(TheNewswire)
Ottawa, ON - TheNewswire- November 21, 2023 - Stria LithiumInc. (TSXV:SRA) ( OTC:SRCA )(FRANKFURT:S35A) (“StriaLithium”, the “Company”) is pleased to announce drilling hasrecommenced at its Pontax Central joint venture project.
Stria lithium’s joint venturepartner Cygnus Metals has recommenced drilling at PontaxCentral. The drill programaims to test the extent of known mineralization through step outdrilling. Stria’s joint venture partner Cygnus Metals has a maiden JORC inferred resource Estimate(MRE) of 10.1Mt at 1.04% Li 2 O based on the central areaof the known mineralisation.
This JORC estimate establishes Pontax Central as a serious player inthe Canadian Lithium James Bay region. Cygnus Metals being an ASXissuer, they adhered to Australian JORC Code 2012 guidelines, meaningthat such mineral resource estimate is not necessarily current inregard of the Canadian National Instrument 43-101 code.
Please see press release link https://wcsecure.weblink.com.au/pdf/CY5/02696744.pdf
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. Cygnus Metals being an ASXissuer, they adhered to Australian JORC Code 2012 guidelines, meaningthat such mineral resource estimate is not necessarily current inregard of the Canadian National Instrument 43-101 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. Stria hasadded to this project by recently acquiring 24claims, for 1276.5 hectares that are strategically located northeastof 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 itspeople.
The technical content disclosed in the current pressrelease was reviewed and approved by Réjean Girard, P.Geo andpresident of IOS Services Geoscientifiques Inc, a qualified person asdefined under National Instrument NI-43-101.
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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