First Phosphate Corp. (CSE:PHOS) said it has obtained stellar final winter program drill results from its Bégin-Lamarche property in the Saguenay-Lac-St-Jean region in Quebec.
The Canadian company said 20 holes were drilled for a total of 4,274 metres (m).
"These drill results confirm our expectations of the size, grade and world-class phosphate potential of our Bégin-Lamarche property located at only 75 km from the deep-sea Port of Saguenay," said First Phosphate President Peter Kent. "With another light drill program, we should be in a position to initiate a 43-101 resource estimate for this property later this year."
The company highlighted that it received the drill results from the property’s Northern and Southern Zones which are within a larger 2,500-meter strike zone.
The Northern Zone
First Phosphate said 13 drill holes that were completed in the Northern Zone identified four phosphate-bearing layers. The layers average 60m true width and are at least 500m long. The layers appear to be open in all directions, according to the company.
Two holes intersected the mineralized layers to a depth of at least 200m. Two of the four layers show grades in excess of 7% P2O5 (phosphate). Among other assay results for the Northern Zone, the company said the four layers show an average grade of 6.2% P2O5.
Southern Zone
Meanwhile, seven drill holes in the Southern Zone identified two layers containing phosphate. Both layers averaged 100m true width and the primary layer is at least 1,500m long, said First Phosphate.
Drilling showed that the mineralized layers extend to a depth of at least 150m. The average grade of the layers in the Southern Zone is 4.7% P2O5, noted the company.
"Phosphate projects require good grades, access to infrastructure and, above all, proximity to port in order to be successful and to be able to make it into production without lengthy delays," noted First Phosphate CEO John Passalacqua. "Bégin-Lamarche has it all starting with some of the best phosphate grades and direct paved-road access to the deep-sea port of Saguenay at only 75 km away."
The company said a second 2,000m drill program is being planned for the Northern Zone of the Bégin-Lamarche property. The objective of this infill program will be to drill the known phosphate layers to a 100 x 100m grid in order to be able to commission a 43-101 resource estimate for the Bégin-Lamarche property later this year.
First Phosphate also owns the Lac à l'Orignal flagship property, supporting land and 1,500 square kilometers of additional blue-sky land claims in the Saguenay-Lac-St-Jean region of Quebec.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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