Frontier Lithium drills 1.79% Li2O over 330.7 metres at PAK, Ontario

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Frontier Lithium Inc. [FL-TSXV; LITOF-OTCQX; HL2-FSE] reported results for five additional drill holes completed during the phase 12 drill program on the Spark pegmatite which began in May, 2022, and is currently in progress. The initial drill holes were designed to convert 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 165 km north of Red Lake, northwestern Ontario.

Phase XII delineation and infill drilling with two drill rigs is currently being conducted where the company has completed 11,150 metres of drilling in 34 holes as of September 11, 2022. Analysis from 5 of the holes have been received and reported here.

DDH PL-062-22 Intersected a total of 180.8 metres of pegmatite averaging 1.55% Li2O with thin sheets of mafic rafts within the pegmatite as expected. Collared north of the Spark Pegmatite in mafic volcanic, hole was drilled to convert inferred material at depth and to provide a northern contact of the Spark Pegmatite. Hole was terminated in pegmatite due to time constraints and will extended later in the program.

Includes 16.9 metres from 178.0 to 194.9 metres of 2.19% Li2O

DDH PL-066-22 intersected 338.0 metres of continuous pegmatite averaging 1.79% Li2O. Collared in pegmatite on the southern end of the Spark orebody, the hole was drilled to convert inferred material at depth.

Includes 14m zone from 89.0 to 103.0m of 2.73% Li2O

Includes 14m zone from 159.0 to 173.0m of 2.58% Li2O

Includes 24m zone from 191.0 to 215.0m of 2.52% Li2O

DDH PL-070-22, PL-071-22 and PL-073-22 were collared proximal to each other and fanned out to test both the northern upper and southern lower contacts with the mafic host rock. As expected, they intersected diminishing proportions of pegmatite from west to east with an increase in mafic rafts towards the east.

PL-070-22 intersected a total of 181.1m of pegmatite averaging 1.53% Li2O. PL-071-22 intersected a total of 107.7m of pegmatite averaging 1.40% Li2O. Includes 5.4m from 242.6 to 248.0m averaging 663 ppm Ta2O5 and 1.3% Li2O.

PL-073-22 intersected a total of 124.5m of pegmatite averaging 1.38% Li2O. Includes 16.0m from 92.2 to 108.1 averaging 521 ppm Ta2O5 and 1.02% Li2O.

“We are extremely pleased with the drilling results to date,” stated Garth Drever, V.P. Exploration. “The infill-drilling continues to be predictable, the pegmatite remains open in all directions and zones of elevated tantalum and cesium along with lithium are being delineated.”

The initial objective for the Phase XII drill program was to focus on converting the inferred resource within the central portion of the Spark deposit at depth. DDH’s PL-062-22 was terminated in pegmatite and PL-066-22 was ended in mafic volcanics due to PFS time constraints requiring quick turn-around of analysis. With one month of drilling remaining in the current program, Frontier will focus on defining the limits of the pegmatite and deepening many of the initial holes that had been terminated earlier in the program.

The PAK Lithium Project is one of the highest quality known lithium mineral resource in North America due to its high-grade and low impurity properties in the pegmatite ore material and the spodumene mineral. The company published a Preliminary Economic Assessment (PEA) in April 2021 that indicated an after-tax Net Present Value at an 8% discount rate of US $974 million and a 21% after-tax Internal Rate of Return through a fully-integrated lithium operation utilizing spodumene concentrate generated from the PAK Lithium Project to achieve downstream conversion for production of battery-quality lithium chemicals and concentrate for the glass and glass-ceramics market.

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 new premium lithium mineral district located in Ontario’s Great Lakes region.

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