Frontier Lithium Inc. (TSX-V: FL) (OTCQX: LITOF) aims to become a fully-integrated lithium producer of battery-quality lithium chemicals in North America’s Great Lakes region from the PAK Lithium Project, which hosts Ontario’s largest and highest-grade lithium resource. The Company is pleased to announce that the Government of Ontario has agreed to contribute $363,000 towards assisting Frontier Lithium with piloting a proprietary process that seeks to overcome certain financial, technical and environmental risks identified with conventional lithium chemical processing utilized commercially outside of North America. Lithium is a critical mineral that is increasing in demand globally by the manufacturing of lithium-ion battery materials needed for rapidly growing energy storage and electric vehicle markets.
“We are investing in innovative mining and refining technology developed right here in northern Ontario,” said Greg Rickford, Minister of Energy, Northern Development and Mines. “Our government’s investment in Frontier Lithium strengthens the development of our Critical Minerals Strategy and our position to become the supplier, producer and manufacturer of choice for certain critical minerals. There’s a growing global market for reliable, responsibly sourced critical minerals, and we want Ontario to be the first jurisdiction on everybody’s mind.”
“This funding directly supports an operating mini-pilot program addressing technical and financial risks associated with the Company’s patent pending lithium extraction process aiming to generate high-purity battery grade lithium hydroxide chemicals,” said Trevor Walker, President and CEO of Frontier Lithium. “Current activities are delivering essential data for the Company’s assessment of various process and technology options to best commercialize Ontario’s largest and highest-quality lithium resource for all stakeholders.” He added, “The NOHFC and the Government of Ontario are strategically recognizing that certain Northern Ontario critical mineral resources should be leveraged to create an end-to-end approach for a viable, low carbon, local supply chain in the province.”
The funding by the Government of Ontario is being made through the Northern Innovation Program of the Northern Ontario Heritage Fund Corporation. This program is designed to support the development and commercialization of new technologies that are most likely to contribute to future prosperity in Northern Ontario.
Frontier Lithium is an emerging pure play lithium company with the largest land position in the Electric Avenue, an emerging premium lithium mineral district located in the Great Lakes region of northern Ontario. The company maintains 100% ownership in the PAK Lithium Project which contains one of North America’s highest-grade, large tonnage hard-rock lithium resources in the form of a rare low-iron spodumene. The Project has significant upside exploration potential. Frontier is a pre-production business that is targeting the manufacturing of battery quality lithium hydroxide in the Great Lakes Region to support electric vehicle and battery supply chains in North America. Frontier maintains a tight share structure with management ownership approximately 25% of the Company.
About PAK Lithium Project
The PAK Lithium Project encompasses 26,774 hectares at the south end of Ontario’s Electric Avenue, the largest land package hosting premium lithium bearing pegmatites in Ontario . The Project covers 65 km of the Avenue length and remains largely unexplored; however, since 2013 the company has delineated two premium spodumene bearing lithium deposits (Pak and Spark) located 2.3 km from each other. A 2021 Preliminary Economic Assessment of a fully-integrated lithium operation utilizing spodumene concentrate generated from the PAK Lithium Project resource to achieve downstream conversion for production of battery-quality lithium chemicals (NI 43-101 Technical report titled “PAK Property” by BBA Engineering Ltd. report issued on April 5, 2021 ) resulted in a post-tax NPV8% of USD $974M with a 21% IRR. Considerable exploration upside is supported on the PAK Lithium Project through two other spodumene bearing discoveries; Bolt pegmatite located between PAK and Spark deposits, as well as Pennock pegmatite, a further 30 km northwest of PAK within the Project claims.
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We acknowledge the [financial] support of the Government of Canada.