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North Spirit Lithium Project

North Spirit Lithium Project

The Company has a head of agreement (“HOA”) with Exiro Minerals Corp (“Exiro”) to acquire 100% of the North Spirit Lithium Project located in Ontario, Canada (refer ASX release 26 May 2023).

  • The North Spirit Lithium Project is strategically located in Ontario’s ‘Electric Avenue’ in the Red Lake Region.
  • The North Spirit Lithium Project comprises 1,698 claims for approximately 340 square kilometres, located 30 kilometres along strike to the southeast from Frontier Lithium’s (TSXV: FL) world class PAK and Spark Lithium Project.
  • Frontier Lithium recently reported an intercept of 398m @ 1.88% Li2O1, including 23m @ 3.12% Li2O2.
  • Frontier Lithium has reported mineral resources on two deposits, the PAK Deposit (2 Mt @ 1.8% Li2O Measured & Indicated3, 2.8 Mt @ 2.22% Li2O Inferred)4 and Spark Deposit (18.8 Mt @ 1.5% Li2O Indicated, 29.7 Mt @1.3% Li2O Inferred)5 and is working towards a production scenario.
  • Exiro has an experienced management team in the Region and an advanced and positive relationship with Indigenous Committees and in conjunction with Blaze will assume in country exploration management of the Project.
  • Advanced and favourable access and infrastructure inclusive of the Wataynikaneyap Power Project and Bear Skin Commercial Airport.

 

Phase 2 Exploration Program

The recent work follows the Stage 1 mapping and sample program where a number of pegmatite outcrops were mapped and sampled with numerous significant results returned. This allowed the follow up program in September to focus on these initial identified target areas, with a total of 65 channel samples collected returning grades of 0.02% to 3.22% Li2O, with an average of 1.35% Li2O. A total of 46 of the 65 channel samples returned assays greater than 1.00% Li2O. (Please refer to BLZ ASX release dated 7th December, 2023 and 26th October 2023).

Due to extensive overburden cover, the full extent of the mineralized pegmatites remains unknown. The geophysical expression of the spodumene-bearing pegmatites are interpreted to continue well beyond their outcrop extent. High-resolution airborne magnetics show this mineralised trend continues to the northwest, along-strike of the defined 1.5 km corridor.

Location of the North Spirit Lithium Project, Ontario, Canada

North Spirit Lithium Project prospect summary

Footnotes

  1. Frontier Lithium Corporate Presentation (page 8) released May 2023 https://www.frontierlithium.com/_files/ugd/dec7de_cf506e8edabf4ffda373c1a737100be8.pdf (Frontier Lithium Corporate Presentation)
  2. Frontier Lithium Intersects 398.25m of Pegmatite Averaging 1.88% Li2O, including a 23.4m Zone of 3.12% Li2O, Bloomberg, 9 February 2023 https://www.bloomberg.com/press-releases/2023-02-08/frontier-lithium-intersects398-25m-of-pegmatite-averaging-1-88-li2o-including-a-23-4m-zone-of-3-12-li2o 3. Frontier Lithium Corporate Presentation (page 8)
  3. Frontier Lithium Corporate Presentation (page 8)
  4. Frontier Lithium Corporate Presentation (page 8)
  5. Frontier Lithium Corporate Presentation (page 8)

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info@blazelimited.com.au

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