(TheNewswire)
Ottawa, ON - TheNewswire- December 12, 2023 - Stria Lithium Inc. (TSX-V:SRA) (“Stria” orthe “Company”) is pleased to announce the appointment of LarrySegerstrom as a new Director of the Company.
Mr. Segerstrom is abilingual senior mining professional with more than 37 years ofexploration, operations, and business experience.
His past management positions include COO of ParamountGold and Silver Corp in Mexico, and Manager of Geology of the GrasbergMining District for Freeport-McMoRan in Indonesia.
Mr. Segerstrom has been involved in severaldiscoveries, including leading the teams that discovered and developednew resources of more than 750,000 ounces of gold and 60 millionounces of silver with Paramount Gold & Silver (PZG), and new orereserves totalling 3.4 billion pounds of copper and 3.6 million ouncesof gold with Freeport.
Larry Segerstrom stated : “ I have been watching the ecosystem beingdeveloped between federal, provincial and battery technology companiesin Quebec and the energy independence it will bring to North Americafor our future. I look forward to working in Quebec as it is one ofworld’s most mining friendly jurisdictions. I have worked withmanagement in the past in a successful venture and therefore lookforward to assisting them in executing their strategy of unearthingearly-stage lithium projects and partnering with skilled explorationand operational companies”.
He holds a M.Sc. in Economic Geology from theUniversity of Arizona, a M.B.A. in Global Management, and is aQualified Person under Canadian National Instrument 43-101.
Jeff York, Chairman of Stria Lithium said today: “Stria continues to expandand grow its portfolio of Lithium projects within Quebec as part ofits overall strategy. We hope to replicate the model achieved atPontax Central and to this end we needed to increase our geologicalexpertise at a senior level. Mr. Segerstrom has had decades ofexperience reviewing and exploring projects and will be instrumentalin us assessing properties going forward. Mr. Segerstrom will be avalued board member that will assist our culture of good governanceand operational excellence in addition to his unique skills indiscovering and developing resources”.
Mr. Segerstrom will be replacing Mr. Harry Martyniukwho has stepped down from the board to continue with his manysuccessful business operations. Mr. Martyniuk’s resignation iseffective as of December 12, 2023. “On behalf of the board and the wholeteam at Stria Lithium, I would like to thank Mr Martyniuk for hisservice and contributions over the past 3 years and wish him continuedsuccess in his business ventures”, said JeffYork, Chairman of the board of directors of 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.
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’s PontaxCentral Project Joint Venture with Cygnus Metals now has a maiden JORCinferred 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 serious player inthe Canadian Lithium James Bay region. CygnusMetals being an ASX issuer, they adhered to Australian JORC Code 2012guidelines, meaning that such mineral resource estimate is notnecessarily current in regard of the Canadian National Instrument43-101 code.
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 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.
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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