First Phosphate Intersects 92.5 m of 11.82% Igneous Phosphate Starting at Surface at Its Begin-Lamarche Project in Saguenay-Lac-St-Jean, Quebec, Canada

Rhea-AI Summary

First Phosphate Corp. announces significant assay results from its Bégin-Lamarche project in Quebec, Canada, with impressive phosphate intersections at various zones. The company's ongoing drill program has revealed high-grade phosphate mineralization, promising potential for open-pit operations. CEO John Passalacqua anticipates completion of the drill program by May 2024, with a resource estimate to follow. The company's aggressive exploration efforts showcase the project's mineralization potential.

Saguenay, Quebec--(Newsfile Corp. - April 23, 2024) - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce a third set of assay results from its ongoing 25,000 m drill program at its Bégin-Lamarche project located in Saguenay-Lac-St-Jean, Quebec, Canada. Since the drill program began in February 2024, a total of 23,398 m of drilling has been completed and assay results have now been returned for a total of 9,155 m of drilling. A total of 4,691 samples are still at the laboratory and results will be released as they become available.

Highlights:

• Phosphate Mountain Zone: Drill hole BL-24-56 intersected 11.82% P₂O₅ (phosphate) over 92.5 m starting at a surface depth of 6.5 m. Drilling in the Phosphate Mountain Zone revealed a thick layer (90 m) of phosphate bearing nelsonite outcropping on surface with numerous other high-grade intersections at greater than 10% P₂O₅.

• Northern Zone: Drill hole BL-24-40 intersected 7.76% P₂O₅ over 88.2 m from a depth of 186.0 m including 9.33% P₂O₅ over 61.2 m.

• Northwestern Zone: Drill hole BL-24-54 intersected 9.18% P₂O₅ over 40.0 m from a starting depth of 61.1 m.

• Southern Zone: Drill hole BL-24-55 intersected 4.60% P₂O₅ over 190.8 m from a starting surface depth of 4.0 m.

"Drill results in the Phosphate Mountain Zone revealed a thick layer of very high grade igneous phosphate starting right at surface. This layer geometry creates an ideal scenario for an eventual starting point for an open pit operation," said First Phosphate CEO, John Passalacqua. "The drill program will be completed on time by end of May 2024 and a 43-101 resource estimate will begin immediately once all remaining assays have been received from the lab."

Phosphate Mountain Zone

A total of 20 drill holes have been completed to date in the Phosphate Mountain Zone while results from only 5 drill holes have been received to date. Data received from these 5 drill holes shows grades of over 10% P₂O₅ over widths ranging from 7 m to 92 m. The Phosphate Mountain Zone has been drilled for a total length of 250 m to date. This zone is beginning to merge (from the southeast) with the Northern Zone where a 500 m thick phosphate mineralized envelope exists, one which has delineated up to 5 individual layers ranging from 60 m to 100 m in thickness starting at 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 m.

Drill hole BL-24-56 intersected 11.82% P₂O₅ over 92.5 m from a starting depth of 6.5 m. Another high-grade intersection in hole BL-24-53 yielded 9.5% P₂O₅ over 62.3 m at a starting depth of 70.1 m (See Table 1).

Table 1 – Drill Results for the Phosphate Mountain Zone

Drill Hole	From (m)	To (m)	Length1 (m)	P2O5 (%)	TiO2 (%)	Fe2O3T (%)
BL-24-46	32.0	74.0	42.0	8.73	3.26	22.43
including	32.0	49.5	17.5	10.31	4.15	27.30
including	55.0	74.0	19.0	9.75	3.30	22.61
BL-24-46	111.0	135.0	24.0	12.47	4.63	30.05
BL-24-46	155.2	177.6	22.4	14.34	5.84	28.28
BL-24-46	225.0	252.0	27.0	11.15	3.85	19.81
BL-24-46	258.0	278.0	20.0	4.18	1.96	10.25
BL-24-51	70.0	111.0	41.0	7.72	1.88	16.09
BL-24-51	133.3	136.0	2.7	16.33	4.48	24.75
BL-24-51	152.5	157.5	5.0	11.85	4.54	23.67
BL-24-53	70.1	132.4	62.3	9.50	4.12	28.45
including	70.1	114.8	44.7	10.91	4.88	34.23
BL-24-53	154.1	246.0	91.9	6.92	3.50	20.08
including	192.0	220.5	28.5	10.98	5.35	27.27
BL-24-56	6.5	99.0	92.5	11.82	5.29	30.96
including	6.5	84.0	77.5	12.96	5.77	33.31
BL-24-56	123.0	162.0	39.0	8.43	3.18	17.56

 

¹ Lengths are measured along the core. True widths are estimated to be between 70 and 90% of the core interval.

Northern Zone

2024 drill results to date indicate 4 mineralized phosphate layers ranging from 60 m to 100 m in thickness within a 500 m thick mineralized envelope starting at surface and continuing to a depth of 300 m. Additional drill holes are being added to this zone to better define the layers.

Drill hole BL-24-40 intersected 7.76% P₂O₅ over 88.2 m from a depth of 186.0 m including 9.33% P₂O₅% over 61.2 m. (See Table 2).

Table 2 – Drill Results for the Northern Zone

Hole	From (m)	To (m)	Length1 (m)	P2O5 (%)	TiO2 (%)	Fe2O3T (%)
BL-24-40	21.0	60.0	39.0	5.78	3.91	24.55
including	48.0	60.0	12.0	10.09	5.45	36.98
BL-24-40	186.0	274.2	88.2	7.76	2.86	21.87
including	213.0	274.2	61.2	9.33	3.14	24.13
BL-24-422	6.6	188.7	182.1	5.04	3.09	17.77
including	93.0	108.0	15.0	8.01	4.35	24.05
including	120.0	159.4	39.4	8.00	4.38	28.57

 

¹ Lengths are measured along the core. True widths are estimated to be between 70% and 90% of the core interval.
² Drill hole has been interpreted as drilled parallel to the phosphate layer (potentially along dip)

Northwestern Zone (NW)

Drill hole BL-24-45 intersected 7.97% P₂O₅ over 38.0 m from a starting depth of 22.0 m and drill hole BL-24-54 intersected 9.18% P₂O₅ over 40.0 m starting at 61.1 m (See Table 3). The Northwestern Zone has been drilled over a strike of 300 m and has returned values of between 8% and 10% P2O5 over widths ranging from 30 m to 40 m. This zone is located northwest of the main magnetic trend and phosphate mineralization area.

Table 3 – Drill Results for the Northwestern Zone

Hole	From (m)	To (m)	Length1 (m)	P2O5 (%)	TiO2 (%)	Fe2O3T (%)
BL-24-45	22.0	60.0	38.0	7.97	3.15	20.54
BL-24-54	61.1	101.1	40.0	9.18	4.80	28.16

 

¹ Lengths are measured along the core. True widths are estimated to be between 80% and 90% of the core interval.

Southern Zone

The Southern Zone has been drilled at 100 m spaced sections over a strike length of 1,000 m. Results to date from the Southern Zone show continuous widths of over 100 m of phosphate mineralization. Drill hole BL-24-55 indicates results of 4.60% P₂O₅ over 190.8 m starting at a surface depth of 4.0 m (See Table 4). The current results also confirm the presence of other higher grade phosphate layers as evidenced by drill hole BL-24-41 which returned 8.87% P₂O₅ over 12.6 m and drill hole BL-24-52 which returned 7.04% P₂O₅ over 43.7 m including a section of 12.28% P₂O₅ over 9.2 m.

Table 4 – Drill Results for the Southern Zone

Hole	From (m)	To (m)	Length1 (m)	P2O5 (%)	TiO2 (%)	Fe2O3T (%)
BL-24-41	6.9	19.5	12.6	8.87	6.21	31.05
BL-24-41	96.0	141.0	45.0	5.18	3.08	17.68
including	96.0	126.0	30.0	6.14	3.75	20.04
including	135.0	141.0	6.0	7.48	3.17	26.64
BL-24-50	4.2	93.0	88.8	5.90	4.14	23.62
BL-24-52	67.0	183.0	116.0	4.54	3.47	19.48
BL-24-52	204.0	273.0	69.0	5.49	2.93	19.84
BL-24-52	204.0	247.7	43.7	7.04	3.62	24.50
including	204.0	228.0	24.0	7.77	4.14	29.02
including	238.5	247.7	9.2	12.28	5.59	30.41
including	258.0	273.0	15.0	4.33	2.50	15.79
BL-24-55	4.0	194.8	190.8	4.60	3.64	19.83
including	4.0	132.0	128.0	5.08	3.90	20.92
including	153.0	194.8	41.8	4.95	4.24	23.59
BL-24-57	3.5	81.4	77.9	4.71	3.17	19.33
including	3.5	48.0	44.5	4.89	3.30	20.06
including	63.0	81.4	18.4	7.85	5.10	28.82
BL-24-57	157.7	169.0	11.3	4.04	2.25	16.37
BL-24-57	183.9	194.0	10.1	6.58	3.86	22.58
BL-24-57	240.8	244.0	3.2	10.54	2.02	12.51

 

¹ Lengths are measured along the core. True width is estimated to be between 60% and 90% of the core interval

The technical parameters of the drill holes being released in this press release are shown in Table 5 below and their location is shown in Figure 1 below. Previously released results for drill holes from the current 2024 drill program are presented in Table 6.

Table 5 – Parameters for the Current Drill Holes Being Released

Hole_ID	Easting	Northing	Azimuth	Dip	Depth	Zone
BL-24-40	326585	5403279	330	-45	282	Northern
BL-24-41	326011	5402284	125	-45	150	Southern
BL-24-42	326568	5403312	150	-45	201	Northern
BL-24-45	326253	5403348	305	-45	204	NW
BL-24-46	326814	5403914	150	-45	300	Mountain
BL-24-50	325795	5402184	125	-45	276	Southern
BL-24-51	326814	5403914	150	-60	244.7	Mountain
BL-24-52	325781	5402326	125	-45	300	Southern
BL-24-53	326851	5403845	150	-45	301	{ "@context": "https://schema.org", "@type": "FAQPage", "name": "First Phosphate Intersects 92.5 m of 11.82% Igneous Phosphate Starting at Surface at Its Begin-Lamarche Project in Saguenay-Lac-St-Jean, Quebec, Canada FAQs", "mainEntity": [ { "@type": "Question", "name": "What are the highlights of First Phosphate Corp's recent assay results at its Bégin-Lamarche project in Quebec, Canada?", "acceptedAnswer": { "@type": "Answer", "text": "Drill hole BL-24-56 intersected 11.82% P2O5 over 92.5 m starting at a surface depth of 6.5 m in the Phosphate Mountain Zone, showcasing significant phosphate mineralization." } }, { "@type": "Question", "name": "When is First Phosphate Corp's drill program expected to be completed?", "acceptedAnswer": { "@type": "Answer", "text": "First Phosphate Corp anticipates completing the drill program by the end of May 2024." } }, { "@type": "Question", "name": "Who is the Qualified Person responsible for reviewing the scientific and technical disclosure for First Phosphate Corp?", "acceptedAnswer": { "@type": "Answer", "text": "Gilles Laverdière, P.Geo, Chief Geologist of First Phosphate, is the Qualified Person overseeing the company's disclosure as per NI 43-101 standards." } } ] } FAQ What are the highlights of First Phosphate Corp's recent assay results at its Bégin-Lamarche project in Quebec, Canada? Drill hole BL-24-56 intersected 11.82% P2O5 over 92.5 m starting at a surface depth of 6.5 m in the Phosphate Mountain Zone, showcasing significant phosphate mineralization. When is First Phosphate Corp's drill program expected to be completed? First Phosphate Corp anticipates completing the drill program by the end of May 2024. Who is the Qualified Person responsible for reviewing the scientific and technical disclosure for First Phosphate Corp? Gilles Laverdière, P.Geo, Chief Geologist of First Phosphate, is the Qualified Person overseeing the company's disclosure as per NI 43-101 standards. FIRST PHOSPHATE CORP OTC:FRSPF FRSPF Rankings N/A Ranked by Market Cap N/A Ranked by Dividends FRSPF Latest News Oct 2, 2024 First Phosphate Reports Published University Research Note Relating to Igneous Rock Phosphate Ore Bodies around the World Sep 9, 2024 First Phosphate Chooses Facility in Saguenay-Lac-St-Jean, Quebec, Canada for Deployment of its Iron Phosphate Plant Sep 3, 2024 First Phosphate Announces Appointment of Peter Nicholson as Director of First Phosphate Sep 1, 2024 First Phosphate Announces Director Resignation Aug 12, 2024 First Phosphate Announces Insider Purchases of Shares FRSPF Stock Data Market Cap 11.39M Float 54.42M Insiders Ownership 38.95% Institutions Ownership 0.56% Industry Other Industrial Metals & Mining Sector Basic Materials Website Link Country United States of America City Vancouver Explore About Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Links RSS feed Patreon Discord Server Facebook Reddit Google News © 2020-2024 StockTitan.net