FRONTIER INTERSECTS 330.7 METERS OF HIGH-GRADE LITHIUM AVERAGING 1.79% Li2O OVER A HORIZONTAL DISTANCE OF 120 METRES
TSX.V RELEASE | September 20, 2022 | TSX.V:FL; FRA:HL2; OTCQX: LITOF
Sudbury, Ontario, – Frontier Lithium is pleased to announce the results for five 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 11,150m of drilling in 34 holes as of September 11, 2022. Analysis from 5 of the holes have been received and reported herein.
- DDH PL-062-22 Intersected a total of 180.8m of pegmatite averaging 1.55% Li2O with thin sheets of mafic rafts within the pegmatite as expected. Collared north of the Spark Pegmatite in mafic volcanic, hole was drilled to convert inferred material at depth and to provide a northern contact of the Spark Pegmatite. Hole was terminated in pegmatite due to time constraints and will extended later in the program.
- Includes 16.9m from 178.0m to 194.9m of 2.19% Li2O
- DDH PL-066-22 intersected 338.0m of continuous pegmatite averaging 1.79% Li2O. Collared in pegmatite on the southern end of the Spark orebody, the hole was drilled to convert inferred material at depth
- Includes 14m zone from 89.0m to 103.0m of 2.73% Li2O
- Includes 14m zone from 159.0m to 173.0m of 2.58% Li2O
- Includes 24m zone from 191.0m to 215.0m of 2.52% Li2O
- DDH PL-070-22, PL-071-22 and PL-073-22 were collared proximal to each other and fanned out to test both the northern upper and southern lower contacts with the mafic host rock. As expected, they intersected diminishing proportions of pegmatite from west to east with an increase in mafic rafts towards the east.
- PL-070-22 intersected a total of 181.1m of pegmatite averaging 1.53% Li2O
- PL-071-22 intersected a total of 107.7m of pegmatite averaging 1.40% Li2O
- Includes 5.4m from 242.6 to 248.0m averaging 663 ppm Ta2O5 and 1.3% Li2O
- PL-073-22 intersected a total of 124.5m of pegmatite averaging 1.38% Li2O
- Includes 16.0m from 92.2 to 108.1 averaging 521 ppm Ta2O5 and 1.02% Li2O
“We are extremely pleased with the drilling results to date.” states Garth Drever, V.P. Exploration. “The infill-drilling continues to be predictable, the pegmatite remains open in all directions and zones of elevated tantalum and cesium along with lithium are being delineated.”
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-062-22 was terminated in pegmatite and PL-066-22 was ended in mafic volcanics due to PFS time constraints requiring quick turn-around of analysis. With one month of drilling remaining in the current program, Frontier will focus on defining the limits of the pegmatite and deepening many of the initial holes that had been terminated earlier 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 1: Location Map showing land tenure and geology
|
|
|
Figure 2 is a plan view showing all drilling completed to date.
|
|
|
Figure 2 is a plan view showing all drilling with analytical data 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 reported within and completed up to September 11, 2022.
|
|
|
Table 1: Details of Mineralized Intersections
|
|
|
Table 2: Summary of Phase XII Drill Program
|
|
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 the 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).
Company Contact Information
Bora Ugurgel
Manager, Investor Relations
2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
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.
|
|
|
|
|
|
