Stria Lithium reports best result to date from winter drilling at Pontax Property

Stria Lithium Inc. (TSX.V: SRA) announced 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 holes.

The winter drill program completed in early April totaled 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 current drill holes include:

• DDH975-22-030: 1.83 m (true width*) @ 0.85% Li2O** from 216.6 m to 219.3m. core length

• DDH975-22-036: 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

• DDH975-22-039: 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% Li2O** 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 dilutionset 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.

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, evaluating 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:

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_ICM90A50). 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%).

Stria Lithium is a market awareness client of Capital 10X.