(TheNewswire)
Ottawa, ON – TheNewswire - November 13, 2023 - Stria Lithium Inc. (TSXV:SRA) (OTC:SRCAF) (FRANKFURT:S35A) (“Stria Lithium”, the “Company”) ispleased to provide an update on its previously staked claims.
Stria lithium had previously staked 3 blocks of claimsbased on Tantalum anomalies as per its press release dated July 2023.In regards to block 1 all the claims were accepted by the ministry andnow this block is comprised of 31 claims. Block 2 consisting of 30claims were also accepted. In regards to Block 3 Stria had initiallystaked a total of 30 claims however 9 claims were refused based ontheir proximity to electrical wires, resulting in a final total of 21successful claims. Therefore these 3 blocks resulted in a total of 82claims.
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. 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 CreeNation (Eeyouch), and engaging openly andrespectfully as neighbours and collaborators in this exciting projectthat has the potential to create lasting jobs and prosperity for EeyouIstchee and its people.
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.
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.
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.
Cautionary Note RegardingForward-Looking Information
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.
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