First Phosphate Corp revealed the rest of the assay results from its Bégin-Lamarche project that showcased multiple high-grade surface grab samples.
Assay results from the Saguenay-Lac-St-Jean, Quebec-based property included up to 18.96% phosphate (P2O5) and 6.81% titanium (TiO2), according to a release from the company.
The results from Target 1 contained “rich and thick” layers of phosphate rock that extend within the original strike zone, First Phosphate said in a statement.
READ: First Phosphate closes final tranches of oversubscribed private placement for a total of $3.4M
Another 70 surface sample results confirmed the high grade nature of the phosphate discovery with 30% of assays grading over 10% P2O5, it added.
Additionally, the company made a new discovery at Target 3, where the results of 38 grab samples in a 30-60 m wide nelsonite produced multiple phosphate assays of over 10% P2O5. Target 3 is located approximately 3,000 m to the south of Target 1.
It also delineated a strike zone of 2.5 kilometres by 400 metres (m) that contained rich phosphate rock layers within the Target 1 sector.
What’s more, magnetic surveying shows that Target 1 and Target 3 might be aligned and form part of an even further extended strike zone, First Phosphate told shareholders.
Further sampling results revealed another high grade phosphate area on Target 8 (Larouche) with up to 20.52% P2O5 and 9.10% TiO2. Six of the 19 surface grab samples taken at Target 8 revealed assay results of over 10% P2O5, the company noted.
Very high phosphate grades
The results highlight some of the highest grade phosphate samples ever produced in the Saguenay-Lac-St-Jean region of Quebec, according to First Phosphate president Peter Kent.
"Igneous anorthosite comprises only about 1% of total global phosphate reserves. These deposits have the potential to be highly desirable for the production of Lithium Iron Phosphate (LFP) battery material because they are devoid of high concentrations of deleterious elements,” Kent told investors.
The firm added that it identified “promising” drill targets for the upcoming drill program.
First Phosphate is a mineral exploration and development company fully dedicated to extracting and refining advanced phosphate material for the LFP battery industry.
It holds over 1,500 square kilometers of total land claims in the Saguenay region of Quebec that consist of rare anorthosite igneous rock formation, which often yields high purity phosphate concentrate devoid of high concentrations of deleterious elements.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas