Stria Lithium Announces Exploration Work Has Commenced on its Pontax II Lithium Project
Ottawa, ON - TheNewswire - Sept 14, 2023 - Stria Lithium Inc. (TSXV:SRA), (OTC:SRCAF), and (FRANKFURT:S35A) (“Stria Lithium”, the “Company”) is pleased to announce that exploration work has commenced on its Pontax II lithium project aimed at following up on its previously released high grade Tantalum sample anomalies.
Due to the forest fires this summer in Quebec access was restricted to our Pontax-II property delaying our summer geological work program. With the recent opening of the Billy Diamond highway (James Bay Road) and of the KM381 Truckstop (accommodations), Stria has reinitiated its prospecting program on the property. The current program, managed by IOS Services Geoscientifiques Inc., consists of helicopter supported prospecting and geological mapping for a period of two weeks, targeting the up-ice area of the two large tantalite dispersion trains (Stria press released of June 29th 2023) suggestive of the presence of spodumene pegmatites. Abundant outcrops are discernible from satellite imageries, suggesting conventional prospecting be the first exploration procedure. The program will include up-ice glacial sediment sampling in the event the source of the tantalite is not located.
Stria Lithium CEO, Dean Hanisch commented: “We are excited to finally get access to the project and begin the initial prospecting program now that the road and Truckstop have reopened. The exploration team will be joined partially by both our CFO Judith Mazvihwa-MacLean who happens to have a unique skillset of also being a geologist as well as myself to gain a better understanding of the property and its potential”.
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 cell phones 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. 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 has entered into a JV agreement with Cygnus Metals (ASX:CY5) on its Pontax Central project. 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 as per above share issuance.
Stria’s other significant project, Pontax II covers 55 square kilometres, approximately 25 kilometres 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.
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.
For more information about Stria Lithium and the Pontax Lithium project, please visit https://strialithium.com
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