First Phosphate Corp. (CSE:PHOS) has announced what it called “strong” assay results from a geological reconnaissance program at its Larouche property in Quebec, uncovering grab samples with grades as rich as 36.5% phosphate.
The mineral development company said the mineralized area is up to 1,000 metres (m) long by 500m wide.
"These results demonstrate once again that First Phosphate has multiple rich, high-grade phosphate-bearing prospective properties at close proximity to the deep sea Port of Saguenay," First Phosphate CEO John Passalacqua said in a statement.
"The high-grade nature of this mineralization, its 40 kilometre distance from Port Saguenay and its close proximity to existing infrastructure are key elements for a successful project," he added.
First Phosphate noted 13 of 22 samples collected returned grades from 8.29% phosphate to 36.46% phosphate, while four others assayed between 17.32% titanium dioxide to 19.22% titanium dioxide.
The company added that the geological context is similar to what its winter drilling program revealed in the northern part of its Bégin-Lamarche property.
As well, First Phosphate reported that Peter Kent has retired as the company’s president and as a director but will remain involved as a member of its advisory board.
Also, Garry Siskos has stepped down as First Phosphate’s chief operating officer and chief financial officer to pursue fundraising opportunities in his private practice but will remain as a company consultant.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the lithium iron phosphate (LFP) battery industry.
Contact Sean at sean@proactiveinvestors.com