Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “Company”) is pleased to announce that it has successfully optioned 12 titles totalling 683 hectares in the lithium rich Abitibi region. Stria’s successful 100% optioning of the property is an exciting opportunity to follow up on a recently discovered spodumene-bearing pegmatite, considered a genuine lithium-cesium-tantalum-bearing (“LCT”) pegmatite, exposed in the center of the property, which returned 0.54% Li2O (2500 ppm Li) from a grab sample.
Project Jeremiah titles are strategically located at the periphery of the Archean-aged La Motte Batholith, straddling its northern contact with the Deguisier mafic volcanic formation and the sediments of the Caste Formation. The La Corne Batholith, believed to be similar in age to the La Motte Batholith, is considered to be the source of the lithium pegmatite currently mined by Sayona Mining at their North American Lithium Complex Mine, 22 km east of Jeremiah, as well as their Authier project, 11 km to the southwest. All the numerous lithium occurrences in this area are located at the fringe of this intrusive, where the last differentiated magmas, such as lithium pegmatite, are injected.
The property acquisition is made up of 12 titles of which 3 titles are between 5-8 km west of the main claims. In total the titles make up for 683 hectares that are conveniently located near the village of St-Mathieu d’Harricana, and easily accessible through private forestry roads. Fortunately, all the title holders surface rights are controlled by private landholders and the local Abitibi Regional County Municipality. Stria is planning to excavate the occurrence and to do channel sampling to evaluate the potential as early as this March once agreements with landowner are completed and permits are granted.
Dean Hanisch, CEO of Stria Lithium, said: “We are very pleased to have the opportunity of acquiring this property which is strategically located in a prolific area near the first and only lithium producing mine in Québec. The area is mining-friendly and conveniently located in regard to access and infrastructure. Stria intends to aggressively pursue its evaluation in the near term.”
“After rising quickly and exponentially, the world market price of lithium has pulled back as it looks to find its long-term value. Current market conditions present us with a good opportunity to evaluate and acquire compelling projects at reasonable terms in North America. The governments of Canada and the USA have spent billions of dollars attracting the biggest car and battery players in the world to set up here on order to gain autonomy and reduce their dependence on foreign owned supply. These companies receive highly attractive subsidies for using “local” critical minerals like lithium, so naturally there will be great demand and thus a decoupling of lithium prices geographically. I think this will become abundantly clear to both investors and the public so we will push forward as the key is always to buy low and maximize value at higher prices.”
