SUDBURY,
ON, Jan. 31, 2023 /CNW/ - Frontier Lithium
Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the
Company") is pleased to announce results from the 2022 mapping
campaign at the PAK Lithium Project. The mapping program delivered
several key results, including:
- Discovery of a new pegmatite zone approximately 1km WNW of the
Spark deposit;
-
- Two grab samples with an average grade of 3.1 %
Li2O
- Significant expansion of the Pennock Pegmatite showing;
-
- Three grab samples grading 1.7%, 1.7%, and 3.0%
Li2O
- Generation of prospective targets to be followed up in future
regional mapping and prospecting programs.
Garth Drever, Vice-President of
Exploration, commented, "Our exploration team completed an
efficient and targeted program throughout this past summer and
fall. We expect that the identification of new mineralized zones
and key structural features will not only expand our understanding
of the project area but will also lead to additional discoveries
and high-grade opportunities. We look forward to building on the
results of our teams' hard work and plan to continue our methodical
approach to this evolving lithium district."
2022 Mapping Program
Between the months of May and August, Frontier Lithium conducted
both detailed and regional mapping and prospecting in areas both
proximal to known spodumene-bearing pegmatites and in
under-explored areas within its approximately 27,000 hectare land
tenure with the following objectives:
- Ground-truthing regional work at 1:50k scale previously completed by Ontario
Geological Survey (OGS)
- Reconnaissance prospecting for new lithium bearing
pegmatites
- Further investigation of known lithium bearing pegmatite
showings.
Figure 1 is a preliminary compilation of the work completed
showing the coverage over the entire project area with more detail
at the Pennock and Spark areas. As many as 33 areas
classified as pegmatite, pegmatite veins etc. (white crosses) have
been identified and require follow-up. Geochemical analysis
was completed on 38 grab samples. Table 1 is a summary of the
grab samples from the Pennock and Spark-Ext areas.
Table 1: Summary of Mineralized samples from
Pennock and Spark extension areas
Area
|
Station
|
WGS84 Zone
15N
|
Sample
ID
|
Li2O
%
|
Cs2O
%
|
Rb2O
%
|
Ta2O5
ppm
|
SnO2
ppm
|
Nb2O5
ppm
|
Lithology
|
UTM_E
|
UTM_N
|
Spark
Ext
|
22TG0050
|
471,350
|
5,829,920
|
B00197951
|
3.08
|
0.003
|
0.09
|
55
|
43
|
63
|
Pegmatite
|
22TG0050
|
471,350
|
5,829,920
|
B00197952
|
3.04
|
0.003
|
0.09
|
55
|
48
|
59
|
Pegmatite
|
Pen-
nock
|
22EB0109
|
456,870
|
5,844,307
|
B00197966
|
3.04
|
0.002
|
0.09
|
23
|
193
|
34
|
Pegmatite
|
22EB0128
|
456,707
|
5,844,086
|
B00197959
|
1.74
|
0.007
|
0.19
|
16
|
14
|
13
|
Pegmatite
|
22EB0130
|
456,549
|
5,844,138
|
B00197960
|
1.70
|
0.006
|
0.31
|
44
|
20
|
27
|
Pegmatite
|
New Showings
Spark Extension
A new LCT pegmatite showing 10 x 15m, was discovered approximately 1 km WNW of the
Spark Pegmatite (See inset map in Figure 1 (Station 22TG0050)). The
spodumene-bearing pegmatite is surrounded by mafic volcanic host
rock and contains aplitic to pegmatitic zoning with a mineral
assemblage of spodumene, quartz, muscovite, +-lepidolite and
garnet. These characteristics are all analogous to the Spark
deposit and follows the same general trend of all currently
discovered LCT pegmatites in the project area. Pegmatite
veins with similar mineralogy and texture can be traced up to 6km
NW of Spark. Figure 2 shows the outcrop and a close-up of the
typical "snowshoe" textures of the SQUI (spodumene quartz
intergrowths).
Pennock extension
Additional mapping and prospecting proximal to the Pennock LCT
pegmatite uncovered additional Li-bearing pegmatites,
including three up to 30m in length. The Pennock showing which
was previously defined as a 1.5 km-long pegmatite dike, has
increase significantly in size, despite the low outcrop exposure.
The inset map in Figure 1 shows the location of two of
the larger pegmatite outcrops both with grab samples averaging
1.7% Li2O. Station 22EB0109 with a grade of 3.0%
Li2O is from the original Pennock showing. Figure 3 shows the
two southern outcrops (Stations 22EB0128 and 22EB0130) with grabs
samples each grading 1.7% Li2O.
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. During
the mapping program representative samples were routinely collected
using rock hammers, however, it should be noted that because of the
nature of some outcrop surfaces, an optimum sample was difficult to
obtain. 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.
Other Matters
The Company would also like to announce at this time that is has
granted 150,000 stock options under the New Stock Option Plan (the
"Options"). The Options have been issued to certain
directors, officers, or employees of the Company. The Options are
exercisable at a price of $ $2.30 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.
SOURCE Frontier Lithium Inc.