O ttawa , ON - TheNewswire - January 13, 2023 - Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “Company”) is pleased to announce that the helicopter-supported core drilling program has resumed after Christmas holidays at its flagship Pontax Lithium property, in west-central Eeyou Istchee Baie-James Territory of northern Québec. The drilling program aims to complete another 3 holes as it waits for the completion of a winter road to mobilize three land-based drill rigs to the site. This road is vital for carrying out the proposed 12,000 plus metres winter program designed to delineate a resource as well as test the extensions of the Central Pontax zone, to be completed by early April 2023.
The winter road construction contract was awarded to Waska Resources, a local indigenous company based in Waskaganish, Qc. We anticipate the road should be complete by the end of January 2023. Dml Spare Parts Spare Parts
The winter core drilling program at the Pontax LSPD prospect was designed and will be overseen by partner Cygnus Gold Limited (ASX:CY5) (“ Cygnus ”).
IOS Services Géoscientifiques Inc. (IOS) of Saguenay, Québec, are providing technical and logistical support for the winter drilling program while core drilling was performed by Forage RJLL of Rouyn-Noranda, Québec.
In July 2022, Stria announced a partnership with Cygnus Gold Limited (ASX: CY5) (“ Cygnus ”) by which Cygnus has been granted the sole and exclusive option to acquire up to a 70 % undivided interest in Stria’s Pontax-Lithium property (“ Pontax ”) under a two-stage option for total cash payments of $6 million and exploration expenditure commitments totalling $10 million. Cygnus has been exploring the property under the terms of the first of the two-stage option, by which Cygnus is required to incur exploration expenditures on the Property in the amount of $4 million over a period of 18 months.
Figure 1: Winter Road being developed at Pontax Lithium Project, Fall 2022
Stria Lithium is a Canadian junior mineral exploration company with an expanding technology focus and has a 100% interest in the Pontax spodumene lithium project in Northern Québec.
Lithium is a critical metal in the universal fight against global warming. It is a core component of Lithium-ion batteries used for powering electric vehicles and for industrial scale energy storage.
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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Cautionary Note Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Please refer to the risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
The technical aspects of the current press release have been reviewed by Marc-André Bernier, géo. (QC), P.Geo. (ON), M.Sc., Senior Geoscientist for Table Jamésienne de Concertation Minière , 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.
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