OTTAWA, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Stria Lithium Inc. (SRA.V) (SRCAF) ("Stria" or the "Company") is pleased to report it has commenced infill drilling of its spodumene pegmatite occurrence at its wholly owned Pontax Lithium Property (the “Project”) located in west central Eeyou Istchee James Bay territory, Northern Québec.
The eight-hole, 1,000 m drill program, with a $315,000 budget, is intended to complete the testing of the continuity of the spodumene-bearing pegmatite swarm at depth and along strike at a 50 to 100 m spacing. The 2017 drilling program builds on the results of an earlier drill and channel sampling program carried out by the previous owners of the Project in 2012. Historic holes (total:864 m) intersected a swarm of lithium bearing pegmatite dykes of an aggregated thickness of approximately 20 metres, with the best intersection found in hole 09-555-05 (0.97% Li2O over 21.0 m (from 36.0 m to 57.0 m), including 1.43% Li2O over 13.0 m (from 36.0 m to 49.0 m)1. Spodumene mineralization as currently known extends over a minimum strike length of 500 m and is open along strike and at depth.
1 Source: Girard, R., 2011: Technical report on the Pontax Lithium Property: A lithium exploration project near the lower Eastmain River area, Northern Québec; available at www.sedar.com under Khalkos Exploration Inc.).
The style of mineralization encountered within the Pontax occurrence is very similar to other swarm-type spodumene pegmatite occurrences located within the “Central Eeyou Istchee James Bay lithium pegmatite trend” - a 100 km long lithium pegmatite-bearing corridor that extends near the contact zone between the Némiscau and LaGrande sub-provinces, from Nemaska Lithium Inc.’s Wabouchi lithium deposit in the southeast, to Galaxy Resources Ltd.’s James Bay Lithium deposit in the northeast and including Critical Element Corp.’s Rose Lithium-Tantalum deposit , as well as being similar to SOQUEM’ Inc.’s Moblan lithium deposit further south.
Drilling at the Pontax Lithium Project commenced on December 6th, 2017 with a planned completion date of December 16th. Seven of the eight proposed drill holes have been completed to date, and pending the completion of the eighth and final drill hole by December 16, Stria will have met its flow-through expenditure obligations in advance of the December 31st deadline.
The exploration program at the Pontax Lithium Project is designed and operated by IOS Services Géoscientifiques of Chicoutimi, Québec, under the supervision of the Table Jamésienne de Concertation Minière (TJCM) of Chibougamau, Québec. The core drilling contractor is Chibougamau Diamond Drilling Ltd. of Chibougamau, Québec.
Sample preparation will be provided by IOS, while assaying will be provided by ALS Minerals of Val-d’Or Québec. Quality control, monitored by an IOS chemist, will consist of 15% reference materials, including blank, duplicates and certified reference material.
In May, 2016, the Company reported that metallurgical testing of a 16.5 t bulk spodumene pegmatite sample extracted from the Pontax spodumene-bearing occurrence achieved an initial assay result of 6.3% Li2O from spodumene concentrate with an 85% overall lithium recovery (refer to Stria news release dated May 24, 2016 available at http://strialithium.com/ or at www.sedar.com under Stria Lithium Inc.)
Qualified Persons
Mr. Réjean Girard, P.Geo., President of IOS Services Géoscientifiques Inc. and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects - has reviewed and approved the technical content of this news release.
Mr. Marc-André Bernier, M.Sc, P.Geo. (Québec and Ontario), a Director of the Company and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the non-technical content of this news release.
About Stria Lithium Inc.
Stria Lithium Inc. is a Canadian junior mining exploration company with an expanding technology focus and the sole owner of the Pontax Lithium Property in Northern Québec. Stria's mission is to become a reliable, profitable global source for both lithium metal and lithium compound products and process technologies for producing value added lithium products.
Stria's expanded business focus is on the application of in-house developed technologies and processes that lead to the production and milling of lithium metal and lithium metal foil for advanced lithium batteries.
From the production of lithium metal also comes the value-added production of: lithium hydroxide; lithium carbonate; lithium fluoride, and; lithium chloride. 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.
Towards its commercial goals, Stria has positioned itself as a partner in the 2GL Platform business alliance announced on May 18, 2016. 2GL Platform is a green energy technology strategic alliance with Grafoid Inc., Focus Graphite Inc., and Braille Battery Inc.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Neither the 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 of this release.
Contact:
Stria Lithium Inc.
Gary Economo, CEO
613 241-4040
geconomo@strialithium.com
www.strialithium.com