Stockhouse.com uses cookies on this site. By continuing to use our service, you agree to our use of cookies. Cookies are used to offer you a better browsing experience and to analyze our traffic. We also use them to share usage information with our partners. See full details.
I Agree
×
Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Privacy Policy | Disclaimer

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Privacy Policy | Disclaimer
Please Try Again {{ error }}

Send my password

Return to Login
SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
News   The Market Herald News   First Phosphate unearths new high-grade...

First Phosphate unearths new high-grade discoveries in Québec

Jonathon Brown Jonathon Brown, The Market Online
0 Comments| January 29, 2024
{{labelSign}}  Favorites
{{errorMessage}}
  • First Phosphate has confirmed a new high-grade discovery at its Bégin-Lamarche project in Québec
  • The original discovery of these areas was confirmed last fall with 26 grab samples returning high-grade P2O5 (phosphate)
  • Field reconnaissance and sampling in the Larouche area revealed the highest-ever phosphate sample found by the company
  • First Phosphate stock opened trading at $0.38 per share

First Phosphate (CSE:PHOS) has confirmed a new high-grade discovery at its Bégin-Lamarche project in Québec.

Located in the region of Saguenay-Lac-St-Jean, the original discovery of these areas was made in autumn 2022 during a prospection campaign and was confirmed last fall with 26 grab samples returning high-grade P2O5 (phosphate).

The Larouche area also continues to return high-grade analyses with one sample grading as high as 39.45 per cent phosphate in an irregular layer of pure apatite (the host mineral that contains phosphate). At this level of purity, the team noted that the mineral would be considered direct shipping ore.

Click to enlarge
Location of the New Mountain and Northwestern Zones. Source: First Phosphate Corp.

Grab sampling revealed a high-grade phosphate area 500 metres north of the existing Northern Zone. This new zone, named the Mountain Zone, is about 350 metres long by 175 metres wide.

The rock type is the most favourable rock type where phosphate is found on the property.

Assay results for the New Mountain Zone

Field station Sample UTM East UTM North Per cent P2O5 Per cent Fe2O3 Per cent TiO2
FP-23-RC-011 A1007212 326998 5403709 17.83 25.14 7.72
FP-23-JPA-114 A1007104 326769 5403913 15.99 32.03 3.83
FP-23-RC-008 A1007209 326988 5403834 14.25 24.14 3.91
FP-23-JPA-116 A1007106 326863 5403947 13.67 32.70 4.22
FP-23-RC-002 A1007203 326952 5403822 12.95 35.23 5.35
FP-23-JPA-113 A1007103 326758 5403910 12.79 40.40 7.05
FP-23-JPA-117 A1007107 326808 5403962 12.59 40.12 7.96
FP-23-JPA-119 A1007110 326732 5403936 11.56 36.97 5.57
FP-23-JPA-123 A1007114 326867 5403756 11.55 46.17 11.05
FP-23-JPA-121 A1007112 326823 5403823 11.08 37.74 6.31
FP-23-JPA-111 A1007102 326778 5403841 11.04 30.17 5.86
FP-23-RC-005 A1007206 326944 5403828 10.68 37.98 5.63
FP-23-RC-003 A1007204 326948 5403829 10.58 36.62 4.92
FP-23-RC-015 A1007216 326882 5403707 10.44 34.55 5.22
FP-23-RC-004 A1007205 326945 5403827 10.10 33.97 2.58
FP-23-RC-007 A1007208 326941 5403823 9.93 40.16 5.74
FP-23-JPA-115 A1007105 326799 5403924 9.40 29.51 1.96
FP-23-RC-006 A1007207 326946 5403828 9.18 39.47 5.81
FP-23-RC-001 A1007202 326949 5403815 8.85 37.09 3.91
FP-23-JPA-119 A1007109 326717 5403943 8.73 33.79 5.80
FP-23-RC-009 A1007210 326903 5403899 8.41 30.38 2.15
FP-23-JPA-120 A1007111 326776 5403891 8.26 34.39 4.59
FP-23-JPA-118 A1007108 326777 5403961 7.77 30.83 2.79
FP-23-RC-012 A1007213 326971 5403720 7.74 46.65 8.80
FP-23-RC-010 A1007211 326876 5403855 7.17 47.95 10.28
FP-23-JPA-122 A1007113 326838 5403785 4.64 29.75 2.30

A second new zone, named the Northwestern zone, was also discovered west of the existing Northern Zone from which four of eight samples returned grades of more than 10 per cent phosphate.

Field reconnaissance and sampling in the Larouche area also revealed high-grade phosphate. One sample returned 39.45 per cent phosphate, the highest-ever phosphate sample found by the company.

Click to enlarge
Location of samples found in the Larouche Area. Source: First Phosphate Corp.

The team noted that preliminary geological indications suggest these layers could be flat-lying and therefore open at substantial potential depth, but only further drilling will be able to determine the full width of the layers. A drill permit application has been made for drilling in this area. To date, field work has outlined phosphate layers of a length of up to 760 metres.

Assay results from the Larouche Area

Field station Sample UTM East UTM North Per cent P2O5 Per cent Fe2O3 Per cent TiO2
FP-23-JPA-185 A1007140 316149 5375054 39.45 5.88 0.77
FP-23-JPA-187 A1007142 316094 5374900 23.12 36.44 8.89
FP-23-JPA-148 A1007130 316203 5375312 21.25 24.65 5.43
FP-23-MB-009 A1007229 315951 5374697 17.60 30.39 4.79
FP-23-JPA-169 A1007134 315617 5373838 16.13 32.72 5.22
FP-23-JPA-186 A1007141 316144 5375032 15.58 35.45 6.01
FP-23-JPA-184 A1097139 316138 5375057 14.99 40.94 10.94
FP-23-MB-009 A1007231 315952 5374693 11.91 34.65 6.00
FP-23-MB-009 A1007228 315951 5374699 11.56 36.21 6.19
FP-23-MB-019 A1007237 316083 5374676 8.96 1.57 0.19
FP-23-JPA-181 A1007138 315570 5375192 8.83 46.42 13.30
FP-23-MB-012 A1007233 315981 5374735 8.75 39.14 6.79
FP-23-JPA-151 A1007131 316202 5375323 8.13 35.15 9.48
FP-23-JPA-152 A1007132 316198 5375337 8.13 31.43 8.19
FP-23-MB-012 A1007232 315976 5374737 7.45 41.31 8.32
FP-23-MB-009 A1007230 315951 5374697 5.72 52.27 12.02
FP-23-MB-014 A1007235 316009 5374878 1.88 17.48 3.76
FP-23-MB-014 A1007236 316005 5374876 1.81 21,52 3.60
FP-23-JPA-174 A1007136 316041 5375054 1.67 58.58 11.49
FP-23-MB-021 A1007239 316111 5374719 1.11 68.35 19.15
FP-23-MB-021 A1007240 316110 5374720 1.05 68.39 19.38
FP-23-MB-013 A1007234 315961 5374724 0.89 42.52 7.31
FP-23-JPA-158 A1007133 316349 5375411 0.59 68.21 19.36
FP-23-MB-021 A1007241 316110 5374722 0.37 30.41 11.02
FP-23-JPA-175 A1007137 316037 5375052 0.16 58.68 11.50
FP-23-JPA-171 A1007135 316000 5375101 0.09 68.29 18.56
FP-23-MB-019 A1007238 316083 5374689 0.08 1.19 0.20

“Begin-Lamarche continues to show promise in delivering another significant phosphate horizon for the company,” First Phosphate’s CEO, John Passalacqua, said in a news release. “What is more, the Bégin-Lamarche property is found at 70 km from the deep-sea port of Saguenay and brings with it tremendous logistical advantages.”

Click to enlarge
Location of First Phosphate projects in the Saguenay-Lac-St-Jean Area. Source: First Phosphate Corp.

First Phosphate is a mineral development company focused on extracting and purifying low-carbon phosphate for the lithium iron phosphate battery industry. The company is actively developing more than 1,500 square kilometres of royalty-free district-scale land claims in Québec.

First Phosphate stock opened 1.3 per cent higher, trading at $0.38 per share.

Join the discussion: Find out what everybody’s saying about this stock on the First Phosphate Corp. Bullboard and about other hot topics at Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.


{{labelSign}}  Favorites
{{errorMessage}}

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today

Featured Company

Forsys Metals Corp

Forsys Metals Corp

Forsys Metals Corp. is a Canada-based company, which is engaged in the business of acquiring ...
View More »