SUDBURY,
ON, Nov. 1, 2023 /CNW/ - Frontier Lithium Inc.
(TSXV: FL) (FRA: HL2) (OTCQX: LITOF), a leading Canadian lithium
exploration and development mining company, is pleased to announce
the commencement of the first phase of the Definitive Feasibility
Study (DFS) for the PAK lithium project ("Project") and the award
of the mine and mill scope to DRA Americas Inc., a fully-owned
subsidiary of DRA Global (DRA). DRA Global is an international
multi-disciplinary engineering, project delivery, and operations
management group primarily focused on the mining, minerals, and
metals industry.
Following the encouraging results from the Company's
Preliminary Feasibility Study (PFS) on the Project, as described in
the press release dated July 17,2023.
The Company is excited to be moving forward with the next
stage of project engineering. The fully integrated mine,
mill, and refinery flowsheet demonstrated in the PFS will be
studied in two distinct scopes at the DFS level with the mine and
mill scope set to conclude in the next 12-18 months.
It is projected that a mine and milling facility with an
estimated output of 200,000 metric tonnes of spodumene concentrate
per annum will be brought online in two stages:
- Stage 1 – Winter Road Access: The existing winter road will be
used for the construction of the first concentrator line targeting
the high purity PAK deposit and facilitating the production of up
to 100,000 metric tonnes per annum of premium spodumene
concentrates. Stage 1 aims to leverage the winter road for
transportation to market to facilitate rapid market penetration
with the Company's premium spodumene concentrates.
- Stage 2 – All Season Road Access: The development and ramping
of the second mill line into production will be completed
concurrent with the targeted completion of an all-season
access-road to the region. This expansion will enable the export of
additional premium spodumene concentrates, to enhance Frontier's
market presence.
Implementing this phased construction approach serves to
mitigate project risks, capitalize on existing infrastructure, and
focuses the Company on short-term concentrate production goals.
Additionally, this strategy will aim to minimize potential delays
associated with all-season road construction, and to provide a more
streamlined path with options for operational success.
Frontier remains fully financed for the successful completion of
the Phase 1 DFS, reinforcing its commitment to driving sustainable
lithium solutions in the Canadian mining industry.
About DRA GLOBAL
DRA Global Limited (ASX: DRA | JSE: DRA) (DRA or the Group) is
an international multi-disciplinary engineering, project delivery
and operations management group, predominantly focused on the
mining, minerals and metals industry. The Group has an extensive
track record spanning almost four decades across a wide range of
commodities and have delivered more than 8,000 projects, studies,
and managed services solutions, and currently operate more than a
dozen sites through its operations and maintenance division. DRA
has strong expertise in the mining, minerals and metals processing
industries, as well as related non-process infrastructure such as,
water, and energy solutions and focusses on sustainability and
assisting mining companies to achieve their Environmental, Social
and Governance goals. DRA covers all major mining centres with
offices across Africa and the
Middle East, North and
South America, and Asia-Pacific.
About Frontier Lithium
Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is
an exploration and development mining company with headquarters and
assets in Northern Ontario, a
tier-one mining jurisdiction. The Company's PAK Project represents
the largest land position in a new, premium lithium mineral
district, with a proven high-grade, large tonnage and pure lithium
resource. Strategically located in Ontario's Great Lakes region near the United
States Border, Frontier is developing the first fully integrated
lithium mining-and-processing operation in Ontario with an aim is to become a significant
supplier of spodumene concentrates and battery-grade lithium
hydroxide to the growing electric vehicle and energy storage
markets across North America.
About the PAK Lithium
Project
The PAK lithium project contains North
America's highest-grade lithium resource and is the largest
in Ontario 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 titled ""National Instrument 43-101
Technical Report PFS PAK Lithium Project"" authored by BBA E&C
Inc., delivered a 24- year project life, at a post-tax NPV(8%)
of US$1.74 billion and internal rate of return of 24.1%
as per the press release disseminated on May 31, 2023 ,
and was filed on www.SedarPlus.com.
Cautionary Note Regarding
Forward-Looking Statements
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.