(TheNewswire)
Ottawa, ON – TheNewswire - May 02, 2024 - Stria Lithium Inc.(TSXV:SRA) (OTC:SRCAF) (“Stria” or the“Company”) is excited toannounce the launch of its latest exploration initiative at recentlyacquired project Jeremiah, situated just 18 km from Sayona's NorthAmerican Lithium operation—the largest source of hard rock lithiumproduction in North America.
Building on promising preliminary data, Stria Lithium'scurrent focus involves comprehensive stripping and channel sampling ofexposed pegmatite outcrops. This effort follows initial findings fromchip samples that demonstrated a lithium content of 0.54% (Li20).These activities are expected to yield critical data on theoccurrences of spodumene and the potential of this favourable settingto host lithium-caesium-tantalum (LCT) pegmatites.
Dean Hanisch, Stria’s CEO, stated, “ A fortunate development at Jeremiah is therecent forestry harvesting of the land by local authorities, which hassignificantly simplified project access and reduced the cost of thenecessary stripping processes to expose Li-bearing host rocks. Thisnot only speeds up the preparatory work but also minimizesenvironmental impact, aligning with Stria’s commitment tosustainable and responsible exploration practices ”.
The Jeremiah project is strategically positioned wherethe fertile LaMotte batholith intersects the volcanic host rocks, ageological setting similar to other productive sites in the vicinity.The Company has successfully secured all necessary permits fromlandholders and public authorities for the upcoming operations.
Stria has contracted local experts to carry out thefieldwork, which is anticipated to conclude within seven days. Samplescollected during this phase will be promptly sent to laboratories forassay, with results expected to guide further exploration anddevelopment strategies based on their analysis.
Stria Lithium capitalized on the recent market dip toacquire a promising property only 18 km away from Canada’s soleNorth American lithium producer/concentrator, aligning with theCompany’s strategy to identify ore bodies near existing ordeveloping mines to facilitate ore sales or liquidity events withoutrequiring capital expenditure. This venture represents a significantstep forward in Stria Lithium’s mission to capitalize on the growingdemand for North American lithium, essential for renewable energytechnologies and electric vehicles.
The location of Project Jeremiah inrelation to lithium producing mines and deposits in the Abitibi regionof Quebec.
About Stria Lithium
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. TheCompany is committed to growth through responsible and efficientexploration and development of its mining assets.
Stria’s Central Pontax Lithium Project covers 36 squarekilometres, including 8 km of strike along the prospective ChamboisGreenstone 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’s Pontax Central Project Joint Venture with Cygnus Metalsnow has a maiden JORC-compliant inferred mineral resource estimate(MRE) of 10.1Mt at 1.04% Li 2 O based on the central area of the knownmineralisation.
This JORC estimate establishes Pontax Central as a significantoccurrence in the emerging James Bay lithium region. Cygnus Metals,being an ASX issuer, adhered to Australian JORC Code 2012 guidelines,meaning that such mineral resource estimate is not necessarilycompliant with CIM and National Instrument NI 43-101 standards and theCompany is not considering them as such at this time.
Cygnus Metals is committed to fully funding andmanaging the current two-stage exploration and drilling program to amaximum of $10 million at Stria’s Pontax property and will also payStria up to $6 million in cash. In return, Cygnus may acquire up to a70% interest in the property. Cygnus has fulfilled its stage 1requirements within the agreement and has now earned its 51% interestin the property.
Stria’s other significant project, Pontax II covers 55 square kilometres,approximately 25 km to the west-south-west of Pontax Central and islocated adjacent to the Billy-Diamond paved highway. Stria has addedto this project by recently acquiring 24 claims,for 1276.5 hectares that are strategically located northeast ofStria’s Pontax II claims. Pontax II claims arein highly active prospective zones, situated to the west southwest ofStria/Cygnus lithium discovery and situated to the west of the PatriotBattery Metals (PMET.V) Pontax project, and south of BrunswickExploration (BRW.V). Stria’s Pontax propertiesare both situated close to an industrial powerline and a major pavedhighway, about 310 km north of the North American rail network thatleads to the industrial heartland. Stria Lithiumpreviously reported highly anomalous tantalum oxide grain counts intill samples up to 797 grains, the highest count ever recorded by thelaboratory. The anomalies were evaluated in Autumn 2023, and finalresults are expected in coming weeks.
Stria’s newest project, Jeremiah, resides within theAbitibi region of Quebec. The Jeremiah projectconsists of 12 titles for a total 683 hectares. Stria’s successful100% optioning of the property was driven by a recently discoveredspodumene-bearing pegmatite, considered a genuine LCT pegmatite,reported in outcrop in the centre of the property, which returned0.54% Li2O (2500 ppm Li) from a grab sample.
The property is conveniently located near the villageof St-Mathieu d'Harricana, and easily accessible through privateforestry roads. Three more claims, isolated between 5 and 8 km to thewest are also included in the land package.
Project Jeremiah is strategically located at theperiphery of the LaMotte Batholith, straddling its northern contactwith the Deguisier mafic volcanic formation and the sediments of theCaste Formation. The LaMotte Batholith, and its sister intrusion theLaCorne Batholith, are considered to be related to the source of thelithium pegmatite currently mined by Sayona Mining at their NorthAmerican Lithium Mine, 22 km east of Jeremiah, as well as at theirAuthier project, 11 km to the southwest. All the numerous lithiumoccurrences in this area are located at the fringe of theseintrusives, where the last differentiated magmas, such as lithiumpegmatite, are injected. The Project Jeremiah properties surfacerights are fortunately held with private landholders and amunicipality, with who courteous and constructive relations wereestablished.
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 local communities and stake-holders, andengaging openly and respectfully as neighboursand collaborators in this exciting project that has the potential tocreate lasting jobs and prosperity.
The scientific and technical content disclosed hereinwas reviewed and approved by Réjean Girard, P.Geo and president ofIOS Services Geoscientifiques Inc, a qualified person as defined underNational Instrument 43-101 Standards of Disclosure for MineralProjects.
Reference:
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JORC Mineral Resource Estimate of Pontax Project, JamesBay Quebec, Brian Wolfe; Duncan Grieve, August 14, 2023.
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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