Foremost Lithium Resource & & Technology Ltd. [NASDAQ-[NASDAQ-FMST; CSE-FAT; FSE-F0R0; WKN-A3DCC8]has actually begun drilling on its Zoro lithium home situated in the Snow Lake area of Manitoba. The business has actually gotten a multi-year work authorization for its Zoro Property from the Mining Permit Office of the Manitoba Government, legitimate till April 26th of 2026.
The drill program has actually been partly moneyed from a $300,000 grant by The Manitoba Mineral Development Fund in January of 2024.
Jason Barnard, President and CEO of Foremost Lithium, stated: “Our maiden resource at our Dyke 1 stays our high concern target with the capacity for substantial resource growth beyond its present quotes. Provided the truth that we have actually gotten a multi-year license, we have time on our side to construct tonnage and resource. Our Zoro Property has 16 tested spodumene bearing lithium pegmatite dykes. This is a perfect chance to get those drills turning and struck some excellent crossways to produce excellent brand-new drivers for our Company and investors, despite existing market conditions.”
Drilling started at the Zoro Property the very first week of February at Dyke 8. Previous drilling at this Dyke included 8 holes (overall of 98.25 metres) that converged top-quality lithium in 36.5 metres of spodumene-bearing pegmatite. Lithium assay results differed from 0.7% to 1.3% in DDH Far18-034 over drill crossways of 0.9-4.9 metres and from 1.1% to 1.5% Li2O in DDH Far18-035 over drill crossways of 2.2 to 12.3 metres.
This Dyke has actually been specified over 120 metres in length, 5-15 metres in width, has actually been drilled to a depth of 157 meters and stays open in all instructions. Dyke 3 will likewise be drill checked as it is likewise open in all instructions. Extra drill screening will be carried out to figure out the relationship in between Dyke 8 and Dyke 3. Other spodumene bearing dykes will likewise be drill checked for resource growth and advancement.
Foremost’s greatest concern, Dyke 1, hosts a presumed resource from a single top-quality lithium-bearing spodumene pegmatite– partly outcropped at surface area– of 1,074,567 heaps grading 0.91% Li2O, with a cut-off of 0.3%, as stated in the business’s submitted SK-1300 Technical Report Summary (2023) and NI-43-101 Technical Report (2018 ).
Mineralization at Dyke 1 is specified for 265 metres along strike, approximately 40 metres broad and to a depth of 265 metres. It is open in all instructions which is anticipated to offer Foremost an outstanding source for more resource advancement.
Drilling is underway with a drill rig and team offered by Rodren Drilling Ltd. (Winnipeg, Manitoba). Air assistance, core storage and preparation centers are offered by Gogal Air Services, and drill pads were cut by Moss Line Cutting Ltd. (both of Snow Lake, Manitoba). Field and technical assistance for the drilling program is offered by Dahrouge Geological Consulting (Edmonton, Alberta). The Zoro Property drill program was initially targeted to start following or in combination with our Jean Lake residential or commercial property drilling program, however it was chosen to very first start the drill program at Dyke 1 on the Zoro home, with the Jean Lake drill program to follow at a later date.
The business has actually participated in a marketing and seeking advice from contract with Lakefront Enterprises Inc. Under the Agreement, Lakefront will offer, to name a few services, numerous marketing, electronic media, social networks and standard media assistance for the business. Found in Vancouver, BC, Lakefront has actually been maintained on a three-month term for a one-time cost of $172,000 for its services. After the preliminary three-month duration the contract will continue for successive one-month terms unless ended by either celebration upon offering the other celebration with 30 days’ notification. Lakefront is not an associated celebration and is arm’s length to the business. Lakefront does not presently own any shares of the Company; nevertheless, an affiliate of Lakefront presently owns 1,000 shares of the Company.
Foremost’s tactically situated lithium residential or commercial properties cross 43,000 acres in Snow Lake, Manitoba, and hosts a residential or commercial property in a recognized active lithium camp located on over 11,400 acres in Quebec called Lac Simard South.
Foremost’s 4 flagship Lithium Lane Projects along with its Lac Simard South job lie at the idea of the NAFTA superhighway to profit from the world’s growing EV hunger. As the world shifts towards decarbonization, the Company’s goal is the extraction of lithium oxide (Li2O), and to consequently contribute in the production of top quality lithium hydroxide (LiOH), to assist power lithium-based batteries, important in establishing a clean-energy economy. Foremost Lithium likewise has the Winston Gold/Silver Property in New Mexico, USA.