(TheNewswire)
OTTAWA, Canada- TheNewswire – Feb. 17, 2023 - StriaLithium Inc. (TSXV:SRA) (OTC:SRCAF) an emerging resource exploration companydeveloping Canadian lithium reserves to meet legislated demand forelectric vehicles and their rechargeable lithium-ion batteries, is pleased to announce promising assay resultsfrom the first two drill holes at depth on the Pontax Lithium Project(“Pontax”) in the James Bay region of Québec ,Canada.
Assays include 10.2 m (true width) at 1.34% Li 2 O , and a doubling of the depth of known mineralization to 230m. These results further confirm previous exploration activitieson the site and are only the first results of 14 holes drilled todate, totalling 3,858 metres, as part of an aggressive 15,000-metredefinition and exploration drilling program now under way on Stria’sPontax property in the west-central EeyouIstchee James Bay (EIJB) Territory. A winter road has been opened fromthe main highway to the Pontax site, and m utipledrill rigs are now on site with the aim of establishing a maiden resource by mid - 2023. Assays from the remaining 12holes are currently pending at the laboratories.
The drilling program at Stria’s Pontax property isbeing financed and conducted by Stria’s project partner, Cygnus GoldLtd. of Australia, and has been designed tosystematically step out from known mineralisation at Pontax Central -an extensive spodumene-bearing pegmatite swarm which outcrops over700m of strike.
Significant intersection results from the latestdrilling include;
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DDH975-22-027:
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2.82 m* (4.3m of core length) @ 1.84% Li O** at a depth of 158 metres(from227.6m to 231.9m)
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6.04 m* (9.21m core length) @ 1.44% Li O** at a depth of 172 metres (from 247.1m to 256.3m)
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Five (5) minor intervals of true width between 1.51m*and 2.02m* @ 0.84% to 1.46% Li O**
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Cumulative true thickness of mineralized dyke of 21.4 metres
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DDH975-22-028:
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3.44 m* (5.7m of core length) @ 1.35% Li O** at a depth of 144 metres (from 194.3m to 200.0m)
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8.54 m* (13.3m of core length) @ 1.34% Li O** at a depth of 212 metres (from 300.2m to 313.5m)
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Three (3) minor intervals of true width between 1.08m*and 1.55m* @ 0.67% to 0.82% Li O**
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Cumulative true thickness of mineralized dyke of 17.9 metres
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*: True thickness, assuming the dykes are dipping-85 o to the NNW
**: Weighted average using a cut-off grade of 0.5%Li 2 O on spudumene dykeonly, excluding lithium bearing wallrock (FeO > 5%), a minimum truethickness of 1 metre, no external dilution, and wallrock internaldilution set at 0% Li 2 O.
Drilling was conducted with a single heliportable rigby RJLL Drilling Co. from Rouyn-Noranda and supervised by IOS ServicesGeoscientifiques Inc. Collar location was measured with a highresolution GPS Geode device, while downhole deviation was measuredwith the use of a Reflex device. Core, NQ in diameter, has been logged on site and expedited by roadcarrier to IOS facilities in Saguenay, Quebec, for sampling andstorage. Core samples were cut in half with a diamond saw, tagged andbagged to be shipped to SGS Lakefield laboratory by road carrier forpreparation. Core samples were crushed (75% <2mm) and pulverized(85% <75 ? m). Assayinghas been conducted by SGS Burnaby with the use of ICP-OES and ICP-MSafter sodium peroxide fusion (GE_ICM91A50). SGS-Canada is an ISO/IEC17025 accredited laboratory. Quality control has been monitored by anIOS certified chemist through the insersion of 7 sample blanks, 7preparation blanks, 5 certified reference material Oreas-147, 4certified reference material Oreas-148 and 5 certified referencematerial Orea-149, for a total of 28 insertions (15%).
Dean Hanisch, CEO of Stria Lithium, said today: “Weare excitied to be finally getting an aggressivce drilling program atdepth under way, and are very encouraged by the promising results ofthe first two holes of 14 drilled to date. The winter road is open andproviding economical access to several additional heavy drill rigs. Welook forward to reporting more assay results as they becomeavailable.”
The latest drilling has stepped out 50m to 100m belowexisting mineralisation to a vertical depth of 230m, effectivelydoubling the depth of known mineralisation which remains open in alldirections.
Figure 1: Plan view of PontaxCentral with the location of all drilling to date. Highlighting recentsignificant intersections including 8.54m @1.34% Li 2 O and 6.04 @1.44% Li 2 O
Figure 2: Cross section thoughPontax Central looking towards the NE, showing both historicdrillholes and the recent deeper drillholes completed by Cygnus withresults recived to date, including 4.3m @ 1.8%Li 2 O and 16.5m @ 1.1%Li 2 O . Interval length expressed as true thickness and depth asvertical depth. The recent drilling is the deepest drilling on theproject to date stepping out over 100m from exisiting drilling withmineralisation remaining open in all directions.
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 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 hardrock mining in North 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 leading to industrial heartland.
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 Gold is committed to fully funding and managingthe current two-stage exploration and drilling program up to $10million at Stria’s Pontax property, and will also pay Stria up to $6million in cash. In return, Cygnus may acquire up to a 70% interest inthe property.
Stria is committed to exceeding 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 neighborsand collaborators in an exciting project with the potential to createlasting 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 Lithium Inc., pleasecontact:
Dean Hanisch
CEO Stria Lithium
+1(613) 612-6060
Kimberly Darlington
Communications, Stria Lithium Inc.
514-771-3398
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the accuracy or adequacyof this release.
Cautionary Note Regarding Forward-LookingInformation
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.
The technical aspects of the current press release havebeen reviewed by Réjean Girard, géo. (QC),President of IOS Services Géoscientifiques Inc., a consultant to theCompany and a Qualified Person as defined under National Instrument(NI) 43 – 101 Standards of Disclosure for Mineral Projects hasreviewed and approved the technical content of this newsrelease.
APPENDIX A – Drillholes with Results
Coordinates given in UTM NAD83 (Zone 18)
Hole ID | Easting | Northing | RL | Azimuth | Dip | Depth |
975-22-027 | 362939 | 5754676 | 250 | 325 | -50 | 309 |
975-22-028 | 363023 | 5754731 | 248 | 325 | -50 | 333 |
APPENDIX B – Significant Intercepts
Significant intersections use a cut-off grade of 0.5% Li 2 O in pegmatite, no external dilution and internaldilution from wallrock accounted as 0%. Intercept lengths may not addup due to rounding to the appropriate reporting precision.
Hole ID | From (m) | To (m) | Length (m) | Depth (m) | True width (m) | Li2O % |
975-22-027 | 143.00 | 143.75 | 1.50 | 101.12 | 0.96 | 0.87 |
155.96 | 1 56.75 | 1.47 | 110.28 | 0.94 | 1.16 | |
180.54 | 181.35 | 2.30 | 125.41 | 1.51 | 1.79 | |
197.64 | 198.50 | 2.59 | 137.29 | 1.70 | 0.60 | |
204.42 | 205.12 | 1.38 | 142.00 | 0.91 | 1.01 | |
227.59 | 228.59 | 4.30 | 158.10 | 2.82 | 1.08 | |
239.84 | 240.84 | 3.00 | 166.61 | 1.97 | 2.38 | |
247.11 | 248.11 | 9.21 | 171.66 | 6.04 | 0.94 | |
268.19 | 268.91 | 3.00 | 182.91 | 2.02 | 0.79 | |
279.70 | 280.32 | 1.24 | 190.75 | 0.83 | 0.68 | |
976-22-028 | 173.82 | 174.55 | 1.48 | 129.17 | 0.89 | 2.07 |
180.60 | 181.44 | 2.58 | 134.21 | 1.55 | 0.93 | |
188.70 | 189.50 | 1.60 | 140.23 | 0.96 | 1.54 | |
194.32 | 195.00 | 5.72 | 144.41 | 3.44 | 0.96 | |
242.10 | 243.00 | 1.80 | 179.92 | 1.08 | 1.04 | |
267.45 | 268.20 | 2.25 | 195.60 | 1.39 | 1.08 | |
300.15 | 301.00 | 13.30 | 212.24 | 8.55 | 2.51 |
APPENDIX C
Pontax Project Drilling - 2012 JORC Table 1
Section 1 Sampling Techniques and Data
Criteria | JORC Code explanation | Commentary |
Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, orspecific specialised industry standard measurement tools appropriateto the minerals under investigation, such as down hole gamma sondes,or handheld XRF instruments, etc). These examples should not be takenas limiting the broad meaning of sampling. |
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Include reference to measures taken to ensure sample representivityand the appropriate calibration of any measurement tools or systemsused. |
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Aspects of the determination of mineralisation that are Material tothe Public Report. In cases where ‘industry standard’ work has been done this wouldbe relatively simple (eg ‘reverse circulation drilling was used toobtain 1 m samples from which 3 kg was pulverised to produce a 30 gcharge for fire assay’). In other cases more explanation may berequired, such as where there is coarse gold that has inherentsampling problems. Unusual commodities or mineralisation types (egsubmarine nodules) may warrant disclosure of detailed information. |
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Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary airblast, auger, Bangka, sonic, etc) and details (eg core diameter,triple or standard tube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, by what method, etc). |
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Drill sample recovery | Method of recording and assessing core and chip sample recoveries andresults assessed. Measures taken to maximise sample recovery and ensure representativenature of the samples. Whether a relationship exists between sample recovery and grade andwhether sample bias may have occurred due to preferential loss/gain offine/coarse material. |
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Logging | Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to support appropriateMineral Resource estimation, mining studies and metallurgical studies. |
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Whether logging is qualitative or quantitative in nature. Core (orcostean, channel, etc) photography. |
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The total length and percentage of the relevant intersections logged. |
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Sub-sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all coretaken. If non-core, whether riffled, tube sampled, rotary split, etc andwhether sampled wet or dry. For all sample types, the nature, quality and appropriateness of thesample preparation technique. Quality control procedures adopted for all sub-sampling stages tomaximise representivity of samples. Measures taken to ensure that the sampling is representative of thein-situ material collected, including for instance results for fieldduplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the materialbeing sampled. |
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Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratoryprocedures used and whether the technique is considered partial ortotal. |
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For geophysical tools, spectrometers, handheld XRF instruments, etc,the parameters used in determining the analysis including instrumentmake and model, reading times, calibrations factors applied and theirderivation, etc. |
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Nature of quality control procedures adopted (eg standards, blanks,duplicates, external laboratory checks) and whether acceptable levelsof accuracy (i.e. lack of bias) and precision have been established. |
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Verification of sampling and assaying | The verification of significant intersections by either independent oralternative company personnel. |
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The use of twinned holes. |
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Documentation of primary data, data entry procedures, dataverification, data storage (physical and electronic) protocols. |
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Discuss any adjustment to assay data. |
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Location of data points | Accuracy and quality of surveys used to locate drill holes (collar anddown-hole surveys), trenches, mine workings and other locations usedin Mineral Resource estimation. |
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Specification of the grid system used. |
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Quality and adequacy of topographic control. |
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Data spacing and distribution | Data spacing for reporting of Exploration Results. |
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Whether the data spacing and distribution is sufficient to establishthe degree of geological and grade continuity appropriate for theMineral Resource and Ore Reserve estimation procedure(s) andclassifications applied. |
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Whether sample compositing has been applied. |
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Orientation of data in relation to geological structure | Whether the orientation of sampling achieves unbiased sampling ofpossible structures and the extent to which this is known, consideringthe deposit type. |
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If the relationship between the drilling orientation and theorientation of key mineralised structures is considered to haveintroduced a sampling bias, this should be assessed and reported ifmaterial. |
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Sample security | The measures taken to ensure sample security. |
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Audits or reviews | The results of any audits or reviews of sampling techniques and data. |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply tothis section.)
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status | Type, reference name/number, location and ownership includingagreements or material issues with third parties such as jointventures, partnerships, overriding royalties, native title interests,historical sites, wilderness or national park and environmentalsettings. |
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The security of the tenure held at the time of reporting along withany known impediments to obtaining a licence to operate in the area. |
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Exploration done by other parties | Acknowledgment and appraisal of exploration by other parties. |
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Geology | Deposit type, geological setting and style of mineralisation. |
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Drill hole Information | A summary of all information material to the understanding of theexploration results including a tabulation of the followinginformation for all Material drill holes:
If the exclusion of this information is justified on the basis thatthe information is not Material and this exclusion does not detractfrom the understanding of the report, the Competent Person shouldclearly explain why this is the case. |
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Data aggregation methods | In reporting Exploration Results, weighting averaging techniques,maximum and/or minimum grade truncations (eg cutting of high grades)and cut-off grades are usually Material and should be stated. |
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Where aggregate intercepts incorporate short lengths of high-graderesults and longer lengths of low-grade results, the procedure usedfor such aggregation should be stated and some typical examples ofsuch aggregations should be shown in detail. |
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The assumptions used for any reporting of metal equivalent valuesshould be clearly stated. |
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Relationship between mineralisation widths andintercept lengths | These relationships are particularly important in the reporting ofExploration Results. If the geometry of the mineralisation with respect to the drill holeangle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, thereshould be a clear statement to this effect (eg ‘down hole length,true width not known’). |
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Diagrams | Appropriate maps and sections (with scales) and tabulations ofintercepts should be included for any significant discovery beingreported These should include, but not be limited to a plan view ofdrill hole collar locations and appropriate sectional views. |
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Balanced reporting | Where comprehensive reporting of all Exploration Results is notpracticable, representative reporting of both low and high gradesand/or widths should be practiced to avoid misleading reporting ofExploration Results. |
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Other substantive exploration data | Other exploration data, if meaningful and material, should be reportedincluding (but not limited to): geological observations; geophysicalsurvey results; geochemical survey results; bulk samples – size andmethod of treatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics; potentialdeleterious or contaminating substances. |
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Further work | The nature and scale of planned further work (eg tests for lateralextensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions,including the main geological interpretations and future drillingareas, provided this information is not commercially sensitive. |
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