(TheNewswire)
Ottawa, ON - TheNewswire- April 12, 2023 - Stria Lithium Inc. (TSX.V:SRA) , a Canadian resource explorationcompany developing lithium reserves, is pleased to announce thesuccessful completion of the winter drilling program at its Pontaxlithium property in the James Bay region of Quebec with assay results duecontinuously over approximately the next 12 weeks.
The latest results are from an aggressive drillingprogram of 32 holes totalling 9,614 metres since the beginning of2023. An initial six holes drilled in 2022 confirmed the continuation of the spodumene-bearing dykes swarm to aminimum vertical depth of 200 metres. Assaysincluded up to 3.99m (true width) at 1.62% Li 2 O , extending the deposit at depth overthe known strike length.
The drilling program at Stria’s Pontax property in the Eeyou Istchee James Bay (EIJB) Territoryof Quebec, Canada, is being financed andconducted by Stria’s project partner, Cygnus Metals Ltd. ofAustralia. The program was designed for resource delineation and tosystematically step out from known mineralisation zones at PontaxCentral, an extensive spodumene-bearing pegmatite swarm.
Dean Hanisch, CEO of Stria Lithium,said today: “The successful completion of such an aggressive winter drillingprogram represents an exciting milestone in the development of ourPontax property, and we look forward to receiving and sharing theassay results as they are processed over approximately the next 12weeks.”
Drilling was conducted by RJLLDrilling Inc. from Rouyn-Noranda, and supervised by IOS ServicesGeoscientifiques Inc. using three rigs transported to the site afterconstruction of a winter road.
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 cell phones 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 from hardrock mining inNorth America.
Stria’s Pontax property is situated close to anindustrial powerline and a major paved highway connecting toQuebec’s 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 Metals Ltd. is committed to fully funding andmanaging the current two-stage exploration and drilling program up to$10 million at Stria’s Pontax property, and will also pay Stria upto $6 million in cash. In return, Cygnus Metals may acquire up to a70% interest in the 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 neighboursand collaborators in an exciting project with the potential to createlasting jobs and prosperity for Eeyou Istchee and its people.
The technical content in the current press release wasreviewed and approved by Réjean Girard, P. Geo and president of IOSServices Geoscientifiques Inc., a qualified person as defined underNational 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.
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