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New Pegmatite Targets Found at Manitoba Lithium Project

Stockhouse Editorial
1 Comment| April 19, 2022

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(Map via Foremost Lithium Resource & Technology Ltd. Click to enlarge.)


Foremost Lithium Resource & Technology Ltd. (CSE: FAT, Forum) announced on Tuesday the final interpreted results from the Unmanned Aerial Vehicle, magnetic survey over the Jean Lake property. Jean Lake is Foremost's 100% owned 1,002-hectare (2,476-acre) property situated in Snow Lake, Manitoba, Canada. The North-East sector of Foremost' s Jean Lake property (claim JOL 9419) directly abuts with Snow Lake Lithium's Sherritt Gordon and Grass River pegmatites exposed on Snow Lake Lithium's ADD3203 claim.

For full details on this news, click here.

Final images from the magnetic data identified 14 high priority structural targets for further exploration work in the northern portion of the Jean Lake property (pictured above).

The President and CEO of Foremost Lithium, Scott Taylor, stated that the final magnetic data interpretation, together with the 3.89% Li2O assayed on the B-1 Beryl pegmatite outcrop and the 5.17% Li2O on the B-2 Beryl pegmatite outcrop, and the disclosure of Snow Lake Lithium’s interim drilling results hitting intercepts of 30% spodumene on GRP-001 have imparted a sense of urgency and enthusiasm to extend and expedite the exploration work and drilling campaign throughout the spring and summer on Jean Lake.

“In recent news, Canada's mining sector is set to receive an unprecedented tranche of Federal incentives to accelerate and scale up production of raw materials used in EV batteries. One example is the new Critical Mineral Exploration Tax Credit (CMETC) which specifically incentivizes capital deployed to support hard rock Canadian lithium exploration and development activities. Stellantis and LG Energy Solution recently announced a new $4.9 Billion-dollar Ontario based Gigafactory scheduled to come online in 2024. American automakers General Motors & Ford Motor Co. have both announced plans to make electric vehicles at Ontario based factories. These long-term macroeconomic catalysts all support the company's strategic focus and enhance the value of our Snow Lake lithium assets which are situated nearby these massive long-term Canadian EV investments.”


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