Business
Stria's joint venture partner Cygnus Metals has completed a Maiden Resource of 10.1Mt at 1.04% Li2O stating mineralisation is open in all directions on the Pontax Central property
(TheNewswire) Ottawa, ON – TheNewswire - August 14, 2023 - Stria...
About this update from Stria Lithium Inc.
[{"type":"text","content":"Stria's joint venture partner Cygnus Metals has completed a Maiden Resource of 10.1Mt at 1.04% Li2O stating mineralisation is open in all directions on the Pontax Central property\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Ottawa, ON –\n \n \n TheNewswire -\n \n \n August 14, 2023 -\n \n \n Stria Lithium Inc. (TSXV:SRA) (“Stria\nLithium”, the “Company”)\n \n \n The Pontax Central Project Joint venture (Cygnus Metals 51%/Stria\n49%) now has a maiden resource estimate produced by Cygnus metals.\nThis JORC estimate establishes Pontax Central as a serious player in\nthe Canadian Lithium James Bay region. Cygnus Metals being an ASX\nissuer, they adhered to Australian JORC Code 2012 guidelines, meaning\nthat such mineral resource estimate is not necessarily current in\nregard of the Canadian National Instrument 43-101 code.  Cygnus\npublished a Maiden inferred Resource Estimate (MRE) of 10.1Mt at 1.04%\nLi\n \n \n 2\n \n \n O based on the central area of the known\nmineralisation.\n \n \n \n \n Below are highlights from Cygnus\nMetals press release dated August 14, 2023\n \n \n \n \n \n \n Substantial maiden resource establishes Pontax as a\nsignificant James Bay lithium project with scope for ongoing growth\n \n \n \n \n \n \n Diamond drilling scheduled to resume this quarter and\nwill be focused on resource growth through step out drilling and\ndiscovery drilling across the wider belt\n \n \n \n \n \n \n The mineralisation is reported as open in all\ndirections\n \n \n \n \n \n \n Spodumene mineralisation has been confirmed by surface\nmapping up to 9km from the Pontax Central resource, highlighting the\nhuge upside potential at Pontax\n \n \n \n \n \n \n The Resource has been defined in just 12 months since\nacquisition at an exceptionally low discovery cost of A$0.55 per tonne\nof Resource, based on only 11,328m of drilling\n \n \n \n \n \n \n Cygnus is only the fourth ASX-listed company in the\nQuebec region with a lithium resource after Allkem (ASX:AKE), Sayona\n(ASX:SYA) and Patriot Battery Metals (ASX:PMT)\n \n \n \n \n \n \n First pass metallurgical test work delivered excellent\nrecoveries, generating a 6% spodumene concentrate using conventional\nprocessing techniques\n \n \n \n \...