Latest News Release -
V.FL

SUDBURY, ON, June 13, 2024 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company"), is pleased to announce update on the winter work program with results from five geotechnical holes drilled on the Spark pegmatite to advance the first phase of definitive feasibility study.

Highlights

  • DDH PL-GDH-24-24 intersected 136.7m of pegmatite from surface averaging 1.32% Li2O.
  • DDH PL-GDH-26-24 intersected 53.2m of pegmatite from surface averaging 1.24% Li2O and 26.9m from 222.0 to 248.8m averaging 2.12% Li2O and 0.7% Rb2O.
    • Including 8.4m from 45.1 to 53.5m averaging 2.33% Li2O
    • Including 5.0m from 116.8 to 121.8m of elevated Ta (685 ppm Ta2O5) and Sn (1,465 ppm SnO2).
    • Including 7.0 m from 240.8 to 247.9 averaging 2.97% Li2O and 1.04% Rb2O
  • DDH PL-GDH-27-24 intersected 48.1m of pegmatite from surface averaging 1.93% Li2O and another 49.8m from 129.7 to 179.5m averaging 2.23% Li2O with elevated Cs (0.61% Cs2O) and Ta (461 ppm Ta2O5)
    • Including 8.3m from 31.7 to 40.0m averaging 3.33% Li2O
    • Including 5.9m from 144.1 to 150.0m of 3.4% Li2O and 2.75% Cs2O
  • DDH PL-134-24 stepped out 200m to the west as a condemnation hole, intersected 26.8 m of pegmatite from 18.9 to 45.7m confirming that the Spark pegmatite remains open.

"The geotechnical winter diamond drill program yielded consistent drill intersections with the two northern holes confirming and extending a high-grade lithium zone, with enriched cesium and tantalum. The program also extended the Spark pegmatite 200 metres to the west," commented Garth Drever, VP Exploration of the Company. "Although width and lithium values were low, based on existing drill intercepts to the east, we expect the pegmatite to increase in both grade and width with depth."

During the winter season, four geotechnical holes (PL-GDH-24 to 27-24) were drilled from the top of Spark in four directions to test pit-wall stability and hydrogeological conditions. As expected, mineralized pegmatite was intersected in all holes. A fifth condemnation hole was drilled 200m to the west, near a proposed overburden stockpile. Figure 1 shows the project area from the Knox camp to the Mining Lease area. Figure 2 is a map of the Spark deposit highlighting the 2024 drilling and displaying all drill holes.

In addition to the diamond drilling at Spark, during February-March geotechnical drilling continued on potential infrastructure sites including stockpiles, tailing management, mill and other related facilities. Environmental studies and monitoring continued and well as community engagement. All work was conducted out of the Knox camp situated on the winter road to Deer Lake as shown on Figure 1.

Figure 1: Location Map showing project area with existing and proposed PFS Infrastructure (CNW Group/Frontier Lithium Inc.)

Figure 2: Spark outline showing drill hole detail for the 5 holes reported. (CNW Group/Frontier Lithium Inc.)

Table 1 details the drill holes with mineralized intersections from the Spark area while Tables 2 summarize all drill holes completed at Spark in 2024.

Table 1: Summary of 2024 Drill Hole Intersections at Spark

PL-GDH-24-24

Collared on the southern end of the main Spark pegmatite zone, hole was designed by DRA Global as part of a geomechanical-hydrogeological program to test the hydraulic conductivity with packer testing and to provide rock mechanics data for the pit design, in support of a DFS study. DDH intersected the main spark pegmatite and a sub-horizontal fault zone as expected.

Zone

From (m)

To (m)

Width (m)

Li2O (%)

Cs2O (%)

Ta2O5 (ppm)

Nb2O5 (ppm)

SnO2 (ppm)

Rb2O (%)

Unit


Spark Main Zone

0.6

137.3

136.7

1.32

0.018

95

81

59

0.27

Pegmatite w/ minor mafics


including

24.8

33.6

8.8

1.74

0.015

134

96

42

0.30

Pegmatite


including

44.3

49.2

4.9

1.87

0.009

71

91

39

0.28

Pegmatite

PL-GDH-25-24

Collared on the SW edge of the main Spark pegmatite zone where it begins to break up into smaller pods, the hole was designed by DRA Global as part of a geomechanical-hydrogeological program to test the hydraulic conductivity with packer testing and to provide rock mechanics data for the pit design, in support of a DFS study. An unexpected 12.8m wide Aplite zone was intersected grading 1.77% Li2O.

Zone

From (m)

To (m)

Width (m)

Li2O (%)

Cs2O (%)

Ta2O5 (ppm)

Nb2O5 (ppm)

SnO2 (ppm)

Rb2O (%)

Unit


Aplite Zone

41.2

54.0

12.8

1.77

0.025

97

75

54

0.37

Aplite

DDH PL-GDH-26-24

Collared on the NW edge of the main Spark pegmatite zone, the hole was designed by DRA Global as part of a geomechanical-hydrogeological program to test the hydraulic conductivity with packer testing and to provide rock mechanics data for the pit design, in support of a DFS study. The hole intersected the northern pegmatite contact as expected and was terminated due to time constraints in an unexpected pegmatite zone to the north grading 2.12% Li2O over 26.9m. The hole will be extended at a later date.

Zone

From (m)

To (m)

Width (m)

Li2O (%)

Cs2O (%)

Ta2O5 (ppm)

Nb2O5 (ppm)

SnO2 (ppm)

Rb2O (%)

Unit


Spark Main Zone

0.3

53.5

53.2

1.24

0.018

62

91

66

0.27

Pegmatite + Aplite w/ minor mafics


including

33.4

37.9

4.5

2.28

0.010

83

118

86

0.20

Pegmatite


including

45.1

53.5

8.4

2.33

0.010

81

105

55

0.23

Pegmatite

Pegmatite Zone

116.8

121.8

5.0

0.33

0.014

685

107

1465

0.11

Pegmatite (enriched Ta + Sn)

Pegmatite Zone

222.0

248.8

26.9

2.12

0.047

266

65

252

0.70

Aplite


including

240.8

247.9

7.0

2.97

0.065

104

38

103

1.04

Aplite

DDH PL-GDH-27-24

Collared on the NE end of the main Spark pegmatite zone, the hole was designed by DRA Global as part of a geomechanical-hydrogeological program to test the hydraulic conductivity with packer testing and to provide rock mechanics data for the pit design, in support of a DFS study. The hole intersected the northern pegmatite contact as expected and an unexpected pegmatite zone to the north grading 2.23% Li2O over 49.8m with anomalous Cs up to 2.8% Cs2O over 5.9m

Zone

From (m)

To (m)

Width (m)

Li2O (%)

Cs2O (%)

Ta2O5 (ppm)

Nb2O5 (ppm)

SnO2 (ppm)

Rb2O (%)

Unit


Spark Main Zone

0.8

48.9

48.1

1.93

0.026

95

87

78

0.30

Aplite


including

17.2

22.0

4.8

2.53

0.023

60

63

67

0.27

Aplite


including

31.7

40.0

8.3

3.33

0.014

79

78

65

0.19

Aplite

Pegmatite Zone

129.7

179.5

49.8

2.23

0.613

461

57

364

0.89

Aplite


including

144.1

150.0

5.9

3.40

2.755

290

21

123

0.85

Pegmatite (enriched Li + Cs)

DDH PL-134-24

PL-134-24 was designed as a condemnation hole, stepped out 200m west of the Spark pegmatite to define planned infrastructure for the DFS study. The hole intersected 45.69m of pegmatite, extending the SW zone of the Spark pegmatite further to the west. Although Li2O values fall below cutoff, the zone is expected to continue at depth with stronger spodumene mineralization as previously indicated in DDH holes to the east. The intersection confirms that the Spark pegmatite continues to run to the west and remains open.

Zone

From (m)

To (m)

Width (m)

Li2O (%)

Cs2O (%)

Ta2O5 (ppm)

Nb2O5 (ppm)

SnO2 (ppm)

Rb2O (%)

Unit


Pegmatite Zone

18.9

45.7

26.8

0.31

0.009

78

108

56

0.39

Pegmatite-Aplite


including

25.3

28.1

2.8

2.11

0.008

59

94

56

0.22

Pegmatite














Table 2: Summary of 2024 Drilling at Spark

DDHNo

Date Drilled

UTM Zone 15N (NAD83)

Collar Orient

Metres Drilled

Start

End

Easting

Northing

(mASL)

Azim

Dip

Start

End

2024 Geotech Program

PL-GDH-24-24

02/17/2024

02/25/2024

472,759

5,829,448

351.7

128

-72

0

248.6

PL-GDH-25-24

02/27/2024

03/05/2024

472,699

5,829,432

352.0

228

-72

0

245.8

PL-GDH-26-24

03/06/2024

03/11/2024

472,692

5,829,527

355.0

323

-72

0

248.8

PL-GDH-27-24

03/11/2024

03/17/2024

472,763

5,829,539

360.0

019

-70

0

248.8

PL-134-24

03/19/2024

03/21/2024

472,272

5,829,220

329.0

001

-46

0

205.5

Total metres drilled

1197.5

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 - Standards of Disclosure for Mineral Projects. Under Frontier's QA/QC procedures, all drilling was completed by Chenier Drilling Ltd. of Val Caron, Ontario using NQ drill rods for the geotechnical drill holes; thin walled BTW drill rods (4.2 cm core diameter) for all other holes 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. A Reflex GYRO Sprint-IQ survey instrument was used every 50m downhole and again at the end of each hole when rods were pulled out. A Reflex North Finder APS unit was utilized to complete accurate positioning and orientation of the drill collar upon setup. 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 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 AGAT Laboratories Ltd. (AGAT) in Thunder Bay, Ontario for sample preparation and to Calgary, Alberta for processing and quantitative multi-element analysis. AGAT is an ISO accredited laboratory. The core is stored on site at the Company's Knox exploration camp.

About Frontier Lithium

Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is a preproduction business with an objective to become an integrated 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's sole project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

About the PAK Lithium Project

The PAK lithium project contains North America's highest-grade lithium resource and is the second largest in North America by size. 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 2023 Pre-Feasibility Study "National Instrument 43-101 Technical Report PFS PAK Lithium Project" by BBA E&C Inc., delivered a 24- year project life, delivering a post-tax NPV(8%) of US$1.74 billion and IRR of 24.1% as per the press release disseminated on May 31, 2023, and was filed on Sedar.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the prospectivity of the Company's mineral properties, the mineralization and development of the Company's mineral properties, the Company's exploration program and other mining projects and prospects thereof. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Readers are cautioned that any such forward-looking 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, please review the Company's public filings available on SEDAR+ at www.sedarplus.com.

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 news release.

Frontier Lithium Logo (CNW Group/Frontier Lithium Inc.)

SOURCE Frontier Lithium Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/13/c0444.html

Investment Disclosure



The content provided on this website and in Mine$tockers episodes is for informational purposes only and should not be considered as an offer, solicitation, recommendation, or determination by Mine$tockers Inc. for the sale of any financial product or service or the suitability of an investment strategy for any investor.

Investors are advised to consult a financial professional to determine the appropriateness of an investment strategy based on their objectives, financial situation, investment horizon, and individual needs. This information is not intended to serve as financial, tax, legal, accounting, or other professional advice, as such advice should always be tailored to individual circumstances.

The products discussed herein are not insured by any government agency and carry risks, including the potential loss of the principal amount invested. Any information provided is based on both internal and external sources and should not be construed as an endorsement or conclusion regarding a company's financial prospects, resources, or management. Opinions expressed may change and should not be relied upon. It is crucial to seek personalized investment advice for your unique situation.

Natural resources investments are generally volatile, with higher headline risk than other sectors. They tend to be more sensitive to economic data, political and regulatory events, and underlying commodity prices. The prices of natural resources investments are influenced by factors such as the costs of underlying commodities like oil, gas, metals, and coal. These investments may trade on various exchanges and experience price fluctuations due to short-term demand, supply, and investment flows.

Natural resource investments often respond more sensitively to global events and economic data, including natural disasters, political turmoil, pandemics, or the release of employment data.

Investing in foreign markets may carry greater risks than domestic markets, including political, currency, economic, and market risks. It is essential to evaluate if trading in low-priced and international securities is appropriate for your circumstances and financial resources. Past performance does not guarantee future results.

Mine$tockers Inc., its affiliates, family, friends, employees, associates, and others may hold positions in the securities it covers. Some of the companies covered may be paying clients of the production.

No investment process is risk-free, and profitability is not guaranteed; investors may lose their entire investment. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment. Diversification does not ensure a profit or protect against loss. Investing in foreign securities involves risks not associated with domestic investments, such as currency fluctuations, political and economic instability, and differing accounting standards, potentially leading to greater share price volatility. The prices of small- and mid-cap company stocks generally experience higher volatility than large-company stocks and may involve higher risks. Smaller companies may lack the management expertise, financial resources, product diversification, and competitive strengths needed to withstand adverse economic conditions.

logo

Studio


Toronto Ontario Canada

Email


info@MineStockers.com

Phone


+1 (905) 967-2519