OCTOBER 11:
NEW SPODUMENE-BEARING PEGMATITE FOUND 400m NORTH OF EXISTING PEGMATITE
OCTOBER 24:
First results - HIGH GRADE LITHIUM OVER LARGE WIDTHS
High-grade spodumene mineralisation intersected - 62 metres at 1.35% Li20 including, 16 metres at 1.65 % Li2O from 12 metres
Longest intercept of spodumene mineralisation recorded in drilling at Authier Drilling, demonstrating the potential to expand the size of the JORC Resource.
OCTOBER 25:
40m THICK ZONE OF MEDIUM to HIGH GRADE SPODUMENE MINERALISATION found connecting West and East zones Assays Pending
The new interpretation will enhance the value of the project by:
Adding additional resource. The mineralisation within the zone is interpreted to extend
approximately 150 metres in strike length and down to 200 metres depth; and
Simplify the mine plan and optimisation of the life-of-mine stripping ratio.
NOVEMBER 4:
2nd HIGH GRADE SPODUMENE INTERSECTED AT SHALLOW AND DEEP LEVELS
including :
40 metres at 1.27% Li20 from a depth of 4 metres
50 metres at 1.13 % Li2O from a depth of 156 metres
New drilling expands high-grade zones of spodumene mineralisation
Drilling program is demonstrating the potential to expand the size of the JORC Resource
View attachment 334133
NOVEMBER 8:
HIGH GRADE MINERALISATION AT NEW PEGMATITE - FOLLOW UP DRILLING IN EARLY 2017
CURRENTLY PENDING/AWAITING NEWS:
Assay results from last 9 holes at Authier.
Authier Pre-feasability study.
Authier Resource up grade.
Exploration results from Australian Tenements including SYA's Pilgangoora Tenement.
View attachment 334139
Much like the early performance of KDR and CXO earlier in 2016, SYA has seen no sustained share price increase from the commencement of drilling. With a $20m Market Cap, it is quite advanced in its exploration project and in my opinion, undervalued with a run to an imminent re-rate expected to push the SYAO options into the money before their December 31 expiry. KDR and CXO both experienced similar runs after a long period of accumulation. Recent trading has seen the heads held down on low volume by one or more cappers while the soon-to-expire oppies have been hoovered up. I have seen this pattern before and am confident a run is just around the corner.
SYA on the daily chart.
View attachment 334151
Happy Trading!
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