Foremost Lithium receives $300,000 grant from MMDF Mr. Jason Barnard reports
FOREMOST LITHIUM ANNOUNCES RECEIPT OF ITS SECOND $300,000 GRANT FROM THE MANITOBA MINERAL DEVELOPMENT FUND (MMDF)
Foremost Lithium Resource & Technology Ltd. has been approved for a $300,000 grant for the second time in just over two years (see the company's news release dated Sept. 30, 2021) from the Manitoba Mineral Development Fund (MMDF). The finances will help support and advance the continuing 2022/2023 3,000-metre diamond drill program (see the company's news release dated Nov. 21, 2022) on its Jean Lake lithium project located in the Snow Lake area of Manitoba.
The drill targets at the Jean Lake lithium property include the high-grade spodumene-bearing B1 and B2 pegmatite dikes and mobile metal ion lithium-anomalous magnetic trends defined by a UAV-assisted (unmanned aerial vehicle) geophysical survey completed earlier in 2022. The Jean Lake property is adjacent to the Snow Lake resources project which includes the Sherritt Gordon and Grass River pegmatites and the Thompson Brothers lithium-bearing pegmatite with a recently announced historic indicated mineral resource of 9.08 million tonnes at 1 per cent lithium oxide (Li2O) and an inferred resource of 1.96 million tonnes at 0.98 per cent Li2O based on a 0.3-per-cent cut-off.
It is intended that continuing exploration in 2023 on the Lithium Lane's Snow Lake properties will include focused prospecting and surficial geochemical surveys designed to follow up drone-assisted magnetic and lidar (light detection and ranging) surveys on the Grass River, Zoro and Peg North properties. Recent and historical geoscientific databases will be integrated to provide targets on the properties.
The MMDF was launched by the government of Manitoba in August, 2020, with the stated goal of jump-starting mineral and economic development initiatives throughout the province. The MMDF is administered through the Manitoba Chambers of Commerce and aims to support new economic development opportunities that capitalize on existing assets and infrastructure across Manitoba.
Jason Barnard, Foremost's president and chief executive officer, states: "We are pleased to once again receive this support from the Manitoba Mineral Development Fund. Historic, as well as current, base and precious metal mining and developing battery metal projects have provided employment and economic development opportunities in the Snow Lake region. With this assistance from the MMDF and the government of Manitoba, Foremost Lithium plans to contribute to the growth and prosperity to Snow Lake and nearby communities. The top 10 battery manufacturing plants are currently in China. Europe and North America are looking to reduce their reliance to Asia and are seeking domestic supply chains to which they can procure their critical minerals locally, as well as secure partnerships with local battery metal suppliers and manufacturers. As we advance our Lithium Lane projects in Snow Lake, we envision that we will be forming great strategic partnerships and are thankful to have contributions from the MMDF assisting our company."
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a hard-rock exploration company strategically located to capitalize on the world's growing electric vehicle appetite and is committed to being a premier supplier of North America's lithium feedstock. As the world transitions toward decarbonization, the company is focused on exploration and growth on its five Lithium Lane projects in Snow Lake, Man. Foremost Lithium also has the Winston gold/silver property in New Mexico, United States.