SUDBURY, ON, Feb. 8, 2023 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company") is pleased to announce the results for the remaining seven drill holes completed during Phase XII drill program on the Spark pegmatite which began in May 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."
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.
Figure 1 is a location map showing the project area including Frontier's land tenure and location of the three lithium-cesium-tantalum pegmatites. 
Figure 2 is a plan view showing all drilling with analytical data completed with emphasis on drill hole traces reported in this release.
Table 1 details the drill holes and channel with mineralized intersections while Table 2 summarizes all Phase XII drill holes completed.
Table 1: Details of Mineralized Intersections
DDH PL-092-22 | Collared in the same location as PL-089-22, the hole was drilled in the opposite direction to the south, designed to define the eastern end of the main Spark pegmatite at depth before it begins to break up into smaller pods towards the east. A total of 198m of pegmatite was intersected. | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 0.0 | 35.8 | 35.8 | 1.43 | 0.03 | 156 | 127 | 54 | 0.24 | Pegmatite-Aplite | ||
including | 9.8 | 22.0 | 12.2 | 2.08 | 0.02 | 67 | 65 | 46 | 0.24 | Pegmatite | ||
Li-Enriched | 58.3 | 228.5 | 170.3 | 1.36 | 0.01 | 62 | 87 | 49 | 0.24 | Aplite w/ minor mafics rafts | ||
including | 85.0 | 105.0 | 20.0 | 1.85 | 0.01 | 76 | 96 | 40 | 0.30 | Aplite | ||
including | 127.0 | 133.0 | 6.0 | 2.01 | 0.01 | 68 | 91 | 40 | 0.26 | Aplite | ||
DDH PL-093-22 | Collared 30m north of PL-055-22 and 60m west of PL-091-22, the hole was stepped out to define the western extent of the Spark pegmatite where it breaks up into smaller pods separated by mafic rafts. A total of 79m of pegmatite was intersected. | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 59.0 | 81.4 | 22.4 | 1.84 | 0.01 | 41 | 70 | 36 | 0.29 | Pegmatite-Aplite | ||
including | 73.0 | 79.0 | 6.0 | 2.87 | 0.01 | 33 | 54 | 23 | 0.21 | Pegmatite | ||
Li-Enriched | 91.8 | 159.0 | 67.2 | 1.78 | 0.07 | 149 | 58 | 88 | 0.40 | Pegmatite-Aplite w/minor mafic | ||
including | 113.5 | 121.5 | 8.0 | 3.27 | 0.02 | 245 | 86 | 48 | 0.27 | Aplite | ||
including | 130.2 | 159.0 | 28.8 | 2.66 | 0.05 | 218 | 57 | 121 | 0.54 | Pegmatite | ||
DDH PL-094-22 | Collared 8m west of PL-091-22, hole was designed to define the western extent of the Spark pegmatite where it begins to break up into smaller pods separated by mafic rafts and was also extended to target the recently discovered NW Spark zone. This hole was the first indication that the NW zone (PL-056-22 discovery hole) was connected to the main Spark pegmatite at depth. A total of 135m of pegmatite was intersected. | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 43.4 | 49.5 | 6.1 | 1.59 | 0.00 | 62 | 55 | 27 | 0.17 | Pegmatite w/ minor mafic rafts | ||
Li-Enriched | 56.2 | 60.5 | 4.3 | 2.46 | 0.01 | 46 | 49 | 55 | 0.19 | Pegmatite w/ minor mafic rafts | ||
Li-Enriched | 68.0 | 72.8 | 4.8 | 1.64 | 0.01 | 49 | 28 | 44 | 0.39 | Pegmatite w/ minor mafic rafts | ||
Li-Enriched | 145.6 | 159.0 | 13.5 | 1.89 | 0.08 | 83 | 19 | 43 | 0.18 | Pegmatite w/ minor mafic rafts | ||
including | 150.0 | 154.5 | 4.5 | 3.62 | 0.00 | 120 | 17 | 43 | 0.05 | Pegmatite | ||
Li-Enriched | 177.4 | 303.3 | 125.9 | 1.51 | 0.04 | 86 | 52 | 66 | 0.33 | Pegmatite-Aplite w/ minor mafic | ||
including | 181.5 | 193.5 | 12.0 | 2.08 | 0.05 | 126 | 64 | 73 | 0.58 | Pegmatite-Aplite | ||
including | 228.7 | 238.5 | 9.8 | 2.94 | 0.02 | 65 | 32 | 38 | 0.22 | Pegmatite-Aplite | ||
including | 246.5 | 254.5 | 8.0 | 2.95 | 0.05 | 73 | 33 | 26 | 0.59 | Pegmatite-Aplite | ||
including | 270.5 | 278.5 | 8.0 | 2.32 | 0.01 | 64 | 78 | 56 | 0.21 | Pegmatite-Aplite | ||
DDH PL-095-22 | Collared 10m SW of PL-068-22, hole was designed to further define a mafic raft that splits the Spark pegmatite on the east end of the main body. A total of 127m of pegmatite was intersected. | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 0.0 | 49.1 | 49.1 | 1.67 | 0.02 | 83 | 90 | 51 | 0.25 | Pegmatite-Aplite | ||
including | 6.0 | 14.0 | 8.0 | 2.17 | 0.02 | 85 | 66 | 27 | 0.22 | Pegmatite-Aplite | ||
including | 20.0 | 30.0 | 10.0 | 2.08 | 0.03 | 75 | 78 | 73 | 0.24 | Pegmatite-Aplite | ||
Li-Enriched | 79.0 | 89.5 | 10.5 | 1.94 | 0.01 | 116 | 70 | 46 | 0.27 | Pegmatite-Aplite | ||
Li-Enriched | 131.6 | 155.0 | 23.4 | 1.41 | 0.01 | 67 | 67 | 47 | 0.19 | Aplite with minor mafics | ||
Li-Enriched | 212.5 | 234.5 | 22.0 | 1.82 | 0.01 | 54 | 92 | 52 | 0.22 | Aplite | ||
including | 212.5 | 218.5 | 6.0 | 2.17 | 0.01 | 54 | 91 | 38 | 0.20 | Aplite | ||
DDH PL-096-22 | Collared 6m east of PL-043-19, hole was stepped out to the east to define the extent of the smaller pegmatite pods that break up, separated by mafic rafts. Results show that there is still mineable pegmatite to the east as we move away from the main Spark ore body. A total of 106m of pegmatite was intersected. | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 80.2 | 86.9 | 6.7 | 1.67 | 0.02 | 136 | 57 | 45 | 0.19 | Pegmatite | ||
Li-Enriched | 102.0 | 108.4 | 6.4 | 1.57 | 0.02 | 140 | 89 | 138 | 0.36 | Aplite | ||
Li-Enriched | 149.9 | 197.3 | 47.5 | 1.51 | 0.02 | 116 | 55 | 100 | 0.28 | Pegmatite-Aplite w/ minor mafics | ||
including | 173.5 | 187.5 | 14.0 | 1.89 | 0.02 | 114 | 73 | 170 | 0.38 | Aplite | ||
DDH PL-098-22 | Collared south of the Spark pegmatite in between PL-090-22 and PL-067-22, hole was designed to follow up on the results of PL-056-22 that initially indicated what appeared to be a new high grade NW zone. PL-098-22 results have confirmed what was later suggested by PL-094-22, that the NW zone is in fact connected to the main Spark ore body at depth. 398.25m of pegmatite at 1.88% Li2O was intersected, including minor dilution from mafic rafts | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 14.4 | 304.8 | 290.4 | 1.87 | 0.03 | 92 | 77 | 53 | 0.28 | Aplite-Pegmatite w/ minor mafics | ||
including | 20.5 | 38.5 | 18.0 | 2.48 | 0.01 | 55 | 72 | 24 | 0.20 | Aplite-Pegmatite | ||
including | 56.5 | 72.5 | 16.0 | 2.43 | 0.02 | 71 | 73 | 52 | 0.29 | Aplite-Pegmatite | ||
including | 78.5 | 90.5 | 12.0 | 2.08 | 0.01 | 88 | 82 | 53 | 0.28 | Aplite-Pegmatite | ||
including | 118.5 | 128.5 | 10.0 | 2.22 | 0.01 | 68 | 89 | 28 | 0.22 | Aplite-Pegmatite | ||
including | 144.5 | 186.5 | 42.0 | 2.00 | 0.03 | 123 | 88 | 54 | 0.28 | Aplite-Pegmatite | ||
including | 244.0 | 267.4 | 23.4 | 3.12 | 0.03 | 64 | 32 | 40 | 0.32 | Aplite-Pegmatite | ||
including | 282.0 | 298.0 | 16.0 | 2.70 | 0.02 | 153 | 87 | 62 | 0.31 | Aplite-Pegmatite | ||
Li-Enriched | 342.2 | 450.1 | 107.9 | 1.92 | 0.07 | 192 | 69 | 223 | 0.48 | Aplite-Pegmatite w/ minor mafics | ||
including | 344.0 | 350.0 | 6.0 | 2.52 | 0.06 | 234 | 67 | 249 | 0.42 | Aplite-Pegmatite | ||
including | 370.0 | 376.0 | 6.0 | 2.41 | 0.08 | 309 | 59 | 143 | 0.53 | Aplite-Pegmatite | ||
including | 390.0 | 428.0 | 38.0 | 2.65 | 0.08 | 123 | 53 | 139 | 0.53 | Aplite-Pegmatite | ||
DDH PL-099-22 | Collared 85m NW of PL-056-22, hole was designed to follow up results from PL-056, PL-094, and PL-098 whereby the NW zone has been connected to the main ore body at depth. 243m of pegmatite at 1.58% Li2O was intersected and has extended the zone at depth further to the west. | |||||||||||
Zone | From (m) | To (m) | Width (m) | Li2O (%) | Cs2O (%) | Ta2O5 (ppm) | Nb2O5 (ppm) | SnO2 (ppm) | Rb2O (%) | Unit | ||
Li-Enriched | 106.6 | 150.3 | 43.7 | 1.54 | 0.07 | 126 | 34 | 98 | 0.58 | Pegmatite w/ minor mafics | ||
including | 122.3 | 131.3 | 9.0 | 2.47 | 0.05 | 145 | 42 | 91 | 0.51 | Pegmatite | ||
Li-Enriched | 167.5 | 211.0 | 43.5 | 1.23 | 0.07 | 198 | 56 | 317 | 0.30 | Pegmatite-Aplite | ||
including | 193.5 | 202.2 | 8.7 | 2.16 | 0.03 | 83 | 34 | 259 | 0.35 | Pegmatite | ||
Li-Enriched | 234.3 | 247.7 | 13.4 | 1.38 | 0.24 | 537 | 58 | 169 | 0.52 | Pegmatite w/ minor mafics | ||
Li-Enriched | 256.7 | 264.2 | 7.5 | 3.02 | 0.03 | 312 | 52 | 111 | 0.38 | Pegmatite | ||
Li-Enriched | 278.2 | 322.6 | 44.4 | 1.70 | 0.06 | 191 | 86 | 162 | 0.42 | Pegmatite-Aplite | ||
including | 278.2 | 286.0 | 7.8 | 2.27 | 0.05 | 313 | 61 | 123 | 0.41 | Pegmatite-aplite | ||
including | 294.0 | 309.0 | 15.0 | 2.13 | 0.06 | 110 | 67 | 149 | 0.31 | Pegmatite-aplite | ||
Li-Enriched | 338.0 | 369.5 | 31.5 | 2.03 | 0.09 | 194 | 80 | 162 | 0.63 | Pegmatite | ||
including | 358.0 | 364.0 | 6.0 | 2.68 | 0.06 | 267 | 101 | 176 | 0.40 | Pegmatite | ||
Li-Enriched | 404.7 | 463.8 | 59.1 | 1.40 | 0.14 | 226 | 94 | 155 | 0.51 | Pegmatite-aplite | ||
including | 407.0 | 413.0 | 6.0 | 2.26 | 0.07 | 161 | 72 | 99 | 0.90 | Pegmatite-aplite | ||
including | 430.0 | 436.0 | 6.0 | 3.25 | 0.03 | 58 | 26 | 41 | 0.32 | Pegmatite-aplite | ||
Table 2: Summary of Phase XII Drill Program (May to October 2022)
DDHNo | Date Drilled | UTM Zone 15N (NAD83) | Collar Orient | Metres Drilled | ||||||
Start | End | Easting | Northing | (mASL) | Azim | Dip | Start | End | ||
Phase XII | PL-057-221 | 2022-05-15 | 2022-10-01 | 472,733 | 5,829,489 | 355.9 | 359 | -55 | 0 | 225 |
PL-058-221 | 2022-05-17 | 2022-10-03 | 472,733 | 5,829,489 | 355.9 | 177 | -70 | 0 | 400 | |
PL-059-222 | 2022-05-24 | 2022-05-28 | 472,698 | 5,829,535 | 356.0 | 165 | -78 | 0 | 316 | |
PL-060-222 | 2022-05-27 | 2022-06-04 | 472,749 | 5,829,559 | 360.0 | 180 | -73 | 0 | 360 | |
PL-061-222 | 2022-05-20 | 2022-05-27 | 472,773 | 5,829,561 | 360.2 | 178 | -65 | 0 | 327 | |
PL-062-223 | 2022-05-28 | 2022-06-05 | 472,712 | 5,829,596 | 356.2 | 176 | -65 | 0 | 360 | |
PL-063-221 | 2022-06-05 | 2022-06-10 | 472,746 | 5,829,539 | 360.0 | 187 | -70 | 0 | 348.5 | |
PL-064-221 | 2022-06-05 | 2022-06-10 | 472,712 | 5,829,596 | 356.2 | 141 | -65 | 0 | 352.5 | |
PL-065-224 | 2022-06-10 | 2022-06-22 | 472,686 | 5,829,583 | 354.0 | 173 | -72 | 0 | 330.86 | |
PL-066-223 | 2022-06-12 | 2022-06-27 | 472,732 | 5,829,371 | 325.0 | 323 | -70 | 0 | 365.67 | |
PL-067-224 | 2022-06-29 | 2022-07-04 | 472,778 | 5,829,383 | 327.0 | 315 | -70 | 0 | 352.5 | |
PL-068-222 | 2022-06-22 | 2022-06-27 | 472,790 | 5,829,540 | 360.0 | 171 | -55 | 0 | 343.5 | |
PL-069-224 | 2022-07-06 | 2022-07-15 | 472,814 | 5,829,385 | 326.0 | 324 | -61 | 0 | 412.3 | |
PL-070-223 | 2022-06-28 | 2022-07-04 | 472,805 | 5,829,588 | 360.0 | 184 | -54 | 0 | 405 | |
PL-071-223 | 2022-07-04 | 2022-07-15 | 472,805 | 5,829,588 | 360.0 | 160 | -52 | 0 | 384.6 | |
PL-072-224 | 2022-07-15 | 2022-07-21 | 472,847 | 5,829,384 | 326.0 | 349 | -61 | 0 | 386.2 | |
PL-073-223 | 2022-07-16 | 2022-07-23 | 472,816 | 5,829,589 | 360.0 | 146 | -52 | 0 | 392 | |
PL-074-225 | 2022-07-28 | 2022-08-02 | 472,584 | 5,829,497 | 354.0 | 162 | -47 | 0 | 403.5 | |
PL-075-225 | 2022-08-01 | 2022-08-06 | 472,571 | 5,829,490 | 354.0 | 177 | -47 | 0 | 408 | |
PL-076-225 | 2022-07-25 | 2022-08-05 | 472,846 | 5,829,384 | 326.0 | 314 | -63 | 0 | 438 | |
PL-077-226 | 2022-08-08 | 2022-08-24 | 472,864 | 5,829,390 | 326.0 | 354 | -56 | 0 | 433.38 | |
PL-078-226 | 2022-08-25 | 2022-09-01 | 472,939 | 5,829,369 | 326.0 | 341 | -55 | 0 | 339.7 | |
PL-079-225 | 2022-08-06 | 2022-08-15 | 472,538 | 5,829,480 | 357.0 | 177 | -48 | 0 | 417 | |
PL-080-226 | 2022-08-16 | 2022-08-23 | 472,687 | 5,829,511 | 354.0 | 193 | -55 | 0 | 418.5 | |
PL-081-226 | 2022-08-24 | 2022-08-30 | 472,689 | 5,829,499 | 354.0 | 177 | -46 | 0 | 367.7 | |
PL-082-226 | 2022-08-30 | 2022-09-02 | 472,718 | 5,829,455 | 355.0 | 6 | -61 | 0 | 241.5 | |
PL-083-226 | 2022-09-02 | 2022-09-06 | 472,971 | 5,829,367 | 326.0 | 343 | -57 | 0 | 377.3 | |
PL-084-226 | 2022-09-07 | 2022-09-11 | 472,983 | 5,829,380 | 325.0 | 358 | -42 | 0 | 327 | |
PL-085-227 | 2022-09-02 | 2022-09-05 | 472,731 | 5,829,472 | 354.0 | 309 | -57 | 0 | 232 | |
PL-086-227 | 2022-09-05 | 2022-09-08 | 472,731 | 5,829,472 | 354.0 | 162 | -46 | 0 | 201 | |
PL-087-227 | 2022-09-08 | 2022-09-11 | 472,701 | 5,829,451 | 354.0 | 318 | -50 | 0 | 213.4 | |
PL-088-227 | 2022-09-11 | 2022-09-16 | 472,706 | 5,829,453 | 354.0 | 173 | -46 | 0 | 210.7 | |
PL-089-227 | 2022-09-16 | 2022-09-17 | 472,762 | 5,829,514 | 360.0 | 360 | -50 | 0 | 87 | |
PL-090-227 | 2022-09-11 | 2022-09-15 | 472,746 | 5,829,371 | 326.0 | 334 | -45 | 0 | 289.4 | |
PL-091-227 | 2022-09-15 | 2022-09-18 | 472,663 | 5,829,362 | 327.0 | 338 | -43 | 0 | 261.4 | |
PL-092-22 | 2022-09-17 | 2022-10-20 | 472,762 | 5,829,514 | 360.0 | 174 | -46 | 0 | 274.5 | |
PL-093-22 | 2022-09-20 | 2022-09-23 | 472,614 | 5,829,329 | 328.0 | 345 | -47 | 0 | 253.6 | |
PL-094-22 | 2022-09-24 | 2022-10-01 | 472,657 | 5,829,357 | 326.0 | 351 | -54 | 0 | 339 | |
PL-095-22 | 2022-09-20 | 2022-09-23 | 472,785 | 5,829,531 | 362.0 | 165 | -44 | 0 | 258.6 | |
PL-096-22 | 2022-09-23 | 2022-09-30 | 472,865 | 5,829,583 | 359.0 | 136 | -44 | 0 | 425.3 | |
PL-097-22 | 2022-10-03 | 2022-10-04 | 472,698 | 5,829,535 | 354.0 | 6 | -70 | 0 | 12.5 | |
PL-098-22 | 2022-10-01 | 2022-10-09 | 472,756 | 5,829,387 | 327.0 | 317 | -58 | 1 | 471 | |
PL-099-22 | 2022-10-09 | 2022-10-15 | 472,529 | 5,829,361 | 330.0 | 345 | -65 | 0 | 477 | |
PL-GDH-11-22 | 2022-07-22 | 2022-07-24 | 473,046 | 5,829,379 | 325.0 | 285 | -47 | 0 | 173.5 | |
PL-GDH-12-22 | 2022-07-23 | 2022-07-25 | 472,456 | 5,829,470 | 358.0 | 119 | -45 | 0 | 228 | |
Total metres drilled | 14,641.1 | |||||||||
Notes: | 1: Reported on Release July 25, 2022 | |||||||||
2: Reported on Release August 17, 2022 | ||||||||||
3: Reported on Release September 20, 2022 | ||||||||||
4: Reported on Release October 11, 2022 | ||||||||||
5: Reported on Release November 16, 2022 | ||||||||||
6: Reported on Release December 14, 2022 | ||||||||||
7: Reported on Release January 10, 2023 | ||||||||||
All scientific and technical information in this release has been reviewed and approved by Garth Drever, P.Geo., the qualified person (QP) under the definitions established by National Instrument 43-101. Under Frontier's QA/QC procedures, all drilling was completed by Chenier Drilling Ltd. of Val Caron, ON using thin walled BTW drill rods (4.2 cm core diameter) and a Reflex ACT III oriented core system. Using the Reflex system, the drill core was oriented and marked as it was retrieved at the drill. The core was boxed and delivered to the Frontier core shack where it was examined, geologically logged, and marked for sampling. The core was photographed prior to sampling. Using a rock saw, the marked sample intervals were halved with one-half bagged for analysis. Sample blanks along with lithium, rubidium and cesium certified reference material was routinely inserted into the sample stream in accordance with industry recommended practices. Field duplicate samples were also taken in accordance with industry recommended practices. The samples were placed in poly sample bags and transported to Red Lake by float plane and then shipped to AGAT Laboratories Ltd. (AGAT) in Thunder Bay for sample preparation and to Mississauga, Ontario for processing and quantitative multi-element analysis. AGAT is an ISO accredited laboratory. The core is stored on site at the Pakeagama Lake exploration camp.
Other Matters
The Company would also like to announce at this time that is has granted 500,000 stock options under the New Stock Option Plan (the "Options"). 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.
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. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings available at sedar.com.
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