SUDBURY, ON, Sept. 25, 2023 /CNW/ – Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) (“Frontier” or “the Firm”), one in all Ontario’s main lithium exploration firms, is happy to announce outcomes from the 4 holes drilled on the Spark pegmatite in 2023, along with channel sampling outcomes on what could also be a possible western extension of the Spark deposit, located 1 km away.
- DDH PL-133-23 extends a high-grade NW zone of the Spark pegmatite 90 metres (“m”) west, intersecting 108.4m of steady pegmatite averaging 2.12% Li2O.
- Together with 7.6m from 408.9 to 416.5m averaging 3.58% Li2O
- Together with 6.1m from 482.5 to 488.5m averaging 3.16% Li2O
- Together with 4.2m from 498.0 to 502.2m averaging 3.36% Li2O
- DDH PL-100-23 intersects 134.3m of steady pegmatite, averaging 1.27% Li2O.
- Together with 16.6m from 65.8 to 82.4m averaging 2.09% Li2O
- Together with 49.2m from 96.3 to 145.5m averaging 2.25% Li2O
- Channel samples CH-52 and CH-53 situated on an outcrop 1 km west alongside strike of the Spark deposit returned a mixed 18.0m of pegmatite averaging 2.16% Li2O
- Together with 6m averaging 3.27% Li2O
“The newest findings constantly point out the potential for increasing the Spark useful resource each at better depths and alongside the geological strike.” says Garth Drever, VP Exploration of the Firm. “We’re enthusiastic about delving deeper into the newly found Spark Extension, which has yielded high-grade channel pattern values. Though its early stage, there are robust similarities with the high-grade intersection in gap PL-133-23 and the Spark extension channels. Exploring potential connection to the first Spark deposit is one in all our goals for 2024.”
In the course of the spring season, PL-100-23, PL-101-23, and PL-102-23 have been drilled on the SW pod of the principle Spark pegmatite with the target of upgrading materials close to floor to the indicated class. The outcomes counsel that the pod primarily consists of aplite with various lithium grade all through. Sadly, drilling of PL-102-23 needed to be halted because it approached the higher-grade zone resulting from warming climate situations. There are plans to renew drilling on this gap throughout the upcoming winter season.
Moreover, PL-133-23 was stepped out 90m to intersect the Spark pegmatite at better depth, confirming a steep NW plunge and increasing the high-grade lithium zone. This zone with elevated assay values give hope that it might be approaching a extra advanced part of the pegmatite representing the next stage of fractionation and the potential for a tier 1 technical grade zone just like the PAK deposit.
Determine 1 is a plan-view map highlighting the Spark deposit and close by Spark Extension to the west. Drillhole traces are displaying main lithological options for all holes and floor channels plus lithium assay outcomes which were launched. Determine 2 is a 3D rendering from the Pre-Feasibility Research Spark mannequin with transparency exhibiting drill gap traces and particulars on the 4 holes being reported.
Desk 1 particulars the drill holes and channels with mineralized intersections from the Spark space whereas Tables 2 and three respectively summarize all drill holes accomplished at Bolt and Spark and the channels accomplished on the Spark Extension in 2023.
The Firm additionally broadcasts that pursuant to its Inventory Possibility Plan, which was permitted by shareholders on the Firm’s annual normal assembly of shareholders on September 13, 2023, 422,500 inventory choices have been granted to sure workers, officers, administrators, and strategic advisors of the Firm. The choices are set for a interval of 5 years, expiring on September 25, 2028, have an train worth of $1.10, and are topic to regulatory and TSX Enterprise Alternate approval.
All scientific and technical data on this launch has been reviewed and permitted by Garth Drever, P.Geo., the certified particular person (“QP”) below the definitions established by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives. Underneath Frontier’s QA/QC procedures, all drilling was accomplished by Chenier Drilling Ltd. of Val Caron, Ontario utilizing skinny walled BTW drill rods (4.2 cm core diameter) and a Reflex ACT III oriented core system. Utilizing the Reflex system, the drill core was oriented and marked because it was retrieved on the drill. A Reflex GYRO Dash-IQ survey instrument was used each 50m downhole and once more on the finish of every gap when rods have been pulled out. A Reflex North Finder APS unit was utilized to finish correct positioning and orientation of the drill collar upon setup. The core was boxed and delivered to the Frontier core shack the place it was examined, geologically logged, and marked for sampling. The core was photographed previous to sampling. Utilizing a rock noticed, the marked pattern intervals have been halved with one-half bagged for evaluation. Pattern blanks together with lithium, rubidium and cesium licensed reference materials was routinely inserted into the pattern stream in accordance with business really useful practices. Area duplicate samples have been additionally taken in accordance with business really useful practices. The samples have been positioned in poly pattern luggage and transported to Purple Lake, Ontario by float airplane after which shipped to AGAT Laboratories Ltd. (AGAT) in Thunder Bay, Ontario for pattern preparation and to Mississauga, Ontario for processing and quantitative multi-element evaluation. AGAT is an ISO accredited laboratory. The core is saved on web site on the Firm’s Pakeagama Lake exploration camp.
Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is a preproduction enterprise with an goal to turn into an built-in strategic home provider of spodumene concentrates for industrial customers in addition to battery-grade lithium hydroxide and different chemical substances to the rising electrical car and power storage markets in North America. The Firm’s sole venture maintains the most important land place and useful resource in a premium lithium mineral district situated in Ontario’s Nice Lakes area.
The PAK lithium venture incorporates North America’s highest-grade lithium useful resource and is the second largest in North America by measurement. The venture encompasses near 27,000 hectares and stays largely unexplored; nonetheless, since 2013, the corporate has delineated two premium spodumene-bearing lithium deposits (PAK and Spark), situated 2.3 kilometres aside. Exploration is constant on the venture via two different spodumene- bearing discoveries: the Bolt pegmatite (situated between the PAK and Spark deposits), in addition to the Pennock pegmatite (25 kilometres northwest of PAK deposit inside the venture claims). A 2023 Pre-Feasibility Research “Nationwide Instrument 43-101 Technical Report PFS PAK Lithium Undertaking” by BBA E&C Inc., delivered a 24- yr venture life, delivering a post-tax NPV(8%) of US$1.74 billion and IRR of 24.1% as per the press launch disseminated on Might 31, 2023, and was filed on Sedar.com.
This press launch incorporates statements that represent “forward-statements.” Such ahead wanting statements contain recognized and unknown dangers, uncertainties and different components that will trigger the Firm’s precise outcomes, efficiency or achievements, or developments to vary materially from the anticipated outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Though the Firm believes, in gentle of the expertise of its officers and administrators, present situations and anticipated future developments and different components which were thought-about applicable that the expectations mirrored on this forward-looking data are affordable, undue reliance shouldn’t be positioned on them as a result of the Firm can provide no assurance that they’ll show to be right. When used on this press launch, the phrases “estimate”, “venture”, “perception”, “anticipate”, “intend”, “anticipate”, “plan”, “predict”, “could” or “ought to” and the unfavorable of those phrases or such variations thereon or comparable terminology are meant to establish forward-looking statements and data. The forward-looking statements and data on this press launch embody data referring to the prospectivity of the Firm’s mineral properties, the mineralization and growth of the Firm’s mineral properties, the Firm’s exploration program and different mining initiatives and prospects thereof. Such statements and data replicate the present view of the Firm. Dangers and uncertainties that will trigger precise outcomes to vary materially from these contemplated in these forward-looking statements and data. By their nature, forward-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger our precise outcomes, efficiency or achievements, or different future occasions, to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. The forward-looking data contained on this information launch represents the expectations of the Firm as of the date of this information launch and, accordingly, is topic to vary after such date. Readers mustn’t place undue significance on forward-looking data and mustn’t depend on this data as of another date. The Firm undertakes no obligation to replace these forward-looking statements within the occasion that administration’s beliefs, estimates or opinions, or different components, ought to change.
Readers are cautioned that any such forward-looking statements usually are not ensures of future efficiency and people precise outcomes or developments could differ materially from these projected within the forward-looking statements. For extra data on the Firm, please evaluate the Firm’s public filings obtainable on SEDAR+ at www.sedarplus.com.
Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this information launch.
SOURCE Frontier Lithium Inc.
For additional data: Firm Contact Data: Bora Ugurgel, Senior Supervisor, Investor Relations, 2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA, T. +001 705.897.7622, F. +001 705.897.7618