(Kitco News) - Sayona Mining (ASX:SYA) said today it closed its acquisitionfor a 60%stake in MoblanLithiumProject, Qu?(C)bec for US$86.5million.
The close comes after the company successfully raised A$100million.
Located about 130km north?EUR?west of Chibougamau, Moblan ishost to high?EUR?grade spodumeme
mineralisation. The deposit has over 17,000m of diamonddrilling.
A drilling program targeted for 2022 with the aim of expandinglithium resource.
"Moblan in northern Qu?(C)bec adds to our established Abitibilithium hub as we build the leading lithium asset base in North America,"said Sayona's Managing Director Brett Lynch.
"This is an important step as this expansion in our lithiumresource further strengthens our capacity and plans to move downstream into lithium hydroxide/carbonateproduction in Qu?(C)bec, capturing added value and ensuring the province plays a leading role inNorth America's clean energy drive.
By Michael McCraeFor Kitco News
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