Sayona Mining Limited announced that it has secured a package of lithium prospective exploration tenements in Western Australia which host tantalum mineralisation within complex rare metal pegmatites.
The company has secured tenements in two project areas totalling 364 km2, including Tabba Tabba – which is adjacent to the Tabba Tabba tantalum mine – and Mt Edon – which is located in the South Murchison and secures an area hosing a large number of prospective lithium bearing fractionated pegmatites.
The company’s CEO Corey Nolan said the acquisition aligns with Sayona’s graphite development strategy and objective of securing, exploring and developing the raw materials required for the production of lithium-ion batteries.
He said both projects have excellent regional infrastructure, and are close to the Asian markets for downstream processing and battery manufacturing.
“The Company is pleased to have secured a strategic position in a number of highly prospective tenements in Western Australia, a state which is growing in dominance as a major supplier of lithium to the global market,” Mr Nolan stated.
According to him, both projects have had little or no past lithium focused exploration, adding that the company’s initial reconnaissance work has yielded positive and encouraging results.
“Coupled with the extensive experience and expertise in lithium through board members involvement in Companies including Altura Mining Ltd and Orocobre Ltd, the Company is well positioned to pursue its strategy of supplying the key raw materials required to build a lithium-ion battery,” Mr Nolan concluded.