Frontier Lithium (TSXV: FL; OTC: LITOF) has released results for four drill holes completed during the Phase 12 drill program on the Spark pegmatite, part of the company's PAK lithium property located north of Red Lake, Ont.
Discovered in 2019, the Spark pegmatite deposit currently contains mineral resources of 14.4 million tonnes averaging 1.40% lithium oxide (Li2O) in the indicated category and 18.1 million tonnes averaging 1.37% Li2O in inferred.
Results from the latest four holes are as follows:
All four holes were terminated in pegmatite due to pre-feasibility time constraints requiring quick upgrading of some of the existing inferred resource. The holes will be extended later in the program.
"The exciting presence of the cesium mineral pollucite in the lithium zone intersected in DDH PL-057-22 suggests the Spark pegmatite is well evolved mineralogically, and may be approaching the degree of fractionation attained by the prolific Tanco pegmatite at Bernic Lake, Man., where high-grade pollucite zones occur," Garth Drever, VP exploration of Frontier Lithium, commented. "High fractionation could result in furthering the potential by-products beyond lithium and tantalum. During the remainder of the Phase 12 drilling, we intend to investigate this new pegmatite zone to the north and west with significant lithium, cesium, tantalum and rubidium content."
Currently, the company has two drill rigs completing infill and delineation drilling defining the eastern part of the deposit and defining the western extensions.
The Spark pegmatite is one of the two premium spodumene-bearing deposits Frontier has delineated on the PAK project. The other, the PAK deposit, which is located 2.3 km away, has a mineral resource in measured, indicated and inferred categories of 9.3 million averaging 2.06% Li2O.
Last year, the company produced a preliminary economic assessment of the PAK project that examined a fully integrated lithium operation. The project was given an after-tax net present value (with an 8% discount) of US$974 million and an internal rate of return of 21%.
Learn more about the PAK project in Ontario at www.FrontierLithium.com.
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