Frontier Lithium Inc Releases Drill program Results on the Spark Pegmatite Site

Frontier Lithium Inc  released the results for the remaining seven drill holes completed during Phase XII drill program on the Spark pegmatite site which began in May, 2022 with two diamond drill rigs and finished in October of 2022.

The main objective of the program was focused on converting inferred material to the indicated category for the planned open pit.  The Spark pegmatite is one of the two delineated premium spodumene-bearing lithium deposits on the PAK Lithium Project.

"Now that all the results have been received and processed, we can say that our goal of upgrading Inferred has been achieved and the Spark pegmatite continues to increase in size particularly with the intersections in holes PL-098-22 and PL-099-22. These two holes, which are 140m apart, have confirmed that the new northwest zone discovered in February 2022 is connected to the main zone and contains significant high-grade zones of 2 to 3% Li2O." states Garth Drever, VP Exploration. "This zone will certainly be explored during the 2023 drill program at Spark."

Highlights

The Company completed 15,984m of drilling in 50 holes in 2022. Highlights from the seven Phase XII diamond drill holes reported are included below.

•DDH PL-094-22 was designed to define the western extent of the Spark pegmatite and to target the recently discovered NW Spark zone. This hole was the first indication that the NW zone was connected to the main Spark pegmatite at depth, intersecting 125.9m of pegmatite averaging 1.51% Li2O; Including 12.0m from 181.5 to 193.5m averaging 2.08% Li2O ;Including 9.8m from 228.7 to 238.5m averaging 2.94% Li2O; Including 8.0m from 246.5 to 254.5m averaging 2.95% Li2O; Including 8.0m from 270.5 to 278.5m averaging 2.32% Li2O

•DDH PL-098-22 hole was designed to follow up on the results from PL-094-22 and confirmed that the NW zone is in fact connected to the main Spark ore body at depth, intersecting 398.25m of pegmatite averaging 1.88% Li2O; Including 18.0m from 20.5 to 38.5m averaging 2.48% Li2O; Including 23.4m from 244.0 to 267.4m averaging 3.12% Li2O; Including 16.0m from 282.0 to 298.0m averaging 2.70% Li2O; Including 38.0m from 390.0 to 428.0m averaging 2.65% Li2O

•DDH PL-099-22 hole was designed to follow up on the results from PL-098-22, intersecting 243m of pegmatite averaging 1.58% Li2O, extending the NW zone further to the west;Including 9.0m from 122.3 to 131.3m av eraging 2.47% Li2O; Including 7.5m from 256.7 to 264.2m averaging 3.02% Li2O; Including 31.5m from 338.0 to 369.5m averaging 2.03% Li2O; Including 6.0m from 430.0 to 436m averaging 3.25% Li2O

The initial objective for the Phase XII drill program was focused on converting the inferred resource within the Spark deposit to the indicated category in preparation for a pre-feasibility study (PFS) on the PAK Lithium Project.  The latter half of the program included geotechnical drilling for ground control and pit design purposes as well as step out drilling to define the eastern and western extents of the ore body.

Stock Options Announced
The Frontier also announced it has granted 500,000 stock options under the New Stock Option Plan. The Options have been issued to certain directors, officers, or employees of the Company. The Options are exercisable at a price of $ $2.73 per common share and will have a term of 5 years from the date of issuance. 50% of these Options vest on the grant date, and the remaining 50% vest on the date that is the first anniversary date of the grant date. These Options are subject to approval by the TSXV.

About Frontier Lithium
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 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.

For more 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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