Frontier Lithium Intersects 126.8M of Pegmatite Averaging 1.31% Li2O, Including a 11M Zone of 1.79% Li2O and 459ppm Ta2O5 and Announces New Stock Option Plan and Grant of Options
FRONTIER LITHIUM INTERSECTS 126.8M OF
PEGMATITE AVERAGING 1.31% Li2O,
INCLUDING A 11M ZONE OF 1.79% Li2O and
459ppm Ta2O5 AND ANNOUNCES NEW
STOCK OPTION PLAN AND GRANT OF
OPTIONS
SUDBURY, ON
,
Dec. 14, 2022
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) ("Frontier" or "the Company") is pleased to announce the results for seven more drill holes
completed during Phase XII drill program on the Spark pegmatite which began in May with two
diamond drill rigs and finished in October of 2022 with
14,641m
in 45 holes. The main objective of
the program was focused on converting 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
When combining Phase XI and Phase XII delineation and infill drilling, the Company completed
15,984m
of drilling in 50 holes in 2022. Highlights from the seven Phase XII diamond drill holes
reported are included below.
DDH PL-077-22 intersected
126.8m
of pegmatite from
56.9m
to
183.7m
averaging 1.31% Li
2
O.
Drilled from the south, PL-077-22 was the first of 4 holes designed to define the eastern extent
where the main Spark pegmatite orebody begins to break up into smaller pods separated by
mafic rafts.
Includes two narrow lithium and tantalum enriched zones at depth including
11.1m
from
260.2 to
271.3m
averaging 1.79% Li
2
O and 459 ppm Ta
2
O
5
and
13.5m
from 414.5 to
428.0m
averaging 1.01% Li
2
O and 194 ppm Ta
2
O
5
.
DDH PL-078-22 intersected
104.9m
of pegmatite from 120.4 to
225.3m
averaging 1.58% Li
2
O
and a second
33.5m
pegmatite zone from 246.7 to
280.2m
averaging 1.63% Li
2
O. Collared in
the mafic volcanic host rock
24m
west of PL-040-19, the hole designed to define the eastern
extent where the main Spark pegmatite orebody begins to break up into smaller pods
separated by mafic rafts.
Includes
35m
from 149.0 to
184.0m
averaging 2.39% Li
2
O.
Includes
24.3m
from
255.5m
to
259.8m
averaging 2.04% Li
2
O.
"We are pleased with the drilling results from the 2022 Drill Program to date, with the Spark deposit
remaining open in all directions. The focus continues to be at depth and to the west where the grade
and thicknesses of the deposit remain robust." states
Garth Drever
, V.P. Exploration. "Of the
14,641m
drilled during Phase XII, a total of
8,720m
of drill core was cut and submitted for analysis.
15 holes are outstanding and will be disseminated as they are received and pass quality assurance
and control protocols."
The initial objective for the Phase XII drill program was focused on converting the inferred resource
within the Spark deposit to the indicated category in preparation for a pre-feasibility study on the
PAK Lithium Project. The latter half of the program included geotechnical drilling for ground control
and pit design purposes as well as step out drilling to define the eastern and western extents of the
ore body.
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 2 is a plan view showing all drilling with analytical data completed to date with emphasis on
drill hole traces reported in this release.
Planview map of the Spark pegmatite showing drillhole traces. (CNW Group/Frontier Lithium Inc.)
Table 1 details the drill holes and channel with mineralized intersections while Table 2 summarizes all
Phase XII drill holes completed as well as the channel.
Drill Hole
PL-077-22
Collared in between PL-076-22 and PL-045-19, the hole was designed to define the
pegmatite east of the main body where it begins to break up into smaller pods separated by
mafic rafts. In total, 159m of pegmatite was intersected, most of which was mineralized
(>1% Li2O).
Zone
From
(m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
56.9
183.7
126.8
1.31
0.02
85
70
113
0.26
Pegmatite-Aplite
including
76.0
102.0
26.0
1.77
0.02
89
70
160
0.28
Pegmatite
Li-Ta-Rb Enriched
260.2
271.3
11.1
1.79
0.31
459
49
122
0.68
Aplite
Li-Ta-Rb Enriched
414.5
428.0
13.5
1.01
0.19
194
37
113
0.47
Aplite
Table 1: Details of Mineralized Intersections
Drill Hole
PL-078-22
Collared 24m west of PL-040-19, the hole was designed to define the pegmatite on the east
extent of Spark where the pegmatite pods begin to pinch out
Zone
From
(m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
120.4
225.3
104.9
1.58
0.04
153
64
120
0.35
Aplite
including
149.0
184.0
35.0
2.39
0.03
208
69
120
0.38
Aplite
Li- Enriched
246.7
280.2
33.5
1.63
0.07
186
50
56
0.26
Pegmatite
including
255.5
279.8
24.3
2.04
0.05
256
69
48
0.29
Pegmatite
Drill Hole
PL-080-22
Collared 16m south of PL-051-21 on the of the main Spark pegmatite, the hole
was designed to define the west end where the main ore body begins to break up into smaller
pegmatite pods separated by mafic rafts. A total of 190m of pegmatite was intersected with
much of the southern lower intersections barren of spodumene.
Zone
From
m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
2.5
81.0
78.5
1.12
0.02
69
83
69
0.25
Aplite-pegmatite
including
2.5
32.0
29.5
1.75
0.01
44
71
72
0.31
Pegmatite
Li-Enriched
94.5
100.0
5.5
2.07
0.01
51
27
52
0.19
Pegmatite
Li-Enriched
106.0
121.1
15.1
2.20
0.03
93
66
75
0.42
Pegmatite
Drill Hole
PL-081-22
Collared 13m south of PL-080-22 on top of the main Spark pegmatite, the hole was designed
to fill in a gap to convert material and to further define the southern contact of the main ore
body. The intent was to extend the hole and further define smaller pegmatite pods to the
south. A total of 227.3m of pegmatite was intersected with mostly barren pegmatite below 200m..
Zone
From
(m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
3.4
48.1
44.7
1.40
0.02
56
74
36
0.26
Aplite-pegmatite
including
32.9
40.3
7.4
2.98
0.01
71
72
36
0.18
Pegmatite
Li-Enriched
59.3
144.1
84.9
1.63
0.01
92
87
45
0.26
Aplite
including
112.5
140.5
28.0
2.06
0.01
86
86
42
0.27
Aplite
Li-Enriched
162.1
198.2
36.1
1.75
0.03
78
106
64
0.24
Aplite
including
163.0
189.0
26.0
2.03
0.02
82
109
60
0.27
Aplite
Drill Hole
PL-082-22
Collared on the southern end of CH-50 on top of the main Spark pegmatite, designed to fill in
a gap and define the northern contact of the main orebody.
Zone
From
(m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
0.0
25.5
25.5
1.08
0.04
43
53
58
0.20
Pegmatite
including
0.0
17.5
17.5
1.35
0.05
43
51
60
0.21
Pegmatite
Li-Enriched
36.3
86.0
49.8
1.80
0.01
67
82
42
0.24
Pegmatite-Aplite
including
76.5
86.0
9.5
2.92
0.01
50
54
32
0.20
Aplite-pegmatite
Li-Enriched
111.7
187.3
75.7
1.70
0.02
130
98
71
0.29
Aplite-pegmatite
including
123.5
141.0
17.5
2.14
0.03
119
85
106
0.30
Pegmatite
Drill Hole
PL-083-22
Collared 32m east of PL-078-22, the hole was designed to define the pegmatite on the east
extent of Spark where the pegmatite pods begin to pinch out
Zone
From
(m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
121.4
154.9
33.5
1.67
0.04
165
58
109
0.29
Aplite-Pegmatite
including
145.0
153.9
8.8
3.09
0.00
322
80
59
0.06
Pegmatite
Li-Enriched
169.5
209.6
40.1
1.04
0.03
100
42
100
0.26
Aplite
including
171.9
202.4
30.5
1.19
0.03
107
46
111
0.29
Aplite
Li-Enriched
316.5
361.0
44.5
1.56
0.11
202
49
146
0.82
Pegmatite-Aplite
including
337.0
353.8
16.8
2.34
0.09
143
37
93
0.99
Pegmatite
Drill Hole
PL-084-22
Collared 18m east of PL-083-22, the hole was stepped out to cut off the east extent of
the Spark pegmatite. Although the pegmatite is narrowing, it still remains open
Zone
From
(m)
To
(m)
Width
(m)
Li
2
O
(%)
Cs
2
O
(%)
Ta
2
O
5
(ppm)
Nb
2
O
5
(ppm)
SnO
2
(ppm)
Rb
2
O
(%)
Unit
Li-Enriched
14.4
20.2
5.9
2.41
0.01
73
45
21
0.25
Pegmatite
Li-Enriched
92.1
97.0
4.9
1.21
0.01
150
79
76
0.21
Aplite
Li-Enriched
107.2
123.0
15.8
1.36
0.02
134
71
80
0.35
Aplite
DDHNo
Date Drilled
UTM Zone 15N (NAD83)
Collar Orient
Metres Drilled
Start
End
Easting
Northing
(mASL)
Azim
Dip
Start
End
PL-057-22
1
2022-05-15
2022-10-01
472,733
5,829,489
355.9
359
-55
0
225
PL-058-22
1
2022-05-17
2022-10-03
472,733
5,829,489
355.9
177
-70
0
400
PL-059-22
2
2022-05-24
2022-05-28
472,698
5,829,535
356.0
165
-78
0
316
PL-060-22
2
2022-05-27
2022-06-04
472,749
5,829,559
360.0
180
-73
0
360
PL-061-22
2
2022-05-20
2022-05-27
472,773
5,829,561
360.2
178
-65
0
327
PL-062-22
3
2022-05-28
2022-06-05
472,712
5,829,596
356.2
176
-65
0
360
PL-063-22
1
2022-06-05
2022-06-10
472,746
5,829,539
360.0
187
-70
0
348.5
PL-064-22
1
2022-06-05
2022-06-10
472,712
5,829,596
356.2
141
-65
0
352.5
PL-065-22
4
2022-06-10
2022-06-22
472,686
5,829,583
354.0
173
-72
0
330.86
PL-066-22
3
2022-06-12
2022-06-27
472,732
5,829,371
325.0
323
-70
0
365.67
PL-067-22
4
2022-06-29
2022-07-04
472,778
5,829,383
327.0
315
-70
0
352.5
PL-068-22
2
2022-06-22
2022-06-27
472,790
5,829,540
360.0
171
-55
0
343.5
PL-069-22
4
2022-07-06
2022-07-15
472,814
5,829,385
326.0
324
-61
0
412.3
PL-070-22
3
2022-06-28
2022-07-04
472,805
5,829,588
360.0
184
-54
0
405
PL-071-22
3
2022-07-04
2022-07-15
472,805
5,829,588
360.0
160
-52
0
384.6
PL-072-22
4
2022-07-15
2022-07-21
472,847
5,829,384
326.0
349
-61
0
386.2
PL-073-22
3
2022-07-16
2022-07-23
472,816
5,829,589
360.0
146
-52
0
392
PL-074-22
5
2022-07-28
2022-08-02
472,584
5,829,497
354.0
162
-47
0
403.5
PL-075-22
5
2022-08-01
2022-08-06
472,571
5,829,490
354.0
177
-47
0
408
Table 2: Summary of Phase XII Drill Program (May to October 2022)
Phase XII
PL-076-22
5
2022-07-25
2022-08-05
472,846
5,829,384
326.0
314
-63
0
438
PL-077-22
2022-08-08
2022-08-24
472,864
5,829,390
326.0
354
-56
0
433.38
PL-078-22
2022-08-25
2022-09-01
472,939
5,829,369
326.0
341
-55
0
339.7
PL-079-22
5
2022-08-06
2022-08-15
472,538
5,829,480
357.0
177
-48
0
417
PL-080-22
2022-08-16
2022-08-23
472,687
5,829,511
354.0
193
-55
0
418.5
PL-081-22
2022-08-24
2022-08-30
472,689
5,829,499
354.0
177
-46
0
367.7
PL-082-22
2022-08-30
2022-09-02
472,718
5,829,455
355.0
6
-61
0
241.5
PL-083-22
2022-09-02
2022-09-06
472,971
5,829,367
326.0
343
-57
0
377.3
PL-084-22
2022-09-07
2022-09-11
472,983
5,829,380
325.0
358
-42
0
327
PL-085-22
2022-09-02
2022-09-05
472,731
5,829,472
354.0
309
-57
0
232
PL-086-22
2022-09-05
2022-09-08
472,731
5,829,472
354.0
162
-46
0
201
PL-087-22
2022-09-08
2022-09-11
472,701
5,829,451
354.0
318
-50
0
213.4
PL-088-22
2022-09-11
2022-09-16
472,706
5,829,453
354.0
173
-46
0
210.7
PL-089-22
2022-09-16
2022-09-17
472,762
5,829,514
360.0
360
-50
0
87
PL-090-22
2022-09-11
2022-09-15
472,746
5,829,371
326.0
334
-45
0
289.4
PL-091-22
2022-09-15
2022-09-18
472,663
5,829,362
327.0
338
-43
0
261.4
PL-092-22
2022-09-17
2022-10-20
472,762
5,829,514
360.0
174
-46
0
274.5
PL-093-22
2022-09-20
2022-09-23
472,614
5,829,329
328.0
345
-47
0
253.6
PL-094-22
2022-09-24
2022-10-01
472,657
5,829,357
326.0
351
-54
0
339
PL-095-22
2022-09-20
2022-09-23
472,785
5,829,531
362.0
165
-44
0
258.6
PL-096-22
2022-09-23
2022-09-30
472,865
5,829,583
359.0
136
-44
0
425.3
PL-097-22
2022-10-03
2022-10-04
472,698
5,829,535
354.0
6
-70
0
12.5
PL-098-22
2022-10-01
2022-10-09
472,756
5,829,387
327.0
317
-58
1
471
PL-099-22
2022-10-09
2022-10-15
472,529
5,829,361
330.0
345
-65
0
477
PL-GDH-11-22
2022-07-22
2022-07-24
473,046
5,829,379
325.0
285
-47
0
173.5
PL-GDH-12-22
2022-07-23
2022-07-25
472,456
5,829,470
358.0
119
-45
0
228
Total metres drilled
14,641.1
Notes:
1: Reported on Release July 25, 2022
2: Reported on Release August 17, 2022
3: Reported on Release September 20, 2022
4: Reported on Release October 11, 2022
5: Reported on Release November 16, 2022
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.
New Stock Option Plan and Grant of Stock Options
The Company also announces that it has adopted a new 10% rolling stock option plan (the "
New
Stock Option Plan
"). The New Stock Option Plan has been approved by the board of directors of
the Company, the shareholders of the Company at the annual general meeting of shareholders on
October 3, 2022
, and is subject to approval by the TSX Venture Exchange ("
TSXV
"). The New
Stock Option Plan replaces the Company's previous 10% fixed stock option plan.
Under the New Stock Option Plan, the Company may grant options to acquire common shares of the
Company in an aggregate amount of up to 10% of the then current issued and outstanding common
shares, subject to the terms and conditions of the New Stock Option Plan, the Policies of the TSXV
and applicable securities laws. Any options outstanding under the previous stock option plan will be
governed by the New Stock Option Plan. The New Stock Option Plan will be filed on the Company's
SEDAR profile and the terms, limitations and conditions of this plan can be accessed at
www.sedar.com
.
The board of directors of the Company would also like to announce at this time that is has granted
an aggregate of 4,900,000 stock options under the New Stock Option Plan (the "
Options
"). The
Options have been issued to certain directors, officers, consultants and employees of the Company
for retention purposes, and in recognition of these individuals continuing efforts in assisting the
Company's with its growth. The Options are exercisable at a price of $
$2.10
per common share
and will have a term of 5 years from the date of issuance. 50% of these Options vest on the grant
date, and the remaining 50% vest on the date that is the first anniversary date of the grant date.
These Options are subject to approval by the TSXV.
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
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
SOURCE
Frontier Lithium Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2022/14/c2712.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 07:30e 14-DEC-22