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Below are highlights from Cygnus Metals press release dated
Substantial maiden resource establishes Pontax as a significant
James Bay lithium project with scope for ongoing growthDiamond drilling scheduled to resume this quarter and will be focused on resource growth through step out drilling and discovery drilling across the wider belt
The mineralisation is reported as open in all directions
Spodumene mineralisation has been confirmed by surface mapping up to 9km from the Pontax Central resource, highlighting the huge upside potential at Pontax
The Resource has been defined in just 12 months since acquisition at an exceptionally low discovery cost of
A$0.55 per tonne of Resource, based on only 11,328m of drillingCygnus is only the fourth ASX-listed company in the
Quebec region with a lithium resource after Allkem (ASX:AKE), Sayona (ASX:SYA) and Patriot Battery Metals (ASX:PMT)First pass metallurgical test work delivered excellent recoveries, generating a 6% spodumene concentrate using conventional processing techniques
Pontax Central is located in central
James Bay close to a major paved road andHydro Quebec power infrastructure and only 30km south of Allkem’s James Bay Deposit (40.3Mt @ 1.40% LiO),which is progressing towards development.
CYGNUS/ STRIA
Joint venture
Pontax Central
10.1Mt@1.04%Li2O
Click Image To View Full Size
Figure 1:Pontax is located in central
“We are extremely impressed with the speed and efficiency in which Cygnus Metals established this JORC maiden resource estimate. With only 11328 metres of drilling and a cost of
Please see link to Cygnus Metals’ full press release dated
https://www.cygnusmetals.com/investors
About
Lithium is a rare metal and an indispensable component of rechargeable lithium-ion batteries, one of the safest and most efficient energy storage technologies available today, used in everything from cell phones and power tools to electric cars and industrial-scale energy storage for renewable power sources such aswind and solar generation.
Stria’s CentralPontax
Stria has entered into a JV agreement with Cygnus Metals (ASX:CY5) on its Pontax Central project. Cygnus Metals is committed to fully funding and managing the current two-stage exploration and drilling program to a maximum of
Stria’s other significant project,Pontax II is due southeast to Pontax Central. These 128 individual claims totalling 6811 hectares (68 square kilometres) are on strike with stria’s existing Pontax Central project along the prospective
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
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 engagingopenly 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.
For more information about
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dhanisch@strialithium.com
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Investors Relations,
ir@strialithium.com
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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.
Competent Persons Statements -
The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr
The information in this announcement that relates to Mineral Resources at the
End Note
1. For the information in this announcement that relates to Mineral Resources, refer to the following:
2. Please refer to Cygnus Metal’s ASX announcement dated
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