Stria Lithium (TSXV:SRA) announced that the helicopter-supported core drilling program has resumed after Christmas holidays at its flagship Pontax Lithium property, in west-central Eeyou Istchee Baie-James Territory of northern Québec. The drilling program aims to complete another 3 holes as it waits for the completion of a winter road to mobilize three land-based drill rigs to the site. This road is vital for carrying out proposed 12,000 plus metres winter program designed to delineate a resource as well as test the extensions of the Central Pontax zone, to be completed by early April 2023.
The winter core drilling program at the Pontax LSPD prospect was designed and will be overseen by partner Cygnus Gold Limited (ASX: CY5).
In July 2022, Stria announced a partnership with Cygnus Gold (ASX: CY5) 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 under a two-stage option for total cash payments of $6 million and exploration expenditure commitments totalling $10 million.
Cygnus has been exploring the property under the terms of the first of the two-stage option, by which Cygnus is required to incur exploration expenditures on the Property in the amount of $4 million over a period of 18 months.
Stria Lithium is a market awareness client of Capital 10X.
