Frontier Lithium Uplists In U.S. To OTCQB Venture Market
SUDBURY, ON,Feb. 5, 2021/CNW/ – Frontier Lithium Inc. (TSXV: FL) (OTCQB: LITOF) (FSE: HL2) (“Frontier” or “the Company”) is pleased to announce that its common shares are now trading on the OTCQB Venture Market (the “OTCQB”), a US trading platform that is operated by the OTC Markets Group inNew York. The Company trades on the OTCQB under the symbol “LITOF”; the Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “FL”.
“Listing on the OTCQB is part of a long-term strategy to introduce the Company to a broader North American audience,” saidTrevor Walker, President and CEO of Frontier. “We believe the timing is prime given the U.S.-Canada Joint Action Plan on Critical Minerals Collaboration. With a limited number of high-quality primary lithium resource opportunities, and particularly those in top North American mining jurisdictions, we are confident this new uplisting will improve our visibility, trading volumes and liquidity as we continue to introduce Frontier Lithium to new investors in the U.S.”The OTCQB Venture Market is the premier marketplace for entrepreneurial and development stage U.S. and international companies that are committed to providing a high-quality trading and information experience for their US investors. By meeting and maintaining the stricter eligibility requirements of the OTCQB listing, Frontier Lithium benefits from the potential to further enhance trading volumes through an expansion of investment advisers’ ability to recommend investments to their U.S. clients.About Frontier Lithium Inc.Frontier Lithium (TSX.V: FL) (OTCQB: LITOF) (FSE: HL2) is aSudbury Ontariobased, publicly listed, junior mining company with the largest land position in an emerging premium lithium mineral district located in the Great Lakes region of northernOntario. The company maintains 100% interest in the PAK Lithium Project which contains one ofNorth America’shighest-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 preparing an impending Preliminary Economic Assessment (PEA) study targeting the manufacturing of battery quality lithium hydroxide in the Great Lakes Region to support electric vehicle and battery supply chains inNorth America. Frontier maintains a tight share structure with management ownership approximately 30% of the Company.About the PAK Lithium ProjectThe PAK Lithium Project encompasses 26,774 hectares at the south end ofOntario’sElectric Avenue, the largest land package hosting lithium bearing pegmatites inOntario. 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 located 2.3 km from each other at the southwestern end of the project. Recently, Frontier confirmed the presence of spodumene with the Bolt pegmatite, between PAK and Spark deposits and the Pennock Lake pegmatite occurrence a further 30 km along the Project. Frontier’s premier Great Lakes location is advantaged by favorable geology, proven metallurgy with access to intermodal hubs, infrastructure, power, and mining along with downstream lithium processing expertise and auto OEM’s.The PAK deposit has a mineral reserve in the proven and probable categories of 5.77 MT averaging 2.06% Li2O and hosts a rare technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3). The Spark Deposit has a mineral resource estimate of 3.2 MT averaging 1.59% Li2O (indicated) and 12.2 MT averaging 1.36% Li2O (inferred), as per the NI 43-101 Technical Report, “PAK prefeasibility study, Spark resource estimation” by WSP Canada Inc. and Nordmin Engineering Ltd., updated onMarch 23, 2020.
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