Ottawa, ON, May 02, 2024 – Stria Lithium Inc. (TSX-V: SRA) (“Stria” or the “Company”) is excited to announce the launch of its latest exploration initiative at recently acquired project Jeremiah, situated just 18 km from Sayona’s North American Lithium operation—the largest source of hard rock lithium production in North America.
Building on promising preliminary data, Stria Lithium’s current focus involves comprehensive stripping and channel sampling of exposed pegmatite outcrops. This effort follows initial findings from chip samples that demonstrated a lithium content of 0.54% (Li20). These activities are expected to yield critical data on the occurrences of spodumene and the potential of this favourable setting to host lithium-caesium-tantalum (LCT) pegmatites.
Dean Hanisch, Stria’s CEO, stated, “A fortunate development at Jeremiah is the recent forestry harvesting of the land by local authorities, which has significantly simplified project access and reduced the cost of the necessary stripping processes to expose Li-bearing host rocks. This not only speeds up the preparatory work but also minimizes environmental impact, aligning with Stria’s commitment to sustainable and responsible exploration practices”.
The Jeremiah project is strategically positioned where the fertile LaMotte batholith intersects the volcanic host rocks, a geological setting similar to other productive sites in the vicinity. The Company has successfully secured all necessary permits from landholders and public authorities for the upcoming operations.
Stria has contracted local experts to carry out the fieldwork, which is anticipated to conclude within seven days. Samples collected during this phase will be promptly sent to laboratories for assay, with results expected to guide further exploration and development strategies based on their analysis.
Stria Lithium capitalized on the recent market dip to acquire a promising property only 18 km away from Canada’s sole North American lithium producer/concentrator, aligning with the Company’s strategy to identify ore bodies near existing or developing mines to facilitate ore sales or liquidity events without requiring capital expenditure. This venture represents a significant step forward in Stria Lithium’s mission to capitalize on the growing demand for North American lithium, essential for renewable energy technologies and electric vehicles.
The location of Project Jeremiah in relation to lithium producing mines and deposits in the Abitibi region of Quebec.
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. The Company is committed to growth through responsible and efficient exploration and development of its mining assets.
Stria’s Central Pontax Lithium Project covers 36 square kilometres, including 8 km of strike along the prospective Chambois Greenstone Belt. 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 Central Project Joint Venture with Cygnus Metals now has a maiden JORC-compliant inferred mineral resource estimate (MRE) of 10.1Mt at 1.04% Li2O based on the central area of the known mineralisation.
This JORC estimate establishes Pontax Central as a significant occurrence in the emerging James Bay lithium region. Cygnus Metals, being an ASX issuer, adhered to Australian JORC Code 2012 guidelines, meaning that such mineral resource estimate is not necessarily compliant with CIM and National Instrument NI 43-101 standards and the Company is not considering them as such at this time.
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. Cygnus has fulfilled its stage 1 requirements within the agreement and has now earned its 51% interest in the property.
Stria’s other significant project, Pontax II covers 55 square kilometres, approximately 25 km to the west-south-west of Pontax Central and is located adjacent to the Billy-Diamond paved highway. Stria has added to this project by recently acquiring 24 claims, for 1276.5 hectares that are strategically located northeast of Stria’s Pontax II claims.
Stria Lithium previously reported highly anomalous tantalum oxide grain counts in till samples up to 797 grains, the highest count ever recorded by the laboratory. The Pontax II grain counts stand at the 97.6 centile of the regional population with an average of 156 grains per sample as a comparative basis, a regional survey in the same area conducted by the Ministère de l’Énergie et des Ressources Naturelles du Québec, processed a total of 5950 tantalum oxide grains yielding an average count of 36 grains per samples. The conclusion being the grain counts are suggestive of the proximity of lithium bearing pegmatites.
Pontax II claims are in highly active prospective zones, situated to the west southwest of Stria/Cygnus lithium discovery and situated to the west of the Patriot Battery Metals (PMET.V) Pontax project, and south of Brunswick Exploration (BRW.V).
Stria’s Pontax properties are both 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.
Stria’s newest project resides within the Abitibi region of Quebec and is called Project Jeremiah. The Jeremiah project consists of 12 titles for a total 683 hectares.
Stria’s successful 100% optioning of the property was acquired because of a recently discovered spodumene-bearing pegmatite, considered a genuine LCT pegmatite reported in the outcrop in the center of the property, which returned 0.54% Li2O (2500 ppm Li) from a grab sample.
The property is conveniently located near the village of St-Mathieu d’Harricana, and easily accessible through private forestry roads. Three more claims, isolated between 5 and 8 km to the west are also included in the land package.
Project Jeremiah is strategically located at the periphery of the LaMotte Batholith, straddling its northern contact with the Deguisier mafic volcanic formation and the sediments of the Caste Formation. The La Corne Batholith is considered as related to the source of the lithium pegmatite currently mined by Sayona Mining at their North American Lithium Mine, 22 km east of Jeremiah, as well as their Authier project, 11 km to the southwest. All the numerous lithium occurrences in this area are located at the fringe of this intrusive, where the last differentiated magmas, such as lithium pegmatite, are injected.
The Project Jeremiah properties surface rights are fortunately held with private landholders and a municipality.
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.
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.
The scientific and technical content disclosed herein was reviewed and approved by Réjean Girard, P.Geo and president of IOS Services Geoscientifiques Inc, a qualified person as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Reference:
- JORC Mineral Resource Estimate of Pontax Project, James Bay Quebec, Brian Wolfe; Duncan Grieve, August 14, 2023.
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:
Dean Hanisch
CEO Stria Lithium
dhanisch@strialithium.com
+1(613) 612-6060
Investors Relations, Stria Lithium Inc.
ir@strialithium.com
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