Project Overview

Sayona Mining | Canadian Project Locations

Moblan is located in the Eeyou-Istchee James Bay region of northern Québec, a proven lithium mining province which hosts established, world-class lithium resources including the Whabouchi mine. It is located within just 300 metres of the Route du Nord, a regional highway which is accessible year-round, providing access to railway lines that link with major ports in Eastern Canada.

The Moblan Project comprises 20 claims covering 433 ha or 4.3 sq km. The project was acquired in October 2021 in a joint venture with SOQUEM Inc, a wholly owned subsidiary of Investissement Québec. (Sayona 60%/SOQEM 40%)

The project is host to lithium mineralised pegmatite. Individual dykes have been documented and modelled comprising the Main Zone, South Zone, Inter Zone and Moleon domain.

In February 2024, Sayona announced a Definitive Feasibility Study (DFS) for Moblan demonstrating its potential value, with an estimated post-tax NPV(8%) of C$2.2 billion.

The operation is expected to generate estimated total net revenue of C$14.4 billion over its 21.1 LOM, with an EBITDA of C$11.2 billion. These positive financial returns have been driven by an estimated head grade of 1.36% Li2O, a LOM recovery rate of 74.7% and LOM average annual concentrate production of 300,000tpa at a grade of 6% Li2O.

The project’s key production parameters include a relatively low strip ratio of 2.3:1 (ore versus waste), expected product grade of 6% Li2O, and an estimated operating unit cost comparable with some of the most cost competitive international hard-rock lithium mines currently in production.

In May 2024, Sayona announced the results from 94 new drill holes totalling 20,735m at Moblan which demonstrated the high grade nature of this highly strategic asset. The drilling program was designed to test extensions to mineralisation and provide in-fill data for the upgrade of Mineral Resource categories.

Individual dykes were documented and modelled comprising the Main Zone, South Zone, Inter Zone and Moleon domain. These results included the identification of high-grade lithium mineralisation outside the Mineral Resource Estimate (MRE) pit shells, particularly in the Inter Zone Area, and supported conversion of some of the Inferred resources to Indicated category within the MRE pit shells.

In 2023, an additional 41 holes for 6,872m were also completed for geotechnical and sterilisation purposes.

2023 Mineral Resource Estimate 

The Moblan 2023 Mineral Resource Estimate (MRE) covers an area of 2,500 m strike length and 900 m width, extending to a depth of 350 m below surface. The mineralisation model consists of 21 lithium pegmatite dykes modelled as the Main dykes, 20 as the South dykes, 17 as the Inter domain and 17 as the Moleon dykes. The MRE is based on diamond drill holes drilled between 2002 and 2022 and trenches sampled between 2004 and 2009. The database includes assay data from 366 surface drill holes and 10 surface trenches with a close-out date of 18 January 2023.

Ore Reserves Estimate

The Ore Reserves have been classified according to the category of the underlying mineral resources and the status of the modifying factors. Probable Ore Reserves are based upon Indicated and Measured mineral resources. The confidence level in the modifying factors (mid-term planning, planned dilution and %Fe grade) is not considered sufficient to classify any of the Measured mineral resources as Proven Ore Reserves.

Projects

 

Québec Lithium
Abitibi-Temiscamingue Hub
Eeyou Istchee James Bay Hub