Western Australia Lithium Projects

Sayona’s leases in Western Australia comprise lithium and gold prospective tenure in the Pilbara and Yilgarn areas and a graphite project in the East Kimberley.

Sayona’s Pilbara portfolio comprises 12 leases covering 1,016 sq km, with a total lease area for Western Australia of 1,155 sq km.

The Pilbara tenure is located in the Pilgangoora lithium district and is proximal to De Grey Mining’s 10.6Moz Au Mallina Project, which includes the 8.5Moz Au Hemi gold discovery,

Six of the tenements are held under the Morella Lithium Joint Venture (Sayona 49%; Morella Corporation 51%), with lithium rights to the remaining six leases held 100% by Sayona. These comprise the Deep Well (E47/3829), Tabba Tabba (E45/2364), Red Rock (E45/4716), Mt Dove (E47/3950), Friendly Creek (E47/3802) and Indee (E45/5817) tenements, which cover a total of 471 sq km.

Ten of the Pilbara tenements have associated gold rights which are held 100% by Sayona. These are considered prospective for intrusion-related gold mineralisation, similar in style to the Hemi discovery.

Morella Lithium Joint Venture

Sayona holds a 49% equity stake in the Morella Lithium Joint Venture, which comprises lithium rights to six tenements in the Pilbara covering 545 sq km and two tenements in South Murchison covering 48 sq km. Morella Corporation Limited (ASX: 1MC) is the manager of the joint venture. Under the JV, Sayona may elect to contribute pro‐rata to planned JV exploration to maintain its equity interest or choose to dilute.

Three highly prospective targets have been identified at the Mallina, Tabba Tabba and Mount Edon projects.

During the March quarter 2024, project data including geochemistry, geophysics and geological mapping continued to be reviewed with multiple targets being identified. At the Tabba Tabba East tenement, a preliminary RC drill program was outlined with commencement planned during Q4 FY24, with RC drilling also planned at the Mt Edon project.

Mallina Project E47/2983

The Mallina project is the most advanced of the Morella joint venture tenements.

Morella’s 2022 drilling in the southern Pegmatite 2 Prospect area included lithium intercepts of 16.4m @ 1.24% Li2O from 4.6m and 1m @ 1.18% Li2O from 46m, confirming previous drilling results by Sayona.

Morella completed two drilling campaigns in 2023. In May 2023, Morella completed a 35-hole drilling program measuring 2,200m over the Discovery, Area C and Eastern Pegmatite No. 2 and 3 prospect areas. The results showed the project’s potential, with reported grades of up to 1.87% Li2O and new discoveries showing intersections of up to 1.66% Li2O.

Follow up RC drilling commenced in September 2023, with a 66 hole program for a total depth of 3,754m focused on the Eastern Pegmatite 2 prospect. Mineralisation was confirmed in 42 of the drill holes along a 1km strike length.

Reported grades within the Pegmatite 2 mineralisation were up to 3.03% Li2O and the Pegmatite 2 target remains open along strike to the north and south. The next phase of exploration will include testing extensions to known mineralisation and the development of new targets (refer 1MC announcement 5 December 2023).

Mt Edon Lithium Project E59/2092

This project located in the South Murchison covers the southern portion of the Payne’s Find greenstone belt and hosts an extensive swarm of pegmatites.

During fiscal 2022, Morella commenced exploration, mapping a total of 53 pegmatite outcrops. Rock chip assay results indicate the potential of the area for lithium mineralisation.

A RC drill program has been outlined for 2024 to assess deep ground penetrating radar (DGPR) features, geochemical targets and mapped pegmatites.

Red Rock Project E45/4716

A soil geochemical sampling program comprising 782 samples has been conducted over north‐east trending structural zones extending from Pilgangoora in the south. This is considered to be a favourable conduit for pegmatite emplacement and a 10km plus extent to this zone, together with splay structures, cuts the Red Rock lease.

The structural interpretation highlights an association of the identified structures with rare metal pegmatite occurrences and historic dredging and alluvial claims which targeted tin and tantum mineralisation, commonly associated with lithium pegmatites.

West Wodgina Lithium Project

The West Wodgina Project is located 100km south of Port Hedland and 8km west of the Wodgina Lithium Operation, forming part of the Morella Lithium Joint Venture.

In November 2023, Morella announced that soil sampling had identified multiple targets in a proven lithium district, with a total of 1,171 soil samples collected.

Sayona Pilbara Lithium Exploration (Sayona 100%)

Sayona holds the lithium rights at the Deep Well, Tabba Tabba, Red Rock, Mt Dove, Friendly Creek and Indee tenements, which cover a total of 471 sq km. The most advanced of the areas is the Tabba Tabba Project, where exploration has identified lithium‐cesium‐tantalum (LCT) type pegmatites.

Tabba Tabba Project E45/2364

The Tabba Tabba Project is located north of the Pilgangoora lithium mining area, in a region of historic tin and tantalum mining. It comprises six tenements covering 588 sq km, located 40km to the north of the Pilgangoora lithium mining area.

The main Tabba Tabba tenement, E45/2364 (lithium rights only), is centred in an area of historic tin and tantalum mining. Spodumene pegmatite has been identified in adjacent tenure and the Tabba Tabba Project provides exposure to the area’s emerging lithium prospectivity.

Maiden exploration drilling undertaken at Tabba Tabba in December 2023 identified high potential pegmatite systems containing caesium and tantalum (refer ASX announcement 11 April 2024).

The 77-hole air core drilling program for 1,473m focused on two key areas, with results in the northern drill area identifying a zone of alteration, interpreted as the targeted southern extension to the Tabba Tabba mine stratigraphy. The southern drill area, sited around the Roadside and Turley prospects, intersected narrow pegmatite within broader zones of elevated tantalum and caesium geochemistry, typical of a LCT type pegmatite system.

An orientation ground gravity geophysical survey was completed during April 2024 to identify the prospective gabbro – sediment contact for targeting, as this is an important control for lithium mineralisation within the area. The gravity survey covered a 7km x 2km area and comprised approximately 2,500 stations, helping to target the pegmatite system and potential lithium rich zones at depth for Reverse Circulation (RC) testing.

In May 2024, Sayona announced the start of RC drilling at the project. The initial approximately 2,000m RC drilling program will consist of 14 holes with nine located in the North Area immediately south of Wildcat Resources tenements and a further five holes located at the Roadside Prospect approximately 4.5km south and along strike. Further drilling will be conducted throughout 2024 as geological information is built up over the area, largely under thin colluvial cover.

Tabba Tabba lease E45/2364 and planned drilling areas

Sayona Pilbara Gold Exploration (100%)

Sayona’s Pilbara gold leases are prospective for intrusion related gold mineralisation, similar in style to that identified at the Hemi gold discovery. This style of mineralisation is hosted within altered late stage hi‐Mg diorites. Sayona’s tenement portfolio remains effectively untested for its gold potential with large areas masked by surficial cover.

Sayona’s Pilbara gold projects

Sayona’s Pilbara Gold Projects

Mt Dove Project E47/3950

The Mt Dove Project is within 5km of De Grey’s greater Hemi project area, a 15km trend which includes Hemi and adjacent intrusions and which is host to 8.5Moz Au in gold resources.

Sayona is currently planning for first drilling at the project, with the program to test magnetic features and structural targets beneath cover for bedrock gold anomalism of similar style to De Grey Mining’s nearby Hemi discovery.

Deep Well Project E47/3829

The Deep Well Project spans 119 sq km to the west of Port Hedland. It covers Mallina Basin sediments which have been intruded by the Portree Suite, a range of tonalite, granodiorite and other intrusive rocks which are of the same age as those associated with the Hemi deposit.

A 60-hole air-core drilling program was carried out in May 2022, with a total of 60 drill holes for 1,677m completed. Drilling targeted magnetic features with similarities to the Hemi style of intrusion-related gold mineralisation.

The drilling identified encouraging results at the T1, T2 and T12a targets, with altered intrusive rocks in a similar geological setting to the Hemi gold deposit.



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