Frontier Lithium Announces Remaining 2022 Exploration Plans Including a Minimum of 15,000 Meters of Drilling and Releases the Results from Channel Sampling at the BOLT Pegmatite
FRONTIER LITHIUM ANNOUNCES REMAINING
2022 EXPLORATION PLANS INCLUDING A
MINIMUM OF 15,000 METERS OF DRILLING
AND RELEASES THE RESULTS FROM
CHANNEL SAMPLING AT THE BOLT
PEGMATITE
SUDBURY, ON
,
May 2, 2022
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) (the "Company" or "Frontier") is pleased to announce their 2022 exploration program and
targets for the PAK Lithium Project (Project) in northwestern
Ontario
. Frontier's 2022 exploration
activities will mainly include infill and step out drilling on the Spark deposit, as well as, detailed and
regional mapping and prospecting in areas both proximal to known spodumene-bearing pegmatite
deposits and in under-explored areas within their 27,000 ha claim block. Phase XI drilling was
completed in
March 2022
with a total of
1,343m
in five holes drilled at the Spark deposit. All
samples are currently being processed with results pending.
The company plans to continue evaluating the Spark pegmatite recommencing mid-May by now
utilizing two diamond drills over the 2022 exploration period. With a current measured and indicated
resource of 21 Mt averaging 1.56 per cent Li
2
O and an additional inferred resource of 20 Mt
averaging 1.48 per cent Li
2
O, it is anticipated that the drilling will result in increases in all resource
categories of the deposit.
Concurrently, a team of experienced geologists and prospectors will also work on a geological
mapping and prospecting program. Emphasis will be placed on targeted areas of known
spodumene-bearing pegmatites with the objective of making additional discoveries.
"Increasing the lithium resource base will add to the overall scalability of the PAK Lithium Project
going forward ." states
Garth Drever
, Vice President Exploration of Frontier Lithium "Knowing that
the Pennock pegmatite, 25 km to the northwest, has the grades and technical purity of the PAK
deposit gives us confidence that more discoveries can be made."
Figure 1 PAK Lithium Project Discoveries (CNW Group/Frontier Lithium Inc.)
During the 2021 fall drill program the team completed an additional channel on the recently
discovered Bolt pegmatite located between the PAK and Spark deposits. Tables 1 and 2 provides
details on the mineralization and location of the channel while Figure 2 shows the channels relative to
the outline of exposed pegmatite. Channel 49, cut
125 m
to the northwest of the
previous channels
,
produced similar grades and mineral composition. The entire channel of
49m
averaged 1.14%
Li
2
O, but included a
29m
of a higher-grade interval measuring 1.45% Li
2
O.
Table 1: Details of Mineralized Intersections in Surface Channels (CNW Group/Frontier Lithium Inc.)
Figure 2: Compilation of the Bolt Pegmatite highlighting Channels cut and sampled in 2020 and 2021
(CNW Group/Frontier Lithium Inc.)
Table 2: Summary of Channels (CNW Group/Frontier Lithium Inc.)
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 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 is supported by a measured and indicated
resource of 21.64 million tonnes (Mt) averaging 1.56 per cent lithium oxide (Li
2
O) and inferred
resource of 20.87 Mt averaging 1.42 per cent Li
2
O.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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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 16:30e 02-MAY-22