Frontier Lithium Expands Resource Estimates Indicated and Inferred Categories for Spark Deposit
Based on the 2022 drilling program and channel sampling results, Frontier Lithium reported an expansion of lithium quantities at its Spark deposit at its PAK Lithium Project.
The information was used by Frontier Lithium to update the mineral resource estimate (MRE) for the Spark deposit, the second delineated premium spodumene-bearing lithium deposit at the PAK Lithium Project “Project”.
The resource estimate update for Spark deposit includes: 18.8 million tonnes averaging 1.52% Li2O in the Indicated category, a 30% increase in size; and a 29.7 million tonnes averaging 1.34% Li2O in the Inferred category, a 64% increase in size.
“We are very pleased to announce a substantive increase of the size of the Spark deposit following over 16,000m of drilling and channeling completed in 2022,” said Garth Drever, Vice President Exploration of Frontier Lithium.
“Particularly encouraging is the increased lithium grade from 1.40 to 1.52% Li2O of the indicated category of the Mineral Resource Estimate. Overall, this equates to a 27% increase in the size of the combined lithium pegmatites at the PAK Lithium Project,” Drever noted. “The grade increase together with the previously released results further support the ensuing PFS."
The Spark pegmatite, discovered in September 2018 and delineated in 2019 and 2021 with four drill programs (20 holes totaling 5,768.7m and 14 channels totaling 342.4m). During 2022 two more drill programs totaling 50 holes (15,983.6m) and 60m of channel sampling with objectives of upgrading Inferred mineral resource category to Indicated mineral resource were completed. The results from all channels and drilling have been previously reported.
Modeling was performed using Datamine Studio RM software with grades estimated using ordinary kriging (OK) interpolation methodology. Samples were composited at 2.0 metres down hole. Assessment of composites indicated no capping was required on the Li2O grades. Block grades were estimated on a multi pass basis with a minimum and maximum number of composites and maximum number of composites per drillhole required for each estimation pass. Block size is 5 metres by 5 metres (y) by 5 metres (z).
Additional information about the Mineral Resource modeling methodology will be documented in the NI 43-101 technical report (the "Technical Report") to be issued within 45 days.
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 the 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.
Company Contact Information
Bora Ugurgel
Manager, Investor Relations
2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
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