Frontier Lithium Announces the Assignment of a LEI (Legal Entity Identifier) Number
Sudbury, Ontario (FSCwire) - Frontier Lithium Inc. (TSX.V: FL) (the “Company”) is pleased to announce that it has been granted a Legal Entity Identifier (“LEI”). The Company’s LEI code is 5299003YPGD78AK6J403.
“Frontier Lithium deliberately secured an LEI for the purpose of having Europe compliance. The company has shareholders that reside in Europe and the company is targeting potential European customers which may further result in a European stock listing,” comments Trevor Walker, President and Chief Executive Officer of Frontier Lithium.
The LEI is a 20-character alphanumeric code used as part of a global reference data system that uniquely identifies entities that are party to a financial transaction within any jurisdiction. It is an initiative endorsed by the G20 and is administered by the Global LEI System. The European Union has adopted regulations that require use of a LEI as a barcode equivalent aimed at pinpointing systematic risks. It’s described as a publicly available global directory, which greatly enhances transparency in the global marketplace
About Frontier Lithium Inc.
Frontier’s goal is to become a low-cost, fully integrated lithium and tantalum producer through development of the PAK lithium deposit in Ontario, Canada. Frontier maintains a tight share structure with management ownership exceeding 30% of the Company. Over CAD $7 million of work has been conducted from 2013 to 2018 on the deposit which boasts its lithium in a rare, high-purity, low-iron spodumene. The initial target market is the glass-ceramic industry which consumes roughly one-third of global lithium supply and is currently faced with monopolistic conditions, coupled with major lithium producers increasingly directing output toward supporting battery manufacture.
Ceramic/glass customers prefer to source technical-grade (low-iron) spodumene concentrate in excess of 7% lithium oxide (Li2O), if available, to avoid lower grade petalite concentrates, or paying much higher prices for battery grade lithium compounds.
The PAK lithium deposit remains open in all directions and Company Management is working towards developing a viable operation. The Company is currently conducting a pre-feasibility study to assess the economic viability and technical feasibility of producing lithium concentrates. Frontier’s goal is to first establish a viable technical grade spodumene concentrate operation. A possible second stage of investment and longer term prospect is to further process some of PAK’s output to produce the higher purity lithium compounds required for lithium battery technologies used in the electrification of transportation and electric grid storage applications.
About the PAK Lithium Project
The PAK Lithium Project lies close to the boundary between two geological sub-provinces of the western Superior geologic province in northwestern Ontario and hosts a rare metals pegmatite deposit. The deposit is an LCT (lithium- cesium- tantalum) type pegmatite. These types of pegmatites have been the principal source of hard rock lithium, tantalum, rubidium and cesium ores mined in the world but there are comparatively few commercially-viable deposits.
Frontier is actively exploring its 100% owned project which contains the Pakeagama Lake pegmatite. The PAK deposit has a current Measured and Indicated Resource of 7.89 million tonnes of 1.73% Li2O equivalent (eq.) or 1.58% Li20 and 104 ppm Ta2O5 and an Inferred Resource of 295,600 tonnes of 1.35% Li2O eq. or 1.20% Li2O and 103 ppm Ta2O5 which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3). The deposit has adjacent zones that are enriched in tantalum and rubidium.
The deposit now has a known 500m strike length with an estimated true width varying from 10m to 125m with a sub-vertical orientation. The resource remains open to depth and along strike to the northwest and southeast.
Company Contact Information
Trevor R. Walker, President & CEO
2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
Media Requests
Joseph Mansourian
Manager, Investor Relations
2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA
T. +001 705.618.0070
F. +001 705.897.7618
Additional information regarding Frontier Lithium is available on SEDAR at www.sedar.com under the Company's profile and on its website at www.frontierlithium.com, including various pictures of ongoing work at the project.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/FrontierLithium01162018.pdf
Source: Frontier Lithium Inc. (TSX Venture:FL, OTC Bulletin Board:HLKMF, FWB:HL2)
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