(TheNewswire)
O ttawa , ON - TheNewswire- January 13, 2023 - Stria LithiumInc. (TSXV:SRA) (“Stria”or the “Company”) ispleased to announce that the helicopter-supported core drillingprogram has resumed after Christmas holidays at its flagship PontaxLithium property, in west-central Eeyou Istchee Baie-James Territoryof northern Québec. The drilling program aims to complete another 3holes as it waits for the completion of a winter road to mobilizethree land-based drill rigs to the site. This road is vital forcarrying out the proposed 12,000 plus metres winter program designedto delineate a resource as well as test the extensions of the CentralPontax zone, to be completed by early April 2023.
The winter road construction contract was awarded toWaska Resources, a local indigenous company based in Waskaganish, Qc.We anticipate the road should be complete by the end of January2023.
The winter core drilling program at the Pontax LSPDprospect was designed and will be overseen by partner Cygnus GoldLimited (ASX:CY5) (“ Cygnus ”).
IOS Services Géoscientifiques Inc. (IOS) of Saguenay,Québec, are providing technical and logistical support for the winterdrilling program while core drilling was performed by Forage RJLL ofRouyn-Noranda, Québec.
In July 2022, Stria announced a partnership with CygnusGold Limited (ASX: CY5) (“ Cygnus ”) by which Cygnus has been grantedthe sole and exclusive option to acquire up to a 70 % undividedinterest in Stria’s Pontax-Lithium property (“ Pontax ”) under atwo-stage option for total cash payments of $6 million and explorationexpenditure commitments totalling $10 million. Cygnus has beenexploring the property under the terms of the first of the two-stageoption, by which Cygnus is required to incur exploration expenditureson the Property in the amount of $4 million over a period of 18months.
Figure 1: Winter Road being developedat Pontax Lithium Project,Fall 2022
Stria Lithium is a Canadian junior mineralexploration company with an expanding technology focus and has a 100%interest in the Pontax spodumene lithium project in NorthernQuébec.
Lithium is a critical metal in the universal fightagainst global warming. It is a core component of Lithium-ionbatteries used for powering electric vehicles and for industrial scaleenergy storage.
The technical content disclosed in the currentpress-release was reviewed and approved by Réjean Girard, P.Geo andpresident of IOS Services Geoscientifiques Inc, a qualified person as defined under National Instrument NI-43-101.
For more information about Stria Lithium and the PontaxLithium project, please visit https://strialithium.com
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For more information on Stria LithiumInc., please contact:
Dean Hanisch
CEO Stria Lithium
+1(613) 612-6060
Kimberly Darlington
Communications, Stria Lithium Inc.
514-771-3398
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the accuracyor adequacy of this release.
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Except for statements of historical fact, this newsrelease contains certain “forward-looking information” within themeaning of applicable securities law. Forward-looking information isfrequently characterized by words such as “plan”, “expect”,“project”, “intend”, “believe”, “anticipate”,“estimate” and other similar words, or statements that certainevents or conditions “may” or “will” occur. Although webelieve that the expectations reflected in the forward-lookinginformation are reasonable, there can be no assurance that suchexpectations will prove to be correct. We cannot guarantee futureresults, performance or achievements. Consequently, there is norepresentation that the actual results achieved will be the same, inwhole or in part, as those set out in the forward-lookinginformation.
Forward-looking information is based on the opinionsand estimates of management at the date the statements are made andare subject to a variety of risks and uncertainties and other factorsthat could cause actual events or results to differ materially fromthose anticipated in the forward-looking information. Please refer tothe risk factors disclosed under our profile on SEDAR atwww.sedar.com. Readers are cautioned that this list of risk factorsshould not be construed as exhaustive.
The forward-looking information contained in this newsrelease is expressly qualified by this cautionary statement. Weundertake no duty to update any of the forward-looking information toconform such information to actual results or to changes in ourexpectations except as otherwise required by applicable securitieslegislation. Readers are cautioned not to place undue reliance onforward-looking information.
The technical aspects of the currentpress release have been reviewed by Marc-AndréBernier, géo. (QC), P.Geo. (ON), M.Sc., Senior Geoscientist for Table Jamésienne deConcertation Minière , a consultant to theCompany and a Qualified Person as defined under National Instrument(NI) 43 – 101 Standards of Disclosure for Mineral Projects hasreviewed and approved the technical content of this newsrelease.
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