FL Frontier Lithium Inc

SUDBURY, ON, Oct. 11, 2022 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company") is pleased to announce the results for four 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.

• 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 11th, 2022.  Analysis from 4 of the holes are reported herein.
• DDH PL-065-22 intersected a total of 171.5m of pegmatite averaging 1.57% Li₂O and thin sheets of mafic rafts within the pegmatite as expected. Collared north of the Spark Pegmatite in mafic volcanic 30m west of PL-062-22, hole was drilled to convert inferred material at depth and to provide a northern contact of the Spark Pegmatite. 
• • Includes 19.2m zone from 241.8m to 261.0m of 2.88% Li₂O, 2.23% Cs₂O and 513 ppm Ta₂O₅
• DDH PL-067-22 intersected 326.6.m of pegmatite averaging 1.92% Li₂O.  Collared in pegmatite on the southern end of the Spark orebody and 40m east of PL-066-22, the hole was drilled to convert inferred material at depth
• • Includes 50m from 98.0m to 148.0m averaging 2.98% Li₂O.
• DDH PL-069-22 intersected 275.3m of pegmatite averaging 1.74% Li₂O.  Collared in Mafic Volcanic on the southern end of the Spark orebody, hole was drilled to convert inferred material at depth. 
• • Includes 30m zone from 348.0m to 378.0m of 2.32% Li₂O.
• DDH PL-072-22 intersected 124.1m of pegmatite averaging 1.55% Li₂O.  Collared in Mafic Volcanic on the southern end of the Spark orebody, 30m east of PL-069-22, the hole was drilled to convert inferred material at depth. 

"After tripling the metres drilled since the Resource update in March 2021 and targeting the Inferred, it is safe to say that the model remains robust and there will be substantial new Inferred." states Garth Drever, V.P. Exploration. "The Spark deposit remains open in all directions with predictable grades and widths."

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.  Frontier is now focused on defining the limits of the pegmatite and deepening some of the initial holes such as PL-065-22, 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 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 PL-073-22.

Table 1: Details of Mineralized Intersections

Table 2:  Summary of Phase XII Drill Program (May to September 11, 2022)

The Company has elected to introduce a phased approach in the Preliminary Feasibility Study currently underway by firstly advancing a mine and mill development to initially produce premium spodumene concentrates in Phase I. Phase II plans will increase mine and mill production to feed its downstream refinery to produce lithium chemicals for the energy storage and electric vehicle battery market.  As a result of the Phased approach, the Company is updating delivery of the PFS to calendar Q1 2023.

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.

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 new premium lithium mineral district located in Ontario's Great Lakes region.

The PAK Lithium Project is one of the highest quality known lithium mineral resource in North America due to its high-grade and low impurity properties in the pegmatite ore material and the spodumene mineral. The Company published a Preliminary Economic Assessment ("PEA") in April 2021 that indicated an after-tax Net Present Value ("NPV") at an 8% discount rate of US $974 million and a 21% after-tax Internal Rate of Return ("IRR") through a fully-integrated lithium operation utilizing spodumene concentrate generated from the PAK Lithium Project to achieve downstream conversion for production of battery-quality lithium chemicals and concentrate for the glass and glass-ceramics market. For details, please refer to the NI 43-101 Technical report by BBA Engineering Ltd. issued on April 9, 2021 and filed under the Company's profile on SEDAR on April 14, 2021.

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.