Frontier Lithium Announces New Board of Director Appointment
Sudbury, Ontario (FSCwire) - Frontier Lithium Inc. (TSX.V: FL) (the “Company”) announces the appointment of Mr. John R. Didone as the newest director to join the Frontier Lithium Inc. Board of Directors.
“The Board is delighted with their appointment of Mr. Didone,” comments Trevor Walker, President and CEO of Frontier Lithium. “John brings a certain business acumen and discipline that complements the leadership guiding our company. We are poised for significant growth and our Board is positively levelled with industry and business experts like Mr. Didone to help steward our success.”
In addition to serving on Frontier Lithium’s Board of Directors, Mr. Didone is Partner at SRWC LLP, Chartered Professional Accountants based out of Sudbury, Canada. He has been with the firm since 1980 and over this time has gained considerable insight of business affairs, in particular his demonstrated experience offering professional advice on the expansion of national companies. “Mr. Didone is in touch with the Frontier's strategic goals, our staged growth strategy and he has experience working with mining and construction sectors”, remarks Mr. Trevor Walker. Mr. Didone graduated from Laurentian University’s Commerce program earning an H.B.Com. He currently maintains designations and/or certifications as a CPA, CA, CMA, and LPA.
The Company would also like to acknowledge the transition of Mr. Bob Maclean from the Board of the Directors to the Company’s expert Advisory Board so the company can continue to rely on his health and safety and underground mining experience. “Frontier would like to thank Mr. Bob MacLean for his dedication to the Board and welcomes his commitment to remain on the Advisory Board,” stated Reginald (Rick) Walker, Chairman of the Board.
The Company also announces that it has granted incentive stock options totalling 933,333 shares to consultant(s). The options are set for a period of five years, expiring on November 9, 2022. The options are priced at $0.50 and are subject to regulatory approval.
About Frontier Lithium Inc.
Frontier’s goal is to become a low-cost, fully integrated lithium and tantalum producer through development of the PAK lithium deposit in Ontario, Canada. Frontier maintains a tight share structure with management ownership exceeding 30% of the Company. CAD $6 million of exploration work has been conducted from 2013 to 2017 on the deposit which boasts its lithium in a rare, high-purity, low-iron spodumene. The initial target market is the glass-ceramic industry which consumes roughly one-third of global lithium supply and is currently faced with monopolistic conditions, coupled with major lithium producers increasingly directing output toward supporting battery manufacture.
Ceramic/glass customers prefer to source technical-grade (low-iron) spodumene concentrate in excess of 7% lithium oxide (Li2O), if available, to avoid lower grade petalite concentrates, or paying much higher prices for battery grade lithium compounds. The Company's October 2017 Metallurgical Study returned favourable results by producing lithium concentrate with a grade of 7.13% lithium oxide (Li2O) with a corresponding Li2O recovery of 79.4% which satisfies the preference from technical-grade consumers.
The PAK lithium deposit remains open in all directions and Company Management is working towards developing a viable operation. The Company is currently conducting a pre-feasibility study to assess the economic viability and technical feasibility of producing lithium concentrates. Frontier’s goal is to first establish a viable technical grade spodumene concentrate operation. A possible second stage of investment and longer term prospect is to further process some of PAK’s output to produce the higher purity lithium compounds required for lithium battery technologies used in the electrification of transportation and electric grid storage applications.
About the PAK Lithium Project
The PAK Lithium Project lies close to the boundary between two geological sub-provinces of the western Superior geologic province in northwestern Ontario and hosts a rare metals pegmatite deposit. The deposit is an LCT (lithium- cesium- tantalum) type pegmatite. These types of pegmatites have been the principal source of hard rock lithium, tantalum, rubidium and cesium ores mined in the world but there are comparatively few commercially-viable deposits.
Frontier is actively exploring its 100% owned project which contains the Pakeagama Lake pegmatite. The PAK deposit has a current Measured and Indicated Resource of 7.89 million tonnes of 1.73% Li2O equivalent (eq.) or 1.58% Li20 and 104 ppm Ta2O5 and an Inferred Resource of 295,600 tonnes of 1.35% Li2O eq. or 1.20% Li2O and 103 ppm Ta2O5 which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3). The deposit has adjacent zones that are enriched in tantalum and rubidium.
The deposit now has a known 500m strike length with an estimated true width varying from 10m to 125m with a sub-vertical orientation. The resource remains open to depth and along strike to the northwest and southeast.
Company Contact Information
Trevor R. Walker
President & CEO
2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
Media Requests
Joseph Mansourian
Manager, Investor Relations
2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA
T. +001 705.618.0070
F. +001 705.897.7618
Additional information regarding Frontier Lithium is available on SEDAR at www.sedar.com under the Company's profile and on its website at www.frontierlithium.com, including various pictures of ongoing work at the project.
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.
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To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/FrontierLithium11092017.pdf
Source: Frontier Lithium Inc. (TSX Venture:FL, OTC Bulletin Board:HLKMF, FWB:HL2)
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