Frontier Lithium announces Phase VI Diamond Drill Program on the PAK Lithium Project in Northwestern Ontario
Sudbury - Frontier Lithium Inc. (TSXV: FL) (“Frontier” or “the Company”) is pleased to announce the commencement of diamond drilling on the PAK Lithium Project, located in the Red Lake area of Ontario. The Phase VI diamond drill program is follow-up to the Canadian National Instrument (N.I.) 43-101 Pre-Feasibility Study (PFS) news release that was disseminated March 2, 2018. The Phase VI Drill Program (“the Program”) is designed to test the depth extent of the deposit under the PFS open pit design and to possibly upgrade some of the resource from Inferred to the Indicated and Measured categories. The results of the Program will be used to finalize open pit design for the purpose of Final Feasibility and to test the cohesive nature of the mineralization with depth and to reinforce that both width and lithium grades increase with depth. The Program is expected to commence mid-June and will consist of 3 to 6 diamond drill holes totalling up to 2,000m.
About Frontier Lithium Inc.
Frontier’s goal is to become a low-cost, fully integrated lithium 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. The deposit boasts its lithium in a rare, high-purity, low-iron spodumene whereby Frontier has successfully produced concentrates meeting both chemical grade spodumene and technical grade specifications. The initial target market is the glass-ceramic industry which consumes roughly one-quarter 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 inferior lower grade petalite concentrates, or paying much higher prices for battery grade lithium compounds.
The PAK lithium deposit remains open in all directions and Company Management is working towards developing a viable operation. The Company has recently completed a positive pre-feasibility study (PFS) which assessed the economic viability and technical feasibility of producing premium lithium concentrates. As a result of the PFS Frontier’s goal is to first establish a viable technical grade spodumene concentrate operation with a by-product of chemical grade concentrate. A possible second stage of investment and longer-term prospect is to further process a combination of 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 host 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 Company’s positive PFS release earlier this year highlights Frontier Lithium’s ability to become a high margin, low cost producer of a unique premium low-iron spodumene concentrate which is in very high demand by the global lithium market. Other highlights include a Life of Mine Revenue of $1,859 Million and a 11.5 year open pit operation, 4.5 year underground operation. The PAK deposit has a current Measured and Indicated Resource of 8.5 million tonnes of 1.78% Li2O and an Inferred Lithium Resource of 1.9 million tonnes of 2.01% Li2O which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3).
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.
To view the original release, please click here
Source: Frontier Lithium Inc. (TSX Venture:FL, OTC Bulletin Board:HLKMF, FWB:HL2)