News ReleaseStria Lithium announces the commencement of stripping and channel sampling at its Jeremiah Project
Stria Lithium Inc.
Ottawa, ON – TheNewswire - May 02, 2024 - Stria Lithium Inc. (TSXV:SRA) (OTC:SRCAF) (“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. Click Image To View Full Size 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% Li 2 O 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. 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 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 anomalies were evaluated in Autumn 2023, and final results are expected in coming weeks. Stria’s newest project, Jeremiah, resides within the Abitibi region of Quebec. The Jeremiah project consists of 12 titles for a total 683 hectares. Stria’s successful 100% optioning of the property was driven by a recently discovered spodumene-bearing pegmatite, considered a genuine LCT pegmatite, reported in outcrop in the centre 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 LaMotte Batholith, and its sister intrusion the LaCorne Batholith, are considered to be 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 at their Authier project, 11 km to the southwest. All the numerous lithium occurrences in this area are located at the fringe of these intrusives, 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, with who courteous and constructive relations were established. 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 local communities and stake-holders, and engaging openly and respectfully as neighbours and collaborators in this exciting project that has the potential to create lasting jobs and prosperity. 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 Follow us on: Twitter @StriaLithium Instagram @strialithium Facebook http://www.facebook.com/strialithium LinkedIn http://www.linkedin.com/company/stria-lithium/ 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 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release. 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.
May 02, 2024 11:53 AM Eastern Daylight Time
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