Ottawa, ON, June 14, 2023 – Stria Lithium Inc. (TSX-V: SRA) (“Stria” or the “Company”) is pleased to announce that its joint venture partner Cygnus Metals has appointed BBA consultants to conduct an initial baseline assessment and geochemical characterization at the Pontax Lithium project.
The studies, which will be completed by consultants BBA, are an important step towards project development and will help outline the economic viability of the project’s mineral resources and identify key issues relating to project development.
BBA will prepare an Environmental and Social Scoping Report (ESSR), which is the initial requirement towards completing environmental baseline studies on the path to a Preliminary Economic Assessment (PEA). In addition to the ESSR, an initial geochemical assessment of the ore and waste rock will also be completed. This is a key requirement for mine permitting and plays an integral role in supporting mine planning and development at the PEA level.
These early-stage studies will be part funded by an approved grant of up to C$275,000 from Quebec’s Ministry of Energy and Natural Resources (MERN). The grant was awarded as part of the Government of Quebec’s program to support mineral exploration for minerals needed for green and renewable energy technologies as outlined in its 2020-25 Plan for the Development of Critical and Strategic Minerals.
The location of the Pontax Project provides a distinct advantage and significantly increases the development prospects. Not only is the project located just 4km from a main highway with Hydro-Quebec power infrastructure running through the project, but it also sits in central James Bay just 30km from Allkem’s James Bay deposit. James Bay is currently in development stage with federal ESIA approval, ongoing engineering works and completion of Hydro-Quebec powerlines installed to site.
For complete release and further information please CLICK HERE for full press release by Cygnus Metals dated June 14, 2023.
About Stria Lithium
Stria Lithium (TSX-V: SRA) is an emerging resource exploration company developing Canadian lithium reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries.
Lithium is a rare metal and an indispensable component of rechargeable lithium-ion batteries, one of the safest and most efficient energy storage technologies available today, used in everything from cellphones and power tools to electric cars and industrial-scale energy storage for renewable power sources such as wind and solar generation.
Stria’s Central Pontax Lithium Project covers 36 square kilometres, including 8 kilometres of strike along the prospective Chambois Greenstone Belt. Stria’s Pontax II covers 55 square kilometres. The region, known as the Canadian “Lithium Triangle,” is one of only a few known sources of lithium available for hard rock mining in North America.
Stria’s Pontax property is situated close to an industrial powerline and a major paved highway, about 310 km north of the North American rail network that leads to the industrial heartland.
As momentum builds for the green energy revolution and the shift to electric vehicles, governments in Canada and the U.S. are aggressively supporting the North American lithium industry, presenting the industry and its investors with a rare, if not unprecedented, opportunity for growth and prosperity well into the next decade and beyond.
Cygnus Metals is committed to fully funding and managing the current two-stage exploration and drilling program to a maximum of $10 million at Stria’s Pontax property, and will also pay Stria up to $6 million in cash. In return, Cygnus may acquire up to a 70% interest in the property.
Stria is committed to exceeding the industry’s environmental, social and governance standards. A critical part of that commitment is forging meaningful, enduring and mutually beneficial relationships with the James Bay Cree Nation (Eeyouch), and engaging openly and respectfully as neighbours and collaborators in this exciting project that has the potential to create lasting jobs and prosperity for Eeyou Istchee and its people.
For more information about Stria Lithium and the Pontax Lithium project, please visit https://strialithium.com
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For more information on Stria Lithium Inc., please contact:
CEO Stria Lithium
Investors Relations, Stria Lithium Inc.
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