- Resource estimate update for Spark Pegmatite includes 14
million tonnes averaging 1.40% Li2O in the Indicated
- Includes another 18 million tonnes averaging 1.37%
Li2O in the Inferred category;
- The Spark lithium deposit remains open along strike and down
SUDBURY, ON, March 1, 2022 /CNW/ - Frontier Lithium
Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) (the "Company" or "Frontier") is pleased to
report an updated mineral resource estimate for the Spark
deposit, the second delineated premium spodumene-bearing lithium
deposit on 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.
"Due in part to the predictability of the in-fill drilling
completed in 2021, as anticipated, most of the Inferred from the
previous Resource Estimate is now in the higher confidence levels
of Indicated", commented Garth
Drever, Vice President Exploration of Frontier Lithium. "We
are certainly pleased to have increased the overall size of the
Spark Pegmatite." added Drever.
Table 1: Summary of Mineral Resource Estimate for Spark
Mineral Resource Estimate Notes
- 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.
- Open pit Mineral Resources are reported at a cut-off grade
of 0.70 % Li2O that is based on a spodumene concentrate prices of
US$800/tonne and an exchange rate of
- Appropriate mining costs, processing costs, metal
recoveries, and inter ramp pit slope angles were used by BBA to
generate the pit shell.
- Rounding may result in apparent summation differences
between tonnes, grade, and contained metal content.
- Tonnage and grade measurements are in metric units.
- A bulk density factor of 2.72 was applied to the pegmatite
based on 437 measurements.
Modeling was performed using Datamine Studio RM software with
grades estimated using ordinary kriging (OK) interpolation
methodology. Samples were composited at 2.0 metre down hole.
Assessment of composites indicated no capping was required on the
Li2O 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 2.5 metre by 2.5 metre (y) by 2.5 metre
Additional information about the Mineral Resource modeling
methodology will be documented in the upcoming NI 43-101 technical
report (the "Technical Report").
The Spark pegmatite, discovered in September 2018 and delineated in 2019 with two
drill programs (9 holes totaling 2,500m and 12 channels totaling 288.4m). During 2021, two more drill programs
totaling 11 holes (3,269m) and
54 m of channel sampling with
objectives of upgrading the largely Inferred mineral resource
category to Indicated mineral resource were completed. The results
from the channels and drilling have been previously reported.
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.
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 that is targeting
to become a manufacturer of battery-quality lithium materials to
support electric vehicle and battery supply chains in North America. Frontier owns 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 the
Electric Avenue, a premium lithium mineral district located in
About the PAK Lithium Project
The PAK Lithium Project contains a tier one lithium
resource in North America and is
one of the global top three premium resources by quality. 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 26,774 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 10.49 million
tonnes (Mt) averaging 1.78 per cent lithium oxide (Li2O)
and inferred resource of 18.48 Mt averaging 1.45 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 (30 kilometres northwest of PAK Deposit within
the project claims).
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.