(TheNewswire)
Ottawa, ON - TheNewswire- Sept 14, 2023 - Stria Lithium Inc. (TSXV:SRA), (OTC:SRCAF), and(FRANKFURT:S35A) (“Stria Lithium”, the “Company”) is pleasedto announce that exploration work has commenced on its Pontax IIlithium project aimed at following up on its previously released highgrade Tantalum sample anomalies.
Due to the forest fires this summer in Quebec accesswas restricted to our Pontax-II property delaying our summergeological work program. With the recent opening of the Billy Diamondhighway (James Bay Road) and of the KM381 Truckstop (accommodations),Stria has reinitiated its prospecting program on the property. Thecurrent program, managed by IOS Services Geoscientifiques Inc.,consists of helicopter supported prospecting and geological mappingfor a period of two weeks, targeting the up-ice area of the two largetantalite dispersion trains (Stria press released of June29 th 2023) suggestive of the presence of spodumene pegmatites. Abundantoutcrops are discernible from satellite imageries, suggestingconventional prospecting be the first exploration procedure. Theprogram will include up-ice glacial sediment sampling in the event thesource of the tantalite is not located.
Stria Lithium CEO, Dean Hanisch commented:“ We are excited to finallyget access to the project and begin the initial prospecting programnow that the road and Truckstop have reopened. The exploration teamwill be joined partially by both our CFO Judith Mazvihwa-MacLean whohappens to have a unique skillset of also being a geologist as well asmyself to gain a better understanding of the property and itspotential”.
Stria Lithium (TSX-V:SRA) is an emerging resource exploration companydeveloping Canadian lithium reserves to meet legislated demand forelectric vehicles and their rechargeable lithium-ion batteries.
Lithium is a rare metal and an indispensable componentof rechargeable lithium-ion batteries, one of the safest and mostefficient energy storage technologies available today, used ineverything from cell phones and power tools to electric cars andindustrial-scale energy storage for renewable power sources such aswind and solar generation.
Stria’s Central Pontax Lithium Project covers 36 squarekilometres, including 8 kilometres of strike along the prospectiveChambois Greenstone Belt. The region, known as the Canadian “LithiumTriangle,” is one of only a few known sources of lithium availablefor hard rock mining in North America.
Stria has entered into a JV agreement with CygnusMetals (ASX:CY5) on its Pontax Central project. Cygnus Metals iscommitted to fully funding and managing the current two-stageexploration and drilling program to a maximum of $10 million atStria’s Pontax property, and will also pay Stria up to $6 million incash. In return, Cygnus may acquire up to a 70% interest in theproperty. Cygnus has fulfilled its stage 1 requirements within theagreement and has now earned its 51% interest in the property as perabove share issuance.
Stria’s other significant project, Pontax II covers 55 square kilometres,approximately 25 kilometres to the west-south-west of Pontax Centraland is located adjacent to the Billy-Diamond paved highway. Striahas added to this project by recently acquiring 24 claims, for 1276.5 hectares that are strategically locatednortheast of Stria’s Pontax II claims.
Stria Lithium previously reported highly anomaloustantalum oxide grain counts in till samples upto 797 grains, the highest count ever recorded by the laboratory. The Pontax II grain countsstand at the 97.6 centile of the regional population with an averageof 156 grains per sample as a comparative basis, a regional survey inthe same area conducted by the Ministe?re de l’E?nergie et desRessources Naturelles du Que?bec, processed a total of 5950 tantalumoxide grains yielding an average count of 36 grains per samples. The conclusion being the grain counts aresuggestive of the proximity of lithium bearing pegmatites.
Pontax II claims are in highly active prospectivezones, situated to the west southwest of Stria/Cygnus lithiumdiscovery and situated to the west of the Patriot Battery Metals(PMET.V) Pontax project, and south of Brunswick Exploration (BRW.V).
Stria’s Pontax properties are both situated close toan industrial powerline and a major paved highway, about 310 km northof the North American rail network that leads to the industrialheartland.
As momentum builds for the green energy revolution andthe shift to electric vehicles, governments in Canada and the U.S. areaggressively supporting the North American lithium industry,presenting the industry and its investors with a rare, if notunprecedented, opportunity for growth and prosperity well into thenext decade and beyond.
Stria is committed to exceeding the industry’senvironmental, social and governance standards. A critical part ofthat commitment is forging meaningful, enduring and mutuallybeneficial relationships with the James Bay Cree Nation (Eeyouch), andengaging openly and respectfully as neighboursand collaborators in this exciting project that has the potential tocreate lasting jobs and prosperity for Eeyou Istchee and its people.
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
Investors Relations, Stria Lithium Inc.
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