TANSIM PROJECT Tansim Property Abitibi-Témiscamingue, Québec, Canada
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TANSIM PROJECT Tansim Property Abitibi-Témiscamingue, Québec, Canada Prepared for: Effective Date: March 15, 2021 Sayona Québec Signature Date: March 15, 2021 Prepared by the following Qualified Person: ▪ Pierre-Luc Richard, P. Geo., M.Sc. ........ BBA Inc. IMPORTANT NOTICE This report was prepared as a National Instrument 43-101 Technical Report (the “Report”) for Sayona Québec Inc. (Sayona) by BBA Inc. (BBA), the Report Authors. The quality of information, conclusions, and estimates contained herein is consistent with the level of effort involved in the Report Authors’ services, based on i) information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications set forth in this Report. This report is intended for use by Sayona, subject to the respective terms and conditions of its contracts with the individual Report Authors. Except for the purposes legislated under Canadian provincial and territorial securities law, any other uses of this report by any third party is at that party’s sole risk. The responsibility for this disclosure remains with Sayona. The user of this document should ensure that this is the most recent technical report for the Property as it is not valid if a new technical report has been issued. The cover page image was provided by Sayona. Sayona owns the right to the images. Sayona Québec Inc. NI 43-101 – Technical Report Tansim Property DATE AND SIGNATURE PAGE This report is effective as of the 15th day of March 2021. “Signed and sealed original on file” March 15, 2021 Pierre-Luc Richard, P. Geo. Date BBA Inc. MARCH 2021 BBA Document No.: 6015026-000000-40-ERA-0001-R00 2020 Robert-Bourassa Blvd. Suite 300 Montréal, QC H3A 2A5 T +1 514.866.2111 F +1 514.866.2116 bba.ca CERTIFICATE OF QUALIFIED PERSON Pierre-Luc Richard, P. Geo. This certificate applies to the NI 43-101 Technical Report titled " NI 43-101 Technical Report for the Tansim Project, Tansim Property, Abitibi-Témiscamingue, Québec, Canada" (the Technical Report), prepared for Sayona Québec Inc. (Sayona) dated March 15, 2021. I, Pierre-Luc Richard, P. Geo., do hereby certify that: I am a Principal Geologist with BBA Inc. located at 2020 Robert-Bourassa Blvd, Suite 300, Montréal, Québec, Canada, H3A 2A5. I am a graduate of Université du Québec à Montréal in Resource Geology in 2004. I also obtained a M.Sc. from Université du Québec à Chicoutimi in Earth Sciences in 2012. I am a member in good standing of the Ordre des Géologues du Québec (OGQ Member No. 1119), the Association of Professional Geoscientists of Ontario (APGO Member No. 1714), and the Northwest Territories Association of Professional Engineers and Geoscientists (NAPEG Member No. L2465). I have worked in the mining industry for more than 16 years. My exploration expertise has been acquired with Richmont Mines Inc., the Ministry of Natural Resources of Québec (Geology Branch), and numerous companies through my career as a consultant. My mining expertise was acquired at the Beaufor mine and several other producers through my career. I managed numerous technical reports, mineral resource estimates and audits as a consultant for InnovExplo from February 2007 to March 2018 and as a consultant for BBA since. I have read the definition of “qualified person” set out in NI 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) and certify that, by reason of my education, affiliation with a professional association, and past relevant work experience, I fulfill the requirements to be a qualified person for the purposes of NI 43-101. I am independent of the issuer applying all the tests in Section 1.5 of NI 43-101. I am author and responsible for the preparation of Chapters 1 to 27 of the Technical Report. I have visited the Tansim Property that is the subject of this Technical Report on November 27, 2020. I have had no prior involvement with the property that is the subject of the Technical Report, except for authoring Technical Reports in the past. I have read NI 43-101 and the sections of the Technical Report for which I am responsible have been prepared in compliance with NI 43-101. As at the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the portions of the Technical Report for which I am responsible not misleading Signed and sealed this 15th day of March 2021. “Signed and sealed original on file” Pierre-Luc Richard, P. Geo. BBA Inc. Sayona Québec Inc. NI 43-101 – Technical Report Tansim Property TABLE OF CONTENTS 1.1 Introduction ............................................................................................................................... 1-1 1.2 Property Description and Location ........................................................................................... 1-1 1.3 Accessibility, Climate, Local Resources, Infrastructure and Physiography ............................. 1-1 1.4 Geological Setting and Mineralization ...................................................................................... 1-2 1.5 Drilling, Sampling Method, Approach and Analysis ................................................................. 1-2 1.6 Data Verification ....................................................................................................................... 1-3 1.7 Interpretation and Conclusion .................................................................................................. 1-4 1.8 Recommendations ................................................................................................................... 1-4 2.1 Scope of Study ......................................................................................................................... 2-1 2.2 Report Responsibility and Qualified Persons ........................................................................... 2-1 2.3 Effective Dates and Declaration ............................................................................................... 2-3 2.4 Sources of Information ............................................................................................................. 2-3 2.5 Site Visit ................................................................................................................................... 2-4 2.6 Currency, Units of Measure, and Calculations ......................................................................... 2-4 2.7 Acknowledgment ...................................................................................................................... 2-5 3.1 Mineral Tenure and Surface Rights ......................................................................................... 3-1 3.2 Environmental Studies, Permitting, and Social or Community Impact..................................... 3-1 4.1 Property Description and Location ........................................................................................... 4-1 4.2 Mineral Tenure ......................................................................................................................... 4-3 4.3 Royalties, Agreement and Encumbrances ............................................................................... 4-4 4.4 Environmental Liabilities .......................................................................................................... 4-6 4.5 Permitting ................................................................................................................................. 4-6 4.6 Other Significant Factors and Risks ......................................................................................... 4-6 5.1 Accessibility .............................................................................................................................. 5-1 5.2 Climate ..................................................................................................................................... 5-2 MARCH 2021 i Sayona Québec Inc. NI 43-101 – Technical Report Tansim Property 5.3 Local Resources and Infrastructure ......................................................................................... 5-2 5.3.1 Airports, Rail Terminals and Bus Services ................................................................................ 5-2 5.3.2 Local Work Force ...................................................................................................................... 5-2 5.3.3 Additional Support Services ...................................................................................................... 5-3 5.4 Physiography............................................................................................................................ 5-3 6.1 Prior to 1978 ............................................................................................................................. 6-1 6.2 1978 to 1989 – Noranda and SOQUEM .................................................................................. 6-5 6.3 2001 to 2003 – Ressources Minérales Mistassini Inc. ............................................................. 6-8 6.4 2003 to 2018 – Matamec Explorations Inc. .............................................................................. 6-9 7.1 Regional Geology ..................................................................................................................... 7-1 7.1.1 Pontiac Subprovince ................................................................................................................