Stria Completes Initial 2,000-Metre Drilling Program at its Pontax-Lithium Project, Quebec
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T
SX: SRA.V
Stria Completes Initial 2,000-Metre Drilling Program at its
Pontax-Lithium Project, Quebec
Stria Lithium, Inc. (TSX.V:SRA)
OTTAWA, ONTARIO – December 21, 2022 - Stria Lithium Inc. (TSXV: SR A) (“Stria” or the
“Company”) is pleased to announce the completion of its fall 2022, 2,028 -metre helicopter-supported
core drilling program at its flagship Pontax lithium spodumene pegmatite dyke (LSPD) prospect
located on the Company’s Pontax Lithium proper ty, in west -central Eeyou Istchee Baie -James
Territory of northern Québec. The drilling program was designed to test the continuity at depth of the
spodumene mineralization over the entire known strike length of the central spodumene -bearing
pegmatite dyke swarm zone at the Pontax LSPD prospect.
The fall core drilling program at the Pontax LSPD prospect was designed and operated by partner Cygnus
Gold Limited (ASX: CY5) (“Cygnus”) and comprised of seven (7) inclined NQ -diameter holes for a total of
2,028 metres drilled (holes 975 -22-026 to 975 -22-032). Analytical results for the first set o f drill core
samples expedited to SGS Canada Inc. Laboratories in Lakefield, Ontario, are expected early in the first
quarter of 2023. IOS Services Géoscientifiques Inc. (IOS) of Saguenay, Québec, provided technical and
logistical support for the drilling program while core drilling was performed by Forage RJLL of Rouyn -
Noranda, Québec.
In July, 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 $6.0 million and
exploration expenditure commitments totalling $10.0 million. Cygnus has been exploring the property under
the terms of th e first of the two -stage option, by which Cygnus is required to incur exploration expenditures
on the Property in the amount of $4.0 million over a period of 18 months.
“Our partner Cygnus has held true to its strategy of advancing the Pontax Lithium proj ect through aggressive
drilling regardless of the time of year. They have made it clear they will drill year -round and have secured
the funds to do it through their recent $8 million financing , which puts them at $15 million in available
funds,” said Dean Hanisch, Chief Executive Officer of Stria. “With the 2,000 -metre fall drilling program
now complete, the team at Cygnus will take a break for the holidays and will resume helicopter -borne
drilling in the New Year”. Cygnus is currently organizing a winter road to the project to bring in a minimum
of three (3) land drill rigs and related equipment and supplies to carry out its planned 10,000 -metre plus
drilling program.
291687.00024/118166830.5
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The exploration team at Pontax has been supported by Relais Routier 381 , a rest stop located on the Billy
Diamond (James Bay) Highway at KM 381, that provided accommodations and meals for the team while in
the field. The facility is owned and operated by the Société de Développement de la Baie -James (SDBJ),
which provides a vital source of gas, food and lodging in this remote area of northern Québec.
“We are grateful to have the Relais Routier 381 as our home base for the Cygnus/Stria Pontax drilling team
since it is close to our Project and saves us from having to make expens ive and time-consuming alternatives
in order to complete our work initiatives. We are thankful for the support that the Forage RJLL drillers have
received from the operations staff at the facility,” Mr. Hanisch continued. “The Canadian and Quebec
governments showed great foresight in investing in the Relais Routier 381 initiative, and it’s another
example of how Canada, and Quebec in particular, are very favourable jurisdictions to explore and develop
critical minerals projects.”
“We strongly believe that Pontax is a standout opportunity to rapidly define a hard rock lithium resource in a
Tier-1 jurisdiction with world -class infrastructure and several large hard rock lithium deposits. It’s going to
be an exciting six months as exploration begins to ramp up with 10,000 metres of drilling just beginning and
results beginning to filter through”, said Cygnus Executive Director Michael Naylor in Cygnus’
announcement dated November 29, 2022
Figure 1: Helicopter-supported drilling at the
Pontax Lithium Project, Fall 2022
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About Stria Lithium
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
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
Kimberly Darlington
Communications, Stria Lithium Inc.
514-771-3398
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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
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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.