SUDBURY,
ON, Feb. 28, 2023 /CNW/ - Frontier Lithium
Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) (the "Company" or
"Frontier") is pleased to report an updated mineral
resource estimate (MRE) for the Spark deposit, the second
delineated premium spodumene-bearing lithium deposit at the PAK
Lithium Project "Project". The resource estimation has been
prepared by BBA E&C Inc. Table 1 is a summary of the mineral
resource estimate.
Highlights
Resource estimate update for Spark deposit includes:
- 18.8 million tonnes averaging 1.52% Li2O in the
Indicated category, a 30% increase in size;
- 29.7 million tonnes averaging 1.34% Li2O in the
Inferred category, a 64% increase in size;
- The Spark lithium deposit remains open along strike and at
depth.
"We are very pleased to announce a substantive increase of the
size of the Spark deposit following over 16,000m of drilling and channeling completed in
2022. Particularly encouraging is the increased lithium grade
from 1.40 to 1.52% Li2O of the indicated category of the Mineral
Resource Estimate. Overall, this equates to a 27% increase in the
size of the combined lithium pegmatites at the PAK Lithium Project.
The grade increase together with the previously released results
further support the ensuing PFS.", commented Garth Drever, Vice President Exploration of
Frontier Lithium.
Table 1: Summary of Mineral Resource Estimate for Spark
Pegmatite
Cut-Off
(%)
|
Resource
Category
|
Tonnes
(t)
|
Li2O
(%)
|
Nb2O5
(ppm)
|
Cs2O
(%)
|
Ta2O5
(ppm
|
Rb2O
(%)
|
SnO2
(ppm)
|
Lithology
|
0.65
Li2O
|
Indicated
|
18,828,000
|
1.52
|
84
|
0.02
|
112
|
0.26
|
61
|
Aplite/Pegmatite
|
Inferred
|
29,746,000
|
1.34
|
77
|
0.03
|
116
|
0.26
|
74
|
Aplite/Pegmatite
|
Mineral Resource Estimate Notes
- Mineral Resources were prepared in accordance with NI 43-101
and the CIM Definition Standards (2014). Mineral resources that are
not mineral reserves do not have demonstrated economic viability.
This estimate of mineral resources may be materially affected by
environmental, permitting, legal, title, taxation, sociopolitical,
marketing, or other relevant issues.
- Open pit Mineral Resources are reported at a cut-off grade of
0.65 % Li2O that is based on a 6.0% spodumene concentrate prices of
US$1,500/tonne and an exchange rate
of 1.29.
- Appropriate mining costs, processing costs, metal recoveries,
and inter ramp pit slope angles were used by BBA to generate the
pit shell.
- Rounding may result in apparent summation differences between
tonnes, grade, and contained metal content.
- Tonnage and grade measurements are in metric units.
- A bulk density factor of 2.74 was applied to the pegmatite and
2.70 was applied to the aplite.
Modeling was performed using Datamine Studio RM software with
grades estimated using ordinary kriging (OK) interpolation
methodology. Samples were composited at 2.0 metres down hole.
Assessment of composites indicated no capping was required on the
Li2O grades. Block grades were estimated on a multi pass
basis with a minimum and maximum number of composites and maximum
number of composites per drillhole required for each estimation
pass. Block size is 5 metres by 5 metres (y) by 5 metres (z).
Additional information about the Mineral Resource modeling
methodology will be documented in the NI 43-101 technical report
(the "Technical Report") to be issued within 45 days.
The Spark pegmatite, discovered in September 2018 and delineated in 2019 and 2021
with four drill programs (20 holes totaling 5,768.7m and 14 channels totaling 342.4m). During 2022 two more drill programs
totaling 50 holes (15,983.6m) and
60m of channel sampling with
objectives of upgrading Inferred mineral resource category to
Indicated mineral resource were completed. The results from all
channels and drilling have been previously reported. Figure 1 is a
location map showing the project area.
Geological logging of channels and drill core combined with
multi-element geochemistry indicates a high degree of compositional
homogeneity throughout the deposit. The pegmatite consists
primarily of spodumene-bearing sodic aplite which is typically fine
to medium grained, light grey to greenish grey locally with coarser
zonations consisting of megacrystic feldspar, fine to
coarse-grained light grey to white spodumene, grey quartz and
variable amounts of muscovite. The coarser grained zones are
similar in appearance and composition to the LIZ (Lower
Intermediate Zone) at the PAK deposit 2.3 km to the southwest.
Figure 2 is a plan-view compilation map showing the surface
exposure and trace of the drill holes and channels completed at the
Spark pegmatite.
Figure 3 is a 3D rendering of the pegmatite solid and pit shell
of the Spark pegmatite. The deposit's current dimensions are
roughly 500m in length by up to
250m in width. Drilling has extended
the mineralized pegmatite to a depth of approximately 400m. It remains open in all
directions.
Due Diligence
All scientific and technical information in this release has
been reviewed and approved by Todd
McCracken, P.Geo., Director – Mining & Geology –
Central Canada, BBA E&C Inc.,
the qualified person (QP) and Garth
Drever, P.Geo., VP Exploration for Frontier Lithium Inc. 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 halve 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 Frontier employees and
then shipped to AGAT Laboratories Ltd. (AGAT) in Mississauga, ON for 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 with an objective
to become a strategic domestic supplier of spodumene concentrates
for industrial users as well as battery-grade lithium hydroxide and
other chemicals to the growing electric vehicle and energy storage
markets in North America. The
Company maintains the largest land position and resource in a
premium lithium mineral district located in Ontario's Great Lakes region.
About the PAK Lithium
Project
The PAK lithium project contains one of North America's highest-grade lithium
resources. The project encompasses close to 27,000 hectares 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. Exploration is continuing 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). A 2021 preliminary economic
assessment (National Instrument 43-101 technical report titled "NI
43-101 Technical Report, Pak Property, PAK, Red Lake Mining
District, Ontario, Canada" by BBA
E&C Inc., with an effective date of April 5, 2021) delivered a fully integrated
lithium operation, including the mine and mill and the conversion
plant for production of battery-quality lithium salts.
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.