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. An aggressive and well-funded drilling program is under way at Stria’s Pontax property in the lithium-rich James Bay region of northern Quebec.
Assay results from the latest drilling at the Pontax property will be announced in Q1 , 2023. Preliminary shallow drilling in 2017 and 2020 found lithium-bearing spodumene deposits in 17 of 18 test holes. The best intercept was 21.39m grading 1.16% Li2O in drill hole 975-17-0142, comparable to other properties under development in the region.
The Pontax Lithium Project covers 145 square kilometres, including 10km of strike along the highly prospective Chambois Greenstone Belt. The region, known as the Canadian “Lithium Triangle,” is one of only a few sources of lithium from hardrock mining in North America, and is considered one of the most endowed lithium terranes in the world.
Another part of the Stria Advantage is trusted, experienced leadership: Stria’s exciting project on the leading edge of the Green Revolution has attracted a strong team of successful executives and entrepreneurs, including Board Chair Jeffrey York, formerly CEO of the hugely successful Giant Tiger national chain of discount stores, and more recently head of the equally successful Farm Boy grocery retailer.
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 equity growth and prosperity well into the next decade and beyond.
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.
Until now, a majority of the world’s lithium has come from China, South America and Australia. Recognizing the critical importance of lithium batteries to the future of the North American electric vehicle industry, governments in Canada and the U.S. are investing billions of dollars in helping to create a reliable North American supply chain for EV batteries, starting with support for lithium exploration and development companies such as Stria.
The Government of Quebec has already approved early-stage funding for Stria, and a $4.7 billion infrastructure program in partnership with the James Bay Cree (Eeyouch) to improve roads, rail, ports and access to hydroelectric power in the Lithium Triangle region.
At the same time, the Government of Canada has announced $3.8 billion to support the development of a domestic lithium industry, including $1.3-billion for a state-of-the-art refinery in Becancour, Quebec, accessible by highways from Stria’s Pontax property.
Similarly, the U.S. government passed a law in 2022 tying federal electric vehicle subsidies and incentives in that country to the use of North American lithium and other raw materials in the batteries powering those EVs.
Stria’s business model is to partner for needed expertise and services. In July, 2022, Stria entered into a relationship 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 a high level of expertise and an impressive record of successful resource exploration and development projects.
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 may acquire up to a 70% interest in the property. The Australian firm has already completed a 3,000-metre drilling program with assay results expected in Q1, 2023, and aims to complete another 12,000 metres by Spring.
Stria is committed to exceeding 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 neighbors and collaborators in an exciting project with the potential to create lasting jobs and prosperity for Eeyou Istchee and its people.
To this end, Stria has retained the services of Sara Loft as Special Advisor for Indigenous Relations. Ms. Loft is the founder of Tawi:ne Consulting, an Indigenous-owned and operated company specializing in Indigenous engagement and consultation. She brings to Stria extensive experience in Indigenous relations, including in her former role as Special Advisor to the National Chief of the Assembly of First Nations. Her firm’s involvement in and understanding of Indigenous community complexities, culture, traditions, and protocol makes Tawi:ne Consulting Inc. invaluable to Stria.
