Stria Lithium drills 1.34% Li2O over 8.54 metres at Pontax project, Quebec

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Stria Lithium Inc. [SRA-TSXV] reported promising assay results from the first two drill holes at depth on the Pontax lithium project in the James Bay region of Quebec, Canada.

Assays include 10.2 metres (true width) at 1.34% Li2O (lithium oxide), and a doubling of the depth of known mineralization to 230 metres. These results further confirm previous exploration activities on the site and are only the first results of 14 holes drilled to date, totalling 3,858 metres, as part of an aggressive 15,000-metre definition and exploration drilling program now under way on Stria’s Pontax property in the west-central Eeyou Istchee James Bay (EIJB) territory.

A winter road has been opened from the main highway to the Pontax site, and multiple drill rigs are now on site with the aim of establishing a maiden resource by mid-2023. Assays from the remaining 12 holes are currently pending at the laboratories.

The drilling program at Stria’s Pontax property is being financed and conducted by Stria’s project partner, Cygnus Gold Ltd. [CY5-ASX] of Australia, and has been designed to systematically step out from known mineralization at Pontax Central – an extensive spodumene-bearing pegmatite swarm which outcrops over 700 metres of strike.

Significant intersection results from the latest drilling include drill hole DDH975-22-027 that returned 2.82 metres (4.3 m of core length) at 1.84% Li2O at a depth of 158 metres (from 227.6 m to 231.9 m); 6.04 metres (9.21 m core length) at 1.44% Li2O at a depth of 172 metres (from 247.1 m to 256.3 m).

Five minor intervals of true width between 1.51 metres and 2.02 metres at 0.84% to 1.46% Li2O. Cumulative true thickness of mineralized dike of 21.4 metres;

DDH975-22-028 returned 3.44 metres (5.7 m of core length) at 1.35% Li2O at a depth of 144 metres (from 194.3 m to 200 m); 8.54 metres (13.3 m of core length) at 1.34% Li2O at a depth of 212 metres (from 300.2 m to 313.5 m).

Three minor intervals of true width between 1.08 metres and 1.55 metres at 0.67% to 0.82% Li2O. Cumulative true thickness of mineralized dike of 17.9 metres.

True thickness, assuming the dikes are dipping -85 degrees to the north-northwest

Weighted average using a cut-off grade of 0.5% Li2O on spudumene dike only, excluding lithium-bearing wallrock (iron oxide over 5%), a minimum true thickness of one metre, no external dilution and wallrock internal dilution set at 0% Li2O.

Drilling was conducted with a single heli-portable rig by RJLL Drilling Co. from Rouyn-Noranda and supervised by IOS Services Geoscientifiques Inc.

Dean Hanisch, CEO, said: “We are excited to be finally getting an aggressive drilling program at depth under way, and are very encouraged by the promising results of the first two holes of 14 drilled to date. The winter road is open and providing economical access to several additional heavy drill rigs. We look forward to reporting more assay results as they become available.”

The latest drilling has stepped out 50 metres to 100 metres below existing mineralization to a vertical depth of 230 metres, effectively doubling the depth of known mineralization which remains open in all directions.

Stria’s Pontax lithium project covers 36 km2, 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 property is situated close to an industrial power line and a major paved highway, about 310 km north of the North American rail network leading to industrial heartland.

Cygnus Gold is committed to fully financing and managing the current two-stage exploration and drilling program up to $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.

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