Cygnus Metals appoints BBA consultants to conduct an initial baseline assessment and geochemical characterization at the Central Pontax Lithium (Stria/ Cygnus – Joint Venture) Stria Lithium, Inc.
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RELEASE: IMMEDIATE
T
SX: SRA.V
Cygnus Metals appoints BBA consultants to conduct an initial
baseline assessment and geochemical characterization at the
Central Pontax Lithium (Stria/ Cygnus – Joint Venture)
Stria Lithium, Inc. (TSX.V: SRA)
Ottawa, ON, June 14, 2023 - Stria Lithium Inc. (TSX-V: SRA) (“Stria” or the “Company”) is pleased
to announce that its joint venture partner Cygnus Metals has appointed BBA consultants to conduct
an initial baseline assessment and geochemical characterization at the Pontax Lithium project.
The studies, which will be completed by consultants BBA, are an important step towards project development
and will help outline the economic viability of the project’s mineral resources and identify key issues relating
to project development.
BBA will prepare an Environmental and Social Scoping Report (ESSR), which is the initial requirement
towards completing environmental baseline studies on the path to a Preliminary Economic Assessment (PEA).
In addition to the ESSR, an initial geochemical assessment of the ore and waste rock will also be completed.
This is a key requirement for mine permitting and plays an integral role in supporting mine planning and
development at the PEA level.
These early-stage studies will be part funded by an approved grant of up to C$275,000 from Quebec’s Ministry
of Energy and Natural Resources (MERN). The grant was awarded as part of the Government of Quebec’s
program to support mineral exploration for minerals needed for green and renewable energy technologies as
outlined in its 2020-25 Plan for the Development of Critical and Strategic Minerals.
The location of the Pontax Project provides a distinct advantage and significantly increases the development
prospects. Not only is the project located just 4km from a main highway with Hyd ro-Quebec power
infrastructure running through the project, but it also sits in central James Bay just 30km from Allkem’s James
Bay deposit. James Bay is currently in development stage with federal ESIA approval, ongoing engineering
works and completion of Hydro-Quebec powerlines installed to site.
For complete release and further information please see link to full press release by Cygnus Metals below
date June 14, 2023.
https://static1.squarespace.com/static/63db4e730ee40c06528839ff/t/64890f136de73e5f524b28a5/168670389
3365/20230614+Pontax+Project+Studies+to+commence+ahead+of+Maiden+Resource.pdf
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 Central Pontax Lithium Project covers 36 square kilometres, including 8 kilometres of strike along the
prospective Chambois Greenstone Belt. Stria’s Pontax II covers 55 square kilometres. 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.
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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 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 indu stry and its
investors with a rare, if not unprecedented, opportunity for growth and prosperity well into the next decade
and beyond.
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.
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
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
+1(613) 612-6060
Investors Relations, Stria Lithium Inc.
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the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.
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