First Phosphate Corp Reports Positive Drill Results at Bégin-Lamarche Project
Vanoucouver, Canada
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July 12, 2024 01:45 PM Eastern Daylight Time
First Phosphate Corp Chief Geologist Gilles Laverdiere joined Steve Darling from Proactive to discuss the latest results from the company's Bégin-Lamarche project in Quebec. The company has completed a 25,929-meter drill program ahead of schedule in April, with all samples now shipped to the lab for analysis. A 43-101 resource estimate will soon be initiated, followed by a Preliminary Economic Assessment. Both studies are expected to be completed by the end of fiscal Q4 2024.
Laverdiere highlighted that significant phosphate layers were intersected in all but two holes continuously across the 3 km magnetic trend at Bégin-Lamarche. A total of 23 drill holes have been completed in the Phosphate Mountain Zone, with data from 20 drill holes showing grades over 10% P2O5, with widths ranging from 7 m to 99 m. The Phosphate Mountain Zone has been drilled for a total length of 250 m so far and is beginning to merge with the Northern Zone, where a 500 m thick phosphate mineralized envelope exists. This envelope has delineated up to five individual layers ranging from 60 m to 100 m in thickness, starting at the surface and continuing down to a depth of 300 m. The overall strike length of the Phosphate Mountain Zone and the Northern Zone is approximately 600 meters.
Laverdiere expressed optimism about these results, emphasizing that they showcase the robust potential of the Bégin-Lamarche project. With the upcoming resource estimate and economic assessment, First Phosphate Corp aims to solidify its position as a key player in the phosphate mining sector.
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