Stria Lithium Inc. Announces Appointment of New Director
 | |||||||||
 |  |  |  | ||||||
Ottawa, ON - TheNewswire - December 12, 2023 - Stria Lithium Inc. (TSX-V:SRA) (“Stria” or the “Company”) is pleased to announce the appointment of Larry Segerstrom as a new Director of the Company.
Mr. Segerstrom is a bilingual senior mining professional with more than 37 years of exploration, operations, and business experience.
His past management positions include COO of Paramount Gold and Silver Corp in Mexico, and Manager of Geology of the Grasberg Mining District for Freeport-McMoRan in Indonesia.
Mr. Segerstrom has been involved in several discoveries, including leading the teams that discovered and developed new resources of more than 750,000 ounces of gold and 60 million ounces of silver with Paramount Gold & Silver (PZG), and new ore reserves totalling 3.4 billion pounds of copper and 3.6 million ounces of gold with Freeport.
Larry Segerstrom stated: “I have been watching the ecosystem being developed between federal, provincial and battery technology companies in Quebec and the energy independence it will bring to North America for our future. I look forward to working in Quebec as it is one of world’s most mining friendly jurisdictions. I have worked with management in the past in a successful venture and therefore look forward to assisting them in executing their strategy of unearthing early-stage lithium projects and partnering with skilled exploration and operational companies”.
He holds a M.Sc. in Economic Geology from the University of Arizona, a M.B.A. in Global Management, and is a Qualified Person under Canadian National Instrument 43-101.
Jeff York, Chairman of Stria Lithium said today: “Stria continues to expand and grow its portfolio of Lithium projects within Quebec as part of its overall strategy. We hope to replicate the model achieved at Pontax Central and to this end we needed to increase our geological expertise at a senior level. Mr. Segerstrom has had decades of experience reviewing and exploring projects and will be instrumental in us assessing properties going forward. Mr. Segerstrom will be a valued board member that will assist our culture of good governance and operational excellence in addition to his unique skills in discovering and developing resources”.
Mr. Segerstrom will be replacing Mr. Harry Martyniuk who has stepped down from the board to continue with his many successful business operations. Mr. Martyniuk’s resignation is effective as of December 12, 2023. “On behalf of the board and the whole team at Stria Lithium, I would like to thank Mr Martyniuk for his service and contributions over the past 3 years and wish him continued success in his business ventures”, said Jeff York, Chairman of the board of directors of Stria Lithium.
Stria Lithium (TSX-V: SRA) is an emerging resource exploration company developing Canadian lithium reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries.
Stria’s Central Pontax Lithium Project covers 36 square kilometres, including 8 kilometres 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 Central Project Joint Venture with Cygnus Metals now has a maiden JORC inferred resource Estimate (MRE) of 10.1Mt at 1.04% Li2O based on the central area of the known mineralisation.
This JORC estimate establishes Pontax Central as a serious player in the Canadian Lithium James Bay region. Cygnus Metals being an ASX issuer, they adhered to Australian JORC Code 2012 guidelines, meaning that such mineral resource estimate is not necessarily current in regard of the Canadian National Instrument 43-101 code.
Cygnus Metals is committed to fully funding and managing the current two-stage exploration and drilling program to a maximum of $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. Cygnus has fulfilled its stage 1 requirements within the agreement and has now earned its 51% interest in the property.
Stria’s other significant project, Pontax II covers 55 square kilometres, approximately 25 kilometres to the west-south-west of Pontax Central and is located adjacent to the Billy-Diamond paved highway. Stria has added to this project by recently acquiring 24 claims, for 1276.5 hectares that are strategically located northeast of Stria’s Pontax II claims.
Stria Lithium previously reported highly anomalous tantalum oxide grain counts in till samples up to 797 grains, the highest count ever recorded by the laboratory. The Pontax II grain counts stand at the 97.6 centile of the regional population with an average of 156 grains per sample as a comparative basis, a regional survey in the same area conducted by the Ministère de l’Énergie et des Ressources Naturelles du Québec, processed a total of 5950 tantalum oxide grains yielding an average count of 36 grains per samples. The conclusion being the grain counts are suggestive of the proximity of lithium bearing pegmatites.
Pontax II claims are in highly active prospective zones, situated to the west southwest of Stria/Cygnus lithium discovery and situated to the west of the Patriot Battery Metals (PMET.V) Pontax project, and south of Brunswick Exploration (BRW.V).
Stria’s Pontax properties are both situated close to an industrial powerline and a major paved highway, about 310 km north of the North American rail network that leads to the industrial heartland.
As momentum builds for the green energy revolution and the shift to electric vehicles, governments in Canada and the U.S. are aggressively supporting the North American lithium industry, presenting the industry and its investors with a rare, if not unprecedented, opportunity for growth and prosperity well into the next decade and beyond.
Stria is committed to exceeding the industry’s environmental, social and governance standards. A critical part of that commitment is forging meaningful, enduring and mutually beneficial relationships with the James Bay Cree Nation (Eeyouch), and engaging openly and respectfully as neighbours and collaborators in this exciting project that has the potential to create lasting jobs and prosperity for Eeyou Istchee and its people.
Reference:
-
JORC Mineral Resource Estimate of Pontax Project, James Bay Quebec, Brian Wolfe; Duncan Grieve, August 14, 2023.
For more information about Stria Lithium and the Pontax Lithium project, please visit https://strialithium.com
Follow us on:
-
Twitter@StriaLithium
-
Instagram@strialithium
For more information on Stria Lithium Inc., please contact:
Dean Hanisch
CEO Stria Lithium
+1(613) 612-6060
Investors Relations, Stria Lithium Inc.
Neither 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 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 anticipated in the forward-looking information. Please refer to the risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.