SUDBURY,
ON, March 15, 2023 /CNW/ - Frontier Lithium
Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the
Company") is pleased to provide an update for current and future
exploration plans for the PAK Lithium Project (the Project) in
northwestern Ontario.
Highlights
- Frontier Lithium has an exploration target of 100M tonnes (measured, indicated and inferred) of
open pit resource on the Project;
- Phase XIII Diamond Drill Program targeting up to 10,000
meters;
- The Project has two exploration drills on site with maiden
drilling on the untested 600 meter long Bolt pegmatite to commence
by spring;
- PAK deposit geotechnical and environmental drilling currently
underway;
- Exploration drilling planned to test Spark deposit western
extension towards a high-grade target 1.1km on strike from the
resource;
- Continue to conduct environmental baseline studies to advance
project permitting.
The Phase XIII drill Program has been designed to contribute
towards the Company's Exploration target of 100M tonnes of open pit resource on the PAK
Lithium Project (Figure 1) and to perform limited geotechnical and
environmental drilling to support feasibility study of the
Project.
A maiden drill program will soon commence testing the 600 meter
long Bolt pegmatite showing located between the PAK and Spark
deposits (Figure 2). Currently the Bolt pegmatite has been
defined by surface mapping and two channel cuts (36m channel averaging 1.51% Li2O and 49m channel averaging 1.14% Li2O spaced
230m apart). A minimum of 6 drill
holes are planned targeting Bolt. During the summer other
targets generated during the 2022 regional mapping and prospecting
will be followed-up with detailed mapping, prospecting and channel
sampling.
Further exploration drilling is planned to define the western
extension of the Spark deposit, particularly the "high grade" zone
intersected to the northwest including the one-kilometre area
between the Spark deposit and the new pegmatite discovered through
two grab samples averaging 3.1% Li2O in 2022" (Figure
2).
Garth Drever VP Exploration
commented" Its exciting times to substantially increase a
world-class spodumene pegmatite like Spark with what we anticipate
from drilling the Bolt pegmatite. Although not visibly connected on
surface, drilling may confirm continuity at depth."
In January 2023, permits were
granted by the Ontario government
to extract and remove 1,000 metric tonne bulk samples from both the
PAK and Spark deposits. Currently drilling, blasting and hauling
activities are taking place on the Project. In February the Company
commenced hydrogeological and geomechanical drilling on the
Project required for feasibility at the PAK deposit pit area. Some
in-fill drilling targeting the Spark inferred resource will also be
completed as a part of the program.
On February 28th, 2023,
the Company updated the Mineral resource estimate (report pending)
on Spark deposit only. Figure 3 is the Global Resource for the
Project including PAK deposit as per the 2021 preliminary economic
assessment (National Instrument 43-101 technical report titled "NI
43-101 Technical Report.
|
PAK Lithium Project
Global Resource
|
2023
(2023-02-28)
|
Deposit
|
Resource
Category
|
Tonnes
(t)
|
Li2O
(%)
|
Contained
Li2O (t)
|
Lithium
Carbonate
Eq. LCE
(t)
|
PAK
|
Measured
|
1,344,600
|
2.14
|
28,790
|
71,193
|
PAK
|
Indicated
|
5,884,930
|
1.81
|
106,373
|
263,044
|
Spark
|
Indicated
|
18,828,000
|
1.52
|
286,186
|
707,694
|
PAK
|
Inferred
|
2,758,250
|
2.22
|
61,107
|
151,108
|
Spark
|
Inferred
|
29,746,000
|
1.34
|
398,596
|
985,668
|
Combined
|
Measured/Indicated
|
26,057,530
|
1.62
|
421,348
|
1,041,931
|
Combined
|
Inferred
|
32,504,250
|
1.41
|
459,703
|
1,136,776
|
Combined
|
Measured/Indicated/Inferred
|
58,561,780
|
1.50
|
881,052
|
2,178,707
|
Figure 3: PAK Lithium Project Global Resource
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.
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 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.