Canada NewsWire

SUDBURY, ON , Sept. 7, 2023 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company"), one of Ontario's leading lithium exploration companies, is pleased to announce results on the remaining holes drilled and recent channels cut on the Bolt pegmatite, concluding the 2023 maiden drill program. Located between the Spark and PAK spodumene-bearing lithium deposits, the Bolt pegmatite had only been mapped and channeled on surface exposures up until this year.

• DDH PL-122-23 extends the pegmatite zone down to a depth of 220 metres ("m") with a true width of up to 65m , intersecting 86.5m of continuous pegmatite averaging 0.92% Li 2 O.
• Including 7.0m from 229.5 to 236.5m averaging 1.27% Li 2 O
• Including 10.0m from 243.1 to 253.1m averaging 1.40% Li 2 O
• Including 26.1m from 273.5 to 299.6m averaging 1.39% Li 2 O
• DDH PL-113-23 intersects two pegmatite zones 14.8m and 22.1m wide, averaging 1.38% and 1.39% Li 2 O, respectively.
• Including 7.6m from 98.0 to 105.5m averaging 2.09% Li 2 O
• Including 11.4m from 216.8 to 228.2m averaging 2.17% Li 2 O
• DDH PL-115-23 intersects 21.6m of continuous pegmatite averaging 1.94% Li 2 O
• Including 6.3m from 126.0 to 132.3m averaging 2.50% Li 2 O
• Including 5.6m from 133.8 to 139.5m averaging 2.32% Li 2 O

"We're pleased with the results of our maiden drill program on the Bolt Pegmatite," says Garth Drever , VP Exploration of the Company. "Early assessments and consistent distribution of mineralized pegmatite are promising, and continuity remains strong at depth, with a notable central zone."

Drilling has confirmed that the Bolt pegmatite extends over 600m along strike, with horizontal widths of up to 75m , and remains completely open at depth.  The pegmatite appears to have a wide central zone that extends at depth and begins to break up along the strike zone into pods of variable thickness separated by the mafic volcanic and metasedimentary host rock.  As previously reported, PL-106-22, PL-107-22, and PL-108-22 suggest the continuity between the Bolt pegmatite and the Spark deposit located 200m to the northwest is in question.  That continuity is however undetermined and will require additional drilling as there may still be a connection between the pegmatites further at depth.

Figure 1 is a plan-view map highlighting the Bolt area showing locations of the 2023 Phase XIII drilling and includes the Bolt outcrop exposures. Drillhole traces displaying major lithological features for all holes and surface channels plus lithium assay results that have been released.

During the summer drill program, outcrop channeling and sampling was completed at various locations across the PAK property including five more channels at Bolt as shown on Figure 1.

Table 1 details the drill holes and Channels with mineralized intersections at Bolt while Tables 2 and 3 respectively summarize all drill holes completed at Bolt and Spark and the channels completed at Bolt in 2023. Information regarding the condemnation drilling and the hydrogeological-geomechanical drilling completed was previously disclosed on August 10,2023 .

Table 1:  Summary of Drill Hole and Channel Intersections

Table 2: Summary of 2023 Drilling at Bolt and Spark

The Company would like to clarify and correct certain disclosure provided in the Company's press release disseminated on July 28, 2023 (" July 28 Press Release "). In the July 28 Press Release, the Company disclosed that the comparative financial figures in the 2023 annual financial statements of the Company had been restated and that these restated comparative figures replaced and superseded corresponding information contained in previously filed financial statements and management's discussion and analysis of the Company, but this statement is incorrect and was accidentally included in the July 28 Press Release. As a correction and for clarity for the Company – no such restatement of comparative financial figures was necessary and/or required and the originally stated and applicable comparatives figures previously provided are to be relied upon.

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 - Standards of Disclosure for Mineral Projects .  Under Frontier's QA/QC procedures, all drilling was completed by Chenier Drilling Ltd. of Val Caron, Ontario 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, Ontario by float plane and then shipped to AGAT Laboratories Ltd. (AGAT) in Thunder Bay, Ontario 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 Company's Pakeagama Lake exploration camp.

Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is a preproduction business with an objective to become an integrated 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's sole project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

The PAK lithium project contains North America's highest-grade lithium resource and is the second largest in North America by size. 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 2023 Pre-Feasibility Study "National Instrument 43-101 Technical Report PFS PAK Lithium Project" by BBA E&C Inc., delivered a 24- year project life, delivering a post-tax NPV(8%) of US$1.74 billion and IRR of 24.1% as per the press release disseminated on May 31, 2023 , and was filed on Sedar.com.

This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the prospectivity of the Company's mineral properties, the mineralization and development of the Company's mineral properties, the Company's exploration program and other mining projects and prospects thereof. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Readers are cautioned that any such forward-looking 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, please review the Company's public filings available on SEDAR+ at  www.sedarplus.com.

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 news release.

SOURCE Frontier Lithium Inc.