Frontier Lithium Announces Expansion of Spark Deposit - 18.8 MT IN Indicated and 29.7 MT IN Inferred Categories
FRONTIER LITHIUM ANNOUNCES
EXPANSION OF SPARK DEPOSIT - 18.8 Mt IN
INDICATED AND 29.7 Mt IN INFERRED
CATEGORIES
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% Li
2
O in the Indicated category, a 30% increase in size;
29.7 million tonnes averaging 1.34% Li
2
O 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.
Cut-Off
(%)
Resource Category
Tonnes
(t)
Li
2
O
(%)
Nb
2
O
5
(ppm)
Cs
2
O
(%)
Ta
2
O
5
(ppm
Rb
2
O
(%)
SnO
2
(ppm)
Lithology
0.65 Li
2
O
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
Table 1: Summary of Mineral Resource Estimate for Spark Pegmatite
Mineral Resource Estimate Notes
1
.
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.
2
.
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.
3
.
Appropriate mining costs, processing costs, metal recoveries, and inter ramp pit slope angles
were used by BBA to generate the pit shell.
4
.
Rounding may result in apparent summation differences between tonnes, grade, and contained
metal content.
5
.
Tonnage and grade measurements are in metric units.
6
.
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 Li
2
O 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.
Figure 1: Location Map showing project area including the Spark Pegmatite (CNW Group/Frontier
Lithium Inc.)
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 2: Compilation of the Spark Pegmatite (CNW Group/Frontier Lithium Inc.)
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.
Figure 3: 3D Rendering of the Spark Pegmatite showing drill holes, channels wireframe and pit shell
used in the Resource Calculation (CNW Group/Frontier Lithium Inc.)
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2023/28/c1950.html
%SEDAR: 00008434E
For further information:
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
CO: Frontier Lithium Inc.
CNW 10:30e 28-FEB-23