(TheNewswire)
Ottawa, ON – TheNewswire - April 24, 2023 – Stria Lithium Inc., (TSXV:SRA), (OTC:SRCAF), an emerging resourceexploration company developing Canadian lithium reserves to meetlegislated demand for electric vehicles and their rechargeablelithium-ion batteries, ispleased to announce the best result to date from the winter drillingprogram at its the Pontax Lithium Project in the Eeyou Istchee JamesBay Territory of Québec , Canada.
The latest assays from seven holesinclude up to 9.27m (true width) at 1.86 % Li 2 O at a depth of 298m on hole 975-23-040, the best result to date fromthe winter drilling program and one of the top intercepts in theentire project . The completionof the drilling program paves the way for a Maiden Resource in 2023.
The results confirm the potentiality of the deposit tohost significantly wide and rich spodumene dykes at depth. The sevenholes cited in this release, drilled in February, are mostly collared to the north-west of the deposit,drilling south-east under the previous holes. The winter drill programcompleted in early April totalled 32 holes and 9,614 metres, and thereare now in excess of 1,400 samples awaiting assays expected to becompleted in June 2023.
The drilling program at Stria’sPontax property is being financed and conducted by Stria’s projectpartner, Cygnus Metals Ltd. of Australia, and has been designed to systematically stepout from the known mineralisation at Pontax Central – an extensivespodumene-bearing pegmatite swarm which outcrops over 700m of strike.
The most significant intersectionresults from each of the current drill holes include:
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DDH975-22-030: 1.83 m (true width*) @ 0.85%Li O** from 216.6 m to 219.3m. corelength
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DDH975-22-035: No significant results
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DDH975-22-036: 1.44 m (true width*) @ 1.28%Li O** from 488.35 m to 490.05 m corelength
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DDH975-22-037: 1.47 m (true width*) @ 1.24%Li O** from 180.2 m to 182.2 m corelength
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DDH975-22-038: No significant results
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DDH975-22-039: 1.96 m (true width*) @ 1.22%Li O** from 235.55 m to 238.15 m corelength
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DDH975-22-040: 9.27 m (true width*) @ 1.86% Li ** from 367.75m to 379.55m core length
*: Truethickness, according to the dyke dip and drill hole plunge at the lociof the intersection.
**: Weighted average usinga cut-off grade of 0.5% Li 2 O, excluding lithium bearing wallrock (FeO >5%), a minimum true thickness of 1 metre, no external dilution, andwallrock internal dilution set at 0% Li 2 O.
***: Intervalcalculations according to criteria used in previous Stria’communication, These calculations are based on different parametersthan those used in Cygnus Metals’ press release, dated March20 th 2023, leading to minor differences on intervalslengths and grades.
One hole DDH975-23-030 assayed at5409 ppm tantalum (0.66% Ta 2 O 5 ) over 30 centimetres. Coltan, a tantalum oxide, is a common andhighly valuable by-product mineral found in spodumene-bearingpegmatite dykes. However, evaluating its abundance in pegmatite isdifficult due to its extreme heterogeneous (nuggety) distribution. Atotal of 10 samples exceeded the cut-off grade of 200 ppm Ta.
Dean Hanisch, CEO of Stria Lithium,said today: “We are very pleased with these initial results as theyclearly demonstrate the potential for significant mineralization atdepth. The results are consistent with these types of pegmatite dykeswarms in the region, and we look forward to receiving further assaysfrom the winter program.”
Drilling was conducted by RJLLDrilling Inc. from Rouyn-Noranda using three skid-mounted drill rigs,and was supervised by IOS Services Geoscientifiques Inc. Collarlocations were measured with a sub-metre precision GPS device, whiledownhole deviation was measured with the use of a Reflex device. Core,NQ in diameter, has been logged on site and expedited by road carrierto IOS facilities in Saguenay for sampling and storage. Core sampleswere cut in half with a diamond saw, tagged and bagged to be shippedto the SGS Lakefield laboratory by road carrier for preparation. Thecurrent release includes a total of 722 core samples which werecrushed (75% <2mm) and pulverized (85% <75?m). Assaying hasbeen conducted by SGS Burnaby with the use of ICP-OES and ICP-MS aftersodium peroxide fusion (GE_ICM90A50). SGS-Canada is a ISO/IEC 17025accredited laboratory. Quality control has been monitored by anIOS-certified chemist through the insersion of 26 sample blanks, 23preparation blanks, 18 certified reference material Oreas-147, 17certified reference material Oreas-148 and 16 certified referencematerial Orea-149, for a total of 100 insertions (14%).
Figure 1:
Plan view ofPontax Central with the location of all drilling to date,
Figure 1:
Plan view ofPontax Central with the location of all drilling to date,
highlightingrecent results with section location.
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.
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 cellphones and power tools to electric cars andindustrial-scale energy storage for renewable power sources such aswind and solar generation.
Stria’s Pontax Lithium Project covers 36 square kilometres, including 8kilometres of strike along the prospective Chambois Greenstone Belt.The region, known as the Canadian “Lithium Triangle,” is one ofonly a few known sources of lithium available for hard rock mining inNorth America.
Stria’s Pontax property is situated close to anindustrial powerline and a major paved highway, about 310 km north ofthe 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.
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.
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.
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.
APPENDIX A – Drillholes withResults
Coordinates given in UTM NAD83 (Zone 18)
Hole ID | Easting (m) | Northing (m) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) | ||
975-22-030 | 362740 | 5754609 | 249.28 | 325 | -50 | 240 | ||
975-23-035 | 362726 | 5754795 | 249.51 | 325 | -50 | 159 | ||
975-23-036 | 362742 | 5755121 | 225.67 | 145 | -50 | 510 | ||
975-23-037 | 362742 | 5754865 | 234.28 | 145 | -50 | 300 | ||
975-23-038 | 362359 | 5754628 | 237.45 | 145 | -50 | 210 | ||
975-23-039 | 362422 | 5754711 | 237.74 | 145 | -50 | 261 | ||
975-23-040 | 362690 | 5755015 | 227.26 | 145 | -50 | 486 |
APPENDIX B – SignificantIntercepts
Significant intersections use a cut-off grade of 0.5%Li 2 O in pegmatite, noexternal dilution and internal dilution from wallrock accounted as 0%.Intercept lengths may not add up due to rounding to the appropriatereporting precision.
Hole ID | From | To | Interval | True Thickness | Vertical depth | Li2O |
(m) | (m) | (m) | (m) | (m) | (%) | |
975-22-030 | 178.40 | 180.40 | 2.00 | 1.31 | 132.45 | 0.64 |
216.60 | 219.30 | 2.70 | 1.83 | 158.81 | 0.85 | |
975-23-035 | No significant intercept | |||||
975-23-036 | 437.65 | 439.30 | 1.65 | 1.37 | 306.08 | 1.47 |
484.30 | 486.85 | 2.55 | 2.16 | 335.16 | 1.01 | |
488.35 | 490.05 | 1.70 | 1.44 | 337.34 | 1.28 | |
975-23-037 | 180.20 | 182.20 | 2.00 | 1.47 | 140.01 | 1.24 |
975-23-038 | No significant intercept | |||||
975-23-039 | 206.60 | 207.95 | 1.35 | 1.01 | 154.63 | 1.66 |
214.80 | 218.05 | 3.25 | 2.44 | 161.23 | 1.47 | |
226.45 | 229.10 | 2.65 | 1.99 | 169.39 | 1.10 | |
235.55 | 238.15 | 2.60 | 1.96 | 175.90 | 1.22 | |
975-23-040 | 367.75 | 379.55 | 11.80 | 9.27 | 277.83 | 1.86 |
383.20 | 386.10 | 2.90 | 2.29 | 285.33 | 2.26 | |
390.25 | 394.10 | 3.85 | 3.04 | 290.44 | 0.88 |
APPENDIX C – Cross-sections
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Cross sections D, F, G, H and J,though Pontax Central looking towards the NE, showing the currentreleased drillholes completed by Cygnus with intervals plus historicor pending drillholes with spodumene dyke location. Interval lengthexpressed as true dyke thickness.
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