Canada NewsWire
SUDBURY, ON
,
Aug. 17, 2022
/CNW/ – Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) (“Frontier” or “the Company”) is pleased to announce the results for four additional drill holes completed during the Phase XII drill program on the Spark pegmatite which began in
May 2022
and is currently in progress. The initial drill holes were designed to convert inferred material to the indicated category for the planned open pit. The Spark pegmatite is one of the two delineated premium spodumene-bearing lithium deposits on the PAK Lithium Project.
Highlights
-
Phase XII delineation and infill drilling with two drill rigs is currently being conducted, whereby, the Company has completed
8,000m
of drilling in 24 holes at the time of this press release. Currently, analysis from 8 of the holes have been received; 4 of which were reported in the
July 25
th
press release
and the remaining 4 are reported herein. -
DDH PL-059-22 intersected
145m
of pegmatite over a
316m
interval from surface with an average grade of 1.5% Li
2
O along with some minor mafic volcanic sheets (<
6m
apparent width). -
DDH PL-060-22 intersected
357.5m
of spodumene-bearing pegmatite averaging 1.63% Li2O throughout the entire hole representing a horizontal distance of
110m
. -
An enriched
28 m
tantalum-rubidium-tin zone was intersected from 84 to
112m
grading 370 ppm Ta
2
O
5
, 0.62% Rb
2
O and 328 ppm SnO
2
. -
Hole was terminated in spodumene-bearing pegmatite at
360m
(vertical depth of
345m
). -
DDH PL-061-22 was collared in pegmatite intersecting
280.7m
averaging 1.42% Li
2
O. - Hole was terminated in mafic volcanics prior to intersecting the southernmost identified zone of the pegmatite and will be extended.
-
DDH PL-068-22 intersected spodumene pegmatite zones typically 20 to
50 m
thick with grades ranging from 1.42% to 2% Li
2
O; -
Includes
12m
zone from 28 to
40m
averaging 3% Li
2
O. -
Also includes elevated Ta (213 ppm Ta
2
O
5
) from 59.3 to
66.3m
.
“So far there have been no surprises with the drill intersections.” states
Garth Drever
, V.P. Exploration. “Our modeling beneath the central indicated resource appears solid and drilling to the west continues to intersect significant pegmatite zones.”
The initial objective for the Phase XII drill program was to focus on converting the inferred resource within the central portion of the Spark deposit at depth. DDH’s PL-059-22 and 060-22 were terminated in pegmatite and PL-061-22 was ended in mafic volcanics due to PFS time constraints requiring quick turn-around of analysis. These and other holes will be extended later in the program.
Figure 1 is a location map showing the project area including Frontier’s land tenure and location of the three lithium-cesium-tantalum pegmatites.
Figure 2 is a plan view showing all drilling completed to date with emphasis on drill hole traces reported in this release.
Table 1 details the drill holes with mineralized intersections while Table 2 summarizes all the Phase XII drill holes completed up to PL-068-22.
Table 1: Details of Mineralized Intersections
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Table 2: Summary of Phase XII Drill Program (May to
July 4, 2022
)
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Due Diligence
All scientific and technical information in this release has been reviewed and approved by Garth Drever, P.Geo., the qualified person (QP) under the definitions established by National Instrument 43-101. Under Frontier’s QA/QC procedures, all drilling was completed by Chenier Drilling Ltd. of
Val Caron, ON
using thin walled BTW drill rods (4.2 cm core diameter) and a Reflex ACT III oriented core system. Using the Reflex system, the drill core was oriented and marked as it was retrieved at the drill. The core was boxed and delivered to the Frontier core shack where it was examined, geologically logged, and marked for sampling. The core was photographed prior to sampling. Using a rock saw, the marked sample intervals were halved with one-half bagged for analysis. Sample blanks along with lithium, rubidium and cesium certified reference material was routinely inserted into the sample stream in accordance with industry recommended practices. Field duplicate samples were also taken in accordance with industry recommended practices. The samples were placed in poly sample bags and transported to
Red Lake
by float plane and then shipped to AGAT Laboratories Ltd. (AGAT) in
Thunder Bay
for sample preparation and to
Mississauga, Ontario
for processing and quantitative multi-element analysis. AGAT is an ISO accredited laboratory. The core is stored on site at the Pakeagama Lake exploration camp.
About Frontier Lithium
Frontier Lithium is a preproduction business that is targeting to become a manufacturer of battery-quality lithium materials to support electric vehicle and battery supply chains in
North America
. Frontier is developing the PAK Lithium Project which contains one of
North America’s
highest-grade, large-tonnage hard-rock lithium resources in the form of a rare low-iron spodumene. The project continues to have significant exploration upside with potential to increase the lithium resource. The Company is a pure-play lithium development opportunity with the largest land position in a premium lithium mineral district located in
Northern Ontario
.
About PAK Lithium Project
The PAK Lithium Project contains
North America’s
highest grade lithium resource that is top three in size on the continent and is considered premium quality globally as a result of its rare low-iron spodumene. A 2021 preliminary economic assessment (National Instrument 43-101 technical report titled “Pak Property” by BBA E&C Inc., issued on
April 5, 2021
) delivered a fully integrated lithium operation from the resource to achieve downstream conversion plan for production of battery-quality lithium salts. The study resulted in an after-tax net present value (discounted at 8 per cent) of
$974-million
(U.S.) with a 21-per-cent internal rate of return. The Project encompasses close to 27,000 hectares at the south end of
Ontario’s
Electric Avenue, the largest land package hosting premium lithium-bearing pegmatites in
Ontario
. The Project maintains a measured and indicated resource of 21.64 million tonnes (Mt) averaging 1.56 per cent lithium oxide (Li2O) and inferred resource of 20.87 Mt averaging 1.42 per cent Li2O. The Project covers 65 kilometres of the Electric Avenue’s length and remains largely unexplored; however, since 2013, the company has delineated two premium spodumene-bearing lithium deposits (PAK and Spark), located 2.3 kilometres apart. Considerable exploration upside is supported on the Project through two other spodumene-bearing discoveries: the Bolt pegmatite (located between the PAK and Spark deposits), as well as the Pennock pegmatite (25 kilometres northwest of PAK Deposit within the project claims).
Forward-looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings available at
sedar.com
.
SOURCE Frontier Lithium Inc.
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Featured image: DepositPhotos © Njnightsky
