Foremost Lithium Resource & Technology Ltd. (CSE:FAT) (OTCQB:FRRSF) (FSE:F0R0) focused on becoming a producer of high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle and battery storage market, has started exploration at its 100% owned Jean Lake Lithium Property, situated in the mine-friendly district of Snow Lake, Manitoba.
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Foremost Lithium Resource & Technology Ltd. (CSE:FAT) (OTCQB:FRRSF) (FSE:F0R0) focused on becoming a producer of high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle and battery storage market, has started exploration at its 100% owned Jean Lake Lithium Property, situated in the mine-friendly district of Snow Lake, Manitoba.
The first step of this process includes the mobilizing of field crews to their 1,002 hectare (2,476-acre) property where the beryl high-grade spodumene-bearing pegmatite dykes with assays of 3.89% and 5.17% Li2O were uncovered in August 2021.
Field work will be staged from a base in Snow Lake.
Two field crews will commence follow-up prospecting of 14 high priority targets defined as magnetically low and structurally recessive lineaments.
These lineaments host the beryl pegmatites, are in part on trend with the SGM and Grass River lithium pegmatites of Snow Lake Resources and are interpreted as high priority exploration targets.
The lineaments were defined by an Unmanned Aerial Vehicle (UAV Drone) assisted high-resolution geophysical survey and Centre of Exploration Targeting "CET" analysis of the acquired data.
The lineaments will be prospected and rock chip sampled and assayed for lithium and related elements where exposure is permissive.
Where the lineaments are overburden covered, Mobile Metal Ion soil geochemical surveys will be initiated.
Rock and soil geochemical data will be reported in a subsequent news release and ultimately integrated with magnetic survey results to form the basis for drill testing.
A field crew will also be dispatched to the Zoro Lithium Project in Snow Lake for the acquisition of a 500 kg bulk sample from the trenched surface exposure of Dyke 1 on the Zoro lithium property.
Dyke 1 contains 1,074,567 tonnes at 0.91% Li2O, 182 ppm Be, 198 ppm Cs, 51 ppm Ga, 1212 ppm Rb, and 43 ppm Ta at a 0.3% Li2O cut-off.
The sample will be used for the development of a spodumene concentrate and subsequent refining into a saleable battery-grade lithium hydroxide product.
The company has contracted XPS Expert Process Solutions in conjunction with SGS Canada Inc. to undertake the processing of the sample to investigate the feasibility of Zoro’s Dyke 1 to create 6% Li20 spodumene concentrate.
Assuming successful testing, the company will be in a position to market its lithium to battery
manufacturer or other strategic partners prior to development, with results expected within three months.
John Gravelle, newly appointed President and CEO, stated: "We are excited to report that crews are currently on the ground at Jean Lake scoping the 14 identified priority drill targets. We are so encouraged at the potential of this property, the company now plans to run two teams operating separate drill rigs simultaneously. We also are very much looking forward to the results from Zoro's Dyke1 bulk sample, as this crucial catalyst, proving 6% battery-grade lithium hydroxide will be an important milestone, and thus, helping propel shareholder value as we market to potential battery-makers and important partners, globally."
Mr. Gravelle brings over 30 years of global mining and extensive global capital markets experience. He is a retired partner at PricewaterhouseCoopers where he served in various leadership roles related to mining, including in-depth knowledge of cross-border markets, M&A and corporate governance.
Mr. Gravelle's industry knowledge of capital markets, and related experience helping public companies navigate through a variety of equity and debt offerings will enable Foremost Lithium to implement strategies to increase the Company's visibility to an expanded shareholder base.
The shares are trading at $0.19.
For more information on the company’s other projects, please visit www.ForemostLithium.com, or contact the company at 604-330-8067 or by email at IR@ForemostLithium.com
