Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Frontier Lithium (TSXV: FL) has released results for seven more drill holes completed during Phase XII drill program on the Spark pegmatite, part of its PAK lithium project located in the Lake mining district of Ontario.
The highlighted drill hole (DDH PL-077-22) intersected 126.8 metres of pegmatite from 56.9 metres to 183.7 metres averaging 1.31% Li2O. Within the intercept were two narrow lithium and tantalum enriched zones at depth, including 11.1 metres from 260.2 to 271.3 metres averaging 1.79% Li2O and 459 ppm Ta2O5, and 13.5 metres from 414.5 to 428.0 metres averaging 1.01% Li2O and 194 ppm Ta2O5.
Another hole (DDH PL-078-22) intersected 104.9 metres of pegmatite from 120.4 to 225.3 metres averaging 1.58% Li2O, and a second 33.5-metre pegmatite zone from 246.7 to 280.2 metres averaging 1.63% Li2O.
“We are pleased with the drilling results from the 2022 drill program to date, with the Spark deposit remaining open in all directions,” VP exploration Garth Drever said in a news release. “The focus continues to be at depth and to the west where the grade and thicknesses of the deposit remain robust.”
The initial objective of Phase XII drill program, which began in May and finished in October with 14,641 metres in 45 holes, was to convert inferred material to the indicated category for the planned open pit, in preparation for a pre-feasibility study on the PAK lithium project.
The latter half of the program, however, also 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 Spark pegmatite orebody.
When combining Phase XI and Phase XII delineation and infill drilling, Frontier has completed 15,984 metres of drilling in 50 holes at the Spark pegmatite this year.
Spark represents one of two premium spodumene-bearing deposits delineated by Frontier on the PAK property, which is said to contain one of North America’s highest-grade lithium resources.
Winner of the “2019 discovery of the year” award, the Spark pegmatite has a current mineral resource estimate of 14.4 million tonnes averaging 1.40% Li2O in the indicated category and 18.1 million tonnes averaging 1.37% Li2O in inferred.
The smaller PAK deposit – located 2.3 km away – adds another 9.3 million tonnes of mineral resource averaging 2.06% Li2O in the measured indicated and inferred categories.
Exploration is continuing on the PAK project through two other spodumene-bearing discoveries: the Bolt pegmatite (located between the PAK and Spark deposits), as well as the Pennock pegmatite (25 km northwest of PAK deposit within the project claims).
Shares of Frontier Lithium rose 2.0% by 11:45 a.m. ET Wednesday, trading at C$2.06 each. The company has a market capitalization of C$458.8 million ($338m).
