(OTTAWA, Canada) – Feb. 17, 2023 – Stria Lithium Inc. (TSXV:SRA) an emerging resource exploration company developing Canadian lithium reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries, is pleased to announce promising assay results from the first two drill holes at depth on the Pontax Lithium Project (“Pontax”) in the James Bay region of Québec, Canada.
Assays include 10.2 m (true width) at 1.34% Li2O, and a doubling of the depth of known mineralization to 230m. These results further confirm previous exploration activities on the site and are only the first results of 14 holes drilled to date, totalling 3,858 metres, as part of an aggressive 15,000-metre definition and exploration drilling program now under way on Stria’s Pontax property in the west-central Eeyou Istchee James Bay (EIJB) Territory. A winter road has been opened from the main highway to the Pontax site, and mutiple drill rigs are now on site with the aim of establishing a maiden resource by mid–2023. Assays from the remaining 12 holes are currently pending at the laboratories.
The drilling program at Stria’s Pontax property is being financed and conducted by Stria’s project partner, Cygnus Gold Ltd. of Australia, and has been designed to systematically step out from known mineralisation at Pontax Central – an extensive spodumene-bearing pegmatite swarm which outcrops over 700m of strike.
Significant intersection results from the latest drilling include;
- DDH975-22-027:
- 2.82 m* (4.3m of core length) @ 1.84% Li2O** at a depth of 158 metres(from 227.6m to 231.9m)
- 6.04 m* (9.21m core length) @ 1.44% Li2O** at a depth of 172 metres (from 247.1m to 256.3m)
- Five (5) minor intervals of true width between 1.51m* and 2.02m* @ 0.84% to 1.46% Li2O**
- Cumulative true thickness of mineralized dyke of 4 metres
- DDH975-22-028:
- 3.44 m* (5.7m of core length) @ 1.35% Li2O** at a depth of 144 metres (from 194.3m to 200.0m)
- 8.54 m* (13.3m of core length) @ 1.34% Li2O** at a depth of 212 metres (from 300.2m to 313.5m)
- Three (3) minor intervals of true width between 1.08m* and 1.55m* @ 0.67% to 0.82% Li2O**
- Cumulative true thickness of mineralized dyke of 9 metres
*: True thickness, assuming the dykes are dipping -85o to the NNW
**: Weighted average using a cut-off grade of 0.5% Li2O on spudumene dyke only, excluding lithium bearing wallrock (FeO > 5%), a minimum true thickness of 1 metre, no external dilution, and wallrock internal dilution set at 0% Li2O.
Drilling was conducted with a single heliportable rig by RJLL Drilling Co. from Rouyn-Noranda and supervised by IOS Services Geoscientifiques Inc. Collar location was measured with a high resolution GPS Geode device, while downhole deviation was measured with the use of a Reflex device. Core, NQ in diameter, has been logged on site and expedited by road carrier to IOS facilities in Saguenay, Quebec, for sampling and storage. Core samples were cut in half with a diamond saw, tagged and bagged to be shipped to SGS Lakefield laboratory by road carrier for preparation. Core samples were crushed (75% <2mm) and pulverized (85% <75μm). Assaying has been conducted by SGS Burnaby with the use of ICP-OES and ICP-MS after sodium peroxide fusion (GE_ICM91A50). SGS-Canada is an ISO/IEC 17025 accredited laboratory. Quality control has been monitored by an IOS certified chemist through the insersion of 7 sample blanks, 7 preparation blanks, 5 certified reference material Oreas-147, 4 certified reference material Oreas-148 and 5 certified reference material Orea-149, for a total of 28 insertions (15%).
Dean Hanisch, CEO of Stria Lithium, said today: “We are excitied to be finally getting an aggressivce drilling program at depth under way, and are very encouraged by the promising results of the first two holes of 14 drilled to date. The winter road is open and providing economical access to several additional heavy drill rigs. We look forward to reporting more assay results as they become available.”
The latest drilling has stepped out 50m to 100m below existing mineralisation to a vertical depth of 230m, effectively doubling the depth of known mineralisation which remains open in all directions.
Figure 1: Plan view of Pontax Central with the location of all drilling to date. Highlighting recent significant intersections including 8.54m @ 1.34% Li2O and 6.04 @ 1.44% Li2O
Figure 2: Cross section though Pontax Central looking towards the NE, showing both historic drillholes and the recent deeper drillholes completed by Cygnus with results recived to date, including 4.3m @ 1.8% Li2O and 16.5m @ 1.1% Li2O. Interval length expressed as true thickness and depth as vertical depth. The recent drilling is the deepest drilling on the project to date stepping out over 100m from exisiting drilling with mineralisation remaining open in all directions.
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 Pontax Lithium Project covers 36 square kilometres, including 8 kilometres 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 hardrock 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 leading to 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 Gold 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.
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.
The technical content disclosed in the current press release was reviewed and approved by Réjean Girard, P.Geo and president of IOS Services Geoscientifiques Inc, a qualified person as defined under National Instrument NI-43-101.
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
Kimberly Darlington
Communications, Stria Lithium Inc.
kdarlington@strialithium.com
514-771-3398
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The technical aspects of the current press release have been reviewed by Réjean Girard, géo. (QC), President of IOS Services Géoscientifiques Inc., a consultant to the Company and a Qualified Person as defined under National Instrument (NI) 43 – 101 Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.
