Sayona Mining Limited has significantly expanded its Northern Québec lithium hub by acquiring 121 new claims west of the Moblan Lithium Project, with demand intensifying for this strategic battery metal. Located 3.5km west of the Moblan project, the new claims, known as the Lac Albert Project, span 6,592 hectares and will be assessed for lithium pegmatite occurrences during the upcoming Northern Hemisphere summer. The Moblan project covers around 433 ha for a total of 20 claims, with Sayona holding a 60% interest (SOQUEM Inc. 40%).

The new claims are separate to the current Moblan joint venture agreement. The Moblan deposit is host to spodumene pegmatite mineralisation and the additional claims at Lac Albert are located in the same proven lithium mining province, EeyouIstchee James Bay, which hosts established lithium resources such as Nemaska Lithium's Whabouchi mine. It is well serviced by key infrastructure and transport, namely the Route de Nord, and has access to low cost, environmentally friendly hydropower.

Drilling is currently underway at Moblan in partnership with SOQUEM Inc., acting as operator. The planned 55 diamond drill hole program for nearly 9,000m aims to identify extensions to the Moblan deposit and define mineralisation in nearby spodumene pegmatites, such as the Moléon prospect. Past work has been limited and the geology of the new claim area at Lac Albert is poorly understood, with much of the area obscured by glacial moraines.

Exploration is targeting greenstone areas within the mapped monzogranite, along strike of the eastwest trend of the Moblan deposit. The identified pegmatites occurrences are located in an area afforded favourable access by its proximity to the Route Du Nord, an allweather regional highway. The Moblan project is located about 100km north of Chibougamau and around 85km from the Cree (First Nations) community of Mistissini.

The project is located in the EeyouIstchee James Bay lithium mining province and is host to other lithium deposits, including the Whabouchi mine. The acquisition of new claims near Moblan and the current drilling program at the project adds to Sayona's other expansion plans in Québec in 2022, including increasing the lithium resource base at the Company's Authier Lithium Project and North American Lithium (NAL) and progressing the resumption of spodumene production at NAL, targeted from 2023. Lithium demand in North America continues to accelerate on the back of increased EV investments by U.S. automakers such as Ford, General Motors and Stellantis in Ontario, Canada, together with planned battery investments in Québec by Britishvolt, Lion Electric and StromVolt.