- In July, 2022, Stria entered into a partnership with Cygnus Gold Limited (ASX:CY5) in Western Australia, home to some of the world’s largest hardrock lithium deposits. Its team brings to the Pontax project expertise and an impressive record of successful resource exploration and development projects in recent years, creating wealth for shareholders and all stakeholders.
- Cygnus was so impressed with the Pontax property, it made a $1 million payment upon signing the agreement, invested directly in Stria Lithium, and committed to invest up to an additional $15 million in the project.
- Specifically, Cygnus is committed to fully funding and managing the current two-stage exploration and drilling program up to $10 million at Stria’s Pontax property, and will also pay Stria up to $6 million in cash. In return, Cygnus has an exclusive option to acquire up to a 70 per cent interest in the property.
IOS is a respected firm of geological consultants and mineral exploration contractors providing a full range of services to the resource sector in Quebec for the past quarter-century. On the Pontax Project, IOS is managing the drilling program and all of the necessary infrastructure, transportation and other logistics associated with the project.