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Stria Lithium Inc. (OTCQX:SRCAF) has provided an update on its recent activities, focusing on the positive results from its Q1-2020 drilling at the Pontax Lithium Property in Northern Québec. Notably, the drilling confirmed that the spodumene dyke swarm is open at depth, with significant mineralization observed in 10 of the 11 drill holes. Highlights include 11.27 m grading 0.91% Li2O and plans for further exploration. Additionally, Stria executed a debt settlement by issuing 14.53 million shares at $0.05 each, increasing a director's stake in the company to 17.59%.
Stria Lithium Inc. (TSXV:SRA)(OTCQX:SRCAF) reports results from the final five drill holes of its Q1-2020 drilling program at the Pontax Lithium Property in Northern Québec. Four of the five holes intersected spodumene-bearing pegmatite dykes, with the best intersection grading 1.28% Li2O over 3.89 m in hole 975-19-022. The spodumene dyke swarm extends over 600 m in strike length and 100 m in depth, remaining open to the northeast. Additionally, the company announced a debt settlement converting $726,500 in debt into 14,530,000 common shares at $0.05 per share, affecting ownership control.
Stria Lithium Inc. (TSXV:SRA) announced the termination of its Change of Business Transaction as of December 8, 2021. The company received a $750,000 unsecured loan from JJJY Holdings, which is payable on March 26, 2022, and included a lender fee of $125,000. Additionally, the company entered an investor relations agreement costing $3,500 monthly. Stria Lithium holds a 100% interest in the Pontax spodumene lithium project in Northern Québec, critical for lithium-ion batteries used in electric vehicles.
Stria Lithium Inc. has terminated its letter of intent with Grafoid Inc. regarding a Change of Business transaction to license Grafoid's water purification assets. The decision follows an inability to complete due diligence due to external factors and Grafoid's incomplete financial audits. Stria's management believes this termination is in the best interest of shareholders, especially after positive drill results from the Pontax Project. Stria plans to resume trading under its symbol SRA after a prior halt.
Stria Lithium Inc. has announced promising results from its Q1 2020 drilling program at the Pontax Lithium Property. The initial six drill holes confirmed the spodumene pegmatite extends over 600 m, with significant lithium intersections including 11.27 m grading 0.91% Li2O at a depth of 56.28 m. The program involved 1,510.5 m of drilling across eleven holes, with 29% of the core sampled showing lithium-bearing pegmatite. Further analysis from additional holes is pending. The exploration efforts build on previous drilling success and historical data, indicating a strong potential for lithium resources.
Stria Lithium Inc. (TSXV:SRA) has announced updates regarding its Stock Option Plan following shareholder approval on May 21, 2021. The New Plan introduces a fixed incentive stock option plan allowing for the granting of options for 14,716,073 shares to eligible individuals, including directors and employees. Options may be exercised at a minimum price of $0.05, subject to TSXV approval. Stria, engaged in lithium exploration, holds a 100% interest in the Pontax spodumene lithium project, essential for electric vehicle batteries.