Stria Lithium reports best result to date from winter drilling at Pontax Property including 9.27m at 1.86% Li2O confirming the potential of the deposit to host signific antly wide and rich
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RELEASE: IMMEDIATE
T
SX: SRA.V
Stria Lithium reports best result to date from winter drilling at
Pontax Property including 9.27m at 1.86% Li2O confirming the
potential of the deposit to host signific antly wide and rich
spodumene dykes at depth
Stria Lithium, Inc. (TSX.V: SRA)
Ottawa, ON April 24, 2023 – Stria Lithium Inc., 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 the best result to date from the winter drilling program at
its the Pontax Lithium Project in the Eeyou Istchee James Bay Territory of Québec, Canada.
The latest assays from seven holes include up to 9.27m (true width) at 1.86% Li2O at a depth of
298m on hole 975-23-040, the best result to date from the winter drilling program and one of
the top intercepts in the entire project. The completion of the drilling program paves the way
for a Maiden Resource in 2023.
The results confirm the potentiality of the deposit to host significantly wide and rich spodumene
dykes at depth. The seven holes cited in this release, drilled in February, are mostly collared to the
north-west of the deposit, drilling south -east under the previous h oles. The winter drill program
completed in early April totalled 32 holes and 9,614 metres, and there are now in excess of 1,400
samples awaiting assays expected to be completed in June 2023.
The drilling program at Stria’s Pontax property is being financed and conducted by Stria’s project
partner, Cygnus Metals Ltd. of Australia, and has been designed to systematically step out from the
known mineralisation at Pontax Central – an extensive spodumene-bearing pegmatite swarm which
outcrops over 700m of strike.
The most significant intersection results from each of the current drill holes include:
• DDH975-22-030: 1.83 m (true width*) @ 0.85% Li2O** from 216.6 m to 219.3m. core length
• DDH975-22-035: No significant results
• DDH975-22-036: 1.44 m (true width*) @ 1.28% Li2O** from 488.35 m to 490.05 m core length
• DDH975-22-037: 1.47 m (true width*) @ 1.24% Li2O** from 180.2 m to 182.2 m core length
• DDH975-22-038: No significant results
• DDH975-22-039: 1.96 m (true width*) @ 1.22% Li2O** from 235.55 m to 238.15 m core length
• DDH975-22-040: 9.27 m (true width*) @ 1 .86% Li 2O** from 367.75 m to 379.55m core
length
*: True thickness, according to the dyke dip and drill hole plunge at the loci of the intersection.
**: Weighted average using a cut-off grade of 0.5% Li2O, excluding lithium bearing wallrock (FeO
> 5%), a minimum true thickness of 1 metre, no external dilution, and wallrock internal dilution
set at 0% Li2O.
***: Interval calculations according to criteria used in previous Stria’ communication, These
calculations are based on different parameters than those used in Cygnus Metals ’ press release,
dated March 20th 2023, leading to minor differences on intervals lengths and grades.
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One hole DDH975-23-030 assayed at 5409 ppm tantalum (0.66% Ta2O5) over 30 centimetres. Coltan,
a tantalum oxide, is a common and highly valuable by-product mineral found in spodumene-bearing
pegmatite dykes. However, e valuating its abundance in pegmatite is difficult due to its extreme
heterogeneous (nuggety) distribution . A total of 10 samples exceeded the cut -off grade of 200 ppm
Ta.
Dean Hanisch, CEO of Stria Lithium, said today: “We are very pleased with these initial results as
they clearly demonst rate the potential for significant mineralization at depth. The results are
consistent with these types of pegmatite dyke swarms in the region, and we look forward to receiving
further assays from the winter program.”
Drilling was conducted by RJLL Drilling Inc. from Rouyn -Noranda using three skid-mounted drill
rigs, and was supervised by IOS Services Geoscientifiques Inc. Collar locations were measured with
a sub-metre precision GPS 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 for sampling and storage. Core samples were cut in half with a diamond saw, tagged and
bagged to be shipped to the SGS Lakefield laboratory by road carrier for preparation. The current
release includes a total of 722 core samples which 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_ICM9 0A50). SGS-Canada is a ISO/IEC 17025 accredited laboratory.
Quality control has been monitored by an IOS-certified chemist through the insersion of 26 sample
blanks, 23 preparation blanks, 18 certified reference material Oreas -147, 17 certified reference
material Oreas-148 and 16 certified reference material Orea-149, for a total of 100 insertions (14%).
Figure 1: Plan view of Pontax Central with the location of all drilling to date,
highlighting recent results with section location.
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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 hard rock 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 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 unprece dented, 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, a nd 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.
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
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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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 freq uently 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 res ults 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. Read ers 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.
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APPENDIX A – Drillholes with Results
Coordinates given in UTM NAD83 (Zone 18)
Hole ID Easting (m) Northing (m) Elevation (m) Azimuth (°) Dip (°) Depth (m)
975-22-030 362740 5754609 249.28 325 -50 240
975-23-035 362726 5754795 249.51 325 -50 159
975-23-036 362742 5755121 225.67 145 -50 510
975-23-037 362742 5754865 234.28 145 -50 300
975-23-038 362359 5754628 237.45 145 -50 210
975-23-039 362422 5754711 237.74 145 -50 261
975-23-040 362690 5755015 227.26 145 -50 486
APPENDIX B – Significant Intercepts
Significant intersections use a cut-off grade of 0.5% Li 2O in pegmatite, no external dilution and internal dilution from
wallrock accounted as 0%. Intercept lengths may not add up due to rounding to the appropriate reporting precision.
Hole ID
From To Interval True Thickness Vertical depth Li2O
(m) (m) (m) (m) (m) (%)
178.40 180.40 2.00 1.31 132.45 0.64
216.60 219.30 2.70 1.83 158.81 0.85
975-23-035 No significant intercept
975-23-036
437.65 439.30 1.65 1.37 306.08 1.47
484.30 486.85 2.55 2.16 335.16 1.01
488.35 490.05 1.70 1.44 337.34 1.28
975-23-037 180.20 182.20 2.00 1.47 140.01 1.24
975-23-038 No significant intercept
975-23-039
206.60 207.95 1.35 1.01 154.63 1.66
214.80 218.05 3.25 2.44 161.23 1.47
226.45 229.10 2.65 1.99 169.39 1.10
235.55 238.15 2.60 1.96 175.90 1.22
975-23-040
367.75 379.55 11.80 9.27 277.83 1.86
383.20 386.10 2.90 2.29 285.33 2.26
390.25 394.10 3.85 3.04 290.44 0.88
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APPENDIX C – Cross-sections
Cross sections D, F, G, H and J, though Pontax Central looking towards the NE, showing the current released drillholes
completed by Cygnus with intervals plus historic or pending drillholes with spodumene dyke location. Interval length
expressed as true dyke thickness.
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