Stria Lithium Announces Funding Commitment from the Government of Canada
November 12, 2014 (Source: Marketwired) — Innovation Funding Commitment to assist in the Company’s Development of Novel, Environmentally Sustainable Lithium Processing Technologies
Stria Lithium Inc. (TSX VENTURE:SRA) (“Stria” or the “Company”) is pleased to announce that it has received a funding commitment of up to $137,700 from the Government of Canada through the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) in support of the Company’s continuing development of novel lithium processing technologies aimed at producing low-cost, very high purity lithium products.
Stria Lithium is advancing development of proprietary spodumene mineralization to lithium concentrate processing technologies capable of producing a low cost high-grade Li-metal, Li-carbonate and Li-hydroxide products.
On October 17, 2014, the Company announced it had completed a dense media separation study (“DMS”) with SGS Canada Ltd., demonstrating the mineralogical quality and viability for purification of spodumene mineralization from its 100% owned Pontax Lithium Project, Northern Quebec.
The mineralization will be used to feed Stria’s pilot plant located in Kingston, Ontario, scheduled for startup in early 2015.
Stria President and Chief Operating Officer Julien Davy said: “The federal government’s commitment of financial support bodes well for us in meeting our planned future production milestones, beginning with our pilot plant in Kingston. We are extremely grateful for NRC-IRAP’s business and technical advisory services, along with financial support, at this time in our process development.”
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“Battery manufacturers are looking to the resource sector to find innovative solutions to lower production costs.
“Our decision to build our business on the development of new, proprietary processing technologies has attracted industry attention,” Mr. Davy added. “We believe our technologies hold the prospect of resolving not only cost and purity issues, but also, an industry imperative to do so on an environmentally sustainable basis.”
Stria’s aim is to license its potential technologies to electric vehicle and large-scale industrial energy storage battery manufacturers.
“Being able to ‘walk the talk,’ environmentally speaking,” Mr. Davy said, “is critical to our future success in the lithium industry.”
About Stria Lithium Inc.
Stria Lithium (TSX VENTURE:SRA) is a Mining Technology company that owns the Pontax spodumene lithium property in Northern Quebec and the Willcox brine lithium property in southeastern Arizona. As announced in January 2014, Stria is developing proprietary, in-house processing technologies for both projects with the purpose of reducing processing costs on an environmentally sustainable basis.
Stria’s technologies, based on recovering lithium metal directly from mineralization and from brine liquids, will be more efficient, will require fewer controls, less chemistry and require less energy from compact facilities designed to enable easy automation.
Forward Looking Statement – Disclaimer
This news release may contain forward-looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>